Showing posts with label Wall Street Journal. Show all posts
Showing posts with label Wall Street Journal. Show all posts

Tuesday, December 17, 2013

Chinese Answers

On the outside, China's answer to Silicon Valley doesn't look the part: It's a crowded mass of electronics malls, fast-food joints and office buildings in northwest Beijing, bisected by congested highways.

Inside China's Version of Silicon Valley, Wall Street Journal, Dec 4, 2013.



Large parts of eastern China, including its prosperous and cosmopolitan commercial capital Shanghai, have been covered in smog over the past week or so. The provincial government has cancelled flights, closed schools and forced cars off the road – and also warned children and the elderly to stay indoors. A cold front arriving yesterday saw the pollution start to clear.

Users of Sina Weibo, China’s answer to Twitter, also vented their outrage over the CCTV and Global Times’ comments.

Positive Spin on China's Smog Crisis Baackfires, The Scotsman, 11 Dec, 2013
Over 86,000 micro-credit practitioners, China's answer to Muhammad Yunus, the Bangladeshi banker credited with pioneering the concept of micro-finance, have been going door to door to visit small business owners and farmers to offer them financial advice and services.

Rags to Riches Tales Expected from Micro Financing Growth, Xinhua Insight, 14 Dec, 2013
China Telecom’s subsidiary Jiangsu Telecom, in Jiangsu province on the east coast of the country, posted the offer on its website. Translated details were scarce, but it appears customers have the chance to use bitcoin instead of yuan to pre-order Samsung’s 2014 clamshell form-factor Android phone.

Payments are processed through BitBill, China’s answer to BitPay.

China's Third Largest Mobile Network Now Accepts Bitcoin, Coindesk.com Nov 29, 2013.

58.com, China’s answer to Craigslist, surged nearly 42 per cent to $24.12 in its debut on the New York Stock Exchange on Thursday, in a sign that sentiment towards US-listed Chinese companies could be turning after two years of accounting scandals and critical reports from short-sellers.

China's Answer to Craiglist Surges on US Debut, FT.com, Nov 1st, 2013

 
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Saturday, September 14, 2013

More Detentions as China Continues Big V Crackdown

As the sixth human rights conference in Beijing gets underway Chinese authorities continue to merrily roundup up high profile microbloggers.  The New Citizen Movement, which says it works within the Chinese constitution, such as it is, is slowly being dismantled amid a raft of arrests and detentions by the Beijing authorities.

Wang Gongquan, a billionaire venture capitalist was detained on Friday under suspicion "of gathering a crowd to disturb order in public places.".  The catch all accusation, along with "incitement to subvert state power" is used to cover a multitude of vague sins, no of which any officials are willing to fully explain to the press.  Shit like this just happens in China.  The Wall Street Journal reports that it took 20 police officers to remove the dangerous individual from his home in Beijing.

Clearly hellbent on the destruction of the Chinese State, Wang's connections to the New Citizen Movement haven't done him any favors.  The loosely connected group of wealthy white collar business men routinely speak out against the government online and call for officials to disclose their assets.  One of the movement's founders, Professor Teng told the Daily Telegraph
“Of course Wang Gongquan didn’t commit any crime under the current legal system.  Wang is a famous investor but he has [also] been supportive of civil society and human rights for many years.” “I don’t know what will happen to him [but] if Wang is not released within 24 hours it will be very worrying.".

Chen Min, a journalist who has championed Prof. Teng's movement in recent months said in the same interview that a "white terror" had descended on Beijing,

In an interview with the South China Morning Post, Wang had expressly said that he never posts calls to action on his Weibo account, because he already knows that protesting on the streets in China is illegal.  It obviously makes sense that he would be arrested for something that he'd already dismissed as a pointless course of action.
SCMP: Would you protest in front of any government agency?

Wang: I am against street actions. I have never encouraged street actions.

SCMP: Why is that?

Wang: Because the Communist Party doesn’t allow it. It's such a simple reason!

A statement was released early on Saturday morning saying
Free Wang Gongquan. Give a chance to goodness, to freedom and justice, and to a peaceful transformation. Fellow Chinese, when the nest is upset no egg is left intact. Do not let our country fall any deeper into the abyss in the opposite direction of modern civilization without doing anything. Take actions to defend the effort to build a civil society, for, by doing so, we are defending ourselves, each one of us.

The arrest of Wang follows the detention and subsequent charging - Chinese police tend to arrest first and then find something that the poor sap languishing in the cells is guilty of - of lawyer Xi Zhiyong, who last June managed to film a statement from his cell, the uploaded video immediately going viral on China's social networks.

Another prominent critic of the Chinese government was also taken into custody on Friday.  Microblogger (aren't there any megabloggers being arrested?) Dong Shiru was detained when it was discovered that he mis-registered the amount of capital available to his business.  The police acted swung into action only a week after Dong had openly admitted this "crime" to his 500,000 followers on Weibo.  That transgression alone shouldn't land him in much hot water, as the Global Times pointed out
It is common for private enterprises to exaggerate their registered capital to imply that they are powerful and credible, Wu Dong, a Shanghai-based lawyer from the M&A Law Firm, told the Global Times.

Owners of such companies can be charged with a crime only if they cause financial damages of more than 100,000 yuan to others or carry on illicit activities, Wu said

What's more likely to get him in trouble is the fact that he often posts about those inconvenient deaths in police custody.  One case that grabbed the headlines was a incident wherein an inmate had brutally and savagely beaten himself to death during a game of hide and seek.  Dong predicted his arrest when his offices were raided by the police and three computers were confiscated, he even went so far as to list the possible offenses that he might be charged with
"What crime will they bring against me? Prostituting, gambling, using and selling drugs, evading tax, causing trouble on purpose, fabricating rumors, running a mafia online?"

Even Dong's close friends don't hold out much hope that they'll be seeing him any time soon, "If they want to punish you, they can always find an excuse," Dong's friend Zheng Xiejian said. "They could not find any wrongdoing against Dong and had to settle on this obscure charge."


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Thursday, August 15, 2013

Examining The Taiwanese Crisis

The Wall Street Journal presents an excellent analysis of the crisis facing the Taiwanese Ministry of National Defense in the light of the death of one of it's soldiers on a military base.

In previous years, PRC guns have been trained on Taiwan.  Relations have warmed between the Chinese mainland the island in recent years, but suspicions still remain on both sides.  The Communist government famously announced that it would be ready to wash the island with blood, so things probably couldn't get much worse.

The accident death of solider Hung Chung-chiu has brought Taiwan it's worst crisis in recent memory.  His alleged transgression - taking a forbidden cell phone into his barracks - resulted in extreme physical punishment, and ultimately his death, sparking debate as to what exactly was going on at the base he was stationed on.

Conscription is due to officially end in a couple of years time, turning the Taiwanese army into a purely volunteer force, something that could potentially weaken the position of the US in Asia.


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Chinese Answers

On the outside, China's answer to Silicon Valley doesn't look the part: It's a crowded mass of electronics malls, fast-food join...