B2C purchasing habits since Covid-19: what’s new?
Webinar 16 sept. 2020 10:00 AM How much did COVID-19 affect consumers’ spending? How much did COVID-19 change the way consumers purchase online? In the first episode of the #EUCBEC Webinar Series Sofie Geeroms will discuss the results of a recent research carried out by BeCommerce on the new purchasing trends in Europe and their lasting effects even after the pandemic.
China continues to sweet-talk foreign firms, but business groups ‘need something solid’
Vice-Premier Hu Chunhua says preferential policies released by the government will apply equally to foreign companies. Market access remains the top concern among European businesses operating on the mainland, according to the president of the European Union Chamber of Commerce in China.
US-China trade tensions will linger for years, American firms fear
The American Chamber of Commerce in Shanghai said Wednesday there’s a growing concern among U.S. companies in China that trade tensions between the two economic superpowers will last for years.
Explainer: What we know about China’s ‘dual circulation’ economic strategy
China has unveiled a “dual circulation” strategy to cut its dependence on overseas markets and technology in its long-term development, a shift brought on by a deepening rift with the United States.
China’s economic recovery continues as pressure eases on consumers, manufacturers in August
China’s consumer price index (CPI) rose 2.4 per cent from a year earlier in August, down from a 2.7 per cent gain in July. China’s producer price index (PPI) dropped 2.0 per cent year on year in August after declining 2.4 per cent in July.
China accelerates reform to empower private sector amid COVID-19
China’s private sector, which contributes over 60 percent of the country’s GDP, is playing an increasingly important role in aiding epidemic control as well as economic recovery. Big data technology powered by internet giants such as Alibaba and Tencent has assisted the sophisticated tracking of virus-carriers, and private insurance firm Ping An has leveraged artificial intelligence to help with the early diagnosis of COVID-19.
How China’s rapid shift to a digital economy can help it escape a long recession
In China, the coronavirus pandemic has accelerated the uptake of digital technologies in households, schools and companies. Technology has also enabled the country to emerge from Covid-19 lockdowns without risking public health
China tech veterans to launch ‘domestic replacement’ fund amid US sanctions
Former executives at Huawei Technologies and SMIC are among the Chinese tech veterans who plan to launch a fund to help create China’s next tech giant. The fund will invest in start-ups specialising in technologies including semiconductors, 5G and artificial intelligence.
China close to massive 5G base station target
China is close to hitting its target of rolling out a staggering 500,000 5G mobile base stations by the end of the year.
Trump has called on US firms to leave China, but no mass exodus among ‘well-rooted’ companies
The American Chamber of Commerce Shanghai’s annual member survey shows US firms are adapting to the volatile geopolitical situation. While few are planning to leave China, a third have found it difficult to retain Chinese staff due to the US-China tensions.
U.S.-China Showdown Over Big Data to Leave Decades-Long Impact
TikTok, WeChat and Huawei Technologies Co. are just the beginning. What comes next has the potential to reshape the global economy for decades to come.
Why Nokia or Ericsson might be the West’s best bet against Huawei
History shows the US regulatory environment and the nature of American capital markets led to the downfall of the country’s home-grown telecoms equipment giant. Continental Europe provides a better environment for growth of telecoms equipment firms, with the Nordic companies offering West’s best alternative to Huawei.
The world’s top 10 airline stocks are all Chinese, except one, as country becomes first to exit from coronavirus lockdown
A Bloomberg gauge of the sector shows nine of the world’s top 10 airline stocks over the past three months are Chinese, with all but Air China posting double-digit gains. The odd one out is InterGlobe Aviation, which operates India’s biggest carrier, IndiGo.
China sends 500 senior bankers for training on risk controls as bad loans at decade-high worry regulators
Chinese banks have seen their profits eroded by the Covid-19 crisis, resulting in a surge in non-performing loans to 10-year high. CBIRC has warned of weakening asset quality, saying a slight relaxation of rules could encourage malpractices.
HSMC promised China’a first 7 nm chips. It didn’t go well.
Now it’s gone bust, leaving only a half-built headquarters.
How The Pandemic Has Changed China’s Fashion Industry
The COVID-19 pandemic has created real challenges for the Chinese garment industry. The global apparel supply chain has slowed down, and the internal market, which was already suffering because of the China-US trade war, had to overcome new constraints thanks to factory shutdowns at home as well as travel bans and quarantine measures across importing nations.
Anger in China as doctor who died of Covid-19 omitted from citizen awards
Lavish ceremony fails to mention Li Wenliang, who spoke up about virus, prompting online outcry.
Coronavirus immunity short-lived if you had mild or no symptoms, study finds
Cells responsible for lasting ability to fight the virus were not found in those patients, Chinese scientists say. Absence of the cells casts doubt on patients’ ability to produce the complete immune response needed for a vaccine to work.
E-commerce plays key role in China’s economic revival
During the first seven months of this year, China’s online retail sales increased by 9 percent on a yearly basis to 6.08 trillion yuan (US$889.9 billion). Out of the total sales, online retail sales of goods grew by 15.7 per cent on a yearly basis to 5.1 trillion yuan, accounting for 25 percent of the retail sales of social consumption goods, said Qian.
China-Europe freight trains gather steam amid surge in B2B goods bought online
With the coronavirus having restricted international air and sea transport, Chinese customs authorities say the future looks bright for domestic exports via rail The total value of business-to-business deals in China could more than triple to 2.4 trillion yuan (US$350.8 billion) by 2024 from 700 billion yuan last year, report says.
How the Trump administration has misunderstood the lessons of Nixon, Kissinger and the past 50 years of US-China diplomacy
Decades of China engagement failed, according to Pompeo, because China did not liberalise as US leaders had anticipated. However, Nixon’s opening to China in 1972 had nothing to do with spreading democracy or free enterprise but was entirely about gaining the upper hand over the Soviets in the Cold War.
China must deliver on opening up promises ahead of Xi Jinping’s ‘last chance’ EU virtual summit next week
President Xi Jinping is expected to take part in a virtual summit with European leaders, including German Chancellor Angela Merkel, on Monday. The talks are seen as key as Beijing tries to convince Europe it is sincere about opening its markets and free trade ahead of the US presidential election.
pdf : In the time of COVID-19 China’s mask has fallen with regard to Europe
2020 was forecast to be a busy Chinese-European year from the diplomatic point of view, with many meetings designed to bring to a successful conclusion some crucial and sometimes old issues, in particular an agreement on investments. Of course, negotiations were difficult, but they were ongoing. On the Euro-Chinese agenda was the annual Sino-European summit and a “17+1” conference between China and 17 Balkan and Central European States including 12 members of the European Union. In addition, Angela Merkel promised to hold an additional EU-China Summit, in September in Leipzig on the occasion of the German presidency of the Council of the Union. At the same time, the Chinese authorities are making sure that they are placing their European policy on a legal and juridical register. In doing so, Chinese State actors, including companies financed by the Chinese State, make no secret of their objective of penetrating, or even dominating, the European market; until the health crisis, they did so by playing by the rules to which Europeans adhere and by returning the use of those laid down by the Union to their benefit, whether in terms of competition, trade or internal market policies. Since the pandemic, they are no longer even trying to have China acknowledged as a “market economy” at the WTO. At the same time, Chinese leaders are challenging Europeans in new ways – mask diplomacy, wolf warrior diplomacy, bringing Hong Kong to heel, threats to Taiwan – as if to test their claim to greater cohesion, firmness and symmetry in EuroChinese economic relations. Once again, the Chinese authorities are acting faster and differently from the way the Europeans seem to have anticipated. Will the Europeans be able to find the means to position themselves in order to convince the Chinese leaders to (re)come to a more balanced, less asymmetrical European policy that is more respectful of their interests? And thereby place themselves in the situation of a State entity and a territory with influence? The game is an open one.
Europe’s Global Test
Europe’s success will depend on its ability to reinvent its democratic processes and renew its engagement in the world. Against the backdrop of technological revolution, climate change, and democratic involution, Europe is conditioned by two major geopolitical pressures: U.S.-China competition and the impact of the coronavirus pandemic on Africa.
Upcoming review on China investment strategy in the EU
On Thursday 10 September, the European Court of Auditors (ECA) will publish a review on the EU’s response to China’s state-driven investment strategy.
China-EU relations: Liu He set to promote Beijing’s global data security initiative at Thursday’s talks
Initiative on Global Data Security was not on agenda, but source says Liu is expected to raise it in virtual meeting with EC executive vice-president Margrethe Vestager. Vestager expected to press Liu for greater commitment from China on market access, research reciprocity and the compatibility of artificial intelligence with human rights, source says.
Xi Jinping likely to face criticism over Hong Kong crackdown during EU summit
Beijing’s national security law and recent arrests are expected to be topic of discussion during online meeting on Monday. Trade is the planned focus of the EU-China summit.
China and friends surround India. Your move, New Delhi
With massive investments in Pakistan and Myanmar, China’s influence extends along India’s western and eastern flanks. Delhi feels threatened, but it needn’t. China wants peace, stability and an inclusive relationship. Only India can decide if it does, too.
A China-Centered Order Is Not Inevitable
The pandemic has revealed is that the shift of global leadership toward a China-centered Asia is neither inevitable nor desired.
Asia’s Future Beyond U.S.-China Competition
Beijing and Washington are competing to set Asia’s rules, norms, and standards. But other countries in the region are increasingly choosing to shape its future themselves. Asia’s future will not be defined by the Sinocentrism that Washington fears or by the American containment that Beijing seeks to forestall.
When It Comes to Soft Power, China Is Already Outpacing the U.S.
Americans should treat skeptically the calls that are bound to begin multiplying soon to match Beijing ship for ship. It should focus instead on soft power and public goods.
Chinese firm to run Laos electric grid amid default warnings
The deal comes at a time when critics accuse Beijing of ‘debt trap diplomacy’ to gain strategic advantage.
China’s ‘debt-trap diplomacy’ is about to challenge Papua New Guinea — and Australia
The rapidly deteriorating state of Papua New Guinea’s economy is presenting serious challenges for the PNG government, which is already struggling to finance its 2020 budget. But another factor looms as an equal, if not more serious, challenge. At a time of fiscal vulnerability, PNG is getting entangled with Chinese debt—which will inevitably involve some difficult decisions for the Australian government down the line.
Getting China’s Belt and Road initiative right
The usual narrative is that China, under the assertive leadership of President Xi Jinping, is using the BRI as part of a coherent strategy to advance its national interests. Many believe that China practises ‘debt-trap diplomacy’ — providing loans to recipients that are incapable of repaying them to increase its influence over recipient governments and even seize strategic assets upon default.In our report, Lee Jones and I argue that China’s BRI is not a carefully designed plan, and that debt-trap diplomacy is a myth. There are three serious misconceptions about the BRI. The first misconception is that the BRI is motivated by geopolitical objectives. Despite some posturing, the BRI is an attempt to address China’s own economic challenges.
How Will the Coronavirus Implicate U.S. – China Relations?
The U.S.-China relations have been largely affected by the epidemic as a whole and the bilateral relationship that both governments have worked so hard to keep afloat is now perpetually being replaced by a series of confrontations. What more, such events have led China to make a series of changes towards the country’s strategic direction on a feedback-upon-feedback level, domestically at least. Judging by the progress of things, it’s only a matter of time before both countries will eventually descend into another cold war and the ultimate deciding factor in that lies in whether the U.S. can maintain influence over its allies, which is something China will have play into when responding to U.S.’ containment efforts towards the country.
China plans sanctions against US officials who visit Taiwan, says Global Times editor Hu Xijin
US President Donald Trump’s administration has been building closer ties with the self-governing island. Health and Human Services Secretary Alex Azar visited Taiwan last month.
With China’s diplomats in overdrive, Singapore had a subtle message for Beijing
Politburo member Yang Jiechi’s trip to the city state included a stop at a commemorative marker for Deng Xiaoping. Beijing may see itself as a peace-loving, responsible power, but it is increasingly seen by others as an intimidating, self-centred giant.
US presidential election: Will strategic ambiguity on Taiwan be restored?
Trump administration’s close links with Taipei have encouraged anti-mainland sentiment and thoughts of independence. A Biden presidency is likely to bring a cautious approach from Washington towards the self-ruled island.
US expected to step up surveillance as China continues to escalate naval exercises
A series of US spy planes have been detected around China’s coast, including one that was spotted off the coast of Guangdong. Another surveillance aircraft was seen near a no-entry zone in the East China Sea, where the latest drill began on Tuesday.
China’s mystery experimental spacecraft ‘could be part of Shenlong space plane project’
Military source says craft that has just completed its first test flight is likely to be linked to the project. Details of the mission have not been released, but another source suggested it was similar to the US X-37B.
Departure of Australian journalists from China seen as ‘terrible blow to mutual understanding’
Australian media has been left without a presence on the mainland for the first time since 1973 after Bill Birtles and Michael Smith fled for their safety. Their exit marks a new low in fraying ties between Canberra and Beijing, and closes one of a dwindling number of channels for engagement.
China’s leaders are strong and emboldened. It’s wrong to see them as weak and insecure
There’s an emerging view that China’s belligerent approach and “torching” of diplomatic relationships with the wider world is a sign of “insecurity and weakness”; that its economic growth is “unsustainable”; and that “everyone in the top ranks of the Chinese Communist Party” knows the day is coming when “China’s entire economic structure and strategic position crumbles”.
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