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Economics Development Association: A New Beginning

Time:2016-12-01 18:04:48  Hits:[]
While many of the students prefer to focus on studies or engage themselves in some recreational outdoor activities, very few opt for a much more practical approach towards life and career. 
PHBSers went ahead to prove their mettle in the academia and extra-curricular activities by taking part in a young association named “Economics Development Association” (EDA). EDA aims to provide its members with a profound and logical understanding of economic and financial issues. Moreover, it strives to highlight the major drivers behind recent economic development of China and some other countries. All EDA’s efforts are designed to help its members to become more open-minded and knowledgeable with a culturally-diverse perspective.

In order to achieve its goals, EDA held a discussion around the topic China’s Double eleven (November 11 or most commonly known as the Single’s Day) at PHBS on November 20. Members of the association, both Chinese and international students, participated and exchanged their views.
November 11 now is commonly known in China as the Single’s Day — an obscure folk holiday transformed by Alibaba into a 24-hour online shopping spree. Last year the event raked in sales of US$14.3 billion, greater than the annual GDP of Nicaragua, Laos or Jamaica. Purchases via smartphones accounted for 72 percent of sales. With the success of this online festival kept in mind, EDA members discussed the factors behind the success of the Singles’ day shopping spree and its impact on Chinese economy. In addition, the talk also shed some light on the reasons behind the fast development of China’s e-commerce, its pros and cons, and the future of the shopping carnival.
The members were divided into three groups, and each group was assigned to focus on a specific question concerning e-commerce in China. After the group discussion, each group gave an impromptu presentation over their understanding of e-commerce in China and the prospects it holds. 
Then, each international student gave a small presentation about their country and the available e-commerce platforms in their respective countries. At the end, everyone shared their thoughts over the event and praised the new students over their new initiative.
By Fayeza Yahya
Edited by Yuan and Jin
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