For a while, London was in the running to get the Tiktok international headquarters, but under the Tiktok-Oracle deal the UK’s capital seems to have lost that opportunity, says China internet watcher Matthew Brennan to CNBC. That seems another setback for the UK now the country is already suffering under the corona crisis and Brexit.
The world looked up surprised when the Tiens Group took 6,500 of its employees to Paris and the Cote-d´Azur, but for China rich-list founder Rupert Hoogewerf says in IBT that this move fits into a tradition. More surprising is that an international company like Tiens has stayed so long under the Western radar.
Lower barriers to capital accounts, make it easier to trade in China´s currency, the Renminbi. Offshore trading centers expand, at the country builds up it financial leverage. Financial analyst Sara Hsu has a look at the expanding RMB clearance banks in the Diplomat. After Hong Kong, London, Frankfurt and Seoul, Paris and Luxembourg followed.
China displayed for the first time its first unmanned combat aerial vehicle (UCAV), the Pterodactyl UAV, at the Paris Air Show last week. Defense analyst Wendell Minnick explains in Defense News how China’s new toys can change the power balance by circumventing current embargoes and other regulations.
Wall Street Journal’s wealth editor Wei Gu discusses with luxury goods veteran Francis Gouten the current slowdown in luxury good sales, and how brands should refocus. Since only a wealthy 3 percent of the Chinese buyers have a passport, Milan and Paris should focus on them, not the large masses. Without giving discounts.