Capitalism

Qiao Xinsheng points out that one should not have any expectations about the globalisation of the job market. In the internet economy era, even though internet platform companies facilitate capital’s global search for talent, this has not improved labour’s freedom of movement in search of better job opportunities. Cheap labour will continue to be exploited through the long arms of overseas capital. Not only that, with these companies' technology-enabled capabilities to collect massive amounts of data, national security will be a concern.

Over a century, the city of Shanghai saw it all. Westerners fell in love with Republican Shanghai, where commerce and culture flourished; Japanese invaders advanced and retreated; communism and capitalism vied for a stage. Despite these ups and downs, Shanghai has maintained a demeanour and style unto itself. Historical photo collector Hsu Chung-mao traces Shanghai’s days of glamour and the front-row seat it had in war, revolution, and reform.  

As Chinese authorities take action against monopolistic behaviour and the “disorderly expansion of capital”, companies like Alibaba and founder Jack Ma are finding themselves falling out of favour not only with the authorities but with the public. The latest development is the name change for Hupan University, established by Ma, where the motivations of the institution have come under question. Zaobao correspondent Chen Jing looks at the issue.

US-based Chinese researcher Zhou Nongjian takes a close look at Biden’s US$6 trillion stimulus plans to improve the US economy and meet the challenge from China. He asserts that infrastructure-building and poverty assistance plans are stop-gap measures that will not address fundamental problems such as the US’s loss of industries and declining national strength. Is the US president putting the cart before the horse?

Due to the US's historical and political heritage, Americans assume that they are one up on other countries when it comes to human rights. Chinese academic Sun Peisong notes that the US's human rights record has actually been less than perfect. But how is it that they can be in denial about their own faults while accusing others of human rights violations?

Alibaba’s name is said to be inspired by the song that goes: “Ali Baba is a happy youth!” But after the halting of Ant Group’s listing and being slapped with a 18.228 billion RMB fine, Alibaba faces headwinds. In their anti-monopoly efforts, the authorities seem to have no qualms about making an example of companies like Alibaba. Zaobao correspondent Yu Zeyuan analyses the situation.

Amid a strong sense that the East is on the rise while the West is in decline, China’s annual Two Sessions came to a close on a confident note, says Han Yong Hong. This augurs well for China’s plan to reach its goal of having a per capita GDP of a moderately developed country by 2035. However, the proof of the pudding is in the eating and unforeseen variables can still develop at every turn.

The 21st century sees the convergence of the Chinese socialist system and its American capitalist counterpart across the global arena, and that convergence is a critical turning point in history, says Zhu Ying. With China exhibiting real muscle on the international stage, the US must prove that the democratic system will prevail. To do this, it must not only get its house in order, but offer credible solutions to the world.

Rather than perpetuate the “giant baby syndrome” of mollycoddled citizens, says Lance Gore, the Chinese government should go against its combative instincts and focus on harmony. Only then can it forge an inclusive social contract with the populace, where there’s room for active citizenry and a healthy civil society.