US President Biden is trying to beat China, just like his predecessor Trump with a strong focus on technology. But Shanghai-based business analyst Shaun Rein does not see how the US can overtake China in innovation, he tells at state-owned Global Times. And more about the tense relationship between both economic powers.
H&M got hit by an unprecedented boycott from Chinese consumers, as the China internet went after the company for its stance on labor in Xinjiang. Partly that vehement outpour of anger was caused because internet companies have been under government investigations, says veteran business analyst Shaun Rein, so they had to prove more than ever they were not a danger for that government, he says at AP.
Typically, China’s economy comes to a standstill during the annual Chinese New Year, but not in 2021, explains business analyst Shaun Rein to CNBCTV. GovermentalCovid-19 restrictions make it tough for migrant workers to return home, and double salaries at the factories might encourage them to continue working during the festival. Other industries like travel and leisure might suffer, though.
The fur trade focuses on China, as consumers in the rest of the world shun their products, convinced by the animal-rights movement. But China’s consumers are likely to follow, says Shanghai-based business analyst Shaun Rein, and they are likely to heed the anti-fur trend, he tells Vogue Business.
Western media have been speculating about the whereabouts of Alibaba’s founder Jack Ma after he disappeared from the limelight months ago. Ma did get a dressing down from the government after he ushered criticism, says Shanghai-based business analyst Shaun Rein to AP. Ma is laying down, but there is no reason he is in real problems, Rein adds.
The massive US$34.5 billion IPO by Jack Ma’s Ant Group has been derailed by regulatory action, days before its listing, and that does not make the investors happy, says political analyst Shaun Rein at AP. The decision also might rattle Chinese entrepreneurs who were considering selling shares on their own country’s market, said Rein.
Only half a decade ago Silicon Valley thought China becoming a force of innovation was preposterous. Now, under Trump, China has proved them wrong, says business analyst Shaun Rein in a wide-ranging interview with state paper Global Times. Also: China’s successful fight against Covid-19 and decoupling economies.
More than three million Chinese students went to the US for their study, but with the rising sinophobia both the US and Australia are losing out huge advantages of those eager learners, says business analyst Shaun Rein to state-broadcaster CGTN. Even losing only tuition fees might cost them dearly, he adds.