Hong Kong pension fund losses, Singapore minister’s ‘cringe’ advice, Chinese scientists inspired by worms: SCMP’s 7 highlights
- From an escalating war of narratives between China and the US to Hong Kong’s unprecedented pension fund losses, here are few highlights from SCMP’s recent reporting
1. Narrative battle escalates as China touts Huawei tech as win over US sanctions
An apparent chip advance by tech giant Huawei is being touted at home as evidence of waning American power. However, equally, voices are growing in Washington that China’s decades-long “economic boom is over” and it is the one on the wane.
The competing stories each country tells of the other’s fading glory could spin relations between the two out of control.
2. Hong Kong’s MPF poised for unprecedented third year of losses
Hong Kong’s Mandatory Provident Fund (MPF), the pension fund covering 4.7 million people in the city, suffered an investment loss of HK$30.8 billion (US$3.9 billion) in the third quarter that wiped all gains made in the first half of the year.
3. Singaporeans ‘cringe’ over advice on discarding drink packet with founder’s image
Singaporeans have ridiculed a minister on social media for suggesting a drink packet that features the image of the city state’s late independence leader Lee Kuan Yew should be disposed of in an “appropriate and responsible manner”.
4. Chinese scientists create low-carbon building materials inspired by worms
The team looked to the underwater structures built by sandcastle worms and say their materials – made from grains including sand, coal cinder and brick rubble – meet compression standards for construction.
5. Why Hong Kong factory restaurants ‘have no choice’ but to flout the law
Under government regulations, restaurants that open to the public are not allowed to operate in factory buildings. Despite the risks, however, many operators of such businesses continue to flout the rules, lured by cheaper costs and larger spaces.
6. ‘Small fish’ retailers choose defiance as Indonesia targets sales over TikTok
The ban, introduced on September 25, follows lobbying by retailers saying their businesses are being killed by online sales. But experts believe it will not last, given the economic heft of TikTok in Indonesia, and urged improving regulation instead.
7. ‘They owe me’: man, 28, PhD student at 16, still financially dependent on parents
Zhang Xinyang, a Chinese prodigy who won a university place at the age of 10 and went to graduate school at 13, now says “sitting around and doing nothing is the key to lifelong happiness”.
