Hong Kong commentator Chip Tsao observes that America's elites' hatred for Donald Trump is comparable to how the Chinese Nationalist government once detested Mao Zedong. Despite being a real estate tycoon, Trump entered the White House on the platform of making America great again. Whether he has done it is another matter, but the fact that he continues to play the outsider taking on the upper echelons on both sides of the spectrum suggests that it might be time for the American people and others to rethink what’s truly left and right.
Shenzhen has grown rapidly over the past 40 years, such that its GDP reached a massive 2.7 trillion RMB in 2019. Just this month, the Chinese government released a five-year plan to make Shenzhen a “pilot demonstration area for socialism with Chinese characteristics”. Amid plans for reforms and new initiatives, EAI academic Yu Hong asks: How much autonomy will Shenzhen have, and what challenges will it face?
China’s new Unreliable Entity List seems to be an echo of US actions. But while the list looks like a potentially lethal tool, it has to be wielded prudently in order not to hurt China’s economy or cause anxiety. Zaobao correspondent Yang Danxu examines the factors involved.
Huawei founder Ren Zhengfei once ran a stall selling slimming pills, and Alibaba founder Jack Ma used to sell small items in Zhejiang. In the wake of the Covid-19 crisis, the street stall economy is making a comeback in China. These stalls were popular in the 1980s and 1990s but declined with efforts by authorities to clean up the streets. Zaobao correspondent Yu Zeyuan weighs the pros and cons of reviving the street stall economy.
Vietnam stands to benefit from MNCs’ efforts to diversify their production base beyond China. How much it will actually benefit, however, depends on how fast it can roll out measures to further improve its infrastructure and business environment.
Chinese companies listed on US stock exchanges such as Luckin Coffee and iQiyi have been embroiled in accounting scandals of late, causing investors to eye Chinese concept stocks with doubt. What can Chinese companies with hopes of gaining access to foreign investment do to improve their bad reputations by association?
In the aftermath of the 2008 Global Financial Crisis, China trotted out a mega stimulus package that some analysts say did more harm than good. Months into the coronavirus pandemic and China’s support measures have still been measured. How much further will it go in the coming weeks to alleviate the economic strain on enterprises and individuals?
With the IMF forecast of a 3% contraction in the global economy for 2020, the economic outlook for a coronavirus-ravaged world is grim. Cai ponders how the world can pick itself up after going through what the IMF terms “the Great Lockdown” and the onslaught of “the worst recession since the Great Depression, and far worse than the Global Financial Crisis”.
Despite a proposed White House executive order to reduce dependence on China for medical supplies, and a promise by US National Economic Council President Larry Kudlow that the US government will pay for US companies to return home, US companies in China are not biting. Zaobao correspondent Chen Jing speaks to some company leaders to find out why.