The global economic cost of coronavirus pandemic: current and future implications

PurposeThe global economy is plagued by an unprecedented shock that has devastated economic growth under the coronavirus pandemic. The prolonged movement control orders, social distancing, and lockdowns have triggered the global economic downturn, disrupted the demand and supply chains, reduced the pool of workforce, and caused many jobs loss. This paper aims to analyze the global economic cost of the coronavirus pandemic, and its current and future implications.Design/methodology/approachBased on contingency theory, this paper provides an in-depth analysis of the current situation on the global economic cost of the COVID-19 outbreak and gives insights from an organizational perspective.FindingsThis paper found that the world has witnessed far-ranging economic consequences due to the coronavirus pandemic in four aspects: (i) decline in personal consumption; (ii) decline in the investments and stock prices in capital market; (iii) decline in government spending in developmental projects and increase in new borrowing; and (iv) decline of exports of goods to international markets.Originality/valueThe novelty lies in investigating the effects of the COVID-19 pandemic on micro and macroeconomic levels — the components of GDP, consumer behavior, business investments, government spending, and global exports. The paper suggests the need for urgent actions by the world leaders to oversee, anticipate, and manage the risks and cushion the economic consequences. It concludes that the flexibility and adaptability of leaders, effectiveness, workforce protection, efficient use of modern technology, including automation and artificial intelligence, would enhance the resilience of supply chains which will support organizations to sustain in this critical time.

How to select good leaders in Asian countries: the case of China and Singapore

PurposeThe purpose of this paper is to bring out the possibility of selecting good leaders in Asian countries, i.e., China and Singapore.Design/methodology/approachSince comparative historical analysis enhances the objectivity for academic discussion, Deng Xiaoping’s and Lee Kuan Yew’s leadership successions have been chosen as the cases for studies by virtue of “method of agreement”. Incorporating “argument based on the contrary” into the context for macro-historical analysis, this paper characterises the duo’s successful (at least quite successful) leadership successions, thus offering an alternative paradigm beyond Western-style democracy.FindingsBoth cases of post-Mao China and the independent Singapore indicate that in quite a number of Asian countries, good leaders could still be selected beyond universal suffrage as practised among Western Electoral Democracies, mainly because of the elites-driven context. As to the duo’s succession results, Deng Xiaoping’s selection of leaders was somewhat successful, while Lee Kuan Yew’s was phenomenal.OriginalityThis paper offers readers a glance over the possibility of selecting good leaders in Asian countries not fully based on Western-style democracy. Learning from the duo’s leadership successions, the West may treat elite politics as the supplement under Western Electoral Democracies in order to avoid their countries falling into the trap of populism. The West could meanwhile consider the exceptional criteria prized by the duo for leadership successions. Considering such interactions among elites in the real-life context, it could serve as an alternative model to Western-style democracy.

Upholding parental responsibility by family mediation: revisiting the role of the law for children in divorce in Hong Kong

PurposeThis paper aims to analyse the different requirements of Practice Direction 15.10 (which governs the process of family mediation in Hong Kong) and Practice Direction 31 (which governs the process of general mediation in Hong Kong), and to highlight the need to incorporate the spirit of family mediation into legislation to better protect children’s interest in a family dispute.Design/Methodology/approachThe paper reviews and compares the content on Practice Direction 15.10 and Practice Direction 31 issued by Chief Justice of the Hong Kong Court of Final Appeal, and adopts interpretative and analytical approaches to evaluate their impact.FindingsIn an effort to promote parental responsibility-based negotiation in divorce proceeding, a missed opportunity in enacting the Children Proceedings (Parental Responsibility) Bill in 2015 might be a blessing in disguise as it offers another chance for policy makers to consider how to direct parties to negotiate and communicate, to seek and benefit from professional guidance on a continuous basis, and to seek alternative channels to resolve disputes other than the court room. The policy and the law advocating a switch from a “rights-based” to “responsibility-based” approach in handling children’s matters should be revisited by incorporating the spirit of family mediation into legislation.Originality/valueAnalyses are conducted through direct contextual review and documentary research. This paper conducts literal analysis of court guidance and unveils policy implications for the general public. It would be of interest to judicial officers, scholars and government officials concerning children’s rights and parental responsibility in divorce proceedings.

The National Security Law: political and social effects on the governance of the Hong Kong Special Administrative Region

PurposeThe purpose of this paper is to identify the major political and social effects of the Hong Kong National Security Law on Hong Kong. It is argued that the enactment of this Law allows Hong Kong not only to end its protracted political turmoil since its return to China in 1997, but also will generate the favorable conditions for long-term stability and effective governance in the territory.Design/methodology/approachThis paper is based on the author’s close observation of what had happened in Hong Kong in the year since the Hong Kong National Security Law came into effect on 1 July 2020.FindingsThe Hong Kong National Security Law has brought about significant changes in the political psychology of Hongkongers, the balance of power among different political forces, the ability of external forces to interfere in Hong Kong politics, the way Hong Kong is governed, the relationship between the government and the legislature, the activities in the educational and cultural sectors, and the behavior of the judiciary.Originality/valueThis paper would be of interest to scholars and people who are interested in the implementation of “One Country, Two Systems” in the Hong Kong Special Administrative Region (SAR) as well as Beijing’s new policy towards Hong Kong in the aftermath of Hong Kong’s unprecedented riots and violence.

The challenges facing the next Chief Executive of Hong Kong in 2022: managing growth, conflict, change and continuity

PurposeThis article outlines the challenges faced by the next Chief Executive of the Hong Kong Special Administrative Region (HKSAR) in 2022 – the need to address economic problems resulting from Hong Kong’s slow growth; its inability to restructure its economy to broaden job opportunities and improve upward mobility for young people; and the government’s belated attempt to deploy innovation and technology.Design/methodology/approachThis article is based on the author’s in-depth analysis of the current situation and insights on the challenges faced by the next Chief Executive.FindingsTensions are inherent in the concept of “One Country, Two Systems”. Back in November 2012, Deputy Director of the Hong Kong and Macao Office Zhang Xiaoming already reminded Hong Kong of the need to manage well three sets of relationships: (1) maintaining the “One Country” principle while preserving the SARs’ “separate systems”; (2) upholding Central Authority while preserving the SARs’ “high degree of autonomy”; and (3) unleashing the economic potential of mainland China while raising the competitiveness of the SARs. These three sets of relationships represent three fundamental difficulties in implementing “One Country, Two Systems”. However, Hong Kong kept ignoring Beijing’s advice and failed to resolve the tension between the mainland and Hong Kong SAR, culminating in the riotous events of 2019, which morphed into a dangerous, anti-China insurgency.Originality/valueThe next Chief Executive needs to mediate between the constitutional requirements of the Central Authority while preserving Hong Kong SAR’s “high degree of autonomy”, its unique character and lifestyle. He or she also needs to deal with continuity and change. Hong Kong cannot stand still, and should not allow itself to be lulled by the “50 years no change” mantra into overlooking the need to move with the times. Much reform needs to be implemented by the next Chief Executive to give people hope, faith in “One Country, Two Systems” and true love of the country.

Evaluation of generic competencies among secondary school leavers from the new academic structure for senior secondary education in Hong Kong

PurposeA new academic structure for senior secondary and higher education was introduced to Hong Kong in 2009/2010. This paper aims to: (1) compare the cohort from the old academic structure (Cohort 2010) and the cohort from the new academic structure (Cohort 2015) on the 14 categories of generic competencies; and (2) compare these attributes among students from different divisions in a tertiary institution in Hong Kong.Design/methodology/approachSelf-Assessment of All-Round Development (SAARD) questionnaires were distributed to students who took the two-year sub-degree programmes offered by the College of Professional and Continuing Education, The Hong Kong Polytechnic University in 2010 and 2015 on a self-administered basis. A total of 4,424 students have returned the questionnaires. Data were analyzed with t-test to compare between the two cohorts.FindingsWhen comparing Cohort 2015 with Cohort 2010, significantly higher scores were observed on five areas such as global outlook and healthy lifestyle (p<0.05). Significantly lower scores were observed on the other five areas such as problem solving, critical thinking and leadership (p<0.05). Students from all divisions unanimously showed higher perceived rating on social and national responsibility but lower perceived rating on leadership (p<0.05).Originality/ValueThe elimination of one public examination, the newly included components such as Other Learning Experiences (OLE) and the compulsory Liberal Studies were believed to contribute partially to the diverse responses of the two cohorts. The dramatic change of the curriculum has not changed the examination culture in Hong Kong which may hinder the development of generic skills among students.

Breaking the cycle of failure in combating corruption in Asian countries

PurposeThe purpose of this paper is to identify the five mistakes made by political leaders in Asian countries in combating corruption. These mistakes constitute the cycle of failure which must be broken for Asian countries to succeed in fighting corruption.Design/methodology/approachThis paper is based on the comparative evaluation of the effectiveness of the anti-corruption measures adopted by various Asian countries.FindingsThe cycle of failure in combating corruption in Asian countries arises from their governments’ reliance on corrupt political leaders and the police, and multiple anti-corruption agencies as attack dogs or paper tigers.Originality/valueThis paper would be of interest to those policymakers, anti-corruption practitioners, and scholars, who are concerned with enhancing the effectiveness of anti-corruption strategies in their countries by breaking the cycle of failure.

Sovereign wealth funds and corporate social responsibility: a comparison of Norway’s Government Pension Fund Global and Abu Dhabi Fund for Development

PurposeThe purpose of this paper is to critically discuss the participation of sovereign wealth funds (SWFs) in the corporate social responsibility (CSR) programmes. Sovereign wealth funds in emerging economies are often involved in corporate social responsibility. However, the 1 Malaysian Development Berhad (1MDB) scandal illustrates the possible use of SWF as a vehicle for corruption and abuse.Design/methodology/approachThe primary objective is to develop good governance practices of CSR by SWFs that could limit corrupt practices. A case study approach is adopted to investigate the CSR involvement of two SWFs – Norway’s Government Pension Fund Global (GPFG) and Abu Dhabi Fund for Development (ADFD).FindingsThe finding shows that SWFs should not be directly involved in CSR. It is proposed that independent Non-government Organisations (NGOs), through a competitive funding model, could serve the CSR purpose of SWFs more effectively and bring socio-economic changes in emerging economies.Originality/valueThe funding model identifies the expected outcomes, priorities and uses of the funds. The funding committee should also be independent of the Board and transparent in its allocations.