Wealth

Wu Guo notes that equality is very much a mirage, whether in the socialist or liberal democracy conception of the term. The sum total of one’s head start in life is often tied to his or her family background. And often, no amount of levelling up can change that. But this does not mean that equality is of no relevance or should not be aspired to. Adopting an attitude of equality can help ensure that people’s rights are protected, even if the ideal of equality may never be achieved.

The battle is heating up as Hong Kong and Singapore both vie for the wallets of rich Chinese in the tech sector. With the idea of family offices gaining popularity in recent years, will Hong Kong or Singapore have the edge over the other?

Recent media reports have highlighted the issue of villas continuing to be illegally built in the mountains of southern Jinan even as those found are demolished. Shandong and Jinan authorities have swiftly launched investigations, including taking action against party cadres who might be involved, but will their persistence last? Zaobao correspondent Yu Zeyuan reports.

With Chinese returning talents (海归, haigui) increasingly becoming a dime a dozen amid worsening US-China relations and less Chinese students venturing abroad, the aura of prestige that such returnees used to enjoy is fast diminishing. In fact, many of them were ostracised in the early days of the pandemic for bringing the virus back to China. But all is not lost, as many among them feel their years spent abroad will still open doors.

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.

In recent weeks, two camps have formed over Lenovo and accusations that the latter has sold off state-owned assets on the cheap in an equity transfer deal a little more than a decade ago. Some are defenders of Lenovo, but the other more vitriolic camp is bent on bringing Lenovo to its knees. What are the underlying issues behind this wall of hate forming around Lenovo? Yu Zeyuan looks into the issue.

Deng Qingbo finds that those who have “grown rich first” during China’s initial period of reform and opening up, and who have grown rich a second time by consolidating their holdings, now find themselves locked in an endless pursuit of wealth with no clear direction to better themselves. He thinks it is high time that they “grow wealthy for the third time” in the spiritual sense, and give back to society by developing a truly influential and well-respected corporate culture. It works out well that this would be in line with China’s “common prosperity” goals.

Minister for Education Chan Chun Sing gave the speech titled "Singapore amid Great Power Rivalry" at the International Institute for Strategic Studies Fullerton Lecture on 9 November 2021. He said countries around the world possess some agency even amid great power competition, and Singapore can work together with like-minded partners to help build a better world. And while the US and China might feel their differences sharply, there could be more common interests between them than they would probably want to acknowledge, as both countries share a single global system and biosphere with the rest of the world. Here is the full transcript of his speech.

On 2 November, Tesla founder Elon Musk cryptically posted on social media an old Chinese poem, sparking discussion on what the poem meant — and what Musk meant. The controversial Musk, who has been quoted making comments supportive of China, has nevertheless faced challenges in bringing Tesla to China, including recent incidents of complaints against Tesla’s brake systems allegedly malfunctioning. However, efforts to handle such negative publicity seem to be working, as Tesla continues to grow strongly in China.