Chinese consumers’ boycott of Western fashion brands for their position on cotton sourced from Xinjiang is a sequel to a long-running series of actions against foreign companies. Southeast Asian firms should take note, and act accordingly.
Academic Victor Teo says that Japanese Prime Minister Suga Yoshihide has big shoes to fill as his predecessor Shinzō Abe had made visible and significant achievements on both the domestic and diplomatic fronts. With the Biden administration in place in the US, and a rising China amid a post-pandemic world, how will Suga's Japan engage Southeast Asia? Will he reaffirm the “silent” leadership role that Japan has played in the region through economic and security means? Furthermore, Japan has guided the US in regional matters during Trump's presidency and has been keen to include Southeast Asian countries in the Quad. Can Japan fulfil its security goals without seriously antagonising China?
Amid the gloom, there’s room for optimism in Asia in the post-Covid-19 landscape, says Benjamin Hung, CEO, Asia, Standard Chartered. The pandemic has speeded up structural changes in this growing region’s business landscape, and created greater opportunities which will pave the way for Asia’s strong rebound in 2021 and beyond.
Despite China’s dominance of the rare earth industry, it will not lightly play this card against the US, simply because it knows it is weaker than the US in various areas and the US can well retaliate. Economics professor Zhu Ying looks at rare earths, the weapon of last resort in China’s defence against the US.
After taking a hit in early 2020 due to the pandemic, Singapore-China trade quickly rebounded and looks set to be in healthy territory in 2021. China’s increasing focus on regional trade agreements and industrial chains will give an added push. Academics Li Wenlong and Zhang Shiming give their take on what is in store.
Zheng Weibin asserts that the US will soon be stepping back into an international arena that is much changed. The US cannot hope to regain a unipolar dominance, if it arguably ever had it. Rather, a multipolarity ruled by regional pockets of issues-based interests is taking shape, starting in Asia.
Amid international supply chain restrictions that have stalled China’s chip manufacturing industry, Chinese companies are heeding the country’s clarion call to quickly skill up and help China achieve self-reliance in the field. With all and sundry throwing their hats into the ring, it seems that the country’s currently counting more on enthusiasm, rather than expertise, to make it happen. Will this mean more haste, less speed?
Chinese financial commentator Tan Haojun looks at what China has done right to quickly recover after the pandemic, and what makes international financial institutions and analysts confident about its economy.
China feeds about 20% of the global population, but its overall self-sufficiency in food seems to be dropping. Even though it is self-sufficient in some staples such as wheat, rice and corn, it is less so in others. In fact, it is the largest importer of food in the world. Recent calls by President Xi Jinping to cut food wastage has people thinking that political reasons aside, China’s food supply is at risk. This risk could yet be amplified by changes in land policies, rural-urban migration and more.