CHINAMacroReporter

The End of 'Apple Daily' - and Freedom of the Press in Hong Kong

Through arrests and freezing of assets, Beijing has forced the closing of Hong Kong’s last pro-democracy newspaper, the Apple Daily.
by

|

CHINADebate

June 24, 2021
The End of 'Apple Daily' - and Freedom of the Press in Hong Kong

Through arrests and freezing of assets, Beijing has forced the closing of Hong Kong’s last pro-democracy newspaper, the Apple Daily.

  • The founder, Jimmy Lai, a billionaire from the garment industry turned media mogul, is already in prison, with more criminal trials to come.
  • Lai, who didn’t really need to take stands for rights in Hong Kong, didn’t need any of this. And that I guess makes him even more of hero.

As this is occurring, I’m reading The Ideological Origins of the American Revolution (a Pulitzer Prize winner and not nearly as weighty as the title makes it sound – absolutely fascinating)

  • With this in mind I was struck by an editorial in the Global Times, an organ of the Chinese Communist Party.

‘The role Apple Daily plays contradicts the freedom of the press the West advocates.’

  • ‘It has not been "a media outlet with a political stance," but a newspaper which engages in extreme confrontational politics through media.’

The editorial writer clearly hasn’t read The Ideological Origins (or anything else on the function of a free press).

  • From what I gather, were it not for a free press, there probably would not have been an American Revolution.

While that encapsulates how different China’s idea of a free press and that of democracies’ – and why China stamps out the democratic version – it also points up, assuming (which I do) the sincerity of the Global Times editorial writer, just how different the Chinese and western concept of rights is more generally.

  • And, this is one of the reasons why the relationship between China and the democracies will remain fraught – we both say the same thing, but it what it means to each of us is vastly different.
  • [I learned this lesson negotiating the terms, such ‘management control,’ of Sino-western joint ventures.]

On to bitcoin. China, with a 65-75% pre-crackdown share of the industry, is cracking down harder.

  • When I read reports about this, though, I felt as if I had been living under a rock.

Turns out that China isn’t cracking down just to control financial risk (my understanding) but also because of bitcoin mining’s damage to the environment.

  • “Bitcoin alone consumes as much electricity as a medium-sized European country.”
  • Who knew? Clearly most everyone except me.

‘Local governments are under pressure from Beijing to reduce energy intensity — carbon dioxide emissions per unit of gross domestic product — as China aims to reach peak output of greenhouse gas by 2030 and achieve “carbon neutrality” by 2060.’

  • And that pressure flows downhill to bitcoin miners.

Now to the U.S. Senate and something else I didn’t realize.

  • On June 8, the Senate passed the United States Innovation and Competitiveness Act. [That I knew].

What I didn’t know and what Scott Kennedy of the Center for Strategic & International Studies (who has been masterfully analyzing Congress and China for years) explains so well in ‘'Congress on China: Then and Now' is that ‘it is safe to say that this is the most comprehensive action by Congress on China policy EVER.’ [That I didn’t know.]

  • ‘What also comes through from the new measure is how Congress’s view of China has fundamentally flipped.’
  • [Flipped since it two prior big moves: 1979, Taiwan Relations Act, and 2000, granting China permanent normal trade relations (PNTR) status.]
  • ‘Although major actions, these two still would pale in comparison to the Innovation and Competitiveness Act, should it become law.’

‘This bill reconfirms the fact that the United States has abandoned a strategy of facilitating China’s integration into the international system with the expectation that such efforts would result in a more open, market-oriented Chinese economy, a more liberal political environment, and less aggressive activity internationally.’

‘The language of the bill is about a long-term competition with China as opposed to war with an enemy.’

  • ‘Congress has taken a hawkish turn, but it is still pursuing a multifaceted approach that does not foreclose the possibility that U.S.-China relations could eventually be stabilized and not devolve into violent conflict.’

As I have long counselled in these pages, if you want to understand U.S. foreign policy, don’t just watch the Executive Branch, watch Congress too.

  • Now, as Dr. Kennedy makes clear, that is more important than ever.

More

CHINAMacroReporter

July 10, 2022
Building Biden's 'Great Wall' Around China
Whether you view it as an aggressive adversary or a nation asserting itself in ways commensurate with its rising status, China is creating risks – some subtle, some obvious - that, along with reactions of the U.S. and its allies, have to be factored, into every related business, investment, and policy strategy.
keep reading
July 1, 2022
A Debt Crisis of its Own Making
Ever since Xi Jinping announced ‘One Belt, One Road’ in 2013, I watched it expand China’s economic and geopolitical influence and lay the foundation for projecting its military power – and become by many accounts an exploiter of the developing world itself.
keep reading
June 22, 2022
No. Ukraine Won't Change Xi's Plans - or Timetable - for Taiwan
Ukraine won't speed up or delay Mr. Xi's timetable. (But it may cause him to work harder to strengthen China's military and insulate its economy from external pressure.)
keep reading
March 9, 2017
So many twists and turns to the China Housing markets story
[CHINADebate Presentation] One of the highlights in our recent 'In Pursuit of Patterns' series of client notes, showed that the land sales growth had tended to lead the price growth and a significant increase in land sales would lead, with a lag, to the subsequent correction in prices.—Almost everyone on the outside seems to have missed the biggest bull market in China housing in 2016, culminating in policy tightening cycle kicking in at the end of the year. But what's next?
keep reading
February 27, 2017
Is The U.S. Ceding Global Leadership To China?
'China isn't positioned to replace the U.S. as a global leader anytime soon.'—Hard on President Trump's 'American First' inaugural address, Xi Jinping gave a rousing paean to globalism at the World Economic Forum. And, immediately the hot question became: 'Is the U.S. ceding global leadership to China?' Yes and no, says Bill Overholt of the Harvard Asia Center. Yes, the U.S. is ceding global leadership. No, China won’t replace the U.S. What will replace the U.S. is ‘G-Zero’, a world with no single global leader. Not China, not the U.S. So, can his critics lay this outcome at President Trump’s feet?
keep reading
February 15, 2017
C-to-C Internet Commerce- From Taobao Shops to Taobao Villages
One is some of the local government-owned SOEs are the sources for overcapacity. The reason is because the local government also wants to ensure there's some degree of employment locally, and perhaps some source of taxation. The Chinese government is now going to need to start the so-called supply-side economics to try to consolidate overcapacity in a number of sectors. It's going to impinge on the interests of many of these local SOEs as well as the local governments who own them.
keep reading
February 15, 2017
How SOEs & Local Governments Create Overcapacity
One is some of the local government-owned SOEs are the sources for overcapacity. The reason is because the local government also wants to ensure there's some degree of employment locally, and perhaps some source of taxation. The Chinese government is now going to need to start the so-called supply-side economics to try to consolidate overcapacity in a number of sectors. It's going to impinge on the interests of many of these local SOEs as well as the local governments who own them.
keep reading
February 15, 2017
Why SOE Reform is So Tough
'...SOEs need to reform, because on one hand, many of them have achieved a lot for China. On the other hand, they've actually created quite a lot of harm, in particular in the areas of overcapacity but also in the areas of corruption we've talked about.'
keep reading
February 2, 2017
AmCham China Chairmen's View From China in D.C. 2017
[AmCham China & CHINADebate U.S.—China Trade/Business Series 2017] Terrific insights from leaders on the ground in China. While in D.C. the Chairmen joined us in a panel discussion and individual interviews about U.S. business in China, U.S.-China relations, trade, and much more. We present their views in a 13 part series. Sheryl WuDunn, business executive, lecturer, best-selling author, and winner of the Pulitzer Prize moderated.
keep reading
February 1, 2017
'Chinese Politics In The Xi Jinping Era'
[Malcolm Riddell Interviewed Cheng Li] 'If you ask any taxi driver in Beijing, Shanghai, or Guangzhou, he or she will tell you – with accuracy – which leader belongs to which faction. : 'China is a one–party state, but that does not necessarily mean Chinese leadership is a monolithic group with leaders who have the same ideas, same background, same world views, same politics. No, they're divided.'
keep reading
December 7, 2016
First 100 Days: Do Not Provoke China
The First 100 Days interview series features Pacific Council experts addressing the top foreign policy issues facing the incoming Trump administration.: Warns of the potential for new conflicts if Donald Trump follows through with his campaign promises regarding China.
keep reading
October 18, 2016
How Alibaba, Xiaomi, & Tencent are Changing the Rules of Business
[An Interview of Ed Tse, the author of 'China's Disruptors: Alibaba, Xiaomi, & Tencent... how innovative 'Disruptor' companies are restructuring China's economy.' ] The real force in Chinese economy is increasingly private companies, not SOEs. / Leading private Chinese companies are innovative and ambitious
keep reading
July 14, 2016
How 'Brexit' Will Impact China's Economy
David Dollar gives you fresh insights to better incorporate Brexit's impact into your analyses of China and global economies & markets, including: 1. Why, after the Brexit vote, did the Shanghai Stock Market fall only 1%? 2. How will Brexit affect the value of the RMB and China's currency policy? 3. How will Brexit impact trade with the EU, China’s largest trading partner? 4. Why, in the larger geopolitical perspective, could China be the big winner from Brexit?
keep reading
July 2, 2016
China housing: boom, bust, or bubble-or...?
100s of Cities Bubble Up & Down As Policy Makers Press the Levers China hasn’t collapsed. And, the bubble hasn’t burst because there may not be just one big real estate bubble. Instead, there are 100s of sizable cities, each moving in its own cycle, each responding to how its local policymakers stimulate & tighten-stimulate & tighten, and each having performance divergent from that of other cities. Watch here to see how city-level markets bubble up and bubble down...
keep reading

Heading

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.