CHINAMacroReporter

Xi Jinping: 'Change unseen for a 100 years is coming.'

Time went of joint in the mid-1800s when China began its ‘Century of Humiliation.’ And Mr. Xi, with a sense of destiny, seems to feel he was born to set it right. (I very much doubt that Mr. Xi would add: ‘O cursed spite’ – he seems to relish his role and the shot it gives him to go down in history as China’s greatest ruler.)
by

Malcolm Riddell

|

CHINADebate

April 2, 2023
Xi Jinping: 'Change unseen for a 100 years is coming.'

Sorry about the long absence.

  • My back was giving me a heck of a time – but better now. Great to be back.
  • Thanks to all of you who inquired about my absence.

Away from being on the computer every day, I had more time to muse about China.

  • And about Xi Jinping.

I’ll cover three of those musings today.

  1. Mr. Xi has global ambitions but scant resources to achieve them; he may be counting on his worldview, ‘the East is rising, the West is declining,’ to compensate for the resources he lacks.
  2. Mr. Xi is an autocrat, not just because he hails from a Leninist party, but because autocracy has been in the Chinese political DNA for more than 2,000 years; faced with foreign challenges to autocracy Chinese emperors never faced, he is working to make the ‘world safe for autocracy’ - especially China's.
  3. Mr. Xi is painfully aware of China’s frustration and prior humiliation at the hands of the West and Japan and sees himself as the restorer of the Middle Kingdom, putting China again atop the world order.

PART ONE | XI JINPING’S GLOBAL AMBITIONS & RESOURCES


[.cmrred]1 | ‘Change unseen in 100 years is coming.’
Among the many events during my absence, I was struck by Mr. Xi’s comment as he was leaving Moscow after his 40th meeting with Vladimir Putin:

  • ‘Change is coming that hasn’t happened in 100 years. And we’re driving this change together.’

What change does Mr. Xi have in mind?

  • A broad outline can be found in the March 30 speech on EU-China relations by EU Commission President Ursula von der Leyen.
  • Besides defining the change, she presented the most concise – and in my view, most clear-eyed – assessment of China and its objectives and actions. I cannot encourage you more to read it.
  • She noted, as I did above:

‘Most telling were President Xi's parting words to Putin on the steps outside the Kremlin when he said:’

  • ‘Right now, there are changes, the likes of which we have not seen for 100 years. And we are the ones driving these changes together.'

Throughout her speech, she outlined what change Mr. Xi seeks to accomplish and how:

1. ‘We heard that last October when President Xi told the Communist Party Congress that by 2049 he wanted China to become a world leader in ‘composite national strength and international influence'.’

  • ‘Or to put it in simpler terms: He essentially wants China to become the world's most powerful nation.’

2. ‘In his report to the recent Party Congress, President Xi told the Chinese people to prepare for struggle.’

  • ‘It is no coincidence that he used in his opening speech the words ‘douzheng' and ‘fendou' repeatedly – which both can be translated as struggle.’

‘This is indicative of a world view shaped by a sense of mission for the Chinese nation.’

3. ‘[T]he Chinese Communist Party's clear goal is a systemic change of the international order with China at its centre.’

  • ‘We have seen it with China's positions in multilateral bodies which show its determination to promote an alternative vision of the world order.’
  • ‘One, where individual rights are subordinated to national security.’
  • ‘Where security and economy take prominence over political and civil rights.’


[.cmrred]2 | But will they have China’s back in a fight?
Do Mr. Xi and Mr. Putin and their friends have the economic, political, and military firepower to drive such change against the array of advanced democracies?

  • Doubtful.

No doubt Mr. Xi has thrown in with Mr. Putin for the long run.

  • But, given the showing in Ukraine, Russia is proving to be, as someone put it, ‘a gas station with nukes’ – still, we can’t ignore the nukes.

Mr. Xi has one ally, North Korea, and a number of friends, including Russia, Iran, Pakistan, and others.

  • Even accounting for China’s economic and growing military might, taken together, Mr. Xi and his friends are no match for the U.S. and its array of allies: NATO, Japan, Korea, and Australia, along with other nations fearful of China’s aggression.
  • If it came to a fight, I ask myself, how many of Mr. Xi’s friends would join him versus how of the U.S. allies would join America – and if all of Mr. Xi's did, would it make a difference?


[.cmrred]3 | Marxist history to the rescue
Given this relative weakness, Mr. Xi, as a dedicated Marxist, may be counting on history to make up the difference.

  • Ever since the Bolsheviks succeeded in Russia (and before, in theory), Marxists have had faith that capitalism will author its own demise – and they are still waiting.

Corollary to this is Mr. Xi’s faith - against all evidence – expressed in his oft-repeated slogan:

  • ‘The East is rising, and the West is declining.’

As Peking University’s Wang Jisi notes in  ‘Wang Jisi: Has America declined? Chinese people should have a clear understanding’ [‘王缉思: 美国到底有没有衰落? 中国人应有清醒认识’]:

  • ‘Chairman Mao emphasized in 1957 that “the east wind overcomes the west wind”. At that time, China’s view was “the enemy is declining day by day, and we are getting better day by day”.’
  • ‘Now we say, “the East is rising, and the West is falling,” which is from the same lineage.’

Speaking of Mao, this reminds me of the song, a paeon to the Chairman and often referred to as China’s unofficial national anthem, ‘The East is Red,’ which begins:

  • ‘The east is red, the sun is rising.’

The song is aspirational.

  • The East was not Red when the current lyrics were first heard in 1942.
  • And, with a couple of exceptions, it is not Red today.

Likewise, the idea of rise and decline goes back to Mao.

  • Just as Mao got it wrong, so has Mr. Xi.

For Mr. Xi, ‘The east is rising, and the west is declining’ encapsulates a two-prong approach to that will allow him to make change not seen 100 years. If this is broadly right, he is basing his success on two faulty premises –

  1. The East is rising.
  2. The West is declining.

Taking the second prong - ‘the West is declining’ - first, I couldn’t disagree more.

‘The story­line is the same.’

  • ‘The United States is slowly losing its commanding position in the global distribution of power.’
  • ‘The East now rivals the West in economic might and geopolitical heft, and countries in the global South are growing quickly and taking a larger role on the international stage.’

‘But in truth, the United States is not foundering.’

  • ‘The stark narrative of decline ignores deeper world-historical influences and circumstances that will continue to make the United States the dominant presence and organizer of world politics in the twenty-first century.’
  • ‘The deep sources of American power and influence in the world persist.’

As for the second prong – ‘the East is rising’ – I couldn’t agree more. But why Mr. Xi is encouraged by this is beyond me.

  • The East is rising, all right – rising against China.

In the lead to his essay, ‘How China Lost Asia,’ former South Korean foreign minister, Yoon Young-Kwan, notes:

  • ‘China’s efforts to bully its neighbors into acquiescing to its demands and preferences have failed.’
  • ‘They have led Asia's democracies to deepen security cooperation with the United States.’

This East is rising, but it’s rising in tacit or direct opposition to China – from just plain fear generated by Mr. Xi himself. As a result,

  • Japan is toughening its defenses; Australia’s formally put in with the U.S. and the UK; the Philippines is granting the U.S. more bases; even South Korea and Japan are trying to reconcile in a ‘the enemy of my enemy is my friend’ sort of way - and much more.

A rising East is an obstacle, not an asset, in attaining the change Mr. Xi aspires to make.

  • If the East had become Red, China would no doubt have a slew of Asian comrade nations allies. But it didn’t, and he doesn’t.

The East is not rising (at least not in the way Mr. Xi wishes), and the West is not declining.

  • If Mr. Xi is indeed waiting for a Marxist history to vindicate his vision and deliver change unseen in 100 years, he will have a long wait – history is not coming.

PART TWO | XI JINPING, AUTOCRAT

Xi Jinping, autocrat and friend of autocrats.

  • His reported mission: Make the world safe for autocracy.
  • Foe of Joe Biden in Mr. Biden’s Manichean struggle between democracy and autocracy.

There are upstart autocrats who gain power through revolution, coups, subverting democracies, and the like.

  • Not Mr. Xi.

He is an autocrat, first, as a believer in the Leninist Chinese Communist Party doctrine.

  • And second, as heir to a 2,000-year-old tradition of autocracy - since the Qin Dynasty, 221 B.C., China has had, with few exceptions, a top-down government, headed by a supreme leader, and governed by an all-encompassing bureaucracy.


[.cmrred]1 | The latest in a long line of Chinese autocrats
Decades ago, I read an essay by John King Fairbank that posited that the Chinese Communist Party was really just the latest Chinese dynasty. While I can’t put my hands on the essay, I found the same idea in Dr. Fairbank’s 1989 essay, ‘Keeping up with the New China’:

  • ‘The Chinese Communist party dictatorship is historically the successor to two thousand years of sweet-talking despotism by dynastic ruling families.’

More from Dr. Fairbank in his 1989 ‘Why China’s Rulers Fear Democracy’:

  • ‘In the twentieth century the institutional successor to family dynasties proved to be Party dictatorship, first as attempted rather loosely under Chiang Kai-shek and the Kuomintang and second as achieved more tightly under Mao Zedong and the CCP.’

And Dr. Fairbank again from ‘From the Ming to Deng Xiaoping’:

  • ‘The imperial autocracy, an institution persisting through the Ming, Ch’ing, Republican, and People’s Republic eras….’

‘This autocracy as a point of Chinese cultural distinctiveness is of course surrounded by a host of interconnected characteristics of social structure and values—like the bureaucrat’s need for a superior authority, the patriot’s search for a personal object of loyalty, or the common people’s acquiescence in the ruler’s violence in support of order.’

  • ‘China’s culture of today, despite the inflow of foreign influences, retains its identifiable shape and interacting elements.’

Making Xi Jinping the latest in a long line of autocrats - and proud of it.


[.cmrred]2 | ‘Making the world safe for autocracy’
Mr. Xi seems increasingly like an autocrat in the imperial mode (without familial succession)

  • But unlike the time when an emperor ruled over the Middle Kingdom, he is faced with adversaries who challenge his autocracy, and he is acting to counter them.

Michael Beckley and Hal Brands highlight both in their essay, ‘China’s Threat to Global Democracy.’

  • For the Chinese Communist Party, ‘autocracy is not simply a means of political control or a ticket to self-enrichment.'
  • It is ‘a set of deeply held ideas about the proper relationship between rulers and the masses.’

‘This belief in the superiority of an autocratic Chinese model coexists with deep insecurity:’

  • ‘The PRC is a brutally illiberal regime in a world led by a liberal hegemon, a circumstance from which the CCP draws a sense of pervasive danger and a strong desire to refashion the world order so that the PRC’s particular form of government is not just protected but privileged.’

‘Chinese leaders feel a compulsion to make international norms and institutions friendlier to illiberal rule.’

  • ‘That is why a powerful but anxious Chinese regime is now engaged in an aggressive effort to make the world safe for autocracy and to corrupt and destabilize democracies.’

‘The rulers in Beijing feel that they must wrest international authority away from a democratic superpower with a long history of bringing autocracies to ruin.’

  • ‘And as an authoritarian China becomes powerful, it inevitably looks to strengthen the forces of illiberalism—and to weaken those of democracy—as a way to enhance its influence and bolster its own model.’

In a modern world where China has re-emerged with the power to try to reshape the international order, it makes sense that Mr. Xi would do what he can to make the world safe for China’s autocracy.

  • And to weaken the opponents who oppose him.

PART THREE | XI JINPING, RESTORER OF THE MIDDLE KINGDOM

Thinking of Xi Jinping, I think of two parts of a line from Hamlet:

  • ‘The time is out of joint,’ and
  • ‘I was born to set it right.’

Time went of joint in the mid-1800s when China began its ‘Century of Humiliation.’

  • And Mr. Xi, with a sense of destiny, seems to feel he was born to set it right.
  • (I very much doubt that Mr. Xi would add: ‘O cursed spite’ – he seems to relish his role and the shot it gives him to go down in history as China’s greatest ruler.)


[.cmrred]1 | ‘The time is out of joint.’
John King Fairbank wrote in his 1966 ‘New Thinking About China’:

  • ‘Down to the nineteenth century, China was its own world, an enormous, ancient, isolated, unified, and self-sufficient.’
  • ‘It preserved a continuity of development in the same area over some three or four thousand years, and had a strong tendency to look inward.’

‘China was the center of the known world and of civilization.’

  • ‘Non-Chinese were peripheral and inferior.’
  • ‘China was superior to all foreign regions.’

‘The disaster that hit China in the nineteenth century is one of the most comprehensive any people has ever experienced.’

  • ‘The ancient tradition of China’s superiority, plus this modern phase of disaster, undoubtedly produced one first-class case of frustration.’
  • ‘It could not seem right that a civilization once at the top should be brought so low.’

Mr. Xi seems to feel China’s humiliation and frustration in his bones.

  • All this is echoed in his overarching initiative: the China Dream.


[.cmrred]2 | ‘I was born to set it right.’
‘The CCP’s mandate is to set history aright by returning China to the top of the heap’ write Drs. Beckley and Brands.
‘In some ways, China’s bid for primacy in Asia and globally is a new chapter in the history’s oldest story.’

  • ‘As countries grow more powerful, they become more interested in reshaping the world.’
  • ‘Given how rapidly China’s power has increased over the past four decades, it would be very odd if Beijing was not asserting itself overseas.’

‘Yet China is moved by more than the cold logic of geopolitics.’

  • ‘It is also reaching for glory as a matter of historical destiny.’

‘China’s leaders view themselves as heirs to a Chinese state that was a superpower for most of recorded history.’

  • ‘A series of Chinese empires claimed “all under heaven” as their mandate and commanded deference from smaller states along the imperial periphery.’

‘In Beijing’s view, a U.S.-led world in which China is a second-tier power is not the historical norm but a profoundly galling exception.’

  • ‘That order was created after the Second World War, at the tail end of a “century of humiliation” during which rapacious foreign powers had plundered a divided China.’

Again from Dr. Fairbank:
‘The most remarkable thing about China’s political history is the early maturity of the socio-political order.’

  • ‘The ancient Chinese government became more sophisticated, at an earlier date, than any regime in the West.’
  • ‘Principles and methods worked out before the time of Christ held the Chinese empire together down to the twentieth century.’

‘The fact that this imperial system eventually grew out of date in comparison with the modern West should not obscure its earlier maturity.’

  • All what we might call the ‘institutional memory’ that Mr. Xi draws on today -

China is not groping to find its way or unsure of where it belongs – or doubtful about its role in shaping the world order.

  • And Mr. Xi believes he was born to set it right.

More

CHINAMacroReporter

January 2, 2023
Xi Jinping: Bad Emperor?
Some have asked me what will be the greatest risk to China in the next five years. My answer: That Xi Jinping will overstep and enact policies that Chinese people won’t accept, especially those that have a direct impact on their lives and livelihoods.
keep reading
November 22, 2022
'Strangling with an intent to kill.’
I began to have some hope of getting our act together with Mr. Biden. He worked to rebuild relations with allies who could join the U.S. in the competition. And he understood the need for America to strengthen itself for competition. Hence, the infrastructure, CHIPS, and other acts. But whether Mr. Trump or Mr. Biden, one thing nagged me beyond all the rest. Why is America strengthening our competitor? — In the instant case: Why is America giving our competitor advanced semiconductor resources to strengthen itself to compete against us?
keep reading
October 31, 2022
Xi's China: 'less reliable, less predictable, and less efficient'
‘China’s predictability is being eroded by the frequent, erratic policy shifts that have taken place in recent months, such as the unexpected disruptions to power supplies that took place in 2021, and the sudden mass lockdowns that were imposed in an attempt to contain COVID.'
keep reading
January 13, 2021
Kurt Campbell & Biden Asia Policy
In today’s issue: 1. Kurt Campbell: Biden's 'Indo-Pacific Coordinator' / 2. 'How America Can Shore Up Asian Order' by Kurt Campbell
keep reading
January 9, 2021
'Matt Pottinger resigns, but his China strategy is here to stay'
‘Even though Pottinger’s name was largely unknown to the public, his influence on U.S. foreign policy will be felt for years to come.’
keep reading
January 9, 2021
'The Relevant Organs' Pro Tip: 'You Definitely Need a Show Trial'
Spitballing here, GOP friends, but Josh Hawley, Ted Cruz, Ron Johnson and Marjorie Taylor-Greene would make an excellent Gang of Four, if you need a show trial.
keep reading
January 9, 2021
How the Chinese reacted to the incident at the Capitol
In this issue: 1. China Reacts / ‘On Double Standards’ - 'Chinese netizens jeer riot in US Capitol as "Karma," say bubbles of "democracy and freedom" have burst' - 'A Few Tweets from Hu Xijin 胡锡进, Editor of The Global Times' / 2. ‘Architect of Trump China Policy Resigns’ - 'Matt Pottinger resigns, but his China strategy is here to stay' / 3. A Pro Tip from 'The Relevant Organs' - 'Dealing with Insurrectionist Leaders the Chinese Way'
keep reading
January 9, 2021
'On Double Standards'
‘Besides, facts are there, beyond anyone's denial, regardless of whether they came up in the Chinese media reports or not.’
keep reading
January 6, 2021
'Mo money, Ma problems - Chinese trustbusters’ pursuit of Alibaba is only the start'
'Chinese trustbusters long resisted hobbling an industry seen as world-beating, and backed in Beijing. Now, as in the West, they fret that a few giants control indispensable services—e-commerce, logistics, payments, ride-hailing, food delivery, social media, messaging.’
keep reading
January 6, 2021
'Mo Money, Ma Problems'
In today’s issue: 1. Eurasia Group| ‘Top Risks of 2021’ / 2. Biden & the EU-China Investment Agreement / 3. The EU-China Investment Agreement: Pro & Con / 4. China's Antitrust Investigation into AliBaba
keep reading
January 6, 2021
PRO | 'The Importance of the EU, China Investment Deal'
‘But we should not have waited for the Biden administration to sort things out. Wait for what? We don't know if China will be more responsive if the three parties sit together. We don't have a timeline. Shall we wait another two or three years?’
keep reading
January 6, 2021
'China and E.U. Leaders Strike Investment Deal, but Political Hurdles Await'
‘China appeared eager to reach an agreement before Mr. Biden takes office in January, calculating that closer economic ties with the Europeans could forestall efforts by the new administration to come up with an allied strategy for challenging China’s trade practices and other policies.’
keep reading
January 6, 2021
'China’s Pro-Monopoly Antitrust Crusade'
‘But Chinese regulators are unlikely to stop at Alibaba; China’s entire private sector has a target on its back.’
keep reading
January 6, 2021
‘Top Risks of 2021’: CHINA
'Overall, this year will experience an expansion of a high level of US-China tensions.'
keep reading
January 6, 2021
CON | 'Europe has handed China a strategic victory'
“We’ve allowed China to drive a huge wedge between the US and Europe.”
keep reading
January 6, 2021
'With Concessions and Deals, China’s Leader Tries to Box Out Biden'
‘Mr. Biden has pledged to galvanize a coalition to confront the economic, diplomatic and military challenges that China poses. China clearly foresaw the potential threat.’
keep reading
January 5, 2021
'Sansha City in China's South China Sea Strategy: Building a System of Administrative Control'
‘Sansha City, headquartered on Woody Island in the Paracel Islands, has created a system of party-state institutions that have normalized administrative control in the South China Sea. This system ultimately allows China to govern contested areas of the South China Sea as if they were Chinese territory.’
keep reading
January 1, 2021
Competition With China Could Be Short and Sharp
‘The bad news is that over the next five to ten years, the pace of Sino-American rivalry will be torrid, and the prospect of war frighteningly real, as Beijing becomes tempted to lunge for geopolitical gain.’ / ‘Historically, the most desperate dashes have come from powers that had been on the ascent but grew worried that their time was running short.’
keep reading
October 7, 2020
'Rivers of Iron': Changing the Face of Asia
‘But what's happened now is that Southeast Asia is rich enough to contemplate such infrastructure and that the Chinese have the technology, money, and high-speed rail industry so that they can both finance or help finance and build it.’
keep reading
August 27, 2020
Why China's Economy is Growing Faster than Others
‘First is China's relatively aggressive and decisive measures on the COVID public health crisis itself that managed to get the pandemic under control much faster than the other large economies.’ ‘The relative success in controlling the pandemic translates into how much people are willing to go back to their normal lives, to their jobs, and the like.’
keep reading
May 20, 2020
The Chinese Communist Party Fears Ending Up Like the Soviet Union
‘The propaganda ministry - within four to six weeks - managed to turn China into a problem for Europeans. China’s standing in Europe is eroding by the day.'
keep reading
May 13, 2020
The Party is Infallible
'The Hong Kong demonstrations can never be because of policy mistakes by the Communist Party itself.’ During our interview, Tony Saich of the Harvard Kennedy School told me: ‘Hong Kong, with its responses to the demonstrations, and the Coronavirus are both illustrative examples of how the culture of the Communist Party and the traditions it's built up over almost a hundred years reflect the way it behaves when it's confronted by certain crises.’
keep reading
May 6, 2020
The Phase One Trade Deal
‘The good news is that 80% of our members said they thought the Phase One agreement was a good thing.' 'But only 19% said it was worth it.' 'What the 80% said they are happy about was that there no more new tariffs were coming immediately.’
keep reading
May 2, 2020
South China Sea & Taiwan
'It would not be accurate to say China claims the entire South China Sea as its sovereign territory because the Chinese are unclear about what exactly their claim is and what it is based on.'
keep reading
April 29, 2020
Why Inflation Should Not Be A Problem
‘This is a crisis where the first chair is held by the public health officials, and the second chair is held by the fiscal authorities. We at the Fed have the freedom to be able to move relatively quickly, but we're the third chair here, trying to help out where we can.’
keep reading
April 25, 2020
China, America, & the 'Jaws Syndrome'
‘Both Trump and Xi have a fundamental political divide problem that the COVID-19 epidemic has exposed and made more apparent – and made substantially worse.’
keep reading
April 22, 2020
Why We Need Stronger Global Institutions
‘The trade war was actually about the dissemination of knowledge, knowledge transfer, technological transfer.’ ‘A great irony. We need global institutions or arrangements to deal with trade, technology, and health because individuals, corporations, and national governments cannot.’
keep reading
April 18, 2020
The Pandemic's Impact on Trade
‘There are some people who would say that there was already a retreat from globalization underway.’ ‘The tools of globalization - enormous reductions in the cost of transportation and communication - remain.’ ‘But the marginal utility actually of further advances is declining – that would be one way to put it.’
keep reading
April 11, 2020
The Pandemic May Increase China's Economic Strength vis-à-vis the U.S.
‘Well, I think people around the world are rightly suspicious of the Chinese as they are probably equally suspicious of the Americans.'
keep reading
April 30, 2018
'Big lessons from the faulty analysis that spiked the Shanghai stock market'
ProTips from Andrew Polk, Trivium China On April 24, equity analysts interpreted a phrase used in a Politburo meeting readout to signal a new round of economic stimulus. And, the Shanghai stock market, one of the world's worst performers, spiked 2%. On April 25, having much earlier advised and protected clients, Andrew Polk of Trivium China published an analysis in Trivium's daily (and free) Later, Andrew and I talked about how he reached his conclusions. His explanation is a masterclass in how experience, discipline, and some tedious slogging, combined with a sound analytical framework, lead to good China analysis.
keep reading
April 18, 2018
New super-agency, National Supervision Commission—and China's massive government restructuring
'With government restructuring, the biggest thing is the creation of an entirely new branch of government: the National Supervisory Commission. Its entire job is to overlook every single public official in China. It is an institutionalization and deepening of the corruption crackdown that we've seen over the past few years.'In all, Andrew highlighted four major actions from the Two Sessions: 1.Chinese government restructuring 2.The policy roadmap 3.Personnel 4.The legislative agenda + the constitutional amendments
keep reading
April 16, 2018
The Chinese Government’s 9 Economic Policy Priorities in 2018 (and beyond)
[China Econ Observer] 1.Supply-side Structural Reform 2.Innovation 3.The “three critical battles” 4.Deepening reforms 5.Rural revitalization 6.The regional development strategy 7.Increasing consumption and improving investment 8.Opening up 9.People’s wellbeing
keep reading
April 10, 2018
U.S.-China trade dispute: Will China Weaponize the RMB and U.S. Treasury bonds?
U.S.-China trade war: collateral damageConsider the soy bean. 'China is threatened retaliatory tariffs on U.S. soybeans. The U.S. is one of the largest producers of soybeans. If China's not going to buy them, we're going to have an excess capacity.'' So, last week, we saw a soybean selloff.''But there was a complete dislocation in whole soybean supply chains. Downstream products, like soybean oil, didn't move at all in the same way.'
keep reading
April 5, 2018
Behind the U.S.-China trade dispute: 'The West's China gamble has failed.'
What's the root cause of the current friction between the U.S. and China? The West's disappointment that China did follow the western model but its own, argues Ed Tse, CEO of Gao Feng Advisory Company (a member of the China Analyst Network). [Ed's solution] look to the similarities between China and the West, especially in the tech sector, and be alert to China's evolution toward better IPR, market access, and other contentious issues, not just the remaining shortcomings. Below is a video of my discussion with Ed and excerpts from both the interview and his South China Morning Post op-ed, 'Chinese innovation with US characteristics? Maybe China and the West aren’t that far apart, in business at least.' Ed presents insights that differ greatly from the China Echo Chamber in the U.S. Let me know what you think.
keep reading
March 8, 2018
How Trump's tariffs impact China's trade/currency relations with Japan & Korea
[China markets update with TRACK's Bob Savage] 'The currency markets are embroiled in trying to figure out whether the Trump tariffs on steel and aluminum are good or bad for the U.S. economy and the U.S. stock market.'
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.