China is moving fast on setting up legislation on the development of autonomous driving cars in China, in tandem with the fast technological and commercial developments, writes China-lawyer Mark Schaub in the China Law Insight. These detailed regulations will have a significant and positive impact on the industry, he adds.
The major economies in the G-7 need more investments in R&D and collaboration in science and technology to compete with China, says former US assistant trade representative Harry Broadman at CNBC. “We’ve done really well among democratic countries collaborating on investment and trade, but we’ve done an extraordinarily poor job in R&D,” he said.
China’s automotive industry has traditionally taken a backseat compared to global competitors, but is planning a major overtake when it comes to pushing startups on self-driving, says China lawyer Mark Schaub in the Asia Nikkei. “In China, if you always wait till the law comes into effect, you are six months to a year behind what the regulators are saying,” Schaub said.
Douyin – the Chinese name of Tiktok – became a runaway success as a short-video platform in China. Tech watcher Matthew Brennan looks in his book ‘Attention Factory: The Story of TikTok and China’s ByteDance’ at the playbook Bytedance used for their lift-off before they took the platform global. An excerpt from Techcrunch.
Most Chinese tech companies tried to figure out what US consumers wanted before they entered the market, but Bytedance did not care when it launched Tiktok in 2018, says internet veteran Matthew Brennan in his book “Attention Factory: The Story of Tiktok and China’s Bytedance.” The lack of strategy almost backfired, but after some hiccups, the company became a runaway success, Brennan writes in an excerpt in Technode.
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.
China’s upcoming digital currency is the last example of how the country is economically going to outrun the US and the rest of the world, says Singapore-based superinvestor Jim Rogers. Of course, the country has collapsed a few times too, but unlike other cultures, it is able to rise again, he says.