HK cements role as mediation capital with IOMed launch
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
23 minutes ago
- South China Morning Post
Chinese companies must turn involution into sustainable evolution
Beijing is trying to curb cutthroat price wars that have broken out in multiple sectors. Caused by overcapacity and insufficient demand, many companies have been locked into an unsustainable spiral of price-cutting that not only forgoes profits but imperils their very business survival. Ultimately, job losses will be a lose-lose for all sides concerned. Advertisement Whether in food delivery, e-commerce or advanced manufacturing for batteries, solar panels and electric vehicles, excessive competition has created a vicious cycle that Beijing fears is contributing to price deflation. Such deflation is sticky and difficult to reverse once established. Factory gate prices fell for the 33rd month in June, hindering official efforts to boost domestic consumption. The term neijuan, or involution, has gained currency to describe excessive competition . There is emerging consensus among officials and businesses on the need to turn neijuan into sustainable evolution to boost consumption. Online food delivery platforms Meituan and are among the latest to be hauled before regulators and urged to engage in 'rational' competition. All three have been locked in a price war since February. Meituan's core local commerce business director, Wang Puzhong, even admitted that the price war made no sense but that his company was forced to join to avoid looking like 'the loser'. Meanwhile, Industry and Information Technology Minister Li Lecheng warned solar panel makers that excessive competition and oversupply were hurting their industry. It is hardly the only one. Key sectors such as electrical machinery, steel, cement, ceramics and glass have all experienced price declines. Interestingly, the price of polysilicon, a key component of photovoltaic solar panels, rose significantly not long after Li met industry representatives. Advertisement
South China Morning Post
an hour ago
- South China Morning Post
Could China's Tibet mega dam help boost its sway with South Asian neighbours?
Advertisement According to some estimates, the dam on the Yarlung Tsangpo will be the world's biggest, producing up to 300 billion kilowatt-hours of electricity each year, three times the output of the Three Gorges Dam. State news agency Xinhua said over the weekend that its output would 'primarily deliver electricity for external consumption' but would also meet local demand in Tibet. But the project has drawn concerns about the impact on water supply and ecological risks downstream in India and Bangladesh, where the river is known as the Brahmaputra, although Beijing has said it was not seeking to benefit at the 'expense of its neighbours' India is also worried about Beijing's efforts to strengthen its influence in South Asia, and Chinese observers said the project could help increase its sway over countries such as Nepal, Bhutan, Myanmar and Bangladesh, which have long struggled with power shortages. Advertisement The project 'will undoubtedly become a major power hub for surrounding countries and related neighbouring regions', according to Zhu Feng, dean of the school of international studies at Nanjing University.
South China Morning Post
an hour ago
- South China Morning Post
Which countries will pick sides in a US-China conflict over Taiwan?
There has been much speculation as to which third parties might get involved if war broke out between China and the United States in the Taiwan Strait. In June, The Economist published an article on this very question. More recently, the Financial Times reported that the US had been putting pressure on Japan and Australia to clarify what role they would play in such a situation. Advertisement It appears that there would be few countries on China's side. China's only treaty ally is North Korea. A 1961 treaty obliges the two sides to take 'all necessary measures' to oppose any country or coalition of countries that attack either nation unprovoked. Although North Korea sending soldiers to fight for Russia in Ukraine could raise the same prospect one day, and Beijing certainly matters much more than Moscow to the survival of a country under extensive international sanctions, currently China's ties with North Korea appear less warm than those between Russia and North Korea Pakistan has been described as an 'iron brother' of China. Given its almost unsalvageable relationship with India, Pakistan might seriously consider following through if China asked it to help take on India in a worst-case scenario. However, Islamabad joining a war to assist China against the US – which is a major provider of aid to Pakistan – is highly unlikely. China's most useful strategic partner is unquestionably Russia. Their closeness is reflected in their regular air and sea exercises. But why would Russia choose to get involved in a conflict in the Taiwan Strait if China has not provided Russia with military assistance in the Ukraine war? Presumably Russia would continue to sell China oil and gas , just like China is still selling Russia non-military items, but that's probably all. On the American side, not more than a handful of countries would provide military assistance to the US in a conflict with China, and each would do so half-heartedly at best. The Economist article seems to share this view as it quotes a recent paper from the Centre for a New American Security (CNAS), though the paper's analysis is not entirely convincing. 02:57 Shandong aircraft carrier moves into Taiwan response zone ahead of PLA drills Shandong aircraft carrier moves into Taiwan response zone ahead of PLA drills Its first conclusion is obvious: if the US stays out of the war, its allies will, too. The second is that if the US does step in, its most affected allies would be Japan and the Philippines. Japan's participation would be unlikely to go much further than submarine patrols or missile strikes. The Philippines would be more cautious, the CNAS paper said, but if Chinese forces were bogged down, it might be tempted to advance its claims in the South China Sea.
