China Watch Thread

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caltrek
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Beijing Wants Tech Giants to Shoulder More Social Responsibilities
by Rita Liao
September 5, 2021

https://techcrunch.com/2021/09/05/china ... ibilities/

Introduction:
(TechCrunch) This week, the gaming industry again became a target of Beijing, which imposed arguably the world’s strictest limits on underage players. On the other hand, China’s tech titans are hastily answering Beijing’s call for them to take on more social responsibilities and take a break from unfettered expansion.

Gaming curfew

China dropped a bombshell on the country’s young gamers. As of September 1, users under the age of 18 are limited to only one hour of online gaming time: on Fridays, Saturdays and Sundays between 8-9 p.m.

The stringent rule adds to already tightening gaming policies for minors, as the government blames video games for causing myopia, as well as deteriorating mental and physical health. Remember China recently announced a suite of restrictions on after-school tutoring? The joke going around is that working parents will have an even harder time keeping their kids occupied.

A few aspects of the new regulation are worth unpacking. For one, the new rule was instituted by the National Press and Publication Administration (NPPA), the regulatory body that approves gaming titles in China and that in 2019 froze the approval process for nine months, which led to plunges in gaming stocks like Tencent.

It’s curious that the directive on playtime came from the NPPA, which reviews gaming content and issues publishing licenses. Like other industries in China, video games are subject to regulations by multiple authorities: NPPA; the Cyberspace Administration of China (CAC), the country’s top internet watchdog; and the Ministry of Industry and Information Technology, which oversees the country’s industrial standards and telecommunications infrastructure.
Last edited by caltrek on Sun Oct 03, 2021 4:01 pm, edited 1 time in total.
weatheriscool
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Biden calls Xi as US-China relationship grows more fraught
Source: AP

President Joe Biden spoke with China’s Xi Jinping on Thursday amid growing frustration on the American side that high-level engagement between the two leaders’ top advisers has been largely unfruitful in the early going of the Biden presidency.

Biden initiated the call with Xi, the second between the two leaders since Biden took office. It comes at a moment when there is no shortage of thorny issues between the two nations, including cybersecurity breaches originating from China, Beijing’s handling of the coronavirus pandemic and what the White House has labeled as “coercive and unfair” trade practices by the Chinese.

Biden’s aim with the 90-minute call was less focused on any of those hot-button issues and instead centered on discussing the way ahead for the U.S.-China relationship after it got off to a decidedly rocky start in his tenure.

The White House said in a statement the “two leaders had a broad, strategic discussion in which they discussed areas where our interests converge, and areas where our interests, values, and perspectives diverge.”
Read more: https://apnews.com/article/joe-biden-he ... eede133c69
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Re: China Watch Thread

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"Take it easy, nothing matters in the end."
– William Shatner
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Yuli Ban
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Re: China Watch Thread

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And remember my friend, future events such as these will affect you in the future
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Yuli Ban
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Imagine Biden gets smacked with his own 1929
And remember my friend, future events such as these will affect you in the future
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And remember my friend, future events such as these will affect you in the future
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caltrek
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Will China Let Evergrande Fail?
by Jake Perez
Updated on September 26, 2021

https://www.linkedin.com/news/story/wil ... l-5149084/

Entire Article:
(Linked In) Chinese property development giant Evergrande's massive debt crisis has led to protests, with retail investors, suppliers and homebuyers seething. It threatens to further drag down China's recovery, since its economy is "so dependent on producing real estate," per a Harvard economist. But fallout over Evergrande's potential debt default extends far beyond China and has already roiled global markets. Evergrande's electric vehicle division has admitted it's facing a "serious shortage of funds" and can't guarantee it'll meet its financial obligations unless it gets an urgent infusion of capital.

China appears to be signaling its reluctance to bail Evergrande out, asking local governments to prepare for possible economic fallout and unrest in the event it collapses, anonymous sources tell The Wall Street Journal.
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caltrek
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The article below is a full length interview, and so is a long read compared to a lot of other articles that I post. It is rather broad in its scope, so it does manage to cover a lot of ground in a concise manner.

China’s Fortune Cookie Crumbles
Ross Ashcroft interviewing Michael Hudson
September 30, 2021

https://www.counterpunch.org/2021/09/30 ... -crumbles/
(Renegade Inc. via Counterpunch) With China’s increasing wealth, Western investors want some of the action. One of those investors is a bullish gentleman called George Soros. However, the Chinese are acutely aware that with Western investment comes inequality. So as Beijing begins to rethink how to do proper economic growth, we ask, will China learn from Western mistakes?

Ross Ashcroft Michael Hudson, always great to have you back on Renegade Inc.

Michael Hudson It’s good to be back here. Thanks for having me.

Ross Michael, we join you at a time where a lot of people think the unipolar world could have maintained its supremacy. Turns out it hasn’t. Multipolar world is here to stay. You of late have been quite vocal about George Soros, no less. Mr. Soros has been casting aspersions about various things, but one of them is talking about the Chinese economy and why Black Rock, amongst others, should be allowed to invest there, because ultimately it’s going to undo American interests. Can you unpack that for us because it seems very complicated?

Michael Hudson Well, George Soros’ dream is that China would do what Yeltsin did to Russia – that it would privatise the economy, really carve it up and let US investors buy control of the most profitable heights. In that way, the foreign investors would be able to sort of get the profits of Chinese industry, Chinese labour, and it would become the darling stock market of the world, just like Russia’s stock market was the leading booming stock market of 1994-96. China would be run to benefit US investment bankers. Soros is furious that China is not following the neoliberal policy that the United States is following. It’s following a socialist policy wanting to keep its economic surplus at home to benefit its own citizens, not American financial investors. For Soros, this is a clash of civilizations. His proposed strategy is to stifle the Chinese economy by putting sanctions against it, to stop investing in it so as to force it to do to itself what Yeltsin did to Russia.
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Yuli Ban
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The internal memo from a recent internal training by the state-backed gaming association was revealed by the South China Morning Post, lays out new restrictions for approving video games in China.

According to the publication, the memo said that video games must not be viewed as “pure entertainment”, and should instead convey “a correct set of values”.

Games that feature queer relationships or “effeminate males”, the memo states, should not be approved for release in China.

“If regulators can’t tell the character’s gender immediately, the setting of the characters could be considered problematic and red flags will be raised,” it added.

Games that allow players to make moral choices between good and evil should also not be approved, according to the memo.

“Some games have blurred moral boundaries,” it said.

“Players can choose to be either good or evil… but we don’t think that games should give players this choice… and this must be altered.”

The memo comes as China increasingly regulates its gaming industry, with the government announcing in August that it would be limiting the amount of time minors can play online games to three hours per week.
And remember my friend, future events such as these will affect you in the future
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caltrek
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Police Halt 4-person National Day Protest in Hong Kong
October 1, 2021

https://www.courthousenews.com/police-h ... hong-kong/

Introduction:
HONG KONG (AP) — Police in Hong Kong halted a four-person pro-democracy protest on China’s National Day Friday amid an expanding crackdown on free speech and opposition politics.

Chanting and carrying a placard calling for the release of Hong Kongers arrested in the crackdown and chanting pro-democracy slogans, the four members of the opposition party League of Social Democrats had attempted to march to the harbor-side Convention Center where the official celebration was being held.

Dozens of officers, part of a massive police presence deployed to prevent any disruptions on the day, surrounded them and kept them out of sight and earshot of officials attending a flag-raising ceremony.
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