Investors got jittery when China’s government started a coordinated action to limit the power of its tech industry. But business analyst Shaun Rein saw how powerful companies made consumers and the government weary. Rein believes stricter oversight of the technology industry will make it more sustainable, with fairer competition that will benefit consumers, he tells AP.
Starbucks sold its stake in its South-Korean joint venture, worth in total over US$2 billion. The best they can do, is reinvest their capital in expansion in China, says business analyst Shaun Rein to Reuters. “Using the sale of its South Korean operations will equip it with more cash that it can deploy to China,” Rein said.
When China’s authorities cracked down on Jack Ma’s Alibaba, it was only the start of ongoing efforts to control tech companies and manage their data streams, says Shanghai-based business analyst Shaun Rein to WRAL. “Now Chinese people are quite concerned about data privacy because Alibaba and Tencent have so much data – even more data than the government,” he adds.
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.