The next generation
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5G, or fifth-generation mobile telecommunications technology, enables data to be transferred at a speed that's 20 times faster than existing standards. The Huawei 5G fight is at the centre of the US-China tech war. A Huawei ban was implemented in the US in May 2019
China Mobile’s market capitalisation is 2.1 trillion yuan (US$304.8 billion), second only to Kweichow Moutai’s 2.2 trillion yuan, as traders bet the mobile-network operator will benefit from Beijing’s plan to digitise the economy.
Chinese and Australian commerce ministers are set to meet via video ‘in the near future’ in a further sign of easing trade and political tensions, but issues over lithium and tech giant Huawei Technologies Co remain.
Fresh confidence is abound in China with the easing of Covid restrictions, amid ‘age of high mass consumption’ led by technology.
Compared to rich nations, low- and middle-income nations are reaping poorer rewards from their tech investments – but China is bucking the trend.
While the offer is open to other countries, it is most applicable to China, given its dominance in Indian electronics. But it remains to be seen whether such a partnership can bolster Indian electronics manufacturing or give greater security to Chinese companies in India
America pays high price as it tries to shut out Chinese companies, deny them access to advanced technologies and erode their supply-chain advantages.
China needs to encourage new ideas and innovation if it is to chart a long term path through tech decoupling.
Given the increasing popularity of the use of internet-based SCADA systems to monitor industrial processes, companies are vulnerable to cyberattacks. A blockchain framework could help prevent such attacks, especially if it encompasses internet-of-things, 5G and other emerging technologies.
Biden should undo Trump’s needlessly confrontational damage to the bilateral relationship – on condition that China takes equivalent steps back. The deep causes of US-China friction will remain but an easing of tension will give both governments space to re-engage.
As the Sweden example shows, Beijing’s way of dealing with criticism is eroding its soft power. China needs to avoid alienating other countries and learn how to influence people if it is to cement its place at the top.
With companies such as Ant, ByteDance, Huawei and Nio inspiring clones in the West, China is becoming an innovation epicentre. Rather than keep Chinese companies out, the West should make clear the areas of collaboration or protection.
While the US still holds considerable sway, Mideast nations would rather not pick sides, preferring to work with an array of partners. They are looking to build their own futures and cannot afford to wait for the US to decide how it will engage.
Chinese companies are increasingly focusing on developing supply chains to leverage data and consumer insights. Firms could target international and domestic consumers using data from e-commerce giants, with the main players shifting to meet demand for advanced technology.
The proposed TikTok deal shows a way forward for Chinese tech companies hoping to expand in the West, writes Wang Xiangwei.