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An increasing number of countries have launched their central bank digital currencies (CBDC) in recent years, but the economic impacts of CBDC adoption are underexplored. To empirically assess how CBDC adoption influences regional economic integration, this paper investigates the Greater Bay Area, where China carried out one of its first digital renminbi pilot programs. The Greater Bay Area provides a good example because the growing acceptance of digital renminbi in the area can potentially mitigate transaction costs and risks due to the exchange rate volatility of the Chinese renminbi, Hong Kong dollar, and Macao pataca. CBDC adoption can lead to greater real and financial integrations by facilitating cross-border trade in goods and services. This paper evaluates deviations from uncovered interest rate parity, purchasing power parity, and real interest rate parity across Guangdong, Hong Kong, and Macao based on monthly interest rate and price data from January 2016 to December 2022. The time series have mean values near zero, which validate the parity conditions and indicate high degrees of financial, real, and economic integrations. The Markov regime-switching regression model identifies three regimes: (1) pre-Covid, (2) post-Covid, and (3) post-CBDC. The Covid-19 outbreak brought lower integration and stability, but the launch of the CBDC restored some of the pre-Covid integration and stability. Regimes 1 and 2 are persistent, and transitions from Regime 3 back to Regime 1 are probable. Hence, this study finds evidence that CBDC adoption improves regional economic integration in the short and long run.

The Revenue Management (RM) problem in airlines for a fixed capacity, single resource and two classes has been solved before by using a standard formalism. In this paper we propose a model for RM by using the semi-classical approach of the Quantum Harmonic Oscillator. We then extend the model to include external factors affecting the people’s decisions, particularly those where collective decisions emerge.

The article sets off from a speech given by Benedict XVI in the German Bundestag in 2011, where he requested an ecological learning process to aim at sustainable human development. Appreciating the Ecological Movement, he asked to learn to listen to Nature’s language and act accordingly, which he applies analogically to “human ecology”. The article bridges elements of “Listening to Nature” and the Natural Moral Law Tradition in Benedict’s speech and in Francis’ Encyclical Letter Laudatu Si’ inview of serving human flourishing in an ecological civilization. Keywords: Natural Moral Law; Nature, Laudatu Si’, Benedict XVI, Francis; Ecological Civilization/生態文明, Sustainable Development, Ecology of Man.

Dance education has undergone significant changes with the integration of information technology. Traditional dance pedagogy is now complemented by innovative digital software tools and applications. This work surveys the diverse applications of information technology in dance education at college or university level and the impact it has on teaching and learning processes. We discuss the integration of technology in various aspects of dance education, including skill development, choreography, performance analysis, VR/AR, online virtual learning, and collaborative learning. Additionally, the benefits and challenges associated with the use of information technology are also examined and the future research directions for research and practice in this field are proposed.

Whilst after decades of research, exegetes have all agree on the complexity of Paul’s line of thinking in Rom 2:14–16, the ITC in its 2009 document, In Search of a Universal Ethic, still in an oversimplified manner propagates the view that Rom 2:14 presupposes a theory/theology of the natural law. This article makes plain the major disagreements among Pauline exegetes whether such presupposition stands by reviewing some major contributions to the discussion by raising major questions regarding the issue of φύσει in those verses, the nature of the law mentioned by Paul, the identity of the people Paul calls “Gentiles.” This article offers a more nuanced understanding of Rom 2:14. Keywords: Rom 2:14, ITC, Universal Ethic, Natural Law, φύσει, Gentiles

Virtual reality, a computer-generated 3D environment, allows one to navigate and possibly interact, resulting in real-time simulation of one or more of the user’s five senses (Gutierrez et al., 2008; Vince, 2004). Virtual tours and places have swiftly become popular in education, professional training, arts, exhibitions, and medication and rehabilitation. The empirical studies derived from the PhD thesis research aim to identify the conditions for Macao’s single-user experience to achieve mindfulness in virtual reality through immersion and interactivity.

Macau, Macau Business, MAG, MB, MB Featured, Opinion | As Macau rebuilds its post-pandemic economy, one could be forgiven for believing that the good life for all has arrived, as evidenced in the manifest opulence on display in its up-market shopping malls. However, this is not the case; social justice needs attention in Macau.

Macau, Macau Business, MAG, MB, MB Featured, Opinion | Macau wisely looks to mainland China, South-East Asia, and Portuguese-speaking countries, as part of its economic diversification. However, to be a player on the international stage and world-wide market, it must look wider, and, hence, the standard of English in Macau must improve dramatically and urgently.

Macau, Macau Business, MAG, MB, MB Featured, Opinion | Many employers in Macau expect their employees to have received higher education (HE). This returns to the endless question of what HE is for; is it for job knowledge and skills acquisition, attitude development, thinking abilities, creativity, problem solving, how to learn, or what? What and whose knowledge?

Macau, Macau Business, MAG, MB, MB Featured, Opinion | The recent euphoria over Macau’s economic resurrection should not mask the long-standing challenges facing its society and values. Sunshine creates shadows in which can lurk a range of pathologies.

Macau, Macau Business, MAG, MB, MB Featured, Opinion | Here we are, back in full-throttle summer tourism in tiny Macau, with visitors galore, lines of tourist coaches everywhere, and the casinos back on course to welcome gamblers. However, gambling reaches much wider than Macau’s casinos.

Macau, Macau Business, MAG, MB, MB Featured, Opinion | Just when diversification is the name of the game in Macau, and with the manifold benefits of diversity that internationals can bring, how sensible is it to treat its international non-resident workers so poorly, and with lamentable transparency and accountability?

Macau, Macau Business, MAG, MB, MB Featured, Opinion | Once upon a time there was a cockerel who succumbed to flattery when a wily fox told him that he had the most magnificent singing voice, especially when he sang with his eyes closed tightly.

Macau, Macau Business, MAG, MB, MB Featured, Opinion | Macau Business | December 2023 Keith Morrison – Author and educationist

China's re-emergence as an aid donor has attracted the attention and criticism from Western donors, academia, and the media. In contrast to traditional donors, China's aid has been portrayed as anti-poverty aid, mainly due to its combination with other instruments, such as investment, and the absence of any political or economic conditions. This paper examines the impact of Chinese aid projects in Guinea's education sector from the perspective of the beneficiaries. The author collected data from both primary (interviews) and secondary (document analysis) sources. The present study concludes that China's aid projects in the education sector have received both positive and negative feedback, mainly because the recipients' needs have not been appropriately targeted. This study contributes to the literature on China's role in Africa. More specifically, it discusses the conditions for aid effectiveness in the field of education. Moreover, in the context of the globalization of aid practices, the study proposes best practices for China to adopt in order to improve the practices of its aid delivery. The novelty of this study lies in the methodology (qualitative method) used to understand China's aid from the perspective of the beneficiaries of its aid.