Financial media, globalisation, and China’s economic integration: comparing narrative construction of the Economist and Caijing

In June 2015, legal frameworks of the Asian Infrastructural Investment Bank were signed by its 57 founding members. Proposed and initiated by China, this multilateral development bank is considered to be an Asian counterpart to break the monopoly of the World Bank and the International Monetary Fund. In October 2015, China’s Central Bank announced a benchmark interest rate cut to combat the economic slowdown. The easing policy coincides with the European Central Bank’s announcement of doubts over US Fed’s commitment to raise interest rates. Global stock markets responded positively to China’s move, with the exception of the indexes from Wall Street (Bland, 2015; Elliott, 2015). In the meantime, China’s ‘One Belt, One Road’ (or New Silk Road Economic Belt) became atopic of discourse in relation to its growing global economy, as China pledged $40 billion to trade and infrastructure projects (Bermingham, 2015). The foreign policy aims to reinforce the economic belt from western China through Central Asia towards Europe, as well as to construct maritime trading routes from coastal China through the South China Sea (Summers, 2015). In 2012, The Economist launched a new China section, to reveal the complexity of the‘meteoric rise’ of China. John Micklethwait, who was then the chief editor of the magazine, said that China’s emergence as a global power justified giving it a section of its own(Roush, 2012). In July 2015, Hu Shuli, the former chief editor of Caijing, announced the launch of a think tank and financial data service division called Caixin Insight Group, which encompasses the new Caixin China Purchasing Managers Index (PMI). Incooperation with with Markit Group, a principal global provider of PMI, the index soon became a widely cited economic indicator. One anecdote from November’s Caixin shows how much has changed: in a high-profile dialogue between Hu Shuli and Kevin Rudd, Hu insisted on asking questions in English; interestingly, the former Prime Minister of Australia insisted on replying in Chinese. These recent developments point to one thing: the economic ascent of China and its increasing influence on the power play between economics and politics in world markets. China has begun to take a more active role in rule making and enforcement under neoliberal frameworks. However, due to the country’s size and the scale of its economy in comparison to other countries, China’s version of globalisation has unique characteristics. The ‘Capitalist-socialist’ paradox is vital to China’s market-oriented transformation. In order to comprehend how such unique features are articulated and understood, there are several questions worth investigating in the realms of media and communication studies,such as how China’s neoliberal restructuring is portrayed and perceived by different types of interested parties, and how these portrayals are de-contextualised and re-contextualised in global or Anglo-American narratives. Therefore, based on a combination of the themes of globalisation, financial media and China’s economic integration, this thesis attempts to explore how financial media construct the narratives of China’s economic globalisation through the deployment of comparative and multi-disciplinary approaches. Two outstanding elite financial magazines, Britain’s The Economist, which has a global readership and influence, and Caijing, China’s leading financial magazine, are chosen as case studies to exemplify differing media discourses, representing, respectively, Anglo-American and Chinese socio-economic and political backgrounds, as well as their own journalistic cultures. This thesis tries to answer the questions of how and why China’s neoliberal restructuring is constructed from a globally-oriented perspective. The construction primarily involves people who are influential in business and policymaking. Hence, the analysis falls into the paradigm of elite-elite communication, which is an important but relatively less developed perspective in studying China and its globalisation. The comparing of characteristics of narrative construction are the result of the textual analysis of articles published over a ten-year period (mid-1998 to mid-2008). The corpus of samples come from the two media outlets’ coverage of three selected events:China becoming a member of the World Trade Organization, its outward direct investment, and the listing of stocks of Chinese companies in overseas exchanges, which are mutually exclusive in sample collection and collectively exhaustive in the inclusion of articles regarding China’s economic globalisation. The findings help to understand that, despite language, socio-economic and political differences, elite financial media with globally-oriented readerships share similar methods of and approaches to agenda setting, the evaluation of news prominence, the selection of frame, and the advocacy of deeply rooted neoliberal ideas. The comparison of their distinctive features reflects the different phases of building up the sense of identity in their readers as global elites, as well as the different economic interests that are aligned with the corresponding readerships. However, textual analysis is only relevant in terms of exploring how the narratives are constructed and the elements they include; textual analysis alone prevents us from seeing the obstacles and the constrains of the journalistic practices of construction. Therefore, this thesis provides a brief discussion of interviews with practitioners from the two media, in order to understand how similar or different narratives are manifested and perceived, how the concept of neoliberalism deviates from and is justified in the Chinese context, and how and for what purpose deviations arise from Western to Chinese contexts. The thesis also contributes to defining financial media in the domain of elite communication. The relevant and closely interlocking concepts of globalisation, elitism and neoliberalism are discussed, and are used as a theoretical bedrock in the analysis of texts and contexts. It is important to address the agenda-setting and ideological role of elite financial media, because of its narrative formula of infusing business facts with opinions,which is important in constructing the global elite identity as well as influencing neoliberal policy-making. On the other hand, ‘journalistic professionalism’ has been redefined, in that the elite identity is shared by the content producer, reader and the actors in the news stories emerging from the much-compressed news cycle. The professionalism of elite financial media requires a dual definition, that of being professional in the understanding of business facts and statistics, and that of being professional in the making sense of stories by deploying economic logic.

Summary and Risks of ABS Transactions Under EU and US Law

This chapter examines the legal concept of summary in terms of its potential legal liability and other types of risks under EU and US disclosure laws.

Disclosures Of ABS Transaction Structure Under EU And US Law

This chapter examines the legal concept of transaction structures under EU and US law for asset-backed securities

Investigative journalism in Mexico: between ideals and realities. The case of Morelia

The aim of this paper is to analyse the state of the investigative journalism in Mexico, especially the one that is practiced at the local level in the provinces. That is, this research is based upon a case study conducted in Morelia, the capital city of the state of Michoacán. The empirical evidence will show that there is an evident divergence regarding the practice of the investigative journalism: on the one hand, journalists are aware of what this concept involves and they consider that they practice it on a regular basis; but, on the other, the content analysis prove otherwise. In other words, the account of what is actually printed significantly differs from the news workers’ perceptions, because the former shows a poorly developed journalistic investigation practice.

Rethinking Care Through Social Reproduction: Articulating Circuits of Migration

Care has come to dominate much feminist research on globalized migrations and the transfer of labor from the South to the North, while the older concept of reproduction had been pushed into the background but is now becoming the subject of debates on the commodification of care in the household and changes in welfare state policies. This article argues that we could achieve a better understanding of the different modalities and trajectories of care in the reproduction of individuals, families, and communities, both of migrant and nonmigrant populations by articulating the diverse circuits of migration, in particular that of labor and the family. In doing this, I go back to the earlier North American writing on racialized minorities and migrants and stratified social reproduction. I also explore insights from current Asian studies of gendered circuits of migration connecting labor and marriage migrations as well as the notion of global householding that highlights the gender politics of social reproduction operating within and beyond households in institutional and welfare architectures. In contrast to Asia, there has relatively been little exploration in European studies of the articulation of labor and family migrations through the lens of social reproduction. However, connecting the different types of migration enables us to achieve a more complex understanding of care trajectories and their contribution to social reproduction.

Hegel’s Non-Metaphysical Idea of Freedom

the article explores the putatively non-metaphysical – non-voluntarist, and even non-causal – concept of freedom outlined in Hegel’s work and discusses its influential interpretation by robert Pippin as an ‘essentially practical’ concept. I argue that Hegel’s affirmation of freedom must be distinguished from that of Kant and Fichte, since it does not rely on a prior understanding of self-consciousness as an originally teleological relation and it has not the nature of a claim ‘from a practical point of view’.

Law and Original Contract in the Republican Thought of Immanuel Kant

This article discusses the concept of right and its identification with the power to coerce, to show a reciprocity between the original contract and the right, as a manifestation of the reciprocity between moral law and freedom, as Kant states in its Second Critique. The demonstration of this view will allow a republican stance evident in the legal and political thought of Kant, since the right of a people can only exist while the town itself is unified to enact.

Of Marx and Makers: an Historical Perspective on Generative Justice

In Marxist frameworks “distributive justice” depends on extracting value through a centralized state. Many new social movements—peer to peer economy, maker activism, community agriculture, queer ecology, etc.—take the opposite approach, keeping value in its unalienated form and allowing it to freely circulate from the bottom up. Unlike Marxism, there is no general theory for bottom-up, unalienated value circulation. This paper examines the concept of “generative justice” through an historical contrast between Marx’s writings and the indigenous cultures that he drew upon. Marx erroneously concluded that while indigenous cultures had unalienated forms of production, only centralized value extraction could allow the productivity needed for a high quality of life. To the contrary, indigenous cultures now provide a robust model for the “gift economy” that underpins open source technological production, agroecology, and restorative approaches to civil rights. Expanding Marx’s concept of unalienated labor value to include unalienated ecological (nonhuman) value, as well as the domain of freedom in speech, sexual orientation, spirituality and other forms of “expressive” value, we arrive at an historically informed perspective for generative justice. 

Legal liability of coaches: a UK perspective

Attracting more coaches is fundamental to achievement of the European dimension in sport and the further promotion of sport in the European Union. Given the emerging relationship between the law and sports coaching, recruitment of such volunteers may prove problematic. Accordingly, this article critically considers the legal liability of sports coaches. To inform this debate, the issue of negligent coaching is critically scrutinised from a UK perspective, uncovering a number of distinct legal vulnerabilities facing volunteer coaches. This includes the inherent limitations of ‘objective reasonableness’ when defining the standard of care required in the particular circumstances. More specifically, fuller analysis of the justification of customary practice, and the legal doctrine of in loco parentis, reveals important ramifications for all organisations providing training and support for coaches. In short, it is argued that proactively safeguarding coaches from professional liability should be a priority for national governing bodies, and, following the recently published EU Work Plan for Sport for 2014–2017, the Expert Group on Human Resource Management in Sport. Importantly, given the EU’s supporting, coordinating and supplementing competence in developing the European dimension in sport, a Commission funded project to address the implications of the ‘compensation culture’ in sport is also recommended.

Chemoprevention in BRCA1 Mutation Carriers—A Proof-of-Concept Study

Background: Women with germline BRCA1 mutations have a high lifetime risk of breast cancer, with the only available risk-reduction strategies being risk-reducing surgery or chemoprevention. These women predominantly develop triple-negative breast cancers; hence, it is unlikely that selective estrogen receptor modulators (serms) will reduce the risk of developing cancer, as these have not been shown to reduce the incidence of estrogen receptor–negative breast cancers. Preclinical data from our laboratory suggest that exposure to estrogen and its metabolites is capable of causing dna double-strand breaks (dsbs) and thus driving genomic instability, an early hallmark of BRCA1-related breast cancer. Therefore, an approach that lowers circulating estrogen levels and reduces estrogen metabolite exposure may prove a successful chemopreventive strategy.

Aims: To provide proof of concept of the hypothesis that the combination of luteinizing-hormone releasing-hormone agonists (lhrha) and aromatase inhibitors (ais) can suppress circulating levels of estrogen and its metabolites in BRCA1 mutation carriers, thus reducing estrogen metabolite levels in breast cells, reducing dna dsbs, and potentially reducing the incidence of breast cancer.

Methods: 12 Premenopausal BRCA1 mutation carriers will undergo baseline ultrasound-guided breast core biopsy and plasma and urine sampling. Half the women will be treated for 3 months with combination goserelin (lhrha) plus anastrazole (ai), and the remainder with tamoxifen (serm) before repeat tissue, plasma, and urine sampling. After a 1-month washout period, groups will cross over for a further 3 months treatment before final biologic sample collection. Tissue, plasma, and urine samples will be examined using a combination of immunohistochemistry, comet assays, and ultrahigh performance liquid chromatography tandem mass spectrometry to assess the impact of lhrha plus ai compared with serm on levels of dna damage, estrogens, and genotoxic estrogen metabolites. Quality of life will also be assessed during the study.

Results: This trial is currently ongoing.

Catalyst screening: Refinement of the origin of the volcano curve and its implication in heterogeneous catalysis

Understanding the overall catalytic activity trend for rational catalyst design is one of the core goals in heterogeneous catalysis. In the past two decades, the development of density functional theory (DFT) and surface kinetics make it feasible to theoretically evaluate and predict the catalytic activity variation of catalysts within a descriptor-based framework. Thereinto, the concept of the volcano curve, which reveals the general activity trend, usually constitutes the basic foundation of catalyst screening. However, although it is a widely accepted concept in heterogeneous catalysis, its origin lacks a clear physical picture and definite interpretation. Herein, starting with a brief review of the development of the catalyst screening framework, we use a two-step kinetic model to refine and clarify the origin of the volcano curve with a full analytical analysis by integrating the surface kinetics and the results of first-principles calculations. It is mathematically demonstrated that the volcano curve is an essential property in catalysis, which results from the self-poisoning effect accompanying the catalytic adsorption process. Specifically, when adsorption is strong, it is the rapid decrease of surface free sites rather than the augmentation of energy barriers that inhibits the overall reaction rate and results in the volcano curve. Some interesting points and implications in assisting catalyst screening are also discussed based on the kinetic derivation. Moreover, recent applications of the volcano curve for catalyst design in two important photoelectrocatalytic processes (the hydrogen evolution reaction and dye-sensitized solar cells) are also briefly discussed.

The Role of Luxury Fashion Brands : A qualitative research of how the consumption of luxury fashion brands relate to young consumers' self-concept

The market for luxury brands has outpaced other consumption categories through its growth, and has been found in continuous development. As there is an increasing amount of luxury categories, the consumption of luxury fashion brands account for the largest proportion of luxury profits, and the marketing costs for such brands has shown to surpass those of other fashion categories. Consumer researchers have throughout decades emphasized how individuals participate in consumption behavior to form their self-concept in relation to brands. However, previous research has disregarded the multidimensional perspective regarding the theory of self-concept when examining the consumption of brands. Hence, the current research paper aims to strengthen the existing self-concept theory by exploring the role in which luxury fashion brands have by focusing on how the consumption of such brands relate, and contribute, to the consumer’s self-concept. By applying a qualitative method to investigate such purpose, and involving the existing theory of self-concept, brand image, and brand personality, it appeared that luxury fashion brands has a function to operate as a confidence booster for young consumers’ perception of their self-concept. In terms of the theoretical contribution of this paper, this research further illustrates how the theoretical explanation of brand image and brand personality relates to two different dimensions of the consumer’s self-concept. The consumption of luxury fashion brands has shown a significant role in individuals’ consumption behavior by emphasizing a striving, and motivating, part in the self-concept of young consumers.

Surrogacy under Indian Legal System: Legal and Human Rights Concerns

The advancements in medical science and technology have proved to be a boon to mankind. At the same time they have raised numerous challenges before the legal systems of the world. One such advancement is that of assisted human reproductive technologies and particularly surrogacy, which have given a new meaning to the concept of procreation. These technologies have made it possible for individuals to beget a genetically related child with the help of a third party and without sexual intercourse. Among all the assisted human reproductive technologies, the practice of surrogacy, in which women agree to have their bodies used to undergo a pregnancy and give birth to a baby for another, has raised various legal and human right controversies and diverse legal responses all over the world. India has particularly become a top destination for individuals who wish to beget a child through surrogacy and hence it is imperative for the Indian government to address the challenges posed by surrogacy. This study is an attempt to examine the need and importance of surrogacy practices and the conflicting legal and human rights issues raised by surrogacy in contemporary times. It also examines the adequacy of existing legal framework in India and attempts to provide pragmatic solutions for regulating surrogacy and protecting the interests of various stakeholders involved in surrogacy.

Sanctity of Human Life in the Context of Human Genetic Research

The study on the concept of sanctity of human life is a journey in finding out what is it said to be “human” in human life. It is an evaluation of the universal concept and the role it plays in controlling and moulding human conduct and relationships. This concept is a foundational principle of human rights law and the grundnorm of every legal system. However, of late, the challenges by way of certain advances in human genetic research had prompted the need to evaluate the significance and extent of the concept in human endeavours. Scientific advances by way of human genetic research promises significant diagnostic and therapeutic advances but at the same time pose threat to fundamental notions and assumptions on humanity, hence there is a global concern to derive common legal standards, Thus the major challenge is to analyse universal principles which can be a common criteria for evolving legal standards to control certain advances in human genetic research. Hence the relevance of the study. The study aims at analysing the content, scope, extent and limitation of the concept of sanctity of human life. In this attempt it evaluates the extent to which the concept had been accommodated by legal systems and international human rights regimes. The problem which had been undertaken in the study is the extent of intrusion made to the concept by virtue of certain advances in human genetic research.