Shutting out the din of international debates on US-China competition, Professor Zha Daojiong puts perspective on changing global dynamics, asserting that China is circumspect about its place in the world and the prospect of decoupling is further than people think. Besides, other players, albeit smaller ones, hold sway over the changing global order too. This is the first in a series of four articles contemplating a changing world order.
In the sixth of a seven-part Lianhe Zaobao-Business Times series on China and ASEAN, we look at how brands from China are going international, particularly among Gen Z consumers in Southeast Asia.
In this exclusive interview by Zaobao journalist Yush Chau, Yangzijiang Financial Holding (YZJFH) executive chairman Ren Yuanlin charts the key milestones in his successful shipbuilding career — rising through the ranks from a shipyard apprentice to executive chairman, recovering from a corruption scandal and entrusting his son as his successor — along with his transition into the financial world.
It appears that Beijing is losing some of its factory orders with MNCs and investors putting their bets on Vietnam. But maybe it is a win-win situation: as China moves to transition its economy to advanced manufacturing, countries like Vietnam with a young and relatively cheap labour force could fill the gap.
Despite a record number of graduates entering the job market this year, China is seeing a shortage of skilled tradesmen, especially for the manufacturing industry. Chinese economics professor Li Jingkui believes that the main reason for the talent demand gap is China’s education system, which is driven by remnants of the backward ideology of the ancient feudal society.
As Shanghai battles with its worst Covid-19 outbreak, stringent anti-epidemic measures confining almost everyone at home have ground the city to a halt. It is believed that if Shanghai is not able to resume production by May, industries with supply chains in the area will not be able to function, and the automotive industry will be hit the hardest.
Zaobao correspondent Yu Zeyuan feels that the Beijing Winter Olympics has turned out much better than what was initially expected. Despite diplomatic boycotts by some Western countries and political bickering about China's human rights issues, the Chinese are more than pleased with the event. Not only did China give its best-ever showing at a Winter Olympics, it also pulled off a decent event despite the pandemic, and has generated great interest in winter sports among the Chinese public.
Over the past year, capital from industries such as liquor, finance, real estate and the internet has been pouring into the new energy sector, driving up the valuations of solar energy stocks in China. However, the industry looks set to come back down to earth. Why is this so?
Huawei has long denied that it will enter the auto manufacturing industry. Instead, the company has emphasised its partnership with automakers to build autonomous driving technology. However, since the launch of a luxury electric SUV, the M5, the market has begun speculating whether Huawei’s stance on the auto business has changed.