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From "Daddy's Connections" to "The Exam": 2,000 Years of China's Elite Selection
- Institutional change
- Keju & selection
- Trust cost
Four institutional upgrades that tried to solve search cost and trust cost in Chinese elite selection.
UNDERSTANDING CHINA
Understanding China
Starting from unfamiliar words — practicing how to understand this land underfoot.
Notes and essays from learning Chinese politics, history, and the economy. Much of it wasn’t clear at first: some ideas kept returning in class, some clicked while reading, and some only grew after long back-and-forth with a smart assistant. What I want to record isn’t “what I already know,” but how this knowledge slowly enters my language, judgment, and lived experience.
Notes and essays from learning Chinese politics, history, and the economy.
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Reading Rigid Bubble: From IPO Approval to the Imperial Exam
- Keju & selection
- Rigid bubble
- Institutional drift
When the gate becomes the goal, institutions start to warp — how A-share listing approval and the keju system grow “implicit guarantees” from institutional recognition.
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Reading Rigid Bubble: Why Do Bubbles Become "Rigid"?
- Rigid bubble
- Implicit guarantee
- Trust cost
How implicit guarantees prop up trusts, housing, stocks, and local debt — and turn risk into a rigid belief.