Academic Jianyong Yue notes that despite China’s seeming eagerness to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), doing so may in fact hinder it from realising its full potential, given the strict regulations of the group. Perhaps it might be better for China to focus on developing its domestic market and turning into a strong consumption power capable of supporting its industrial upgrading and economic transformation.
Economy
Economy
The proposal of new gaming regulations in China have sent shockwaves through the industry, with the top gaming company Tencent seeing its market value drop dramatically. Lianhe Zaobao senior correspondent Chew Boon Leong takes a look at the challenges facing the industry.
Society
Recent news reports featured a Chinese man who slept on the streets of New York, who turned out to be a doctoral degree holder educated in Fudan University and the US. The story of how he did not return to China after getting a scholarship and became a US citizen but ultimately ended up on the streets drew reactions from the Chinese, who questioned why China should take him back.
Politics
Erik Baark takes stock of China’s gains at COP28 in Dubai in December 2023. The status of China in the negotiations was clearly enhanced by the compromise achieved by the US and China with the Sunnylands Statement in November 2023. On the difficult matter of establishing an international consensus on the approach to fossil fuels, China also seems to have found room to manoeuvre in the call for countries to commit to “transitioning away from fossil fuels in energy systems”.
Politics
With the Taiwan presidential election nearing its climactic end, Lianhe Zaobao associate editor Han Yong Hong notes there has been nothing fresh with election rhetoric, leading to a dull affair. Nonetheless, the election carries a lot of weight given its potential impact on cross-strait and China-US relations.
Economy
Even with the efforts of the Chinese government to revitalise the stock market, investors and shareholders seem to be unconvinced and hesitant in putting in funding, which in turn is not helping the market to recover as fast as would be hoped. What else can be done to bring back the good days?
Politics
Bangladesh’s ruling government led by Prime Minister Sheikh Hasina was easily returned to power on 7 January. While the US has often criticised Bangladesh's elections as not being free and fair, its close neighbours China and India seem prepared to focus on Bangladesh’s strategic value in increasing their regional influence.
Economy
Academic Naoise McDonagh assesses the headwinds in store for China in 2024, as the US and Europe ratchet up their de-risking efforts. It is clear that Brussels and Washington are also trying to calculate the costs they are willing to absorb in the new world of weaponised trade, meaning all sides will have to dance carefully to the tune of de-risking in the year to come.
Economy
Zhang Yugui, dean of the School of Economics and Finance at the Shanghai International Studies University, notes that while the renminbi has gained traction as a global currency for trade settlements, investment and as a reserve currency, the US dollar will still maintain its hegemony until 2030. However, the US is most worried that de-dollarisation could develop into an irreversible historical trend.