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FT report: China cautious on hitting back at US companies after Huawei sanctions

  
  Analysis
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The Financial Times writes that despite mounting political pressure to unveil commensurate restrictions on US businesses in China, Beijing has historically been reluctant to retaliate. 

Analysts think officials will continue to hold back, as they are reluctant to upset the economic benefits and innovation US companies bring to China.
The US administrations targeting of China’s biggest technology groups incldueds moves against:
  • ByteDance
  • Tencent
  • as well as Huawei
Link to FT is here (may be gated).  The FT cite analysts (named in the piece) for the opinions.
If they are right perhaps US-China relations will not chill much further after all.
The Financial Times writes that despite mounting political pressure to unveil commensurate restrictions on US businesses in China, Beijing has historically been reluctant to retaliate. 

China reaffirms that US’ TikTok ban has nothing to do with national security

  
  Analysis
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Comments by the Chinese foreign ministry

US China
  • Beijing has been ‘consistent’ on trade deal
  • Declines to comment on further trade specifics
  • Says position on US sanctions is clear and consistent
  • Says US sanctions are irrational, groundless
  • Reiterates opposition towards ties between US and Taiwan
There’s nothing really new here as this has been China’s stance all along but it does reaffirm expectations that both sides have a lot more than just the Phase One trade deal to discuss if they were to meet later this week.

German Minister of State for Europe Roth says there will be “no business as usual” between EU & China

  
  Analysis
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Michael Roth, German Minister of State for Europe in an pinion article in German news magazine Der Spiegel

  • will be “no business as usual” between the European Union and China following the assertive political moves on Hong Kong
  • urged fellow EU nations not to “be afraid to lock horns” with Beijing.
    referred to China by its autocratic political structure, casting it as a systemic rival that has “unfortunately” challenged Europe’s “foundation of values”
Via South China Morning Post, link here for more (may be gated).
china Germany

China imposes restrictions on travel to Beijing

  
  Analysis
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More signs of how serious Beijing is taking the epidemic

Bus travel corona virus
China reported 10 new coronavirus cases in Beijing today and there are now 51 cases in the city.
The latest restrictions prevent bus travel to Beijing from elsewhere. Private cars and trains are still allowed but passengers via those methods are more-often tracked.
As CNBC Beijing correspondent Eunice Yoon reports:

(more…)

China only a hair away from US in Fortune Global 500

  
  Analysis
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China is now neck and neck with the U.S. in Fortune Global 500 members, reflecting a shift in economic power that lies at the heart of trade tensions between Beijing and Washington.

This year’s ranking of the world’s 500 largest businesses by year-earlier revenue includes 119 Chinese companies, up from 111 in 2018. U.S. enterprises declined to 121 from 126. Two decades ago, Chinese entries numbered in the single digits. So “though China has a stronger presence near the bottom of the roster than the top, it’s clear where the momentum is,” wrote Clifton Leaf, editor-in-chief of Fortune magazine.

Among the 39 Chinese companies in this year’s top 150, all but five are state-owned enterprises. They include banks, automakers, and such energy giants as Sinopec Group, China National Petroleum and State Grid, which have solidified their positions in the top 10.

Major Chinese major technology companies are rapidly moving up the ladder, with Alibaba Group Holding and Tencent Holdings climbing 118 and 94 rungs to No. 182 and No. 237. Hong Kong-listed Xiaomi debuted on the list at No. 468.

These patterns highlight core issues underlying the Sino-American trade war: China’s rising economic prowess, a technology race where it is rapidly catching up, and a clash of economic paradigms. (more…)

China Has Fastest Train in the World, Travels 245mph, 394Km!

  
Analysis, Education, Video
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“The train can go 394.2 kilometres per hour, it’s the fastest train in operation in the world,” Zhang Shuguang, head of the transport bureau at the railways ministry, told Xinhua. By comparison, the average for high-speed trains in Japan was 243 kilometres per hour while in France it was 277 kilometres per hour, said Xu Fangliang, general engineer in charge of designing the link, according to Xinhua. Beijing has an ambitious rail development programme aimed at increasing the national network from the current 86,000 kilometres to 120,000 kilometres, making it the most extensive rail system outside the United States.”


 

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