Globalisation

A barber cuts a man's hair along a road in Beijing, China, on 7 December 2021. (Wang Zhao/AFP)

How being a good Samaritan can ‘spoil the market’

While some businessmen have good intentions in offering goods and services at lower prices, they could also be “spoiling the market” and making it harder for others to make a living. Such actions may invite backlash, whether in village scuffles, or writ large, protests and anti-dumping measures between countries. China, the world’s factory, has borne the brunt of such pushback. Industries in other countries are affected, as capital moves freely between borders but labour stays in place. Those who feel they are losing out may hold grudges and end up dealing a big blow to society.
People sit on a ferry as the Statue of Liberty, lower Manhattan and One World Trade Center are seen on 5 December 2021 in New York City, US. (Patrick Smith/Getty Images/AFP)

Why democracy is failing and why some authoritarian regimes might just work

Lance Gore notes that US President Joe Biden’s Summit for Democracy is one that will fade away just as quickly as it appeared. Fundamentally, the summit and the “good versus evil” dichotomy it espouses is way past its time. With democracies today, not least the US, facing issues of decline and some authoritarian regimes offering practical governance and livelihood solutions, the clash of systems is just not so clear-cut. In fact, if China irons out some of the kinks in its system, it may become a model of benign authoritarianism that others may find worth emulating.
Compared with its opening, passenger flow to Shibati has reduced. (Photo: Edwin Ong)

Preservation of Chongqing’s oldest central business district: Success or failure?

Reviews have been mixed after Shibati, Chongqing’s oldest central business district, reopened to great fanfare recently. Some were glad that the former messy, dilapidated quarter has been refreshed, while others feel that it has been turned into another “ancient street”, devoid of a sense of its rich history and heritage. Where should the fine balance be, in the preservation of tangible heritage, when multiple stakeholders and business interests are involved?
Visitors are pictured in front of an immersive art installation titled "Machine Hallucinations — Space: Metaverse" by media artist Refik Anadol, which will be converted into NFT and auctioned online at Sotheby's, at the Digital Art Fair, in Hong Kong, China, 30 September 2021. (Tyrone Siu/File Photo/Reuters)

Metaverse: A chance to build a better world

Academic Pei Sai Fan says that one should dream big with the metaverse and not only see it as a new avenue of making money. By creating a new virtual universe from scratch, we can make good use of the blockchain-based metaverse to promote an equitable, more transparent and more inclusive rules-based international digital currency and financial system and enhance the global governance system to deal with issues facing all countries. This would require a global approach and China is well placed technologically to actively participate and lead the effort with like-minded nations in creating such a metaverse. It would be a pity if countries squandered such an opportunity to truly build a better world for all mankind.
Paramilitary police officers keep watch as people climb the Great Wall of China in Beijing, China, 1 October 2021. (Thomas Peter/Reuters)

Wang Gungwu: China, ASEAN and the new Maritime Silk Road

Professor Wang Gungwu was a keynote speaker at the webinar titled “The New Maritime Silk Road: China and ASEAN” organised by the Academy of Professors Malaysia. He reminds us that a sense of region was never a given for Southeast Asia; trade tied different peoples from land and sea together but it was really the former imperial masters and the US who made the region “real”. Western powers have remained interested in Southeast Asia through the years, as they had created the Southeast Asia concept and even ASEAN. On the other hand, China was never very much interested in the seas or countries to its south; this was until it realised during the Cold War that Southeast Asia and ASEAN had agency and could help China balance its needs in the maritime sphere amid the US's persistent dominance. The Belt and Road Initiative reflects China’s worldview and the way it is maintaining its global networks to survive and thrive in a new era. This is an edited transcript of Professor Wang’s speech.
People dine at a restaurant in Beijing, China, 13 August 2021. (Tingshu Wang/Reuters)

Chinese economics professor: If you like salty and spicy food, your ancestors might have been poorer folk

The Big Mac index as an informal gauge of the economic standards and consumption capacities of countries is well known. But actually, there’s also the pickle index, the lipstick index, and the ultimate indicator from everyday life — the regional food flavours index. What do the saltier, bold-flavoured food in regions like Hunan, Jiangxi and Shandong, and the clean, light flavours of Jiangsu say about the relative states of their regional economies?
People visit the promenade on the Bund along the Huangpu River, 1 May 2021, Shanghai, China. (Hector Retamal/AFP)

Why the world will face a global leadership vacuum

Chen Kang explains why global governance is hard to achieve, not least due to the limited effectiveness of multilateral organisations, the waning willingness of the US to lead in global governance, and the conflicts between global governance and national sovereignty.
Participants wave national and party flags as balloons are released at the end of the event marking the 100th founding anniversary of the Communist Party of China, at Tiananmen Square in Beijing, China, 1 July 2021. (Carlos Garcia Rawlins/Reuters)

Chinese ambassador Hong Xiaoyong on CPC’s centenary: Towards a brighter future

On 1 July, a ceremony was held at Tiananmen Square in Beijing commemorating the 100th anniversary of the Communist Party of China. Chinese ambassador to Singapore Hong Xiaoyong shares his thoughts on the key tenets the party has abided by to bring the country this far, and how it will steer the country’s relations with other countries in the years to come.
A pedestrian wearing a face mask walks over Westminster Bridge near the Houses of Parliament in central London on 7 June 2021. (Tolga Akmen/AFP)

China's Greater Bay Area ready market for British education exports

While the UK imports a high volume of goods from China, it exports many sought-after services in areas including finance, law and accounting. Its latest niche is its expansion into education, targeting the Guangdong-Hong Kong-Macau Greater Bay Area.