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Boston Globe
23-05-2025
- Business
- Boston Globe
In attacks on Harvard, Chinese see yet another reason to write off the US
Elite universities like Harvard played a particularly important role in that admiration. In recent years, even student exchanges have started to suffer from the two countries' frosty ties, as many have worried about anti-Chinese discrimination, difficulty securing visas or crime. But schools like Harvard were an exception: They remained as attractive as ever to Chinese students, who were willing to overlook other concerns for the promise of a best-in-the-world education. Advertisement Now, even that beacon is in question. 'Everyone comes here with the ideal of changing the world,' said a current Chinese graduate student at Harvard, who requested anonymity for fear of endangering her visa. 'But when I'm trying to understand the world, the world shuts me out.' She said she now wants to return to China after graduation. Advertisement In a sign of how tense the relationship between the two superpowers has become, the reaction among many Chinese on social media — where the Harvard news was a top trending hashtag Friday — was mixed. There was concern and outrage. But in some quarters, there was also grim acceptance or even glee. Some commentators said Trump was accelerating China's ascent. They celebrated that American universities would lose both revenue and talent, some of which might flow to China instead. At least one university in Hong Kong has already said it is willing to offer unconditional admission to any transfer students from Harvard. Ren Yi, a high-profile blogger who goes by the pen name Chairman Rabbit and is himself a Harvard graduate, wrote that the United States government was 'castrating' its own top university. 'This is a great change unseen in a century,' he wrote, quoting China's leader, Xi Jinping, who has used the phrase to describe his confidence in China's rise. (Xi's daughter graduated from Harvard.) Asked about the decision Friday, a spokesperson for China's Foreign Ministry said it would 'only damage the image and international reputation of the United States.' Even before the move against Harvard, Chinese students in the United States had plenty of reasons to worry. American state and federal lawmakers have proposed restricting Chinese citizens' ability to study in the United States, citing national security concerns. Students have reported being turned away at the border despite having valid visas, or having their visas abruptly revoked. Advertisement China's Education Ministry last month issued a formal warning to Chinese students to consider the risks of studying in the United States — its first alert to students going abroad since 2021. The Trump administration's cuts to research funding have also weighed heavily on many Chinese scholars, some of whom say they worry about being financially able to do their work. The Harvard student who said she now plans to return to China said she had an offer for a research position rescinded because of the federal funding freeze. In China's flourishing industry of overseas study consultants, many encouraged their clients to apply to other universities, including outside of the United States, as backup. On a live broadcast with hundreds of viewers Friday, one consultant warned that other schools might soon see similar restrictions. But for some, Harvard's exceptional status — its wealth, its prestige — also gave them hope that the university, and American society more broadly, would weather the turmoil. Yu, a Harvard master's student who asked to be identified by only her given name for fear of retaliation, said that she had been heartened by how people at Harvard had pushed back against the government's attacks. In addition to the university administration, her fellow students, Chinese and otherwise, had banded together to share international travel plans with each other in case anyone ran into trouble, and to dissect the language of executive orders. She had expected that life as an international student would get harder under Trump, she said, and she had not drastically changed her view of the United States. 'I more look at the values the country holds and how people are trying to defend those values,' she said. 'It will be difficult, but there will be a fight, and we do have some hope.' Advertisement This article originally appeared in
Forbes
19-05-2025
- Business
- Forbes
US-Sino AI Rivalry Enters ‘Competitive Coexistence' After Tariff Truce
US-China agree 90 day tariff cut(Photo by Jonathan Raa/NurPhoto via Getty Images) Wall Street and Shanghai markets may have cheered the U.S.-China tariff détente, but beneath the surface optimism lies a profound strategic recalibration of the world's most consequential technological rivalry. The May 12 agreement, a 90-day suspension of escalating tariffs, has seen U.S. duties on Chinese imports plummet dramatically from an aggressive 145% down to a more moderate 30%, while China reciprocated with tariffs on American goods reduced from 125% to 10%. This temporary peace, however, signals not an end to hostilities but a new phase defined by careful maneuvering and intense strategic rivalry, aptly termed "competitive coexistence." Markets Show Resilience Amid Geopolitical Shifts Influential Chinese commentator Ren Yi, widely known as Chairman Rabbit, encapsulated Beijing's view by describing the tariff truce as a "beautiful counterattack." In a widely circulated WeChat post, Ren portrayed the agreement as a pragmatic victory against the Trump administration's "impulsive paper-tiger tactics," underscoring China's long-term strategic acumen and disciplined approach in contrast to America's more reactive stance. His narrative resonated deeply with domestic Chinese audiences, reflecting Beijing's confidence in its strategic positioning amidst ongoing geopolitical tensions. Yet, beyond political narratives, global financial markets have demonstrated notable resilience. After the initial tariff announcement on April 9 triggered widespread anxiety, markets had already begun to recalibrate expectations by the time the truce was officially announced. From April 9 to May 12, technology stocks notably benefited from investor confidence in the resilience and adaptability of major firms. Alibaba led the charge with a remarkable 25.5% rise in its share price, followed closely by Tencent with a 17.3% increase and Baidu's 13.3% gain. U.S. tech giants also shared in the relief rally: Meta's shares surged by 9.2% and Apple's by 6%, although Alphabet's stock experienced a modest decline, reflecting lingering investor concerns about its international regulatory exposure and vulnerabilities in key global markets. Share Price of US and China tech giants before and after the Tariff Truce This market adjustment represents more than mere optimism—it highlights a deeper shift in investor psychology. Geopolitical tensions are no longer seen as isolated threats but strategic inflection points demanding corporate agility and adaptability. Investors increasingly expect firms to navigate geopolitical uncertainties effectively, turning potential disruptions into opportunities for strategic recalibration. AI Dominance and the Tech Ecosystem Divide Central to this recalibration is the intense race for artificial intelligence dominance. American companies like Meta and Microsoft are vigorously expanding AI capabilities through advanced cloud services, partnerships, and product innovations. Meta's strong growth reflects increasing demand for its AI-powered ad tools and content creation services, which have significantly enhanced user targeting and engagement. Microsoft, meanwhile, continues to integrate OpenAI's cutting-edge technologies into its Azure cloud platform, seeking to set global standards in enterprise AI solutions. Chinese tech giants are equally aggressive, accelerating development of self-contained AI ecosystems in response to tightening U.S. restrictions, including export controls on advanced AI chips and critical technologies. Tencent, for instance, reported robust financial results in Q1 2025, with revenues climbing 13% year-on-year to RMB 180 billion ($25.1 billion). This growth was fueled primarily by its Value-Added Services segment, including blockbuster games such as Honour of Kings and Delta Force, as well as AI-driven marketing enhancements on platforms like Weixin Search. Despite substantial investments in AI, Tencent managed an 18% rise in operating profits to RMB 69.3 billion ($9.7 billion), underlining its capacity to balance strategic investments with profitability. Meanwhile, China's strategic pivot toward domestic technological innovation has been particularly evident in AI infrastructure development. Initiatives like Baidu's PaddlePaddle and Alibaba's ModelScope illustrate a determined push to build sovereign technological stacks capable of competing independently of foreign technologies. The broader geopolitical context, especially U.S. export controls and the rescinding of the Biden-era AI Diffusion Rule—replaced with targeted restrictions—has galvanized China's resolve to innovate autonomously. Navigating New Realities: Supply Chains, Talent, and Investment The strategic realignment also underscores broader shifts in global supply chains, with U.S. companies actively diversifying manufacturing and production away from China to hedge against future geopolitical shocks. Apple epitomizes this approach through its accelerated expansion in alternative manufacturing hubs like India and Vietnam—a strategy known as 'China+1.' However, despite these tactical shifts, China's entrenched role in global manufacturing, bolstered by its extensive supplier networks, skilled workforce, and manufacturing efficiencies, renders complete decoupling unrealistic and economically disruptive. Capital and talent flows have similarly been reshaped by geopolitical tensions. Chinese firms now face increasing obstacles when attempting to access foreign investment or public markets. Heightened scrutiny of researchers' visas and the politicization of academic collaborations have further complicated talent acquisition. Nevertheless, both China and the U.S. continue to significantly ramp up domestic investments. The U.S. CHIPS and Science Act channels substantial federal funds into semiconductor and AI research, aiming to safeguard technological leadership. China mirrors these efforts with extensive initiatives bolstering technology zones, intensifying public-private partnerships, and prioritizing STEM education nationwide. The resulting environment is one of strategic caution combined with sustained competitive aggression—a delicate equilibrium captured by the term "competitive coexistence." Companies must adeptly navigate a dual reality of collaboration and competition, reflecting a fragmented yet interconnected global technology landscape. In this new paradigm, the defining contest between the U.S. and China transcends tariff skirmishes. Instead, the battlefield extends to innovation, scalability, and influence over international technological standards. This truce thus provides not only temporary economic relief but also a moment of clarity, spotlighting the relentless drive of both superpowers toward long-term technological supremacy. The markets, now more accustomed to such dynamics, perceive geopolitical frictions as persistent realities that demand continuous strategic foresight and adaptability.
South China Morning Post
09-04-2025
- Business
- South China Morning Post
China may weaponise service trade to hit back against US tariffs: commentators
China may consider taking a series of 'big moves' to hit back against the United States as Washington raises tariffs on Chinese goods to 104 per cent, according to several influential Chinese commentators. Advertisement That will include expanding the trade dispute to include the services sector, where China runs a substantial deficit with the US, according to Ren Yi, a blogger better known by his online alias Chairman Rabbit, citing unnamed sources with inside knowledge of official discussions in Beijing. 'The trade war has been focused solely on the goods trade, which is unreasonable because, in essence, the US buys our goods and sells us services,' Ren told the Post. Ren, who has over 1 million followers on the Chinese microblogging platform Weibo, said in an article on Tuesday that Beijing still has six 'remaining big moves' that it can use to counter US trade pressure. Those measures include placing restrictions on purchases of services from US firms, 'substantially' increasing tariffs on US soybeans, banning imports of US poultry and Hollywood films, suspending cooperation on controlling the illegal drug fentanyl, and investigating US companies in China over intellectual property-related issues. Advertisement Another political commentator with over 4 million followers on Weibo, known as Niutanqin, posted a list of the same six suggested countermeasures on the same day. The account is run by a senior journalist at Xinhua, the state-run Chinese news agency. China can target America's services sector in a variety of ways, such as by restricting US firms from taking part in Chinese government procurement processes or limiting cooperation between Chinese companies and US law firms and consultancies, according to Ren.
Yahoo
08-04-2025
- Business
- Yahoo
US Film Ban Among Tariff Responses Considered by China
The global trade war sparked by Donald Trump's tariffs may hit the box office soon, as two public figures in China released a list of countermeasures reportedly being measured by the country's government that includes a possible ban on American-produced films. The list was shared simultaneously on Chinese social media websites by Ren Yi, the widely followed grandson of former Guangdong communist party chief Ren Zhongyi, and Liu Hong, senior editor at the Xinhua News Agency. Bloomberg was among the first western news outlets to report on their posts. Along with a film moratorium, other possible measures reportedly being considered include tariffs on soybeans and other U.S. agricultural products, a full ban on all U.S. poultry imports, and cutting off all support to the U.S. on fentanyl control. In the hours since the posts were made, Xinhua has not published a report off of Hong's statement. Two insiders at a pair of Hollywood studio distribution offices also say that their studios have reached out to their contacts at the China Film Board, who have told them that they haven't received any change in guidance from the government. China's theatrical industry has rapidly grown in recent years thanks to significant private and public investment in all aspects of production and exhibition. In doing so, the country has greatly reduced its box office dependence on Hollywood imports. In 2024, only three American films cracked the top 20 highest grossing films in China, with Warner Bros./Legendary's 'Godzilla x Kong: The New Empire' being the only top 10 entrant in eighth place with $132 million grossed. This past weekend, another Warner/Legendary co-production, 'A Minecraft Movie,' topped the Chinese charts with a $14 million opening, ending the two-month No.1 reign of the record setting animated film 'Ne Zha 2,' which has grossed $2.14 billion almost entirely in China and now stands among the top 5 highest grossing films of all time. Last week, Trump announced a minimum 10% tariff on all global imports with significant increases on other countries he believes are dealing unfairly with the U.S. on trade. That includes a 54% tariff on China that will begin at midnight tonight, with a threat from the president to increase that tariff to 104% if China chose to match that tariff rate against the U.S. Distribution sources tell TheWrap that because movie theaters are a key part of commercial real estate as anchor businesses that support adjacent restaurants and shops, they are skeptical that China would move forward on a Hollywood film ban that could negatively impact those theaters even if moviegoer tastes have significantly shifted towards local fare. And while most Hollywood franchises have had diminished returns in China since the pandemic, Disney/20th Century's 'Avatar: Fire and Ash' is expected to be a major moneymaker in that market. Disney, like the rest of Hollywood, only takes 25% of Chinese grosses per government regulation, but the 2022 film 'Avatar: The Way of Water' made $246 million in China, ranking fifth among all releases that year. Disney has another film with potential to overperform in China with 'Zootopia 2,' which will be released in U.S. theaters on Thanksgiving weekend. The 2016 animated film inspired a section of Shanghai Disneyland that is exclusive among Disney's collection of theme parks, showing how popular the series has been in the country. At the start of 2025, users on the Chinese movie site Douban ranked 'Zootopia 2' as their most anticipated Hollywood film of the year, followed by 'Mission: Impossible — The Final Reckoning' and 'Avatar: Fire and Ash.' Release dates for 'Zootopia 2' and 'Avatar 3' in China have not been set, but a release date for Disney's next movie, Marvel Studios' 'Thunderbolts,' has been set for April 30. Sources at Disney have confirmed that the film remains on schedule for that date. The post US Film Ban Among Tariff Responses Considered by China | Report appeared first on TheWrap.
Al-Ahram Weekly
08-04-2025
- Business
- Al-Ahram Weekly
China considers banning Hollywood films amid tariff tensions - Screens - Arts & Culture
Responding to US tariffs on Chinese goods, China is reportedly considering several retaliatory measures, including a potential ban on American film imports in the Asian country, according to reports. On Tuesday, two influential Chinese social media figures, Liu Hong, a senior editor at state-run Xinhuanet, the website of the Xinhua News Agency, and Ren Yi, grandson of former Guangdong party chief Ren Zhongyi, indicated on Chinese social media that China might target US films. Their posts come as China prepares for a tit-for-tat response to Trump's proposed 50 percent import tax on Chinese goods, set to take effect on April 9. Both Chinese figures outlined potential actions, including reducing or banning American film imports. As the future of Hollywood films in China hangs in the balance, the outcome could significantly reshape the global film industry and US-China trade relations in the coming months. The Chinese market has been crucial to the global success of American films in recent years, and a potential ban or reduction in American film imports would deal a heavy blow to studios that rely on this market for revenue. Over the past years, China has emerged as a vital market for major studio films, with blockbusters such as Avengers: Endgame, Furious 7, and Avatar: The Way of Water earning hundreds of millions of dollars at Chinese theatres. This past weekend, Warner Bros. and Legendary's A Minecraft Movie grossed $2.11 billion over 10 weeks at the Chinese box office, dethroning the local blockbuster Ne Zha 2. In 2022, China became the world's second-largest box office, behind the US, with Hollywood films consistently performing well. China's retaliation against tariffs would potentially hurt American studios while also reaffirming the Chinese government's tight control over its film industry and its strategic use of cultural imports to align with national interests. Follow us on: Facebook Instagram Whatsapp Short link:
