Get to know our Students at the Contemporary China Studies Program!
Here an interview with Philip Schönfelder from Germany, who joined the program in 2019:
Thank you for agreeing to this interview! Why don’t you just start with your name, your background, and a little bit about yourself?
Of course, thank you very much for this opportunity. My name is Philip Schönfelder, I am 28 years old, and I am from Berlin, Germany. During my undergraduate studies, I majored in business administration at the University of Potsdam in Germany. At that time, I had the opportunity to participate in an exchange program with the University of International Business and Economics (UIBE) in Beijing. I studied business-related courses and Chinese for one year. This was in 2015, and back then, I was already sure that I would come back to Beijing for my master’s degree. After graduating in 2018, I started working as a project manager and consultant for a Berlin-based company focused on consulting companies dedicated to renewable energy and energy efficiency and selling their knowledge/products worldwide. After one year, I started to manage the Finance, HR, and business development department of a law firm in Berlin. Nevertheless, I never forgot what I told myself in 2015 – that I would like to study my master’s degree in Beijing, China.
Why did you choose Renmin University and the Contemporary China Studies Program?
I applied to several universities in China to gain my master’s degree. Tsinghua, Peking University, Renmin University and UIBE in Beijing; Fudan and Jiaotong University in Shanghai. In the end, the strong academic path and its renowned position in the field of social sciences was the reason why I chose Renmin University and the Contemporary China Studies Program. Renmin University was actually my first choice. While talking to the CCSP Team during my application process, I had the feeling that I could meet all my goals I set out at the beginning of my application process. Studying in China gave me a deeper insight into the country’s and people’s life and culture, which I already knew a little. Still, it also allowed me to improve my language skills, which will undoubtedly be advantageous for my future professional career. China is already Germany’s most important trading partner outside the European Union and will continue to play an essential role in the future. Both on a political and economic level, the knowledge I gained through my studies will certainly help me further. The acquired knowledge about Chinese politics, Chinese foreign policy, Chinese history, and Chinese language through various methods, which the program offers, is also one reason I chose the CCSP. It also provides a variety of different, exciting courses and specialization options. I wanted to become an interesting candidate for internationally operating companies, think tanks, or non-governmental organizations upon completing the master’s program. The CCSP gave me the best opportunity for that as the number one leading program in China regarding Contemporary China Studies.
You were in Beijing when the pandemic broke out, then you went back to Germany. The transition must have been difficult, what are you up to these days?
I went back to Berlin in December 2019 to celebrate New Year’s eve with my family and already booked a flight back to China. At the time, COVID19 was not a big problem because of all the unknowns. I was sure that the situation could be detained in Wuhan and wouldn’t become a pandemic. In hindsight, that might have been wrong, but who could have foreseen that? I flew back to Germany two weeks later in February 2020. At the beginning of my second semester, no one knew how the situation would develop, which is why I couldn’t make any big plans or rent an apartment in Berlin. I wanted to return to Beijing and achieve all the goals I set out for myself. Around the beginning of the third semester so in September, I realized that I wouldn’t return to Beijing, which is why I started looking for an apartment in Berlin and an internship. I started working for a Germany-based consultancy firm in Berlin in January 2021. I am currently working on a project focused on a fascinating and significant future topic – cybersecurity. As an in-house consultant, I am helping the German public administration develop further and adapt to the digitalized economy.
As a second-year student, you are also working on your master’s thesis, what is your research about?
In 2009, Bitcoin succeeded in creating a decentralized, digital form of money. Almost a decade later, global central banks are working on their attempts to digitize fiat currencies. Central Bank Digital Currencies (CBDC) can positively impact society, from financial inclusion to decreasing illicit activities such as fraud and money laundering. China is leading the way and is on track to be the first major economy to adopt such a system. The People’s Bank of China (PBOC) has been working on a digital yuan since 2014 and accelerated its efforts after Facebook’s Libra announcement in 2019. So far, test runs have been conducted in Shenzhen, Suzhou, and some smaller Chinese cities. In my thesis, I am looking at various implementation efforts by other central banks globally, but in particular at China’s digital currency, the Digital Currency Electronic Payment (DCEP) program. I am researching whether or not the implementation of central bank digital currency in China will impact the Renminbi’s internationalization. I chose this topic because, in my opinion, it seems inevitable that a variety of digital central bank currencies will be introduced around the world in the next few years. China is currently leading the way, cementing its place as one of the top innovators in fintech and digital banking, and while cash remains in circulation even in China, it is clear that CBDCs will have a significant impact on the global economic and monetary order. That is also one reason I am also researching a possible impact the DCEP implementation could have on Europe.
Do you have plans for after graduation?
My only goal at the moment is to graduate with a good grade and to finish my thesis. I hope that someday my job will take me back to China but who knows what will happen.
Would you recommend this program to others?
I would definitely recommend the Contemporary China Studies Program for people interested in Chinese politics, Chinese foreign policy, or Chinese history or philosophy. This program allows students to study exciting topics about China. People can specialize in different China-related social science fields, which is one reason I chose this program and why I would recommend it.
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