High-level trade and foreign policy officials from the US and China have articulated their views recently on implementing the phase one trade deal and hopes for cooperation amid a state of strategic competition. Will more of such sessions help to chip away at the great wall of mistrust that has been built between the US and China?
Though the Covid-19 pandemic has had an impact on many industries, annual global semiconductor sales still increased by 10.8% in 2020 to reach US$464 billion. The current global semiconductor supply chain is highly internationalised. While it is dominated by a small number of countries and regions, none of them has full control over every segment in the supply chain and geopolitics can be a risk factor. While the US has imposed sanctions and trade restrictions on China to hinder its development in chip making, academic James Pang says that given the nature of the industry, the current status quo will be maintained for some time.
In recent years and since the pandemic led to the surge in live streaming, e-learning and other online activities, the demand for cloud computing and related services has increased significantly. Chinese companies led by frontrunners Huawei, Tencent and Alibaba are launching into all-out competition in the cloud services sector. While Huawei has been fiercely climbing the ranks with the injection of talent and funding, Alibaba and Tencent are not resting on their laurels either. What could be their winning war chests? And are they ready to take on the world? Caixin journalist Zhang Erchi finds out.
Economics professor Zhu Ying notes that China-US trade ties are currently highly politicised, not least because of bilateral military competition, and what the West sees as China’s authoritarian approach in the digital sector. The US trade war is set to see further ripples and partial decoupling of supply chains may worsen. Can this standoff be resolved?
Amid the effects of the China-US trade war and the Covid-19 pandemic, global manufacturers are seeing the need to adopt a ”China+1“ strategy by diversifying their supply chains or business operations beyond China. However, moving parts of the supply chain to the Southeast Asian region is not so straightforward. What challenges do they face and how are they overcoming them? Will China's position as the "world's factory" be shaken and how will its economic model be changed?
When China’s “dual circulation” strategy was launched last year, some analysts interpreted it to mean that China would be focusing more on its domestic market. Figures show otherwise. Studying trade and investment indicators over the past few months, Chen Gang concludes that China’s economic engagement with the world is increasing as it runs on dual domestic and external engines.
China is no longer as enamoured with the US as it used to be, with its realisation that the US will never allow it to reach to its level and stand on an equal footing. Freed from sentimentality towards the US, China may accelerate its search for new partners to ensure its survival, says Han Dongping.
Based on science, there is no firm understanding of the effectiveness of the vaccines or how long they last, so getting vaccinated does not mean immunity. Based on politics however, countries seem to be starting to use vaccine nationalism as a tool. Is it not enough to have two worlds split apart by different internets — now will we see a world divided into those who used the Chinese vaccine and those who used other vaccines? Viruses know no borders, but it’s looking like vaccinations will.
In the development of 1G to 4G technology, the US, Europe and Japan took turns to dominate. When it comes to 5G, China says that it has built the largest 5G network globally with other 718,000 5G base stations throughout the country, which is at least ten times the network in the US. China is also strong in 5G chip design and is making inroads in setting global standards for wireless networks. Is China getting a leg up in the tech race?