Chinese netizens and commentators have largely celebrated the RCEP as being China-led and a coup for China. Zhu Ying provides a reality check as to why the Chinese should instead have their feet firmly on the ground.
State-owned enterprise
Economy
Even back in the Qing dynasty, the concept of “state-owned enterprises” was not a foreign one. The Qing government had the habit of maintaining monopolies by running their own enterprises or looking out for profitable industries and private companies, and taking control of them. Hong Kong commentator Chip Tsao notes that even grabbing profits could not prevent the fall of the Qing dynasty.
Society
In the context of China-US competition, US-listed China concept stocks companies may find it advantageous to get secondary listings on the Hong Kong or Singapore stock exchange. US companies may also veer towards Singapore and Hong Kong when it comes to international arbitration cases. In the final analysis, will Singapore or Hong Kong have the edge?
Politics
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 earth 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 earth 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?
Politics
The Soviet Union and China have both previously tried and failed to overtake the US in various aspects. However, China's rise in the past few decades and the new Cold War has given China renewed impetus to duel the US for supremacy. Have they got enough firepower now with a government-led economic model that has a fair component of a market economy? Economics professor Zhu Ying looks at who might win.
Society
Lai Xiaomin, former chairman of China Huarong Asset Management, was recently charged with taking bribes worth over 1.78 billion RMB. Corruption cases have been dealt with harshly in the past, but not in the case of a deputy minister-level official taking bribes of such a large magnitude. Will Lai be made an example of as a signal to other "pests” who are waiting to crawl out of the woodwork?
Society
In a study conducted by academics from the NUS Business School surveying the China, India, and Singapore landscape, respondents often described the Chinese as disciplined and focused, Singaporeans as structured, fearing failure and sticking to the plan, and Indians as creative, flexible and frugal. While it is not the only or most pertinent factor, cultural traits matter when it comes to managing teams and maximising their potential to innovate.
Politics
China has faced reversals of fortune numerous times in history, sometimes for better, sometimes for worse. After enjoying decades of upward ascent since its economic reform and opening up, some says China’s fate is about to be reversed again with the coronavirus pandemic, a mammoth disruption that kicked off the 2020s. Lance Gore argues that such massive shock to its political and economic system exposes chinks in its armour but does not necessarily unravel a big country with the world’s most comprehensive industrial structure.
Politics
Lim Hwee Hua pays tribute to Li Rongrong, former Chairman of the State-Owned Assets Supervision and Administration Commission, whom she's known since 2003. She speaks fondly about the courage of Li's convictions and the invaluable contributions he has made in his lifetime.