Rule of law

China's new law gives its coast guard greater powers in the South China Sea. However, is this in line with international law and expectations? Japanese academic Shin Kawashima explores the issue.

With the recent investigation into Alibaba for alleged monopolistic actions, Chinese legal expert Zong Haichao explores the need for balance in the measures taken by the Chinese government to curb monopolies. While many expect 2021 to be “year one” of the anti-monopoly era, Zong cautions that there are many challenges facing China's anti-monopoly moves, including the presence of state-owned enterprises and the lack of a sophisticated Chinese legislative structure.

Law experts Tan Chong Huat and Amanda Chen observe that the recent halting of Ant Group’s dual listing on the Hong Kong and Shanghai stock exchanges augur more regulatory changes in the micro-loans industry. While this lowers financial stability risk, will more of such regulations hinder fintech advancements? Where’s the middle ground? In their opinion, there is much that Singapore and China can learn from each other in the regulation of emerging technologies.

Yu Zeyuan observes that local governments in China are racing to implement ever-tighter coronavirus measures in the face of an uptick in cases recently. Is this an overreaction and all too much of a show to demonstrate responsibility and preparedness at the citizens’ expense?

Even if it might be a unilateral move, China should embark on its third phase of opening up, says Zheng Yongnian. The first phase of China’s opening up took place after the Opium War while the second was led by Deng Xiaoping’s reforms. Now, in the face of unprecedented challenges of the new century, China must undertake a higher-order opening up, and work towards setting global standards and formulating rules at the international level. These endeavours begin at home, with the domestic standardisation of rules in different regions and localities.

Research analyst Fiona Huang argues that globalisation has a huge part to play in building global financial centres. If basic prerequisites such as close cooperation with regulators and market stability are met, the next-level condition for a flourishing global financial centre is an open attitude towards global capital and culture. How will the changing political milieu around the world today lead to a reshuffle of global financial centres?

A community hospital in Yiwu, Zhejiang, is offering coronavirus vaccinations to the public, as long as they make online bookings and offer proof of work or study in Yiwu. But how reliable are these proofs, and how effective is the vaccine? Zaobao correspondent Chen Jing finds out more.

Even as some dismiss the US and say it is set on a downward trajectory, commentator Deng Qingbo says its powers of recovery are too strong for it to be ruled out. As a superpower, it has the means to make adjustments and move forward. China has much of that resilience too, given that is the only country in the world with an unbroken civilisation of 5,000 years. Deng examines the strengths and weaknesses of both nations in terms of their abilities to recover from setbacks, and their nimbleness in correcting mistakes.

Chinese academic Qiao Xinsheng notes that despite its image of being democratic, the US is driven by capitalism and an individualism enjoyed only by a small number of elites. Such pre-existing conditions lead to a fragmented society made worse by the actions of President Donald Trump.