Pub Date : 2022-07-03DOI: 10.1080/02529203.2022.2093055
Wang Lu
Abstract Metaphysics or the knowledge of knowledge itself is one of the main threads in the history of philosophy. Metaphysics is distinguished from “adding word” philosophy in that the latter is knowledge related to what the added words express. The essence of the distinction here is that metaphysics deals with what is a priori, while the study of adding word philosophies is empirical. Metaphysical inquiry always revolves around sentences, for knowledge is expressed in language, and sentences are the basic unit for the expression of knowledge. Sentences involve three aspects: at the linguistic level, the basic sentence pattern is “S is P”; at the level of sense, it is what language expresses; and at the reference level, the core concept is “truth.” Metaphysical inquiry always revolves around “being” and “truth,” and concerns the three levels above. The third level in particular reveals the conditions for the truth of a sentence, and helps explain the first two levels. We need to grasp the essence and characteristics of metaphysics and develop the study of metaphysics as a means of advancing philosophical research.
{"title":"On the Knowledge of Knowledge Itself","authors":"Wang Lu","doi":"10.1080/02529203.2022.2093055","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093055","url":null,"abstract":"Abstract Metaphysics or the knowledge of knowledge itself is one of the main threads in the history of philosophy. Metaphysics is distinguished from “adding word” philosophy in that the latter is knowledge related to what the added words express. The essence of the distinction here is that metaphysics deals with what is a priori, while the study of adding word philosophies is empirical. Metaphysical inquiry always revolves around sentences, for knowledge is expressed in language, and sentences are the basic unit for the expression of knowledge. Sentences involve three aspects: at the linguistic level, the basic sentence pattern is “S is P”; at the level of sense, it is what language expresses; and at the reference level, the core concept is “truth.” Metaphysical inquiry always revolves around “being” and “truth,” and concerns the three levels above. The third level in particular reveals the conditions for the truth of a sentence, and helps explain the first two levels. We need to grasp the essence and characteristics of metaphysics and develop the study of metaphysics as a means of advancing philosophical research.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"128 - 141"},"PeriodicalIF":1.1,"publicationDate":"2022-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46935815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093057
Cheng Sudong
Abstract The generative mechanism of the Book of Songs, the Classic of Music, the Book of Changes, the Spring and Autumn Annals and other texts attracted the attention of learned men during the Warring States period and the Qin and Han dynasties. Two views gradually took shape. One emphasized that texts display natural human emotions, and the generation of the text participates in the generation process in a natural, irrational way; the text is thus something natural. This view can be called the “sounds of nature” theory. The other emphasized that the text is the carrier of humankind’s rational spirit and independent character, and that the generation of text is a highly individualized, rational and technical process, so the resulting text is something man-made. This view can be called the “works of authorship” theory. The two conceptions of text production present different textual values and aesthetics. As seminal ideas, they have had a significant influence on the development of Chinese literary history, and their competition and convergence have constituted one of the driving forces behind its development.
{"title":"“Sounds of Nature” and “Works of Authorship”: The Formation of Two Concepts of Text Production","authors":"Cheng Sudong","doi":"10.1080/02529203.2022.2093057","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093057","url":null,"abstract":"Abstract The generative mechanism of the Book of Songs, the Classic of Music, the Book of Changes, the Spring and Autumn Annals and other texts attracted the attention of learned men during the Warring States period and the Qin and Han dynasties. Two views gradually took shape. One emphasized that texts display natural human emotions, and the generation of the text participates in the generation process in a natural, irrational way; the text is thus something natural. This view can be called the “sounds of nature” theory. The other emphasized that the text is the carrier of humankind’s rational spirit and independent character, and that the generation of text is a highly individualized, rational and technical process, so the resulting text is something man-made. This view can be called the “works of authorship” theory. The two conceptions of text production present different textual values and aesthetics. As seminal ideas, they have had a significant influence on the development of Chinese literary history, and their competition and convergence have constituted one of the driving forces behind its development.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"80 - 97"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41756450","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093063
Tao Feiya, Zou Zetao, Yang Enlu
Abstract The United States was hard hit by the great influenza pandemic of 1918. The national policy of putting the war first, the unprecedented scale of military training, and the worldwide troop movements and engagement created the conditions for the spread of the pandemic and at the same time seriously weakened US preparedness. The unprecedented pandemic threw American society into extreme panic and spawned all kinds of hypotheses about the pandemic’s geographic origin. Some of the press turned scientifically “tracing the flu” into a succession of pejorative geopolitical exonyms, stigmatizing it as “Spanish flu,” “Russian flu,” “German poisoning,” “Chinese plague,” etc. The groundless ascription of a geographic origin to the influenza pandemic was questioned at the time by insightful American medical professionals and even by Chinese medical experts. In the aftermath of the pandemic, tracking its source became a professional issue of pure medical science, with the search for the pathogen of the pandemic becoming a priority. The discovery and genetic sequencing of the 1918 influenza virus by scientists in the US and other countries led to landmark advances in the discovery of the pathogen, so the importance of tracing it back to its place of origin has taken a back seat. Although evidence of the geographic origin of the 1918 influenza pandemic is not conclusive, medical science has developed enough to disprove the ridiculous “geographic tracking” in the US during the pandemic.
{"title":"Stigmatization and Scientific Inquiry in the Tracing of the Origin of the 1918 Influenza Pandemic in the United States","authors":"Tao Feiya, Zou Zetao, Yang Enlu","doi":"10.1080/02529203.2022.2093063","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093063","url":null,"abstract":"Abstract The United States was hard hit by the great influenza pandemic of 1918. The national policy of putting the war first, the unprecedented scale of military training, and the worldwide troop movements and engagement created the conditions for the spread of the pandemic and at the same time seriously weakened US preparedness. The unprecedented pandemic threw American society into extreme panic and spawned all kinds of hypotheses about the pandemic’s geographic origin. Some of the press turned scientifically “tracing the flu” into a succession of pejorative geopolitical exonyms, stigmatizing it as “Spanish flu,” “Russian flu,” “German poisoning,” “Chinese plague,” etc. The groundless ascription of a geographic origin to the influenza pandemic was questioned at the time by insightful American medical professionals and even by Chinese medical experts. In the aftermath of the pandemic, tracking its source became a professional issue of pure medical science, with the search for the pathogen of the pandemic becoming a priority. The discovery and genetic sequencing of the 1918 influenza virus by scientists in the US and other countries led to landmark advances in the discovery of the pathogen, so the importance of tracing it back to its place of origin has taken a back seat. Although evidence of the geographic origin of the 1918 influenza pandemic is not conclusive, medical science has developed enough to disprove the ridiculous “geographic tracking” in the US during the pandemic.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"55 - 79"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46833891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093060
Zhang Yuyan, F. Weijiang
Abstract China is tasked with attaining the great rejuvenation of the Chinese nation and facing global changes unseen in a century. To this end, a pressing task for China’s national security studies in the new era, under the guidance of a holistic concept of national security, is to provide an analytical framework and scholarly insights. Seven theoretical propositions can be derived when we clarify the relationships between security level, security capability, and security threats. They are: absolute security is out of reach; growing security investment that eyes absolute security will create a security dilemma; under closed conditions, the country should put the brakes on building relative security when it achieves equilibrium security; under open conditions, hegemonic powers may generate security capabilities that exceed equilibrium security and tend to “protect” or prey on countries whose development has relatively high output efficiency rather than those whose security capabilities have relatively high output efficiency; and following separate technical routes for dealing with intentional and unintentional threats may achieve a higher security level than managing in an undifferentiated way. The “Great Yu Improvement” pattern is pivotal to “Building a Community with a Shared Future for Mankind” as it can transform other actors’ capacity to address intentional threats into a capacity for shielding oneself against unintentional threats; and appropriate allocation of excessive security capability and stronger national system security capability are major solutions to the uncertain nature of security threats.
{"title":"A Theoretical Outline for National Security Studies for the New Era","authors":"Zhang Yuyan, F. Weijiang","doi":"10.1080/02529203.2022.2093060","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093060","url":null,"abstract":"Abstract China is tasked with attaining the great rejuvenation of the Chinese nation and facing global changes unseen in a century. To this end, a pressing task for China’s national security studies in the new era, under the guidance of a holistic concept of national security, is to provide an analytical framework and scholarly insights. Seven theoretical propositions can be derived when we clarify the relationships between security level, security capability, and security threats. They are: absolute security is out of reach; growing security investment that eyes absolute security will create a security dilemma; under closed conditions, the country should put the brakes on building relative security when it achieves equilibrium security; under open conditions, hegemonic powers may generate security capabilities that exceed equilibrium security and tend to “protect” or prey on countries whose development has relatively high output efficiency rather than those whose security capabilities have relatively high output efficiency; and following separate technical routes for dealing with intentional and unintentional threats may achieve a higher security level than managing in an undifferentiated way. The “Great Yu Improvement” pattern is pivotal to “Building a Community with a Shared Future for Mankind” as it can transform other actors’ capacity to address intentional threats into a capacity for shielding oneself against unintentional threats; and appropriate allocation of excessive security capability and stronger national system security capability are major solutions to the uncertain nature of security threats.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"16 - 35"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48832219","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093069
Hu Bin, Zheng Liansheng, Li Juncheng
Abstract The COVID-19 pandemic, the regulation of real estate, and external uncertainties are the core variables in the recent evolution of China’s financial risks, and overall planning and structural deployment are the key guarantees for China’s financial stability. From an aggregate perspective, China’s systemic financial risk tended to ease overall in 2021, but remained high. The risk profile of China’s financial system in 2021 presented five important features. First, the macro leverage ratio fell slightly, but exposed the hidden dangers of balance sheet recession. Second, there was a certain blockage in the transmission of financial system liquidity to the real economy. Third, the fragility of the financial system was further exposed, the bond default balance reached a new high, the structural differentiation of bonds between state-owned and private enterprises became prominent, and private enterprise default became more serious. Fourth, the contagion effect of domestic cross-market financial risks remained significant. Fifth, the international political and economic situation was volatile, and spillover effects such as the rising prices of raw materials, the inauguration of a new US administration, and the shift of the Federal Reserve’s monetary policy were significantly strengthened. In terms of key risk areas, the risks of the real estate market, hidden government debt, and small- and medium-sized domestic banks were quite prominent. in 2022, pandemic prevention and control, economic recovery, and structural upgrading will remain the main themes of China’s development. China’s financial risks are generally under control, but the country will still face major risks such as a high macro leverage ratio, tight market liquidity, increasing debt vulnerability, significant spillover effects, and rising volatility in the international market.
{"title":"China’s Systemic Financial Risk: Basic Dimensions, Key Areas, and Evolving Trends","authors":"Hu Bin, Zheng Liansheng, Li Juncheng","doi":"10.1080/02529203.2022.2093069","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093069","url":null,"abstract":"Abstract The COVID-19 pandemic, the regulation of real estate, and external uncertainties are the core variables in the recent evolution of China’s financial risks, and overall planning and structural deployment are the key guarantees for China’s financial stability. From an aggregate perspective, China’s systemic financial risk tended to ease overall in 2021, but remained high. The risk profile of China’s financial system in 2021 presented five important features. First, the macro leverage ratio fell slightly, but exposed the hidden dangers of balance sheet recession. Second, there was a certain blockage in the transmission of financial system liquidity to the real economy. Third, the fragility of the financial system was further exposed, the bond default balance reached a new high, the structural differentiation of bonds between state-owned and private enterprises became prominent, and private enterprise default became more serious. Fourth, the contagion effect of domestic cross-market financial risks remained significant. Fifth, the international political and economic situation was volatile, and spillover effects such as the rising prices of raw materials, the inauguration of a new US administration, and the shift of the Federal Reserve’s monetary policy were significantly strengthened. In terms of key risk areas, the risks of the real estate market, hidden government debt, and small- and medium-sized domestic banks were quite prominent. in 2022, pandemic prevention and control, economic recovery, and structural upgrading will remain the main themes of China’s development. China’s financial risks are generally under control, but the country will still face major risks such as a high macro leverage ratio, tight market liquidity, increasing debt vulnerability, significant spillover effects, and rising volatility in the international market.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"38 1","pages":"102 - 124"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59717191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093072
Feng Yongfu, Hua Xia, Gao Jinkang
Abstract This study investigates the basic numeric characteristics of Chinese A-share market index volatility (i.e., the clustering, heteroscedasticity, and jumps) from the perspective of data mining. It presents a theoretical-empirical model based on these three major characteristics and conducts a maximum likelihood estimation to study Chinese A-share market return data empirically. Results show that, in full-sample or special periods, this model calibrates the A-share index volatility well and simulates in-sample volatility better than the four major empirical models adopted to study volatility. In out-of-sample forecasts, this model performs better than the other four models on the value-at-risk dates, which are the volatile days. This model can also decompose and explain the volatility of the Chinese A-share index. On the basis of GARCH, this study revises the volatility model proposed by Maheu and extends Engle’s research framework. Thus, this model is of theoretical significance. This model’s simulation and forecast functioning can contribute to regulatory expectation management and investment portfolio construction.
{"title":"The Numeric Characteristics of Chinese A-Share Market Index Volatility, Model Simulation, and Forecasting","authors":"Feng Yongfu, Hua Xia, Gao Jinkang","doi":"10.1080/02529203.2022.2093072","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093072","url":null,"abstract":"Abstract This study investigates the basic numeric characteristics of Chinese A-share market index volatility (i.e., the clustering, heteroscedasticity, and jumps) from the perspective of data mining. It presents a theoretical-empirical model based on these three major characteristics and conducts a maximum likelihood estimation to study Chinese A-share market return data empirically. Results show that, in full-sample or special periods, this model calibrates the A-share index volatility well and simulates in-sample volatility better than the four major empirical models adopted to study volatility. In out-of-sample forecasts, this model performs better than the other four models on the value-at-risk dates, which are the volatile days. This model can also decompose and explain the volatility of the Chinese A-share index. On the basis of GARCH, this study revises the volatility model proposed by Maheu and extends Engle’s research framework. Thus, this model is of theoretical significance. This model’s simulation and forecast functioning can contribute to regulatory expectation management and investment portfolio construction.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"161 - 179"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43006385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093070
L. Xin, Tao Ran, Z. Lü
Abstract The purpose of this paper is to explore a model of efficient allocation of financial resources in China and other Belt and Road countries to ensure it plays the most effective economic role. In terms of financial resources, this paper uses a fixed effects model to conduct an empirical study of 2006-2019 panel data on the financial resources of Belt and Road countries. The paper finds that the role of financial resources varies from country to country along the Belt and Road. 1) In some regions, increased bank credit is playing a less important role in driving the economy; 2) Securities markets have an important role in promoting economic growth; 3) The insurance industry has great potential for economic development; 4) Foreign direct investment has boosted economic development. Hence we need to face up to the fact that the role of financial resources in economic growth varies from country to country along the Belt and Road, so we need to formulate the corresponding strategies to optimize financial resources and promote the sustainable development of Belt and Road economies.
{"title":"Financial Resources Allocation and Its Economic Impact in Belt and Road Countries","authors":"L. Xin, Tao Ran, Z. Lü","doi":"10.1080/02529203.2022.2093070","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093070","url":null,"abstract":"Abstract The purpose of this paper is to explore a model of efficient allocation of financial resources in China and other Belt and Road countries to ensure it plays the most effective economic role. In terms of financial resources, this paper uses a fixed effects model to conduct an empirical study of 2006-2019 panel data on the financial resources of Belt and Road countries. The paper finds that the role of financial resources varies from country to country along the Belt and Road. 1) In some regions, increased bank credit is playing a less important role in driving the economy; 2) Securities markets have an important role in promoting economic growth; 3) The insurance industry has great potential for economic development; 4) Foreign direct investment has boosted economic development. Hence we need to face up to the fact that the role of financial resources in economic growth varies from country to country along the Belt and Road, so we need to formulate the corresponding strategies to optimize financial resources and promote the sustainable development of Belt and Road economies.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"125 - 143"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47262606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093071
Cheng Lian, Luo Junru, Liu Lin
Abstract This article provides a new framework to evaluate the status of Renminbi internationalization. It proposes that the trading patterns of a currency in the global foreign exchange market embody the currency’s position in the international monetary system. Based on foreign exchange trading data provided by CLS Group, the article constructs a ranking of major international currencies including the Renminbi. It finds that the Renminbi shares more similarities in foreign exchange trading patterns with the established global currencies like the US dollar and the Euro than with those regional currencies. The article also explores the policy implications that the new evaluation approach provides.
{"title":"Is the Renminbi a Global Currency? An Evaluation Based on Offshore Foreign Exchange Market Trading Patterns","authors":"Cheng Lian, Luo Junru, Liu Lin","doi":"10.1080/02529203.2022.2093071","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093071","url":null,"abstract":"Abstract This article provides a new framework to evaluate the status of Renminbi internationalization. It proposes that the trading patterns of a currency in the global foreign exchange market embody the currency’s position in the international monetary system. Based on foreign exchange trading data provided by CLS Group, the article constructs a ranking of major international currencies including the Renminbi. It finds that the Renminbi shares more similarities in foreign exchange trading patterns with the established global currencies like the US dollar and the Euro than with those regional currencies. The article also explores the policy implications that the new evaluation approach provides.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"144 - 160"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44958816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093062
Wang Xixin
Abstract The bundle of personal information rights refers to a set of rights belonging to the subject of personal information, including the right to know, decide, inquire, correct, copy, delete, etc. Such a bundle of rights is usually understood in Chinese civil rights legal circles as a civil right falling under the paradigm of individual autonomy and control, and is interpreted as a specific right to personal information. This understanding somewhat misinterprets the nature and function of the bundle of personal information rights. In terms of its nature, the bundle of personal information rights is the outcome of the state’s obligation to actively protect and empower individuals through institutional safeguards, and is thus essentially a means and a tool of protection granted to individuals by the state under the concept of protective law. In terms of its function, the bundle of personal information rights is both a tool enabling individuals to check and counterbalance processors of information and a strategy for the state to regulate data processors. Understanding the nature and functions of the bundle of rights from the perspective of state protection and regulation strategies helps to construct a fairer, more transparent and rational order of public law data governance under the concept of protective law and promotes the structural optimization and capacity enhancement of the data governance system. As an instrumental right under the state’s regulatory strategy, the implementation of the bundle of personal information rights needs to focus on facilitating the individual’s knowledge, participation and ability to negotiate under procedural justice, as well as the reasonable allocation of rights and obligations between individuals and information processors under distributive justice, with a view to continuously developing and enhancing the state’s regulatory rationality.
{"title":"The Bundle of Personal Information Rights from the Perspective of State Protection","authors":"Wang Xixin","doi":"10.1080/02529203.2022.2093062","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093062","url":null,"abstract":"Abstract The bundle of personal information rights refers to a set of rights belonging to the subject of personal information, including the right to know, decide, inquire, correct, copy, delete, etc. Such a bundle of rights is usually understood in Chinese civil rights legal circles as a civil right falling under the paradigm of individual autonomy and control, and is interpreted as a specific right to personal information. This understanding somewhat misinterprets the nature and function of the bundle of personal information rights. In terms of its nature, the bundle of personal information rights is the outcome of the state’s obligation to actively protect and empower individuals through institutional safeguards, and is thus essentially a means and a tool of protection granted to individuals by the state under the concept of protective law. In terms of its function, the bundle of personal information rights is both a tool enabling individuals to check and counterbalance processors of information and a strategy for the state to regulate data processors. Understanding the nature and functions of the bundle of rights from the perspective of state protection and regulation strategies helps to construct a fairer, more transparent and rational order of public law data governance under the concept of protective law and promotes the structural optimization and capacity enhancement of the data governance system. As an instrumental right under the state’s regulatory strategy, the implementation of the bundle of personal information rights needs to focus on facilitating the individual’s knowledge, participation and ability to negotiate under procedural justice, as well as the reasonable allocation of rights and obligations between individuals and information processors under distributive justice, with a view to continuously developing and enhancing the state’s regulatory rationality.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"36 - 54"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43901766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-03DOI: 10.1080/02529203.2022.2093073
L. Bai, Zhang Ailian, Pan Mengmeng
Abstract The development of financial technology has made financial sub-markets increasingly interconnected, and this interdependence magnifies the instability of financial markets and the possibility of risk. The literature documents the relation of financial sub-markets from time domain, but empirical evidence that effectively identify the patterns of co-movement of multiple financial sub-markets from frequency domain is lacking. This study assesses the dynamic relationship among interest rates, stock prices and exchange rates in China from January 2006 to December 2021 using the Wavelet model. Furthermore, we introduce the TVP-VAR-SV model to study whether the dynamic relationship has changed structurally under the impact of COVID-19. We find the following: 1) with the deepening of the financial market and the improvement of the informatization level, the frequency of risk transmission among financial sub-markets decreases, and the linkage relationship changes from frequent linkage in the medium term to relatively stable linkage relationship in the long term; 2) the relationship between the three variables in short-term fluctuations is more complex, while the relationship between financial variables in long-term fluctuations is more stable; 3) after the outbreak of COVID-19, the positive impact of interest rates and stock prices has brought about a larger range of changes in exchange rate volatility, with a longer impact period and a stronger linkage.
{"title":"The Dynamic Relationship of China’s Financial Sub-Markets: From the Perspective of Risk and Stability","authors":"L. Bai, Zhang Ailian, Pan Mengmeng","doi":"10.1080/02529203.2022.2093073","DOIUrl":"https://doi.org/10.1080/02529203.2022.2093073","url":null,"abstract":"Abstract The development of financial technology has made financial sub-markets increasingly interconnected, and this interdependence magnifies the instability of financial markets and the possibility of risk. The literature documents the relation of financial sub-markets from time domain, but empirical evidence that effectively identify the patterns of co-movement of multiple financial sub-markets from frequency domain is lacking. This study assesses the dynamic relationship among interest rates, stock prices and exchange rates in China from January 2006 to December 2021 using the Wavelet model. Furthermore, we introduce the TVP-VAR-SV model to study whether the dynamic relationship has changed structurally under the impact of COVID-19. We find the following: 1) with the deepening of the financial market and the improvement of the informatization level, the frequency of risk transmission among financial sub-markets decreases, and the linkage relationship changes from frequent linkage in the medium term to relatively stable linkage relationship in the long term; 2) the relationship between the three variables in short-term fluctuations is more complex, while the relationship between financial variables in long-term fluctuations is more stable; 3) after the outbreak of COVID-19, the positive impact of interest rates and stock prices has brought about a larger range of changes in exchange rate volatility, with a longer impact period and a stronger linkage.","PeriodicalId":51743,"journal":{"name":"中国社会科学","volume":"43 1","pages":"180 - 208"},"PeriodicalIF":1.1,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45716166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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