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Posts Tagged ‘china’

How China Can Reach its Centennial Goal

Posted by hkarner - 15. Oktober 2019

Zhang Jun is Dean of the School of Economics at Fudan University and Director of the China Center for Economic Studies, a Shanghai-based think tank.

The focus on exports has undoubtedly served China well over the last four decades. But the key to achieving President Xi Jinping’s goal of creating a “great modern socialist country” by 2049 will be unleashing the potential of China’s domestic market, especially by eliminating institutional barriers to the growth of private enterprises.

SHANGHAI – Two years ago, Chinese President Xi Jinping declared that by the time the People’s Republic celebrates its centenary in 2049, it should be a “great modern socialist country” with an advanced economy. To achieve this ambitious goal, China will need to secure another three decades of strong economic performance and inclusive development. The question is how.

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When China Rules the Web

Posted by hkarner - 11. Oktober 2019

Date: 09-10-2019
Source: Foreign Affairs By Adam Segal

Technology in Service of the State

For almost five decades, the United States has guided the growth of the Internet. From its origins as a small Pentagon program to its status as a global platform that connects more than half of the world’s population and tens of billions of devices, the Internet has long been an American project. Yet today, the United States has ceded leadership in cyberspace to China. Chinese President Xi Jinping has outlined his plans to turn China into a “cyber-superpower.” Already, more people in China have access to the Internet than in any other country, but Xi has grander plans. Through domestic regulations, technological innovation, and foreign policy, China aims to build an “impregnable” cyberdefense system, give itself a greater voice in Internet governance, foster more world-class companies, and lead the globe in advanced technologies.

China’s continued rise as a cyber-superpower is not guaranteed. Top-down, state-led efforts at innovation in artificial intelligence, quantum computing, robotics, and other ambitious technologies may well fail. Chinese technology companies will face economic and political pressures as they globalize. Chinese citizens, although they appear to have little expectation of privacy from their government, may demand more from private firms. The United States may reenergize its own digital diplomacy, and the U.S. economy may rediscover the dynamism that allowed it create so much of the modern world’s technology. Den Rest des Beitrags lesen »

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The Unwinnable Trade War

Posted by hkarner - 11. Oktober 2019

Date: 09-10-2019
Source: Foreign Affairs By Weijian Shan

Everyone Loses in the U.S.-Chinese Clash—but Especially Americans

In late June, the leaders of China and the United States announced at the G-20 meeting in Osaka, Japan, that they had reached a détente in their trade war. U.S. President Donald Trump claimed that the two sides had set negotiations “back on track.” He put on hold new tariffs on Chinese goods and lifted restrictions preventing U.S. companies from selling to Huawei, the blacklisted Chinese telecommunications giant. Markets rallied, and media reports hailed the move as a “cease-fire.”

That supposed cease-fire was a false dawn, one of many that have marked the on-again, off-again diplomacy between Beijing and Washington. All wasn’t quiet on the trade front; the guns never stopped blazing. In September, after a summer of heated rhetoric, the Trump administration increased tariffs on another $125 billion worth of Chinese imports. China responded by issuing tariffs on an additional $75 billion worth of U.S. goods. The United States might institute further tariffs in December, bringing the total value of Chinese goods subject to punitive tariffs to over half a trillion dollars, covering almost all Chinese imports. China’s retaliation is expected to cover 69 percent of its imports from the United States. If all the threatened hikes are put in place, the average tariff rate on U.S. imports of Chinese goods will be about 24 percent, up from about three percent two years ago, and that on Chinese imports of U.S. goods will be at nearly 26 percent, compared with China’s average tariff rate of 6.7 percent for all other countries. Den Rest des Beitrags lesen »

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America blacklists China’s best artificial-intelligence firms

Posted by hkarner - 11. Oktober 2019

How stupid! (hfk)

Date: 10-10-2019
Source: The Economist

The move, linked to repression in Xinjiang, strikes at the heart of China’s technological ambitions

FOR TWO years reports of mass incarceration have seeped out of the remote Chinese province of Xinjiang. Over 1m people, mainly Uighurs and other Muslim minorities, have been locked up in camps. Millions more live under a police state. American officials, fearful of upending trade negotiations, have dithered over a response. On October 7th, three days ahead of the 13th round of talks, they put their foot down. The Commerce Department banned American firms from selling software and hardware to 20 public-security organs. It also blacklisted eight Chinese companies whose products, it says, facilitate the Orwellian surveillance in Xinjiang.

The ban hits at the heart of China’s artificial-intelligence (AI) ambitions. The eight firms include startups working on facial recognition (Megvii, SenseTime, Yitu), voice recognition (iFlytek), digital forensics (Xiamen Meiya Pico) and chipmaking gear (Yixin), as well as Shenzhen-listed makers of video-surveillance kit (Hikvision and Dahua). Together they are worth around $75bn. In August Megvii and Yitu were designated as national champions. Den Rest des Beitrags lesen »

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ÜBER CHINA UND RATLOSE ÖKONOMEN

Posted by hkarner - 9. Oktober 2019

FURCHE-Kolumne 277 Wlfried Stadler

„Hüte dich vor Reformkommunisten, die sich zu Kapitalisten entwickeln“: diese strikte Parole des Mao Tse-Tung blockierte den von ihm versprochenen „Großen Sprung nach Vorne“ in den von Hungersnöten und Klassenterror gezeichneten Anfangsjahren der Volksrepublik China. Erst nachdem sein Nachfolger Deng Xiaoping das Riesenreich aus der Isolation befreit hatte, schafften es mehr als 800 Millionen Menschen aus bitterer Armut zu bescheidenem Wohlstand.

Allein im letzten Jahrzehnt verdreifachte sich die Wirtschaftsleistung des größten Exportlandes der Welt. Die ökonomische Zwischenbilanz Chinas ist jedenfalls imposanter als die bombastische Militärparade, mit der Staatschef Xi Jinping in diesen Tagen das 70-jährige Gründungsjubiläum des bevölkerungsreichsten Staates der Erde feiern ließ.
Chinas steiler Aufstieg führte vom Billiglohn-Standort in den ersten Sonderwirtschaftszonen über die Rolle als Werkbank vieler der weltbesten Konzerne hin zu einer höchst innovativen Ökonomie. Staat und Partei entwickelten durch Ausbau der Infrastruktur und Anreize für Unternehmen einen global vernetzten Wirtschaftsstandort, an dem mittlerweile über 40 Prozent der weltweiten Patente registriert werden.

Dass der Anteil Chinas am Welt-Sozialprodukt schon vor 200 Jahren bei über 25 Prozent lag, ist eine Pointe der Wirtschaftsgeschichte. Denn genau so weit ist man auch heute wieder. Den Rest des Beitrags lesen »

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Can the US and China Make a Deal?

Posted by hkarner - 8. Oktober 2019

Kevin Rudd

Kevin Rudd, a former prime minister of Australia, is President of the Asia Society Policy Institute in New York.

Driven by domestic nationalist forces and the need to save face, US President Donald Trump and his Chinese counterpart, Xi Jinping, have continued to escalate the bilateral trade war, despite their shared interest in resolving it before the end of the year. To make a deal, both sides need to start taking substantive steps immediately.

NEW YORK – Now that the celebrations marking the 70th anniversary of the founding of the People’s Republic of China are over, it is time to direct attention back to the Sino-American trade war. That conflict may well be about to enter its endgame. Indeed, the next round of negotiations could be the last real chance to find a way through the trade, technology, and wider economic imbroglio that has been engulfing both countries.

Failing that, the world should start preparing for its rockiest economic ride since the 2008 global financial crisis. Den Rest des Beitrags lesen »

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Without Democracy, China Will Rise No Farther

Posted by hkarner - 6. Oktober 2019

Date: 04-10-2019
Source: Foreign Affairs by By Jiwei Ci

Beijing Can’t Compete With Washington Until It Reckons With Its People

China has been busy rising, and an alarmed United States has been busy repositioning itself. Neither shows much interest in what is arguably the most important test now confronting China’s leadership, which is whether and how it will respond to internal pressures to democratize. Perhaps that is because neither realizes that how far China rises and what happens to U.S.-Chinese relations both depend more on the country’s democratization than on just about anything else.

The Chinese Communist Party (CCP) is apparently so confident in its ability to deliver economic growth and the nation’s “great rejuvenation” that it has dispensed with the search for democratic legitimacy. The United States, having observed recent political developments in China, seems happy enough to follow the CCP in writing off the country’s democratic prospects. On this shared understanding, the supposed rivalry between China and the United States has taken on the dimensions of a contemporary Cold War. Den Rest des Beitrags lesen »

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The Worst China Trade Idea

Posted by hkarner - 1. Oktober 2019

Date: 30-09-2019
Source: The Wall Street Journal By The Editorial Board

Banning investment would hurt the U.S. and reformers in Beijing.

A monitor displays Alibaba Group Holding Ltd. signage on the floor of the New York Stock Exchange (NYSE) in New York in May.

The Trump Administration is looking for ways to pressure China to change its trade practices, but how about not hurting the U.S. along the way? The latest shoot-self-in-foot moment came Friday when word leaked that the White House may restrict bilateral U.S.-China investment. Bloomberg News reported that the Administration may also block Chinese companies like Alibaba from listing on U.S. stock exchanges.

The delisting of Chinese companies is especially foolish. American financial exchanges are sources of U.S. economic strength, but they compete in a global market. Foreign firms can choose to list in London or Hong Kong or Frankfurt as easily as on the Nasdaq or the New York Stock Exchange. Banning Chinese companies from U.S. exchanges would merely hurt those American businesses and U.S. capital markets. The damage to the Chinese firms would be minor because investors would still be able to raise capital elsewhere. Den Rest des Beitrags lesen »

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The future of the global economy hinges on four games of chicken

Posted by hkarner - 26. September 2019

Date: 25-09-2019
Source: The Guardian by Nouriel Roubini

Trump’s rows with China and Iran, Brexit and Argentina’s populism put the world on a knife edge

Shipping containers from China and other Asian countries

In the classic game of chicken, two drivers race directly toward each other, and the first to swerve is the loser. If neither swerves, both will probably die. In the past, such scenarios have been studied to assess the risks posed by great-power rivalries. In the case of the Cuban missile crisis, for example, Soviet and American leaders were confronted with the choice of losing face or risking a catastrophic collision. The question, always, is whether a compromise can be found that spares both parties their lives and their credibility.

There are now several geo-economic games of chicken playing out. In each case, failure to compromise would lead to a collision, most likely followed by a global recession and financial crisis. The first and most important contest is between the US and China over trade and technology. The second is the brewing dispute between the US and Iran. In Europe, there is the escalating brinkmanship between Boris Johnson and the EU over Brexit. Finally, there is Argentina, which could end up on a collision course with the International Monetary Fund after the likely victory of the Peronist Alberto Fernández in next month’s presidential election. Den Rest des Beitrags lesen »

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Chinese Tech Companies Turn to Financial Services

Posted by hkarner - 25. September 2019

Date: 24-09-2019
Source: The Wall Street Journal

In search of new growth markets, they hope to leverage their consumer data to sell loans, insurance and more

China’s Baidu is one example of a big Chinese tech company mining customer data in hopes of selling financial services. Chief Technology Officer Wang Haifeng speaks at the Baidu developers conference last July in Beijing.

China’s biggest internet and technology companies are crowding into the financial-services business, hoping to monetize troves of data they’ve collected on millions of people in the country.

Didi Chuxing, the country’s largest ride-hailing company, smartphone maker Xiaomi Corp. , web-search giant Baidu Inc. and online retailer JD.com Inc. are among companies that have set up finance arms providing personal loans, insurance and investment products. Many of those products are offered and sold via the companies’ smartphone apps that connect directly to individuals’ virtual wallets or bank accounts. Den Rest des Beitrags lesen »

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