The conclusion of the EU-UK Trade Cooperation Agreement and the EU-China Comprehensive Agreement on Investment (CAI) in the last days of 2020 sent a strong signal that the EU will not wait for the US to resume a leading role in the world economic order. Building partnerships with countries like China are just the impetus the EU needs to deepen integration and build better prospects for itself. In this move away from a US-centric view of the economic order, the EU is not alone.
Despite the challenges of Covid-19, China registered 2.3% growth in 2020, the only major economy to do so. A combination of able pandemic containment efforts, expansion in industrial production and fixed asset investment, as well as prompt measures to help micro, small and medium enterprises brought them to this point. If this positive trajectory continues, China looks set to continue its remarkable rebound in 2021.
Adherence to IP protection and the rule of law are common and valid concerns of US and Western practitioners doing business in China. Commentator Deng Qingbo says that in that light, China’s recent stated focus on technological innovation should be cheered, as science, rational thinking, abiding by the rules, and even democracy often go together. At the same time, the Chinese need to better communicate their desire to share the fruits of their technological advancements with the rest of the world.
Chinese foreign ministry spokesperson Zhao Lijian's recent tweet of an image depicting an Australian soldier holding a knife to a child’s throat has brought China-Australia relations to a new low. While the Australian prime minister has softened his stance and even made goodwill gestures to China, these were rejected by Chinese officials and its people. Edwin Ong traces the deterioration of China-Australia relations and notes that China may not rein in its abrasive wolf-warrior tactics anytime soon. However, he says such tactics may not benefit China in the end.
Innovation features prominently in the proposals for China's 14th Five-Year Plan. Apart from building up long-term resources such as education and basic scientific research, much government weight will be thrown behind building self-reliance in core technologies, including in the semiconductor industry, says Erik Baark and Qian Jiwei.
Many Southeast Asian telecommunication providers have rolled out their 5G masterplans and selected vendors this year, with Covid-19 prompting the need to accelerate the upgrading of digital infrastructure. However, while most Southeast Asian countries welcome collaboration with Chinese telecommunication vendors including Huawei, some telecommunication providers in Singapore, Malaysia, and the Philippines have recently moved away from partnering with Chinese companies. ISEAS academic Melinda Martinus finds out SEA's preferred vendors for developing 5G networks, and the reasons behind these shifts in preferences. Are Chinese companies still well-positioned to seize the opportunities in this arena?
China's next phase of development will focus on achieving high-quality development and building a modern socialist country, says China's ambassador to Singapore, Hong Xiaoyong. Much attention will be paid to fostering innovation and green growth, and in pursuing a coordinated approach in building prosperity for the Chinese people. China will also continue to engage the world through its dual circulation strategy, turning the China market into a market accessible to all. In these efforts, there are many opportunities for Singapore and China to work together, building on their years of cooperation and synergies. Ambassador Hong wrote this article in commemoration of the 30th anniversary of the establishment of diplomatic relations between China and Singapore.
Much attention has been focused on the burgeoning US-China tech war and the US’s suppression of Chinese companies. But less is known about China’s firm hold on the rare earths supply chain, which has the potential to derail the world’s production of products from the humble smartphone to F-35 aircraft and guided missile systems. In response, the US and its allies, including the EU, Japan and Australia, are actively coalescing around new rare earths strategies. But private investment alone will not be enough to challenge China’s global monopoly in rare earths. Can new international public-private partnerships be the answer?
The China-US 5G race has led to the rapid growth of certain industries, in particular, e-sports and working on the go. Technology specialist Yin Ruizhi examines the possibilities of 5G technology.