CHINAwatch

US-China De-Risking Policy - Risks and Opportunities for Hong Kong

A Hong Kong business lunheon presentation on 11 November 2023. Download US-China De-Risking Policy - Risks and Opportunities for HK

New World, New Order How to reposition ourselves for a New Economy

Download New World New Order - How to reposition for a New Economy (A business dinner presentation) 

Some fresh perspectives on China's housing bubble and related debt

On 12 September 2023, at a debate under the aegis of The New Economist, a Chinese think-tank, Nomura Securities China Economist Tin Liu explained how China's mountain of housing-related debt should be looked at. 陆挺：关于当前经济和债务的看法及建议

Amongst others, Mr Liu made the following points -

(a) Debt is not byself a bad thing. Indeed, debt is a necessary conduit to transfer idle or excess savings into growth-ehancing productive actvities and investments. 

(b) Unlike Japan's over-indebted "lost decades", China's current debt bubble, though gigantic, has little impact on China's produtive manufacturing sector. While Japan's development reached its peak consistent with its limited land size and population, China's growth potential has still a long way to go.

(c) To tackle the current debt and property bubble crisis, the first prioriy is stabilization (which ia already underway). To diffuse the crisis and in the interest of long-term development, future debt should be tied to population mobility, from congested cities to more dynamic second or third-tier cities and prefectures forming closely-knit economic clusters or areas. (See China’s Five City Clusters bring diversified real estate investment opportunities)

(In 2015 China’s 11 largest city clusters accounted for one-third of the country’s population and two-thirds of its economic activity, according to the Asian Development Bank. Meanwhile, The Economist reports that the 19 city clusters account for nine-tenths of the country’s economic activity.)

 

China's Role in a Multipolar World

PowerPoint presentation at the 10th Annual Conference on International Studies, Center for Strategic Research and Analysis, Lisbon, Portugal 14-15 September 2023. (CESRAN 2023) (An online presentation) 

Download China's Role in a Multipolar World - CESRAN 2023 (New) [Autosaved]                                                                                      

How China shifted gears on electric vehicles - and why it matters

My China Daily Op-ed  of 21 August flagged up China's rising global electric vehicles (EV) dominance, amongst other things, to illustrate China's resilience. The above -titled well-researched piece dated 14 August in The National Interest delves into the subject in depth. 

China's defeated youth

A product of China's now-defunct "One Child Policy", a sizeable proportion of the nation's millennials have had their nests well-feathered during China's "golden era" of sustained prosperity, which saw the nation leapfrogging to become the world's second largest economy. Theirs are the so-called "4-2-1" generation: much-better times saw them grow up as a single child each pampered by two working parents and their respective grannies. 

Sure they have had their years of hard grind as they faced unrelenting competition for admission to university, not to mention a prestigious one. But once they graduated, they were generally assured of a more secured future. 

No longer. A host of deep-seated domestic and global challenges are catching up on China in a "perfect storm" of changes, and opportunities, "not seen in a hundred years", as flagged up by President Xi from time to time. 

As China is trying to cope with a much more hostile external environment and systemic domestic economic challenges, job opportunities for graduates have dwindled, compounded by a record-high supply of 12 million new graduates a year. This comes at a time when the Fourth Industrialization is re-shaping how lives and work are organized and distributed, resulting in disappearance and sea-change of many job requirements. The prohibitively-high cost of raising a family including housing and education adds to a sense of frustration and despair. 

Their hopelessness and negative feelings, however, are not commonly shared by their parents', let alone grandparents' generations, who had weathered much worse times, often with untold personal sacrifices. 

All this is well captured by The Economist (17 August 2023) expose China's defeated youth.

It will take time, perhaps a decade or so, for China's young generation to adjust to these new realities. 

In any case, against all odds, China's trajectory appears to be on track to unfold a new era of renaissance, where the current "defeated" youth will have to rise to unprecedented challenges and opportunities. Click here.

 

The Great Tech Rivalry - China v the US: How China will surpass USA in key 21st Century technologies by 2030

Drawing from the Harvard Kennedy School Belfer Centre December 2021 Report - The Great Tech Rivalry: China vs the US, a YouTube podcast dated 18 March  2023 summarizes the state of play in 21st Century technologies comprising Artificial Intelligence (AI), 5G & 6G, Quantum Information Science, Semiconductors, Bitoechnoloy, and Green Energy, indicating that China is likely to surpass the US by 2030 in key domains in these fields. 

The full Belfer Centre Report may be accessed here.

"China has made considerable progress under Xi Jinping’s leadership"

Live interview with Press TV on 10 March 2023

RTHK (Radio Television Hong Kong) on economics of the Two Sessions in Beijing

BackChat on RTHK on 6 March 2023 (My intervention start from time counter 15:50 and 28:33 in the first bar.)

"After coming to live in China, I have loved it here" - American digital entrepreneur Cyrus Janssen

A YouTube video clip of Cyrus Janssen's TED Talk in January 2023 illustrates why the world needs the ancient Chines adage 和而不同 "Harmony despite Differences" flagged up as a third bullet point in my China Daily op-ed of 10 February 2023.