Though the Covid-19 pandemic has had an impact on many industries, annual global semiconductor sales still increased by 10.8% in 2020 to reach US$464 billion. The current global semiconductor supply chain is highly internationalised. While it is dominated by a small number of countries and regions, none of them has full control over every segment in the supply chain and geopolitics can be a risk factor. While the US has imposed sanctions and trade restrictions on China to hinder its development in chip making, academic James Pang says that given the nature of the industry, the current status quo will be maintained for some time.
Manufacturing
Technology
Dr Kai-Fu Lee recently spoke at a summit reviewing the development of artificial intelligence. He gave five predictions about the industrial changes that would be brought about by the combination of artificial intelligence and other new technologies. Lee feels these changes would allow China to lead the world in science and technology in the next 20 years or so. This is the edited version of his speech.
Economy
Amid the effects of the China-US trade war and the Covid-19 pandemic, global manufacturers are seeing the need to adopt a ”China+1“ strategy by diversifying their supply chains or business operations beyond China. However, moving parts of the supply chain to the Southeast Asian region is not so straightforward. What challenges do they face and how are they overcoming them? Will China's position as the "world's factory" be shaken and how will its economic model be changed?
Politics
US-based Chinese researcher Zhou Nongjian takes a close look at Biden’s US$6 trillion stimulus plans to improve the US economy and meet the challenge from China. He asserts that infrastructure-building and poverty assistance plans are stop-gap measures that will not address fundamental problems such as the US’s loss of industries and declining national strength. Is the US president putting the cart before the horse?
Economy
With growing competition and tension between China and the US, one region that China is looking to is Southeast Asia. Many major Chinese companies are expanding their operations into ASEAN countries, using them as manufacturing and assembly bases or springboards to the region. Zaobao's associate foreign news editor Sim Tze Wei examines the possibilities.
Economy
It is no longer an unqualified truism that China is a vast land of abundant resources, says Chen Hongbin. While it is rich in minerals such as rare earths, it is one of the world’s largest importers of natural gas, oil and iron ore, and is paying through its nose in some cases to reach a level of sufficiency. How can China achieve greater energy security?
Politics
Academic Deng Xize notes that the 2020 US election demonstrates what he terms the Socratic Trap, referring to the gap between people’s cognitive abilities and the power they hold. How will this affect the democratic process, and what are the shortcomings of democracy?
Politics
The Indo-Pacific strategy, with the China threat at the back of its mind, was a vital plank of the Trump administration’s foreign policy. Professor Xiang Lanxin considers the flaws of the concept when put into practice, and wonders if the policy will become something of a white elephant under the Biden administration.
Economy
While China has soared ahead in other areas such as expressway construction and port development, it lags behind heavyweights like the US in railway development. A fundamental cause is relying on the government as its single investment channel. Plugging its railway gaps, literally and figuratively, would give China’s economic development a decided boost.