This paper aims to determine the status of the socialist market economy through a logical analysis of the evolution of economic systems in human society.
Abstract
Purpose
This paper aims to determine the status of the socialist market economy through a logical analysis of the evolution of economic systems in human society.
Design/methodology/approach
This paper presents an analysis of uncertainty and the functions performed by different economic systems in managing and resolving it, thereby explaining the evolutionary rationale behind economic system evolution.
Findings
Firstly, the socialist market economy empowers the market to play a decisive role in resource allocation, which serves as the foundation for activating individuals' motivation to engage in economic activities. Secondly, the socialist market economy adheres to the basic socialist economic system, which is the basis for the socialist market economy to stabilize the economy and society or to address the risk of economic uncertainty that may trigger macro-level inconsistencies in economic operations. Thirdly, the advantages of a socialist market economy in adapting to economic uncertainties do not arise spontaneously and must be exerted through continuous improvement of the socialist market economy.
Originality/value
The innovation of this paper lies in introducing uncertainty to clarify the logic behind the evolution of economic systems in human society and explaining the typical significance of the socialist market economy and its advantages in accommodating and resolving uncertainty.
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Yi-Chih Yang and Hsien-Pin Liu
This paper aims to investigate bank credit policies and uncover yacht building finance assessment factors from bank credit policies toward the yacht industry.
Abstract
Purpose
This paper aims to investigate bank credit policies and uncover yacht building finance assessment factors from bank credit policies toward the yacht industry.
Design/methodology/approach
This study’s questionnaire attempts to identify survey respondents’ degrees of awareness through difference analysis, and then uses entropy weighting and gray relational analysis to discover priority ranking order of bank credit assessment considerations from the perspective of Taiwan’s banking sector.
Findings
The research findings show that yacht builders have to review their ship financing application methods and improve shortcomings to meet banks’ credit granting requirements.
Originality/value
Banks emphasize yacht builders’ repayment ability to protect their depositors and shareholders.
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Zhen Li, Zhao Lei, Hengyang Sun, Bin Li and Zhizhong Qiao
The purpose of this study was to validate the feasibility of the proposed microstructure-based model by comparing the simulation results with experimental data. The study also…
Abstract
Purpose
The purpose of this study was to validate the feasibility of the proposed microstructure-based model by comparing the simulation results with experimental data. The study also aimed to investigate the relationship between the orientation of graphite flakes and the failure behavior of the material under compressive loads as well as the effect of image size on the accuracy of stress–strain behavior predictions.
Design/methodology/approach
This paper presents a microstructure-based model that utilizes the finite element method (FEM) combined with representative volume elements (RVE) to simulate the hardening and failure behavior of ferrite-pearlite matrix gray cast iron under uniaxial loading conditions. The material was first analyzed using optical microscopy, scanning electron microscopy (SEM), energy-dispersive X-ray spectroscopy (EDS) and X-ray diffraction (XRD) to identify the different phases and their characteristics. High-resolution SEM images of the undeformed material microstructure were then converted into finite element meshes using OOF2 software. The Johnson–Cook (J–C) model, along with a damage model, was employed in Abaqus FEA software to estimate the elastic and elastoplastic behavior under assumed plane stress conditions.
Findings
The findings indicate that crack initiation and propagation in gray cast iron begin at the interface between graphite particles and the pearlitic matrix, with microcrack networks extending into the metal matrix, eventually coalescing to cause material failure. The ferritic phase within the material contributes some ductility, thereby delaying crack initiation.
Originality/value
This study introduces a novel approach by integrating microstructural analysis with FEM and RVE techniques to accurately model the hardening and failure behavior of gray cast iron under uniaxial loading. The incorporation of high-resolution SEM images into finite element meshes, combined with the J–C model and damage assessment in Abaqus, provides a comprehensive method for predicting material performance. This approach enhances the understanding of the microstructural influences on crack initiation and propagation, offering valuable insights for improving the design and durability of gray cast iron components.
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Yangyang Dong, Tongle Zhang, Shaojie Han, Yipan Guo, Bo Zeng, Yongbin Wang and Zijian Zhang
Spherical robot plays an essential role in the field of mobile robot because of its unique shape and omni-directional mobility, especially in the application of planet detection…
Abstract
Purpose
Spherical robot plays an essential role in the field of mobile robot because of its unique shape and omni-directional mobility, especially in the application of planet detection. Although spherical robot has many advantages over leg robot, its obstacle climbing performance is still not satisfactory, that is exactly the motivation of this paper. The purpose of this paper is to propose a high-performance hopping mechanism for spherical robot, which can adapt to different terrain and effectively cross obstacles.
Design/methodology/approach
The hopping system uses torque spring as part of the energy storage mechanism, and converts the kinetic energy of rotation into elastic potential energy with a particularly designed turntable. Moreover, the track of the turntable, based on the Archimedes spiral principle, has the attributes of equidistance and equivelocity that enable better stability of energy storage process.
Findings
Experiments show that the proposed hopping mechanism can make a 250 g spherical robot jump up to 58 cm with the take-off angle of 60°. Finally, the influence of friction and take-off angle on the hopping height and distance of the robot is also analyzed, which provides a prior guidance for optimizing its jumping process.
Originality/value
This paper shows how to easily design a lightweight, compact and embedded spring hopping structure so that a spherical hopping robot with detection ability can be developed.
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Hui-Wen Deng and Kwok Wah Cheung
The National People’s Congress (NPC) of People’s Republic of China, the highest organ of state power, is popularly seen as a rubber-stamp entity. However, it has been…
Abstract
Purpose
The National People’s Congress (NPC) of People’s Republic of China, the highest organ of state power, is popularly seen as a rubber-stamp entity. However, it has been substantially evolving its roles to accommodate the governance discourses within China’s political system over the decades. This study aims to explore the changes of governance discourse of the NPC within China’s political system through which to offer a thorough understanding of the NPC’s evolving substantial role in current China.
Design/methodology/approach
This study deploys a historical approach to explore the changes of governance discourse of the NPC that has seen a growing importance in China’s political agenda, as argued by this study.
Findings
The authors find that the NPC has been substantially evolving its role within China’s political system in which the Chinese Communist Party has created different governance discourses. Besides, the NPC and its Standing Committee have asserted its authority as a substantial actor within China’s political system. The NPC is no longer functioned as a rubber-stamp institution, though it is still popularized as a rubber stamp by many scholars.
Research limitations/implications
This study is a historical elaboration on the development of NPC under three governance discourses. It might be, to some extent, relatively descriptive in nature.
Originality/value
This study, therefore, sheds some light on a revisit on the governance discourses in current China.
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Feng Zhao, Jianbao Zhang and Zhen Luo
The correlations and deviations between market prices, production prices and values are critical indexes for testing the labor theory of value. However, there is not yet a…
Abstract
Purpose
The correlations and deviations between market prices, production prices and values are critical indexes for testing the labor theory of value. However, there is not yet a universally accepted method of solving for the production price vector, and given the complexity and volatility of economic dynamics, production prices based on the assumption of economic equilibrium cannot be accurate measuring. This paper attempts to propose a new approach to test the labor theory of value.
Design/methodology/approach
This paper proposes a different approach. From the perspective of disequilibrium price, the paper deduces that the range of the relative prices of commodities is determined by the relative value, the rate of surplus-value and the technical structure of production inputs, with relative price fluctuating within the value range specified by the labor theory of value under market competition influences.
Findings
With empirical research results based on China’s economic data, this paper not only affirms the scientific and practical explanatory power of the labor theory of value in a more general sense but also uncovers how surplus value is distributed across sectors, which can be used to analyze market competition and technical relations and their impacts on industrial structure and distribution.
Originality/value
The disequilibrium analytical framework provides a new perspective for the empirical study of labor theory of value. Moreover, it evolves the labor theory of value into a robust empirical framework, breaking through the theoretical path of the traditional labor theory of value that is mostly limited to the normative discussion of exploitation.
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Jianbo Yuan, Yerui Fan and Yaxiong Wu
This study aims to propose a novel lightweight tendon-driven musculoskeletal arm (LTDM-arm) robot with a flexible series–parallel mixed skeletal joint structure and modularized…
Abstract
Purpose
This study aims to propose a novel lightweight tendon-driven musculoskeletal arm (LTDM-arm) robot with a flexible series–parallel mixed skeletal joint structure and modularized artificial muscle system (MAMS). The proposed LTDM-arm exhibits human-like flexibility, safety and operational accuracy. In addition, to improve the safety and stability of the LTDM-arm, a control method is proposed to solve local artificial muscle overload accidents.
Design/methodology/approach
The proposed LTDM-arm comprises seven degrees of freedom skeletons, 15 MAMSs and various sensor systems (joint sensing, muscle tension sensing, visual sensing, etc.). It retains the morphology of a human skeleton (humerus, ulna and radius) and a simplified muscle configuration. This study proposes an input saturation control with full-state constraints to reduce local artificial muscle overload accidents caused by redundant muscle tension calculations.
Findings
3D circular trajectory experiments were conducted to verify the stability of the control method and the flexibility of the LTDM-arm. The results showed that the average error of the muscle length was approximately 0.35 mm (0.38%), which indicates that the proposed control scheme can make the output follow the target trajectory while ensuring constraint satisfaction.
Originality/value
The human arm is capable of performing compliant operations rapidly, flexibly and robustly in unstructured environments. Existing musculoskeletal arm robots lack simulations of the full morphology of the human arm and are insufficient in dexterity. However, the flexibility and safety features of the proposed LTDM-arm were consistent with that of the human arm. Therefore, this study offers a new approach for investigating the advantages of the musculoskeletal system and the concepts of muscle control.
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Jinming Zhen, Congcong Zhen, Min Yuan, Yingliang Liu, Li Wang, Lin Yuan, Yuhan Sun, Xinyue Zhang, Xiaoshu Yang and Haojian Huang
With the rapid development of the pipeline transportation and exploitation of mineral resources, it is urgent requirement for the high-performance polymer matrix composites with…
Abstract
Purpose
With the rapid development of the pipeline transportation and exploitation of mineral resources, it is urgent requirement for the high-performance polymer matrix composites with low friction and wear to meet the needs of solid material transportation. This paper aims to prepare high-performance ultrahigh molecular weight polyethylene (UHMWPE) matrix composites and investigate the effect of service condition on frictional behavior for composite.
Design/methodology/approach
In this study, UHMWPE matrix composites with different content of MoS2 were prepared and the tribological performance of the GCr15/composites friction pair in various sliding speeds (0.025–0.125 m/s) under dry friction conditions were studied by ball-on-disk tribology experiments.
Findings
Results show that the frictional behavior was shown to be sensitive to MoS2 concentration and sliding velocity. As the MoS2 content is 2 Wt.%, composites presented the best overall tribological performance. Besides, the friction coefficient fluctuates around 0.21 from 0.025 to 0.125 m/s sliding speed, while the wear rate increases gradually. Scanning electron microscopy images, energy-dispersive spectroscopy and Raman Spectrum analysis present that the main wear mechanisms were abrasive and fatigue wear.
Originality/value
The knowledge obtained herein will facilitate the design of UHMWPE matrix composites with promising self-lubrication performances which used in slag transport engineering field.
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China represents around 20% of the world's population, and her economy is still performing well under economic crisis. Historical events have shaped different parts of China with…
Abstract
China represents around 20% of the world's population, and her economy is still performing well under economic crisis. Historical events have shaped different parts of China with different economic developments and cultural encounters. The most prominent difference is between Hong Kong and the Mainland. This chapter would like to examine the development and issues of fashion retailing in China. For better understanding, this chapter starts with a brief discussion on apparel industry development and fashion culture in Hong Kong and the Mainland, follows by historical development and then presents systems of fashion retailing in both Hong Kong and the Mainland. Desktop research and exploratory research techniques were employed. Stores of international fashion luxury brands in Hong Kong, Shanghai and Beijing were visited. Comparison of branding issues, particularly for luxury market in Hong Kong and the Mainland are discussed, so are future directions of fashion retailing in these places.
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Keywords
Zhen Xiao, Youqun Zhao, Fen Lin, Mingmin Zhu, Yaoji Deng and Liguo Zang
A novel non-pneumatic safety tire, namely mechanical elastic wheel (ME-Wheel), has been developed recently to solve problems, including tire bursting and flat tire, of typical…
Abstract
Purpose
A novel non-pneumatic safety tire, namely mechanical elastic wheel (ME-Wheel), has been developed recently to solve problems, including tire bursting and flat tire, of typical pneumatic tires. This paper aims to predict the life of the ME-Wheel accurately and settle the problem of lower lifespan.
Design/methodology/approach
This study proposes a new method to establish a novel model of virtual proving ground based on finite element analysis, and by combining with the random vibration damage analysis method, the life of an ME-Wheel is predicted precisely. Next, the weak parts and infinite life parts of the ME-Wheel are investigated from the perspective of constant life design, and an approximate response surface model is developed, which is suitable for the ME-Wheel. Then, the optimal results of the ME-Wheel are obtained, including tire modal, mass and its lifetime.
Findings
It is found that the proposed methods can provide a reliable theoretical basis for further improving the structural design and material selection of ME-Wheel parts. The results show that the improved ME-Wheel can reduce the weight and greatly improve the ability of anti-resonance, and the lifetime of ME-Wheel has significantly improved.
Originality/value
A new type of non-pneumatic tire (ME-Wheel) has been developed to avoid problems with traditional tires, such as tire leaking or puncture. A new method to establish a novel model of virtual proving ground based on finite element analysis has been proposed. The weakest key component of the ME-Wheel is determined. The life, mass and modal of the ME-Wheel are optimized.