Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘china’

How China’s Financial Cracks Could Spread

Posted by hkarner - 19. Oktober 2017

Date: 18-10-2017
Source: The Wall Street Journal

If China’s growth falters, the fallout will be felt around the world
China is the world’s second-largest economy, the biggest buyer of nearly all commodities and the biggest exporter.

Can financial turmoil in China play havoc with the rest of the world? It has already happened.

On the first trading day of 2016, China’s central bank sent shockwaves around the world by sharply lowering the value of the yuan. The decline in the currency itself, which came after the bursting of a stock market bubble, was not the biggest concern. Rather it was a sudden loss of confidence in China’s growth story that reverberated around the world. Den Rest des Beitrags lesen »

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How Baidu Plans to Win the Artificial Intelligence Market

Posted by hkarner - 19. Oktober 2017

Date: 18-10-2017
Source: Fortune

LAGUNA BEACH, Calif.—Baidu, the Chinese Internet giant, is betting big on artificial intelligence.

Investors love it—the company’s shares kicked off 2017 trading at $168 and are now at an astounding $270. (And expected to keep climbing past $300.)

Why the sunny outlook? Because AI is widely seen as a market with massive potential—and Baidu, at its heart a research company, has the culture and mindset to succeed, co-founder and CEO Robin Li said at the Wall Street Journal’s D.Live conference in Laguna Beach.

“Every company has its own DNA,” said Li, one of the wealthiest people in China. “Baidu is a technology company.” Den Rest des Beitrags lesen »

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Beijing Pushes for a Direct Hand in China’s Big Tech Firms

Posted by hkarner - 13. Oktober 2017

Date: 12-10-2017
Source: The Wall Street Journal

Government regulators have discussed stakes in Tencent, Weibo and an Alibaba subsidiary

China’s government is pushing some of its most important companies to give the state a direct role. Regulators have discussed 1% stakes in social-media giants, including Tencent. Here, pedestrians walk near Tencent headquarters in November 2016.

The Chinese government is pushing some of its biggest tech companies—including Tencent, Weibo and a unit of Alibaba—to offer the state a stake in them and a direct role in corporate decisions.

Wary of the increasing power of private businesses, internet regulators have discussed taking 1% stakes with social-media powers Tencent Holdings Ltd. and Weibo Corp. and with Youku Tudou, a YouTube-like video platform owned by e-commerce titan Alibaba Group Holding Ltd., according to people close to the companies.

While the authoritarian government already exerts heavy sway over businesses through regulation, a management role would give Beijing a direct hand in innovative companies that service hundreds of millions of Chinese. Den Rest des Beitrags lesen »

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China’s AI Awakening

Posted by hkarner - 12. Oktober 2017

Date: 11-10-2017
Source: Technology Review

The West shouldn’t fear China’s artificial-intelligence revolution. It should copy it.

On a tropical island that marks the southern tip of China, a computer program called Lengpudashi is playing one-on-one poker against a dozen people at once, and it’s absolutely crushing them. Lengpudashi, which means “cold poker master” in Mandarin, is using a new artificial-intelligence technique to outbet and outbluff its opponents in a two-player version of Texas hold ’em.

The venue for the tournament is a modern-looking technology park in Haikou, capital of the island of Hainan. Outside, modern high-rises loom over aging neighborhoods. Those gathered to play the machine include several poker champs, some well-known Chinese investors, entrepreneurs, and CEOs, and even the odd television celebrity. The games are being broadcast online, and millions are watching. The event symbolizes a growing sense of excitement and enthusiasm for artificial intelligence in China, but there’s also a problem. Lengpudashi wasn’t made in Hainan, Beijing, or Shanghai; it was built in Pittsburgh, U.S.A. Den Rest des Beitrags lesen »

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Hit by Chinese Hackers Seeking Industrial Secrets, German Manufacturers Play Defense

Posted by hkarner - 25. September 2017

Date: 24-09-2017
Source: The Wall Street Journal

Smaller German companies that help power the country’s export-driven economy are vulnerable, prompting the government to extend support

Deutsche Telekom said it had detected more than 30,000 cyberattacks from China so far this month. Above, CEO Timotheus Höttges on a screen during the company’s annual news conference earlier this year.

BERLIN—A wave of attacks by Chinese hackers on Germany’s cutting-edge manufacturers is raising alarm in Berlin and prompting the government to step in to defend the country’s competitive edge.

The small and midsize companies that make Germany an export powerhouse have landed in the crosshairs of foreign hackers attracted to the firms’ valuable but often poorly protected intellectual property, German intelligence officials warn. Den Rest des Beitrags lesen »

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Brexit lässt bei Briten die Zuneigung zu Europa erwachen

Posted by hkarner - 20. September 2017

„So europäisch haben sich die Engländer seit Jeanne d’Arc nicht mehr gefühlt“, meint der Koordinator der Eurogruppe, Thomas Wieser.

Während in der britischen Regierung noch über die richtige Strategie für den Abschied von der EU gestritten wird, erstarkt unter vielen Briten vor dem Brexit die Zuneigung zu Europa. Denn nun sei klar, dass es ans Eingemachte geht. „Und wenn es ans Eingemachte geht, dann merkt man, wie wahnsinnig wichtig die EU ist“, stellte Thomas Wieser, Koordinator der Eurogruppe, im Gespräch mit der APA fest.

„So europäisch haben sich die Engländer seit Jeanne d’Arc nicht mehr gefühlt“, formuliert Wieser launig. Sogar ein international sensationell vernetztes und dank Englisch mit einem Sprachvorteil startendes Land wie Großbritannien merke zunehmend, welch hoher Anteil des Exporterfolgs und des Wirtschaftswachstums vom „gemeinsamen Schirm der EU abhängt“. Man müsse sich die Frage stellen, ob China in zehn Jahren noch die aktuellen Spielregeln für den internationalen Handel, die von der westlichen Welt gestaltet wurden, akzeptieren wird. „Die Frage ist, wird China irgendwann einmal sagen, dass ihr Wirtschaftssystem mit dem ganzen Regelwerk inkompatibel ist, weil es pausenlos Beschwerden und Handelsmaßnahmen gegen China gibt“, so Wieser, der auf Einladung der B&C Privatstiftung in Wien war.

Wenn China erst einmal das Regelwerk in Frage stelle, dann werde sich auch die Frage stellen, ob Großbritannien alleine stark genug ist, sich gegen chinesische Interessen behaupten zu können. „Zunehmend sehen immer mehr Menschen in England, dass das nur sehr schwer möglich ist“, analysiert Wieser. Den Rest des Beitrags lesen »

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Capacity cuts in China fuel a commodity rally and a debate

Posted by hkarner - 11. September 2017

Date: 08-09-2017
Source: The Economist

One of the biggest, and more controversial trends, in the global economy

STEEL ran in Zhang Cheng’s family for three generations. His grandfather mined iron ore. His father got a job in the big state-owned steel mill just outside Jinan, capital of Shandong province. His mother worked in the on-site hospital. And Mr Zhang went to the mill-run school, graduating to a job in its foundry, where, in the heat of the blast furnace, he rolled metal into thin bars for construction. But after nearly two decades in Jinan Steel, he worked his last day there this summer. In the name of “capacity reduction”—a government policy to rein in excess production of steel—the plant stopped operating in July, and Mr Zhang went on the dole.

Since they worked for a state-owned company, the local government has helped him and the 20,000 others who lost jobs find new ones. But it has been a struggle for Mr Zhang, a soft-spoken man. Openings in Jinan are mainly in the service industry—as a waiter in restaurants or an attendant at a station on the new underground. He worries that he does not have what it takes. “I’ve spent my life interacting with machines, not with people,” he says. Den Rest des Beitrags lesen »

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Charge of the battery brigade

Posted by hkarner - 11. September 2017

Date: 08-09-2017
Source: The Economist

An infrastructure for charging electric vehicles takes shape

A reliable network should not prove an insurmountable roadblock

A NEW phrase, “range anxiety”—the fear that an electric vehicle (EV) will run out of power before it reaches a charging-point—entered the Oxford English Dictionary in 2013. At the time a Nissan LEAF, the world’s best-selling EV, could travel only 120km between charges. A car with a full tank of fuel will travel 650-800km between refills. A motorist relying on batteries has to find a public charger, a rare sight in 2013, or plug in at home to cover the same distance. Range anxiety has not gone away as EVs have advanced. But the problem now feels much more soluble.

Many governments are pushing hard to replace the internal combustion engine (ICE) with cleaner EVs—this summer both Britain and France said that by 2040 new cars completely reliant on petrol or diesel will be illegal. By 2050, half the cars on the road globally, a billion in total, will be battery-powered, reckons Morgan Stanley, a bank. Falling battery costs mean that the total cost of EV ownership will soon hit parity with ICE models. Den Rest des Beitrags lesen »

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The facial-industrial complex

Posted by hkarner - 9. September 2017

Date: 07-09-2017
Source: The Economist

Ever better and cheaper, face-recognition technology is spreading

China’s Megvii has used government-collected data to lead the sector

TOURING the headquarters of Megvii in Beijing is like visiting Big Brother’s engine room. A video camera in the firm’s lobby recognises visitors in the blink of an eye.

Other such devices are deployed around the office. Some of the images they capture are shown on a wall of video called “Skynet”, after the artificial-intelligence (AI) system in the “Terminator” films. One feed shows a group of employees waiting in front of an elevator with a white frame around every face and the name of each person next to it. Quizzed on the Orwellian overtones of the set-up, Yin Qi, the startup’s chief executive, simply remarks that “this helps catch bad guys.”

Even if Mr Yin wanted to ponder the implications of the technology, he would not have the time. Megvii is busy building what he describes as a “brain” for visual computing. The firm has come a long way since its founding in 2011 (its name stands for “mega vision”). More than 300,000 companies and individuals around the world use its face-recognition technology, which is called Face++, making it one of the biggest such services. In December Megvii raised $100m, giving it a valuation of nearly $2bn and turning it into the world’s first billion-dollar startup from might be called the “facial-industrial complex”. Den Rest des Beitrags lesen »

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China’s Shift to City-Led Growth

Posted by hkarner - 7. September 2017

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