China news roundup / Nachrichten 2024-03-15
What happened when the world’s most populous nation turned off TikTok
"It is possible to survive and thrive in a TikTok-less world."
--- You don't say!
"US lawmakers also fear that the app could serve as a tool for Beijing to spread propaganda, misinformation or influence Americans. The removal of TikTok hasn’t insulated Indians from those threats.
“In terms of content and disinformation environment, it is plain to see we still have to grapple with serious issues like deepfakes, etc, with or without TikTok,” Sharan said. “So overall, it is hard to see which part of the risk-landscape changes significantly, assuming TikTok was certifiably problematic.”"
--- 'There are still murders, despite us making murder illegal. It is hard to see which part of the risk-landscape changes significantly, assuming murder was certifiably problematic.'
China stiffens regulation after recent stock market collapse
"“We will strictly prohibit companies from blindly listing to make money, overfinance, fabricate financial reports or report false or fudge information. Such behaviors will be seriously and legally dealt with,” he said.
According to Yan Bojin, head of the CSRC’s public offering supervision, the increased regulations were a response to the findings that listing candidates have unsound internal control mechanisms, irregular corporate governance, and financial fraud in some companies."
--- Huh? So, until now it was legal to "fabricate financial reports or report false or fudge information"?
Chinese Premier Li to skip meeting with global CEOs at key business summit
"A key element of the forum each year has been a meeting between the Chinese premier and the visiting CEOs for them to exchange questions and views. While Li still plans to attend the March 24-25 forum this year, he will not be holding that meeting
[...] "From a global CEO perspective, this development may be somewhat disappointing. During a time of significant uncertainty, company leaders would definitely prefer a direct channel to China's top leaders to voice concerns and receive clear messages,""
--- Well, if you still haven't received the message, which seems to be quite clear, there is not much hope for you.
US private funds struggle to cash out from China
""The fact that there’s something that you cannot exit from would of course be a source of concern,” said an executive at a second public pension plan with more than a dozen Chinese private equity investments, adding that “any unexpected lengthening” of investment lifecycle would affect his fund’s future deployment.
Yet most industry insiders could barely find a better solution than extending the PE duration in the hope the IPO window will reopen."
--- Hope dies last.
China Urges EV Makers to Buy Local Chips as US Clash Deepens
"The Chinese government has quietly asked electric-vehicle makers from BYD Co. to Geely Automobile Holdings Ltd. to sharply increase their purchases from local auto chipmakers, part of a campaign to reduce reliance on Western imports and boost China’s domestic semiconductor industry."
--- Who's decoupling? Chinese free markets at work again.
Gangsters, Money and Murder: How Chinese Organized Crime Is Dominating America’s Illegal Marijuana Market
"The mobsters operate in a loose but disciplined confederation overseen from New York by mafias rooted in southern China, according to state and federal officials. Known as “triads” because of an emblem used long ago by secret societies, these criminal groups wield power at home and throughout the diaspora and allegedly maintain an alliance with the Chinese state.
[...] In exchange for government protection, Chinese mobsters deliver services such as illegally moving money overseas for the Communist Party elite and helping to spy on and intimidate Chinese immigrant communities, according to Western national security officials, case files, Chinese dissidents and human rights groups."
--- Allegedly... Well, the connections are actually quite well-known. The triads are essentially another branch of the CCP.
Why Can’t China Attract Students From Developed Countries Anymore?
Hanoi asks Beijing to abide by law while drawing baseline in Gulf of Tonkin
--- China Uncensored features the usual weekend news variety:
--- DW News: "How Xi Jinping’s authoritarianism is killing China’s economy"
--- CNA: "US or China: Who Will Win The AI and Green Tech Race?"
EU-Kommission untersucht AliExpress wegen möglicher Verkäufe illegaler Waren
...Umm... because travelling to one of the world's most backward countries and living for four years in constant fear of abduction and indefinite detention on imaginary charges in pursuit of a meaningless degree while being fed a diet of propaganda in the classroom, doesn't really appeal to the developed world.
Nah, it is obviously just evil Western propaganda that keeps people from experiencing the wonders of emperor Xi's heaven on Earth.