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Trump or Biden? China expects no favours either way
The Democratic and Republican National Conventions are typically an opportunity for US voters to get a sense of what their next president's domestic policies might look like.
Aug. 28 - But this year they also provided a key insight for China Inc as it navigates its rocky relationship with the US.
Several insiders at Chinese technology firms say have told me that a Joe Biden presidency would be more appealing than another four more years of President Trump - which would be seen as "unpredictable".
And while they think a Biden administration would still be tough on China, it would be based more on reason, and fact rather than rhetoric and politicking.
One thing is clear though: companies on the mainland believe that whoever is in the White House the tough stance on China is here to stay.
Here are three things that are worrying Chinese companies the most about the next US administration - and what they're doing to protect themselves:
DecouplingThis word gets used a lot these days. President Trump and his administration talk about it in tweets and in press statements in relation to China.
Decoupling basically means undoing more than three decades' worth of US business relations with China.
Everything is on the cards: from getting American factories to pull their supply chains out of the mainland, to forcing Chinese-owned companies that operate in the US - like TikTok and Tencent - to swap their Chinese owners for American ones.
Make no mistake, under a Trump administration "decoupling will be accelerated", according to Solomon Yue, vice chairman and chief executive of the Republicans Overseas lobby group.
"The reason is because there's a genuine national security concern about our technology being stolen," he said.
But decoupling isn't that simple.
While the US has had some success... more
The Democratic and Republican National Conventions are typically an opportunity for US voters to get a sense of what their next president's domestic policies might look like.
Aug. 28 - But this year they also provided a key insight for China Inc as it navigates its rocky relationship with the US.
Several insiders at Chinese technology firms say have told me that a Joe Biden presidency would be more appealing than another four more years of President Trump - which would be seen as "unpredictable".
And while they think a Biden administration would still be tough on China, it would be based more on reason, and fact rather than rhetoric and politicking.
One thing is clear though: companies on the mainland believe that whoever is in the White House the tough stance on China is here to stay.
Here are three things that are worrying Chinese companies the most about the next US administration - and what they're doing to protect themselves:
DecouplingThis word gets used a lot these days. President Trump and his administration talk about it in tweets and in press statements in relation to China.
Decoupling basically means undoing more than three decades' worth of US business relations with China.
Everything is on the cards: from getting American factories to pull their supply chains out of the mainland, to forcing Chinese-owned companies that operate in the US - like TikTok and Tencent - to swap their Chinese owners for American ones.
- What is the attraction of TikTok?
- Why US-China relations have reached a low
- China's mighty Ant heads for a mega market debut
Make no mistake, under a Trump administration "decoupling will be accelerated", according to Solomon Yue, vice chairman and chief executive of the Republicans Overseas lobby group.
"The reason is because there's a genuine national security concern about our technology being stolen," he said.
But decoupling isn't that simple.
While the US has had some success... more
August 31, 2020
Mike Pompeo: 'Single greatest threat to the US comes from Chinese Communist Party'
'We have imposed cost on China in a way that has protected the American people from this threat,' US Sec. of State Pompeo says.
'We have imposed cost on China in a way that has protected the American people from this threat,' US Sec. of State Pompeo says.
Mike Pompeo: 'Single greatest threat to the US comes from Chinese Communist Party'
'We have imposed cost on China in a way that has protected the American people from this threat,' US Sec. of State Pompeo says.
'We have imposed cost on China in a way that has protected the American people from this threat,' US Sec. of State Pompeo says.
SUNDAY
August 30, 2020
August 30, 2020
China continues military drills in South China Sea region amid rising tension with US
Aug. 30, BEIJING - The Chinese army has launched two sets of military drills in waters off the country's east coast as tensions continue to rise in the South China Sea amid US military presence in the region.
Shanghai-based military expert Ni Lexiong was quoted as saying by South China Morning Post that the drills in the Bohai and Yellow seas had the practical purpose of simulating both wartime attack and defence, should there be a conflict to unify Taiwan by force.
"Different scenarios, with a strong enemy or a weak enemy, need to be practised in drills," Ni said.
Terming the recent drills as "routine training", Diao Daming, an associate professor at Renmin University's National Academy of Development and Strategy, told state broadcaster China Central Television that "the exercises were meant to boost public confidence and intimidate the US and Taiwan." source
Aug. 30, BEIJING - The Chinese army has launched two sets of military drills in waters off the country's east coast as tensions continue to rise in the South China Sea amid US military presence in the region.
Shanghai-based military expert Ni Lexiong was quoted as saying by South China Morning Post that the drills in the Bohai and Yellow seas had the practical purpose of simulating both wartime attack and defence, should there be a conflict to unify Taiwan by force.
"Different scenarios, with a strong enemy or a weak enemy, need to be practised in drills," Ni said.
Terming the recent drills as "routine training", Diao Daming, an associate professor at Renmin University's National Academy of Development and Strategy, told state broadcaster China Central Television that "the exercises were meant to boost public confidence and intimidate the US and Taiwan." source
