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 »
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.
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 »
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.
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 »
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 »
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.
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 »
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 »
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 »
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 »
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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