This study comprehensively analyzed the development status and characteristics of major new industries, the growth strategy of innovative enterprises and those new industries’ sources of competitiveness, centering on Shenzhen, China, a representative innovative city in China. Shenzhen City is developing 5G, robots, system semiconductors and electric vehicles into key new industries. Analysts say that the reason for the rapid development of these and other new industries in Shenzhen is that they utilize elements of the ICT technologies, balanced industrial ecosystems and commercialization capabilities in the Shenzhen area. The number of PCT patent applications in Shenzhen area accounts for 45.6 percent of all such applications in China, and is considered the most advanced technology accumulation area in China as research and development is carried out around private innovative companies. In terms of industrial ecology, Shenzhen is also the world’s best: based on the number of SMEs, the number of startups and the innovation of large companies and startups, Shenzhen City boasts a global level. In terms of commercialization capacity, Shenzhen’s economy is the most active in China, and the large companies that have emerged from startups include global companies including Tencent, DJI, ZTE and Huawei. It is urgent to design new Korea-China cooperation measures in new industries in Shenzhen, such as 5G, robots, system semiconductors, and electric cars, where industrial innovation is occuring rapidly.

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The Trump administration has responded to the Chinese pursuit of a hegemony with the “Free, Open Indo-Pacific Strategy (FOIP strategy).” This paper analyzes its intentions and implementation measures by examining the two government documents of ‘Indo-Pacific Strategy Report: Preparedness, Partnership and Promoting a Networked Region,’ and ‘Indo-Pacific: Advancing a Shared Vision. ’ Reflecting the republican liberal dichotomous perspective of good and evil, the FOIP strategy views US as pursuing a free vision and China as doing a repressive one of the world. It identifies China as the greatest threat to US, challenging the liberal international order and trying to capture a hegemony in the Western Pacific areas, particularly Southeast Asia. The FOIP strategy purports to contain and frustrate the Chinese hegemonic pursuit in the Indo-Pacific region by strengthening a alliance or semi-alliance relationship, establishing a strategic partnership or continuing engagement with the countries in the region. However, most of the Southeast Asian states are skeptical of the FOIP strategy. Considering the regional states’ strategies towards the US-China rivalry, including the regional institutional balancing against it and the flexible bilateral responses to it, such as balancing, bandwagoning and hedging, to promote national or leaders’ political interests, the effective FOIP strategy should take on a pragmatic and strategic rather than a value-laden exceptionalist approach.

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China’s rapid GDP growth and the widening trade deficit with the United States have raised concerns about China’s economic growth. In 2010, Edward Steinfeld, then professor of MIT, argued that China’s rise poses no threat to the United States and advanced Western countries as it plays the games under the rules made by the United States. But there have also been warnings that China’s technological upgrade is no longer compatible with the U.S.-led globalization. US officials criticize “Made in China 2025” as “crimes, not technology upgrading,” which aim to raise the country’s self-sufficiency in core technologies, parts, and materials in the high-tech industry to 40 percent by 2020 and 70 percent by 2025. This paper discusses whether strategic competition between the US and China poses a threat to the U.S.-led world order with the case studies in the field of AI and 5G, and looks at how strategic competition between the US and China, the main actors of the international order, is making any interaction with existing globalization. Advances in technologies such as 5G and AI are promoting a cross-border movement of services, which can shock the United States and China in different ways. In the case of the US, the US has begun to tighten its control over foreign immigration to protect manufacturing sectors in the US after Trump’s presidency. If the border movement of services becomes more active, services could be outsourced more broadly without the physical flow of immigrants, and it will have a big impact on the local labor market. In China’s case, despite its competitiveness in AI and 5G technologies that promote cross-border movement of information and services, it is likely to be used to maintain the Communist Party’s authoritarian rule more efficiently than to encourage free movement of information and services. There is also a strong trend to establish a mutually exclusive system, as the US administration encourages allies to refrain from using Huawei networking equipment, and China takes action against them. However, there is also the possibility of establishing a multipolar order where mutual competition and cooperation coexist, unlike the Cold War era.

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Recent trade dispute between US and China is so fierce as war. It seems to be due to the international economic policy of the US, so-called “America First.” In a modern society, because a country’s policy is deeply related with national economy, foreign trade disputes have a significant impact on its own interests. On the other hand, the intellectual property right based on High technology is important for the national security and future economy, so each country are focused on preventing and protecting infringement of it. In particular, the US-China trade war is expanding to the technological warfare in terms of the protection of their own intellectual property right. China, recognized that the trade dispute will be prolonged, has been enacting related policies and laws on its own technology. Chinese central government is making its efforts into supporting the artificial intelligence(AI) which is one of the future industries, Thus, the paper studies the main policy and the applied technologies of China. The paper, first of all, examines the history of the development of AI artificial intelligence technology of China, and its policies and laws to be fostering its development. Besides, it analyzes the industrial sectors where AI is currently applied so as to figure out the problem on the theory and practical application of AI technology policy. Based on the current policies of China on the AI technology, the paper examines how it differs from the US in AI policy. Through the study, it will provide an important implication to Korea’s AI policy.

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In order to solve the legislative cannot timely response to the new problems brought by the social transformation, the judicial organs will not explicitly stipulated in the criminal law of the illegal management behavior “expansion” to the miscellaneous provisions of crime of illegal business operation, application expansion variation leads to crime of illegal business out of, severely impact the clarity of the crime legal principle, and leads to abuse the power of criminal penalty and civil rights violations. The high abstraction in legislation and the alienation in judicature lead to the expansion and variation of the clause of illegal business operation, which in essence is the conflict between the function of protecting human rights and the function of protecting legal interests, and the root cause is the conflict between economic freedom and state intervention. The narrowed ways to resolve the conflict include avoiding the conflict and applying the civil law, administrative law or other specific charges to protect the interests as far as possible. In balancing conflicts, under the premise of protecting the interests of the law, judicial interpretations, guiding cases, indictments and judgments should, as far as possible, implement the principle of clarity. Conflict game, the function of legal interest protection is greater than the function of human rights protection can be applied to the miscellaneous provisions of crime of illegal business operation. Through the analysis of the predicament in the judicial application of the provisions on the miscellaneous provisions of crime of illegal business operation, the reasons for the expansion and variation of the application are abstractly extracted, the rational analysis is made from the perspective of the principle of clarity, the essence and root of the conflict are dug out, and the narrowed ways are put forward. In order to narrow the abuse of the right of punishment and protect the human rights of citizens, we should narrow the scope of application of the provisions on the underpayment of he miscellaneous provisions of crime of illegal business operation to the maximum extent through the above-mentioned ways to solve the conflicts.

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In order to encourage new ventures and try to create a more friendly business environment to attract investors, in recent years, Taiwan has amended the company law to give enterprises more flexibility and loosen many laws and regulations. One of the major amendments is the comprehensive introduction of Par value stock system. The stocks issued by the company constitute the company's capital, and denominated or non-denominated stocks are involved, which involves the company's capital structure, shareholders' equity, accounting and tax issues. The introduction of the non-par value stock system in Taiwan can be said to be a major change in the overall capital system norms. It is no longer misled by the traditional concept of "capital" multiplied by the total number of stocks issued, enabling shareholders and creditors to pay more attention to the company's operating performance as well as the real asset situation, and taking into account the company's funding needs. Recognizing the theoretical misunderstanding and lack of functions of denominated stocks, many scholars in the mainland have already discussed the existence and abolition of the denominated stocks system, and many have called for the introduction of the denominated shares system. However, for the reform of a legal system, the first consideration should still be whether the mainland has a need to implement a no-denomination stocks system. Considering that the mainland has gradually moved from capital credit to asset credit on the corporate legal system in recent years, there is indeed a practice for the no par value stock system. In light of the above requirements, the amendment of the company law in Taiwan should be of great significance to the legal system of promoting the no-denomination stock system in the mainland of China.

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This paper analyzed the competitiveness of export to ASEAN of the three East Asian countries by utilizing the Constant Market Share(CMS) model according to the BEC code classification from the perspective of GVC. An analysis of 2001 to 2016 divided into three sections showed that South Korea's competitiveness continues to rise; China remains relatively high competitiveness; Japan's competitiveness has a negative impact on its exports to ASEAN. As we divided the factors of competitive by production process, Korea has seen a significant increase in competitiveness in parts and accessories. On the other hand, Japan has negative influence on both intermediate and final goods except raw materials, and China maintains relatively stable competitiveness in both intermediate and final goods.

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This paper analyzes the characteristics of 20 Chinese overseas industrial parks approved by the Chinese government. The analysis results are as follows. First, Chinese overseas industrial parks were mainly led by China to pursue economic profits abroad, not by recipient countries. Chinese companies, which lack experience in overseas expansion, were able to reduce costs and risks by entering overseas industrial parks. Second, it was the private enterprises, not Chinese government, who actively created the overseas industrial parks. Of the 20 major overseas industrial parks, 14 were created by private enterprises. Third, Chinese overseas industrial parks are usually created by enterprises first and later approved by the Chinese government. In addition, most overseas industrial parks were first established before 2013, when China proposed the Belt & Road initiative. Fourth, Chinese overseas Industrial parks were developed with distinctive features in each region, considering the economic efficiency of each industrial park's specialized role and development potential. These characteristics indicate that Chinese companies' overseas expansion through the overseas industrial parks was driven by economic efficiency rather than by policy objectives such as China's BRI. Chinese companies’ overseas expansion and construction of overseas industrial parks were concentrated in Southeast Asia. In addition, with the strengthening of international industrial division between Southeast Asia and China, China’s market share in the region is increasing. On the other hand, Korea has a declining market share in most regions except Vietnam, therefore it is urgent to establish a new policy.

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There has been a recent research stating that, among the components of Term Spread that are widely recognized in the academic world as having a superior predictive power for the economy when compared to other leading variables, the predictability of “expected short-term interest rate” has decreased dramatically and the predictive power of “term premium” has expanded especially in countries that adopted with low-interest policy such as United States. In this context, the purpose of this study is to analyze whether the same phenomenon is happening in China by conducting various experiments. The experiment was divided into intra-sample prediction and out of sample prediction. In the intra-sample prediction, two factors “rate of change GDP” and “recession” were set as dependent variables and empirical analysis was conducted on each. When the rate of change of GDP was the dependent variable, the predictive power of Term Spread mainly stemmed from the “expected part of future short-term interest rate”, and this trend does not show a decreasing trend later in the rolling test results but term premium appeared to act as noise. Interesting results were obtained when recession was used as a dependent variable. It was observed that although Term Spread gives a statistically significant signal to the recession, the explanatory power is significantly less than when using the “expected short-term interest rate”, “term premium”, “future short-term interest rate” + “term premium”. In addition, the significance of “expected part of future short-term interest rate” is very robust, exceeding the threshold of 2 in both the backward and forward rolling regression analysis. Therefore, it could be confirmed the predictive power of Term Spread in China still depends heavily on the “expected short-term interest rate”, and that the recent phenomenon that was observed in the US was not happening in China.

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With the consideration of complexities of official statistics and the central role of policy in China, this study aims to track changes between 2007 and 2017 in Chinese regional inequality based on 31 provinces and three economic regions. The statistically significant result of a β-convergence test indicates that GDP per capita is converging, meaning that the economy of poor provinces is catching up to that of rich provinces and, thus, is relieving the interprovincial inequality. Also, this study finds that reduction of the level of GDP per capita between the eastern region and the others has come along with a narrowing of interprovincial inequality. These findings are consistent with the changing strategy of the central government, which moved from a marketized eastern-region–centered strategy to one of more balanced but still government-centered development, which may attenuate the sustainability.

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