Michel Henry Bouchet, professor of international finance at Skema Business School, France, discusses the implications of China’s illegal deployment of Haiyang Shiyou-981 oil rig well within Vietnam’s exclusive economic zone and continental shelf as well as the impact of the tension on the economic outlook and business environment of Vietnam. This interview represents his own views, not necessarily those of Skema.

FIGAROVOX/ANALYSE - Toujours en suspens, la question grecque a été évoquée lors du G7 ce lundi. Pour le professeur Michel-Henry Bouchet, le règlement de cette crise passera par la restauration de la confiance des investisseurs nationaux et internationaux.

For three decades, since the late 1970s, the marching order in China has focused on five priorities, namely, “move, work hard, leverage your network, invest and get rich”. The result is impressive. Whereas China’s share of global GDP was roughly one third in the early XIX° century, and only 5% in the 1950s, China is now back to 14% and growing quickly. China’s economic curve might cross that of the US around 2020. Four hundred million Chinese have been lifted out of poverty, and the average income per capita stands at $8000, a two-fold increase since 2004. Despite Cassandra’s warning of the bursting of upcoming bubbles, China has navigated through the pitfalls of the global financial crisis with caution and responsiveness. And the soft landing of China’s economy, with a sustainable GDP growth rate of 8%, means that the inflation-driven overheating threat has receded.

Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation.