Huawei’s Ren: into the media spotlight
When the head of a $35bn company makes his first-ever media appearance, you would expect a big splash. But that couldn’t be further from the intentions of Ren Zhengfei, founder of Huawei, the world’s second-largest network equipment vendor.
After hiding from the media for more than 25 years, Ren tested the waters with a media appearance that would not have an immediate global impact. He therefore chose to meet with four local reporters in Wellington, New Zealand, on Thursday. Continue reading »
Invasion, poison and tofu: Chinese petition Obama for help
When the White House created a petitioning website in 2011, it surely didn’t count on Barack Obama being asked to invade China, rule on the flavour of tofu and investigate a two-decade old Chinese poisoning case.
But that is exactly what has happened over the past week as Chinese people, motivated variously by a sense of justice, powerlessness or just plain humour, have flooded the White House “We the People” website. Continue reading »
Chart of the week: China’s patent / royalty disconnect
If a mark of being a developed country is innovation, then look out: China is certainly throwing ideas about.
The number of patent applications from China has overtaken those from the US, a remarkable catch-up over the last few years. But does this mean China will soon be exporting ideas in the way it has exported manufactured goods? Chart of the week takes a look. Continue reading »
[video] China / US: a second ‘great rotation’?
There has been a lot of talk about the ‘great rotation’ from bonds to stocks but are we about to see one from east to west, from China to the US? Chris Watling of Longview Economics talks to the FT’s John Authers about green shoots in the US – and worries in China.
Amcham China: data theft is rife
More than a quarter of US companies surveyed by the American Chamber of Commerce in China say they have had trade secrets stolen or compromised through cyber-attacks on their China operations, adding weight to US accusations that Beijing is behind numerous corporate espionage attacks. Continue reading »
Sinochem’s $1.7bn foray into US shale
How much is the US’s expertise in developing shale gas and oil worth?
$1.7bn if you are Sinochem. The Chinese state-controlled oil and chemical conglomerate on Wednesday made its first foray into the US energy sector, snapping up a 40 per cent stake in a Texas shale oil and gas development from Pioneer Natural Resources. Continue reading »
Chinese rating agency Dagong warns on US fiscal cliff
The US still has a few days to avert the fiscal cliff, but a prominent Chinese ratings agency is not waiting around. Dagong has already served notice of what failure might mean, putting the US sovereign rating on its negative watch list.
It is tempting to dismiss the Dagong statement as a publicity stunt, its latest in a long line of downgrades and warnings directed at the US. But Dagong’s criticism is a good reflection of views that are commonly expressed in Beijing. And given that China is the biggest foreign holder of US government bonds, these views deserve a hearing. Continue reading »
US official rebuts Africa trade criticism
The Africa Growth and Opportunity Act, a US law passed in 2000, was geared to enable African countries to export over 4,000 products quota-free and duty-free to the US.
But a recent paper published by the Centre for the Study of African Economies at Oxford University claimed the AGOA had been inadvertently allowing Chinese apparel producers to send products to the US through Africa, gaining free access but with minimal assembly and value-added for the African countries they operated in.
Florie Liser (pictured), assistant US trade representative for African affairs, rejects the researchers’ claim. Continue reading »
China in Africa: taking advantage
US-Africa trade received a welcome boost with the signing of the African Growth and Opportunity Act (AGOA) back in May 2000, which enabled African countries to export over 4,000 products, including apparel, quota-free and duty-free to the US. Geared to support the integration of African countries into global markets, AGOA has enjoyed cross-party support in US legislature that is often divided, especially on trade. It has been renewed several times by different presidents. Helping Africa, it seems, is something everyone can agree on.
But they might, unwittingly, have been helping China, too. Continue reading »
China: party cells aid capitalism
When a US Congressional committee branded Huawei, one of the world’s largest telecom equipment makers, a threat to the country’s national security last month, one of the reasons cited was that the Chinese company has a Communist party branch.
On Friday, Communist party officials set out to cure the congressmen from their misguided fears. Party cells in a private company are a force for good, according to Wang Jingqing, deputy head of the organisation department, something like the party’s human resources office. Continue reading »
US election view [1]: China – a discredited “game of money”
As America votes, Chinese official media and the country’s netizens have offered a wide range of views on events across the Pacific, but one aspect keeps cropping up – the money. Continue reading »
Renminbi faces US election test
How important has the US presidential election been to the recent record-breaking run of the Chinese renminbi?
Beijing officials have repeatedly denied that they have been steering the currency to reduce economic tensions with Washington. But the charts seem to suggest otherwise. With Americans going to the polls on Tuesday, the truth will soon be out. Continue reading »
US industrials take spill in solar flare-up
By Ed Crooks
Earlier this year the US decided to impose two sets of duties on imports of Chinese solar cells; a move that it confirmed, with some adjustments, earlier this month. Now it is becoming increasingly clear – as this excellent piece from the FT’s Leslie Hook points out – that the Chinese solar industry is in deep trouble: a “patient on life support”, as one policy-maker puts it.
So US industrials should be rejoicing, right? Well, no. Not if you are DuPont, Dow Chemical and 3M. This week all three US chemical companies said their earnings have been hit by the downturn in the solar industry, especially in China. Continue reading »
Guest post: solar energy trade wars – enough is enough
By Zhengrong Shi of Suntech
While nations united to celebrate the Olympics and Paralympics in London, the world’s superpowers are competing for a dubious crown – how to outdo each other in economic nationalism in solar energy. Continue reading »
Short selling: China tech fights back
Just a year ago, nobody was surprised when a US-listed Chinese company was being accused of fraud and lies. One after another, firms that had gone public through reverse mergers were accused by short-selling firms like Citron Research or Muddy Waters to have cooked the books or misled investors.
But now Andrew Left (pictured), the man behind Citron, is under fire himself. Some of the people often counted among the best and brightest in China’s technology industry are ganging up against him, warning of “fraudulent analysts” and urging investors not to listen to him. Continue reading »
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