The mass rallies in Hong Kong over the past months have astonished the world - and probably the people of Hong Kong themselves. On the surface, the problems that initiated the protests are political. However, there is always a deeper reality that feeds the protests and it usually has to do with social economic questions, which define people's daily lives. In the reports covering Hong Kong more and more references are made to the questions of economic opportunities of the young, the rocketing prices of housing and other existing social and economic problems
No person or country in this world can defeat the US. In the end, it can only be one of its own presidents who triumphs, and Trump may be that very president. It is US President Donald Trump who has damaged the credibility of the US system. He undermined the country's foundation, the so-called "separation of powers." Trump likes issuing orders, and he changes his mind so frequently that it has almost become a routine. As a result, few countries in the world can seriously reason with the US.
American Factory, a documentary backed by former US President Barack Obama and former first lady Michelle Obama, records the twists and turns that Chinese glass manufacturer Fuyao encountered while setting up a factory in Dayton, Ohio. In 2017, the New York Times reported on the cultural conflicts the Chinese company had encountered. Labor unions are tough opponents, and they are opponents that the Chinese government and companies cannot overlook.
The violent protests in Hong Kong are organized and led by external forces, as is evident to anyone who has seen such operations in other countries – for example, the 2014 Euromaidan as a coup d'etat attempt in Ukraine. The claim that these violent actions are "leaderless" or "spontaneous" is completely false as any view of the protesters, who are clearly well organized and trained to deal with the police, and any examination of the political facts, shows. The public leaders of the protests have strong links with both the U.S. and separatists in Taiwan.
The violence that erupted in Hong Kong in what began as a peaceful protest against an extradition bill caught the world by surprise. Rioters smashing store windows and attacking police with Molotov cocktails and other makeshift weapons is unacceptable in any law-abiding society. However, international media immediately sided with the violent protester and upbraided the police who used minimum force to quell the rioters.
Over the past more than 70 years since its independence in 1947, India has been facing the challenge of building national identity. It's widely believed that the move to revoke India-administered Jammu and Kashmir's autonomy by the government of Prime Minister Narendra Modi through constitutional amendments is a means of consolidating national identity. Many other multi-religious and multi-ethnic Asian countries, in fact, are facing the same challenge.
The US recently intensified accusation of China's 'insufficient effort' on tackling fentanyl problem also serves the political purpose of the Republican, who prioritizes dealing with drug problems in its agenda. With the looming 2020 presidential election, Trump's slandering of China over fentanyl also serves to divert domestic attention from his failure to deal with drug problems within the US. connecting fentanyl with the trade negotiations indicated that the US was trying to use it as a bargaining chip in trade negotiations with China.
On August 20, 2019, Wang Wen, Executive Dean of Chongyang Institute for Financial Studies at Renmin University of China (RDCY), opened the new column “Wang Wen on Changing World” in Global Times (English edition). Following is the list of all articles.
HSBC, which was entangled in helping US arrest Huawei's Chief Financial Officer Meng Wanzhou, is attaching importance to the growth of the Guangdong-Hong Kong-Macao Greater Bay Area that offers ample financial services opportunities, but experts warned that if the UK-based bank hopes to further expand in the Chinese market, it should not play more underhanded tricks against China.
These unprecedented waves of protests raise an important question. Why it is happening? Are the protests against the fugitive bill or the foreign intervention? Or are they about democracy or the economics? The main and fundamental reason of the crisis is an economic one. The Hong Kong Special Administrative Region (SAR) is gradually but continuously losing its competitiveness to other regions of China, especially to its neighbors. The process has significantly accelerated in last couple of years.
China has been working to innovate more in the face of the trade war, how close is China to its goal of reducing dependence on the U.S. in terms of technology? Chen Chenchen shared her insight.
Hong Kong bakery faces boycott for board member’s pro-riot posts. Chinese mainland internet users called for a boycott and mainland e-commerce platforms removed the products of Taipan Bread&Cakes, a Hong Kong-based snowy moon cake manufacturer, after the company founder's son posted pictures on social media in support of ongoing Hong Kong riots.
By suppressing China, the US wants to maintain global hegemony. But by countering the US, China aims at protecting its own sovereignty. China's purpose is more just. For Chinese people, the US dollar's exorbitant privilege is a bullying act in the finance sector. Fortunately, China's yuan is rising unhindered, and the nation has dealt a blow to the US dollar's exorbitant privilege in defending monetary sovereignty. However, this is still a difficult path and China needs to walk in a more steady fashion.
Chinese shoe brand Fuguiniao was de-listed from the Hong Kong Stock Exchange in August. The current situation in the shoe industry is related to an asset bubble in the economy. In an economy with asset bubbles, even young people's purchasing power can be boosted. After a bubble breaks, people will be able to tell what is worth their investment. But companies have to make sure they won't fall beyond market trends.
The China-US trade war, the stagnation and ups and downs of trade negotiations between the two major global powers have gained a lot of attention. The trade dispute between China and the US is after all a geopolitical and geostrategic contest. China-US relations are experiencing unprecedented and dramatic changes that have not been seen in the past 40 years since ties were established. But it is possible that China and the US can prevent from falling into the trap of the conflict between big powers, and both of the two countries should strengthen cooperation, understanding and exchanges between them to avoid entering the new cold war."
If the Big Four accounting firms cannot clarify their stance on China's territory and sovereignty to be both externally and internally correct, their businesses in the Chinese market cannot be sustained, analysts told the Global Times. In the internal system of Ernst & Young (EY), one of the Big Four accounting firms, Hong Kong, Macao and Taiwan are listed as "countries" independent of China in the geography search, according to several screenshots that an employee of EY's Hong Kong branch sent to the Global Times over the weekend.
China has announced a list of 36 nominees for its highest state honor to commemorate their devotion to China's development in key sectors, sending a strong signal to society on honoring heroes and greatly stimulating Chinese people's sense of patriotism. The list includes eight for national medals and 28 for honorary titles. They are pioneers in national defense, foreign affairs, science and technology, border protection and other fields.
The announcement by President Trump in June of 2018 about the creation of a new Space Force would eventually become a branch of the Department of Defense parallel to that of the Army, Navy, and the Air Force. The concerns about a "Star Wars" in this case may be warranted, depending on how this new Space Force will operate, and with what policy. If the policy of this new Space Force is to serve a single country's geopolitical ambition, then we may well see the world entering a new and dangerous "scramble" for the resources of the cosmos.
Online posts showing support for China have been widely suppressed on overseas social media platforms. Companies like Twitter and Facebook are applying double standards over the issue. When the Western world criticizes China, they call it "freedom of speech," but when China speaks back, it is called suppressing freedom. Freedom has become their patent. This is "autocratic liberalism," experts say.
The American tariff hikes have a limited impact on the global economy. Technological progress can be slowed down as a result of American restrictions, but it cannot be stopped no matter how hard the current US president tries. The world has changed and the era of a seeming unipolarity with the US at the top is irreversibly over. The real question is what kind of multipolar world will emerge in the 21st Century. Its contours can be detected already and it will be, to a large extent, defined by China.