Chinese institutions & more news

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Chinese institutions

CSIS has a great talk that looks at the resilience of Chinese institutions. The CSIS is a US think tank better known as the Center for Strategic & International Studies. They held a talking on Rethinking Chinese Politics – in terms of having a better understanding of the dynamics and the resilience of the Chinese institutions involved. The recentralisation of power under Xi Jingping was seen to subvert Chinese institutions, but Jiang Zemin’s actions had a similar role in previous years.

Interesting discussion on the resilience of Chinese institutions

Consumer behaviour

China’s Generation N: the young nationalists who have Beijing’s back | South China Morning PostNationalism has been on the rise, encouraged by the Communist Party and put to effective use by President Xi Jinping. Younger generations’ perceptions and expectations of their country differ from those of the past, offering the government support but also challenges – basically China might get screwed over by its own rhetoric and propaganda to its people. However it poses problems for western businesses that rely on the Chinese market

State Media Calls on Hong Kong to Compensate For Tide of Emigration — Radio Free Asia“There is a high proportion of professionals — 12 percent — among those emigrating,” the article said. “The Hong Kong government should pay close attention to the increase in the number of professionals emigrating, and set out a long-term response strategy,” it said. The article appeared particularly concerned over the loss of medical professionals from Hong Kong, suggesting the government focus on recruiting healthcare workers from mainland China and overseas. The exodus looks set to hit the healthcare sector hard, with the Hospital Authority (HA) reporting the loss of 4.6 percent of doctors and 6.5 percent of nurses in public hospitals – there is a similar impact in third level teaching as well

Economics

George Soros: Investors in Xi’s China face a rude awakening | Financial Times – George Soros on Xi Jingping. There isn’t anything in Soros argument that Xi Jingping doesn’t admit himself in this op-ed in Quishi – the CPC’s political theory journal Understanding the New Development Stage, Applying the New Development Philosophy, and Creating a New Development Dynamic

Chinese media back diatribe calling for crackdown to be expanded | Financial Times“The capital market will no longer become a paradise for capitalists to get rich overnight . . . the cultural market will no longer be a paradise for sissy stars and news and public opinion will no longer be in a position worshipping western culture,” – pretty much on point for Chinese state belief. There has been concerns that K-pop idol culture with its androgynous dressing stars would be ruining Chinese macho culture. This also fits into the dialogue about left behind women considered responsible for the decline in birth rate

China to Cleanse Online Content That ‘Bad-Mouths’ Its Economy – Bloomberg 

Finance

Affirm soars 47% after partnering with Amazon to bring buy now, pay later service to the online retail giant | Markets Insider 

Hong Kong

SenseTime heads for IPO on Hong Kong exchange | Financial Times – SenseTime said it was subject to “complex and evolving” laws around data protection, including new draft regulations for cyber security reviews in China. “We cannot predict the impact of the draft measures, if any, at this stage,”

Singapore

PM Lee acknowledges work pass holders bringing in social practices and class distinctions that cause frictions – The Online Citizen Asia – Indian caste system exported

Technology

ARM China Seizes IP, Relaunches as an ‘Independent’ Company – ExtremeTech It is not clear how much pressure was put on SoftBank to form the merger, but this looks like one of the most blatant examples of IP theft that we’ve seen. The Chinese arm of a company has gone rogue and refused to obey the ruling of its own board. The head of that company is essentially treating it as a personal fiefdom, and Chinese authorities do not appear to have taken meaningful action to reign in Mr. Wu. While ARM China does not currently have access to the ARMv9 instruction set or any additional ARM IP, it appears that the company will attempt to use previously transferred assets to bootstrap its own transformation into an “independent” company – yes, sounds about right. China waging war by other means, also splitting fits into China’s desire to self-reliant

Apple CEO Tim Cook Expected To Retire After Completing One Last Product Category / Digital Information WorldTim Cook noted that, when asked, he would probably not be around for Apple in approximately the next ten years. And just like that, one of the most influential men in the world steps down, leaving an unpredictable future in his stead. However, 10 years is a long time, and Tim Cook seems to have an idea as far as establishing a legacy goes. – the hubris of John Sculley and the Newton comes to mind….