Technology

Despite a booming electric vehicle (EV) market in China, local EV manufacturers are facing a tough road ahead as the Chinese government cuts subsidies and EV giant Tesla increases its competitiveness by lowering prices. Chinese financial commentator Tan Haojun believes that Chinese EV manufacturers would need to compete in terms of research and development in order to stay in the EV market.

Amid ongoing tensions, a high-level visit by US Secretary of State Antony Blinken to China in the coming week shows hope for improved relations between the two economic powerhouses. Zaobao correspondent Yu Zeyuan notes that while the meeting may not produce practical results, it is a much needed exchange to manage and control China-US relations from worsening.

India holds the prospect of driving the biggest change in the global economy in the next quarter century just as China did in the previous one, says economic professor Arvind Panagariya. India has several factors in its favour, but it must also push ahead with its reform agenda and open its economy wider to friendly countries through free trade agreements to make the best of its time in the sun.

Chinese billionaire Jack Ma has given up controlling rights in the company he founded, Ant Group Co. All eyes are now on what lies ahead for Ant and Alibaba, which owns 33% of the company and was co-founded by Ma.

While China-Middle East cooperation is predicated on strong energy cooperation, other facets will come to the fore as regional geopolitical balancing intensifies. Technology transfer and imparting values for cyberspace are just a few key influences that China hopes to assert in the region. However, an imperative remains that the Gulf looks to the West for its security needs.

As the semiconductor industry is a highly complex and truly global ecosystem, academic James Pang assesses that the US’s increasingly restrictive policies to contain China’s semiconductor industry will affect those of other countries as well. Will the global semiconductor industry pivot from globalisation and cooperation to regionalisation and competition?

Researcher Ding Ke looks at the US’s Chip 4 alliance initiative and its implications for China’s semiconductor industry. With the US seemingly intent on containing China’s high-tech industries, it will take a lot of effort for China to keep this sector going and growing, especially if the Chip 4 alliance works out.

Since last month, China and South Korea have been engaged in a tussle of tit for tat when it comes to Covid-19 travel controls. From visa suspensions to “yellow tags” on Chinese travellers entering South Korea, it remains to be seen whether the current back and forth will affect months of China’s diplomatic efforts with South Korea, especially since Yoon Suk-yeol took office.

Delivering the keynote address of the ISEAS-Yusof Ishak Institute’s Regional Outlook Forum 2023, Singapore’s former Foreign Minister George Yeo spoke about the ways that ASEAN’s weakness is also a strength in the transition to a multipolar world.