From VOA Mandarin: Chinese companies expand businesses overseas amid economic downturn
In 2024, about 53 Chinese companies went public in the U.S. and raised $1.84 billion amid a slowdown in the A-share IPO market. Many of these companies are high-tech firms. Besides tech firms, consumer brands are aiming at overseas clientele as well. Analysts tell VOA Mandarin that Chinese companies are putting their hope in markets outside China to survive, and they are adopting smarter strategies to succeed.
Click here for the full story in Mandarin.
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Voice of America
15-03-2025
- Voice of America
Russian foreign minister exaggerates Russia-China relations, ignores nuances
On March 12, Russian Foreign Minister Sergey Lavrov spoke with American bloggers Mario Nawfal, Larry C. Johnson and Andrew Napolitano in Moscow. When asked whether the U.S. administration's efforts to normalize relations with Moscow are just to use Russia "cynically against the Chinese," Lavrov rejected such possibility. He described Russia-China relations as long-term, stronger and more confidential, based in deep trust and mutual understanding, and he emphasized widespread public support in both countries. That is misleading. The claim overlooks the underlying complexities and skepticism in the Russia-China relationship. Underlying tensions: Despite the appearance of a strong partnership, ongoing tensions underlie the relationship. This includes skepticism on both sides, especially about economic stability, military strength and the extent of mutual trust. Economic imbalance: China has become a dominant economic partner for Russia, but many Russians are concerned about China's increasing influence and the lack of substantial Chinese investment in Russia. Military relations: Unlike the strong military alignment seen in the Sino-Soviet alliance of 1950, today's cooperation is not as deeply integrated, particularly in military terms. China has not provided direct military aid to Russia in the Ukraine conflict, which would have been expected in a deeply allied relationship. Public sentiment: There is skepticism about the partnership in both Russia and China. Russian citizens are not entirely supportive of Chinese products or investments, and many Chinese question the long-term economic and military viability of Russia. Historical context Sino-Soviet Alliance (1950s): This period marked a high point of cooperation, with the Soviet Union providing substantial economic, technological and military support to China. Yet, the alliance ended with the Sino-Soviet split by the late 1950s. This contradicts Lavrov's characterization that current relations are unprecedented in their depth. Strategic Partnership (1996-2014): The strategic partnership strengthened after the Cold War, especially under Vladimir Putin and Jiang Zemin. However, China still balanced its relations with the West, highlighting that the partnership was pragmatic, not based purely on mutual trust. Anti-Western Alignment (2014-2025): The relations have become closer since Russia's annexation of Crimea in 2014 and the Ukraine invasion. China has been providing crucial economic support. Beijing, however, avoids direct military aid to evade Western sanctions and maintains neutrality. This signals that the cooperation is based on shared opposition to the West, not genuine trust or an alliance akin to that of the 1950s. Current economic dependence Moscow is now heavily dependent on Beijing: China has become Russia's largest trading partner, and Russia plays a key role in supplying China with oil and gas. The economic relationship has its imbalances, however. China's total investments in Russia remain relatively low compared with its global investments. China still prioritizes its global economic ties, while Russia has become increasingly dependent on Beijing. Vedomosti, Russia's leading business daily, reported that China rarely invests directly in Russia, noting that while Russia seeks high-tech investments, China prioritizes mining, real estate, and banking. Since 2023, China has been Russia's largest trading partner, whereas Russia ranks only sixth among China's top trade partners. Skepticism in both countries Russians question Chinese investment and the long-term benefits, while many Chinese doubt Russia's economic resilience and military strength. In February 2025, FilterLabs released the results of research that used its Talisman data tool to analyze Chinese and Russian news and social media. Talisman's analysis reveals deep skepticism about Russia among Chinese social media users, many of whom question whether Russia's economy is truly as resilient as Moscow claims, whether its military strength matches its rhetoric, and what its long-term intentions are. These doubts suggest that despite official narratives of strong ties, public confidence in Russia within China is far from unanimous. The research also shows that online sentiments in Russia toward economic cooperation with China are more negative than official narratives suggest. International sanctions have pushed many Western products out of Russia, allowing Chinese goods to fill the gap in sectors such as automobiles and technology. While their market share grows due to affordability and geopolitical shifts, many Russians remain skeptical and dissatisfied with Chinese products, FilterLabs reported. In both countries, social media discussions are consistently less positive than mainstream press coverage, which itself was not uniformly supportive, revealing underlying skepticism about the partnership. "Their partnership is vulnerable," FilterLabs founder Jonathan Teubner told VOA. Conclusion While Lavrov's statement reflects an official narrative of a strong and enduring partnership, the truth is more nuanced. Relations are indeed closer than at any point since the 1950s, but they are shaped more by pragmatism, economic necessity and shared opposition to Western influence than by deep trust or historical affinity. In both countries, public opinion reveals skepticism, and the economic and military cooperation, while growing, is not without concerns.
Voice of America
13-03-2025
- Voice of America
Can the US pry Russia away from China?
Western politicians have repeatedly called on China to limit or cease tacit support for Russia's bloody war against Ukraine. In response, China's leadership insists it is committed to peace and respect for the territorial integrity of other nations. But unlike most United Nations member states, China has never condemned Russia's full-scale invasion of Ukraine, and their military-diplomatic partnership — from joint bomber flights near the U.S. state of Alaska to votes in the U.N. Security Council — has only helped the Kremlin overcome its international isolation. While President Donald Trump has said he has good personal relations with both Russian President Vladimir Putin and Chinese President Xi Jinping, there is a consensus among experts in Washington that the China-Russia partnership poses a threat to U.S. interests, and that while Trump's predecessor, Joe Biden, tried to establish a strategic dialogue with China, the Trump team appears to be prioritizing normalized ties with Russia while punishing China over trade. As the White House talks about the possibility of restoring economic cooperation with Russia, some of its officials are hinting at lifting or reducing the sanctions Washington has imposed on Moscow in recent years. Charles Hecker, an expert on Western-Russian economic ties and risks, and author of the book Zero Sum: The Arc of International Business in Russia, says some Western companies will quickly return to Russia if sanctions are lifted, particularly those involved in energy, metals and minerals. 'There's only so much oil in Norway, and there's only so much oil in Canada; the rest of it is in some countries that have a very high-risk environment,' Hecker told VOA's Russian Service. 'And so, these kinds of companies are accustomed to business in these sorts of places, and they have the internal structures to help protect them. You know, there are energy companies doing business in Iraq right now. And I don't want to compare Russia and Iraq, but they are high-risk environments.' Still, Hecker cautions, their return to doing business in Russia wouldn't signal an overall U.S.-Russian rapprochement — let alone a fracturing of Sino-Russian relations. 'I think it will be very difficult for the West to pull Russia away from China,' he said. 'Allowing Western companies back into Russia doesn't necessarily change President Putin's hostility towards the West. President Putin remains antagonistic towards a Western-dominated political and economic system, and he has said over and over again that he wants to create an alternative political and economic environment – an alternative to the West. 'Part of that alternative includes China,' he added. 'You have never heard President Putin say anything ideologically against China. And the two are now important energy partners.' Limited popular domestic appeal U.S.-based FilterLabs analyzes public sentiment in regions where polling is problematic. According to a recently published assessment of popular attitudes expressed on Russian and Chinese social media networks, Sino-Russian relations are 'full of underlying tensions, mistrust, and diverging interests.' One of the report's authors, Vasily Gatov, told VOA its research found that 'the Chinese and Russian populations are far from happy with this alliance of their authorities.' "China does not perceive Russia as a reliable, safe and equal partner,' he said. 'Russia annexed the Amur Region from China; Russia adopted a completely colonial policy towards China during the 19th and early 20th centuries. Therefore, in my opinion, it is entirely possible to consider historical frictions as a vulnerability.' A media analyst at the University of Southern California's Annenberg School for Communication and Journalism, Gatov also noted that, despite the Kremlin's expectations, China's economic presence inside Russia today remains 'several times smaller' than that of either Europe or the U.S. before Russia invaded Ukraine. Thus, while Russian and China have overlapping interests, they are not 'marching in lockstep.' "They are very different, they have very different geopolitical focuses, very different political philosophies,' he said. Other experts, however, question the Filterlabs findings, warning that random Russian and Chinese opinions online are of limited value, especially as those casting the insights aren't likely to influence policy. "People who have the time and desire to comment on things on social media do not have much influence on how state policy is conducted,' Alexander Gabuev, director of the Berlin-based Carnegie Russia Eurasia Center, told VOA. 'And these people certainly do not have much influence on whether China transfers components for Russia's weapons or takes certain military technologies from it, since the people who comment on this simply do not have real knowledge of what is actually happening.' Gabuev added that 'the Chinese leadership has reasons to think that they have something to take from Russia in terms of military technology,' suggesting that China is extremely interested in gaining Russian experience in countering Western weapons during Russia's war in Ukraine. Does Trump see China as a threat? One critical question about whether Washington's improved ties with Russia will loosen the Sino-Russian pact, say some analysts, is how Trump perceives China. Ali Wyne, senior research and advocacy advisor on the U.S. and China at the International Crisis Group, describes Trump as an anomaly for U.S. policy. 'Widespread bipartisan agreement in Congress and from one administration to the next [is] that China is American's foremost strategic competitor,' he said. But 'President Trump, in many ways, is the most prominent dissenter from this alleged China consensus.' 'He doesn't view President Xi [Jinping] in adversarial terms,' Wyne said. 'He actually calls President Xi a 'dear friend' of his. And he believes that his personal rapport with President Xi will be the decisive dynamic in setting — or resetting — the U.S.-China relationship over the next four years.'
Voice of America
13-03-2025
- Voice of America
Meta tests 'Community Notes' to replace fact-checkers
Social media giant Meta on Thursday announced it would begin testing its new "Community Notes" feature across its platforms on March 18, as it shifts away from third-party fact-checking toward a crowd-sourced approach to content moderation. Meta's chief executive Mark Zuckerberg announced the new system in January as he appeared to align himself with the incoming Trump administration, including naming a Republican as the company's head of public policy. The change of system came after years of criticism from supporters of U.S. President Donald Trump, among others, that conservative voices were being censored or stifled under the guise of fighting misinformation, a claim professional fact-checkers vehemently reject. Meta has also scaled back its diversity initiatives and relaxed content moderation rules on Facebook and Instagram, particularly regarding certain forms of hostile speech. The initiative, similar to the system already implemented by X (formerly Twitter), will allow users of Facebook, Instagram and Threads to write and rate contextual notes on various content. Meta said approximately 200,000 potential contributors in the United States have already signed up across the three platforms. The new approach requires contributors to be over 18 with accounts more than six months old that are in good standing. During the testing period, notes will not immediately appear on content and the company will gradually admit people from the waitlist and thoroughly test the system before public implementation. Meta emphasized that the notes will only be published when contributors with differing viewpoints agree on their helpfulness. "This isn't majority rules," the company said. Moreover, unlike fact-checked posts that often had reduced distribution, flagged content with Community Notes will not face distribution penalties. Notes will be limited to 500 characters, must include supporting links and will initially support six languages commonly used in the United States: English, Spanish, Chinese, Vietnamese, French and Portuguese. "Our intention is ultimately to roll out this new approach to our users all over the world, but we won't be doing that immediately," the company said. "Until Community Notes are launched in other countries, the third party fact checking program will remain in place for them," it added. Meta said that it would not be "reinventing the wheel" and will use X's open-source algorithm as the basis of its system. U.N. Secretary-General Antonio Guterres last month warned that the rollbacks to fact-checking and moderation safeguards were "reopening the floodgates" of hate and violence online.
