News that caught our eye / The week ending January 5, 2024
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NOTE: The news reports below are not in chronological order. There is often a time lag in their reaching the US and in gaining our attention. These reports reflect the opinions of a variety of news sources.
China Appoints Former Navy Commander as New Defense Minister / December 29, 2023
Dong Jun, a former commander in the Chinese Navy, was appointed as China’s new Defense Minister, replacing Li Shangfu, who was removed from office last August and is under investigation for corruption. It appears now that President Xi is appointing leaders based on loyalty to him over their expertise in that field of leadership (VOA).
China Ousts Nine Military Lawmakers as Defense Purge Widens / December 29, 2023
Last Friday, China’s parliament ousted nine of its members without an explanation for their removal. President Xi began a campaign against corruption in the government in 2014. Those removed from their positions were from at least three different departments of the military (Bloomberg).
China removes official after video games rules spark turmoil / January 2, 2024
Feng Shixin, head of the publishing unit of the Communist Party's Publicity Department, was removed from his position after new regulations to curb video gaming purchases and incentives were published and provoked a significant drop in gaming stocks, like Tencent. China has been trying to curb excessive gaming through regulation (Reuters).
China's Xi hails 'resilient' economy in bullish New Year speech / December 31, 2023
In his New Year address, President Xi praised China’s economy for weathering the storm in 2023, declaring that the economy had become more resilient through its challenges. He encouraged the Chinese people to “enhance the positive trend of economic recovery” in the new year (France 24).
China's First Domestically Built Cruise Ship Begins Maiden Voyage / January 1, 2024
China’s first domestically built cruise ship, the Adora Magic City, set sail on its maiden voyage on New Year’s Day, marking a milestone in China’s bid to become self-sufficient in more complex, large-scale technological production. China’s first domestically built passenger plane was unveiled last month (VOA).
China's 2024 outlook will be shaped by decisions beyond its borders / January 3, 2024
Elections in Taiwan and the US this year, along with foreign investors being reluctant to invest in China may have a large influence on the direction China will take in 2024. Xi and the CCP may loosen their tough anti-corruption regulations on the business sector to attract more investment, or they may double down and demand compliance (Axios).
China cracks down on negativity over economy in bid to boost confidence / December 29, 2023
China’s Ministry of State Security is cracking down on negative “talk” on sites like “Weibo,” warning people to not post negative dialogue on economic issues, such as the high youth unemployment rate, the struggling property sector, deflation, and capital flight. Rather, people should support “sing the bright theory of China’s economy” (The Guardian).
China’s deflation: another ‘tell’ of serious economic trouble / December 29, 2023
Consumer prices in China have dropped slightly for two months as of November 2023 as the economy struggles with three “major ills:” too much of the wrong products, insufficient demand, and a strained financial environment. A decline in exports to Europe and the US as those regions “de-couple” or “de-risk” isn’t helping (Forbes).
A restless Gen Z is reshaping the Chinese Dream / January 3, 2024
A record number of college graduates over the last few years in China are ending up disillusioned as they struggle to find jobs in their fields of study, opting instead to either “lie flat” at their parents’ home or take up sales or blue-collar jobs for the time being. Insecure about their future, they may become a powerful force for change (BBC News).
A Year of Chinese Migrants and Tensions for Chinese in US / December 30, 2023
Chinese students attending university in the US and Chinese migrants to the US have increased over the last few years, seeing the US as a better option for a successful life, although some have faced harassment, and some states have established laws preventing the purchase of property by Chinese nationals (VOA).
China & Russia test ‘hack-proof’ quantum com. link for Brics countries / December 30, 2023
China and Russia have developed a communication link using quantum physics to encrypt messages and have been able to transport two messages over 2300 miles apart using a quantum satellite called Mozi to prevent the photons from disintegrating over the long distance. The effort may eventually allow Brics countries to use quantum communication in the future (SCMP).
How will Beijing respond to Manila’s plans to build on South China Sea reef? / January 3, 2024
The Philippine government has allocated an undisclosed amount of funds to build a permanent base on the Second Thomas Shoal, replacing a grounded ship it has been using to lay claim to the area. However, depending on how Manila and Beijing manage their claims over the South China Sea, the base may not come to fruition (SCMP).
China floats plan to foster economic ties with Democrat-led cities / January 2, 2024
China is proposing to boost economic relations and ties with San Francisco and New York City, matching them with the Guangdong-Hong Kong-Macau Greater Bay Area in a type of sister-city relationship. The relationship will include cultural exchanges and economic development in both countries (Fox News).