Bloomberg

CHINADebate

Risks & Trends

Matt Levine | Bloomberg

VIEs

—

3

Part 1 | 'Owning Chinese Companies Is Complicated'

‘ “Variable interest entities”(VIEs): The problem with this is that it sort of sounds like you’re kidding. But this is a standard method for mainland Chinese internet companies to go public, and the market has come to accept it.’

Matt Levine | Bloomberg

7/22/2021

Bloomberg

CHINADebate

Risks & Trends

Matt Levine | Bloomberg

VIEs

—

4

Part 2 | The DiDi VIE (as an example)

‘The prospectus has a diagram, above, of the corporate structure, which looks almost normal. But everything below the double arrow — the actual ride-hailing business, etc. — is slightly askew.’

Matt Levine | Bloomberg

7/22/2021

Bloomberg

CHINADebate

Risks & Trends

Matt Levine | Bloomberg

VIEs

—

5

Part 3 | Revising the Rules

‘The Chinese government could declare “all these VIE contracts are actually a disguised form of foreign ownership, which is not allowed by the rules, so they are all void and your Didi and Alibaba shares are worthless.” ’

Matt Levine | Bloomberg

7/22/2021

Nikkei Asia

CHINADebate

Risks & Trends

VIEs

—

2

'Crackdown on US listings: Will China close $1.6tn VIE loophole?'

‘If Chinese authorities start to question “Variable interest entities”(VIEs), amid the crackdown that has already battered ride-hailing company Didi Global -- another VIE user -- the resulting loss of investor trust could send shock waves through global financial markets.’

7/22/2021

Financial Times

CHINADebate

Risks & Trends

Jamie Powell | Financial Times

VIEs

—

1

'Tell me lies, tell me sweet little VIEs'

Jamie Powell | Financial Times

7/22/2021

Bloomberg

CHINADebate

The Big Ideas

—

'China Plans to Exempt H.K. IPOs From Cybersecurity Reviews'

‘China plans to exempt companies going public in Hong Kong from first seeking the approval of the country’s cybersecurity regulator, removing one hurdle for businesses that list in the Asian financial hub instead of the U.S.’

7/18/2021

The Wall Street Journal

CHINADebate

The Big Ideas

The Editorial Board | The Wall Street Journal

—

'Biden’s Warning on Hong Kong'

‘The pretense of Chinese and Hong Kong authorities is that their crackdown on the rule of law and dissent will have no effect on Hong Kong’s viability as an international center for trade and finance.’

The Editorial Board | The Wall Street Journal

7/18/2021

CHINADebate

The Big Ideas

—

Why the U.S. Lacks Leverage over China

During the celebration of the Chinese Communist Party’s Centennial celebration, Mr. Xi stood in the same place on the balcony facing Tiananmen Square where Mao Zedong stood when he announced the founding of the PRC; Mr. Xi wore a gray Mao suit, among a sea of blue western suits; and he centered himself right above the portrait of Mao, who is similarly attired.

Malcolm Riddell

Founder of CHINADebate

7/18/2021

Nikkei Asia

CHINADebate

The Big Ideas

—

'I will aim for Mao's Status.'

‘There on the gate was Xi Jinping, Chinese president and party general secretary, in a gray Mao suit. Just below his feet was the portrait of Mao Zedong, also dressed in a gray Mao suit.’

7/18/2021

Financial Times

CHINADebate

The Big Ideas

—

'US warns companies of risk of doing business in Hong Kong'

“In the face of Beijing’s decisions over the past year that have stifled the democratic aspirations of people in Hong Kong, we are taking action,” said Antony Blinken, US secretary of state. “Today we send a clear message that the US resolutely stands with Hong Kongers.”

7/18/2021

CHINADebate

Biden China Tracker

Biden Doctrine

—

0

The Biden Doctrine and Its Discontents

President Biden has framed China as a threat both to the U.S. and the liberal world order.

Malcolm Riddell

Founder of CHINADebate

7/15/2021

The Economist

CHINADebate

Biden China Tracker

Biden Doctrine

—

3

'What's Wrong with Biden’s new China doctrine'

‘Mr Biden’s aides invariably start any discussion of China strategy with the need to restore American greatness after decades of decline.’

7/15/2021

The Economist

CHINADebate

Biden China Tracker

Biden Doctrine

—

2

Part 2 | Joe Biden is determined that China should not displace America

‘Mr Biden’s aides invariably start any discussion of China strategy with the need to restore American greatness after decades of decline.’

7/15/2021

The Economist

CHINADebate

Biden China Tracker

Biden Doctrine

—

1

Part 1 | 'Joe Biden is determined that China should not displace America'

‘Biden’s emerging China strategy, while still protean, sounds of a kind with Mr Doshi’s prescription for “blunting and building”.’

7/15/2021

CHINADebate

In-Depth

—

Didi: Xi Surprises Us Again

Beijing shocked the financial world when it pulled the rug out from under Didi days after its IPO on the New York Stock Exchange and also announced new regulations reigning in overseas IPOs and Chinese companies already listed.

Malcolm Riddell

Founder of CHINADebate

7/8/2021

CHINADebate

The Big Ideas

—

The Chinese Point of View

Here are a few of my thoughts on the importance of Wang Jisi’s ‘The Plot Against China.’ Yuen Yuen Ang’s ‘The Evolution of Chinese Corruption’ speaks for itself - but note especially how Mr. Xi's anti-corruption campaign could hurt China's economy. I have now lived long enough that when a friend complains about his or her spouse, I say to myself, ‘There are no doubt two sides to this story.’

Malcolm Riddell

Founder of CHINADebate

7/4/2021

Foreign Affairs

CHINADebate

The Big Ideas

Wang Jisi | President of the Institute of International and Strategic Studies at Peking University

—

'How Beijing Sees U.S.-China Relations'

‘In Chinese eyes, the most significant threat to China’s sovereignty and national security has long been U.S. interference in its internal affairs aimed at changing the country’s political system and undermining the CCP.’

Wang Jisi | President of the Institute of International and Strategic Studies at Peking University

7/4/2021

Foreign Affairs

CHINADebate

The Big Ideas

Yuen Yuen Ang | University of Michigan

—

'How Corruption Powers China's Economy'

‘China has managed to sustain four decades of economic growth despite levels of corruption that even Xi has described as “grave” and “shocking.” Why does it seem to have bucked the trend?’

Yuen Yuen Ang | University of Michigan

7/4/2021

CHINADebate

Interview

Tony Saich

Professor, Harvard Kennedy School of Government

—

Five Themes that Point to Where the Chinese Communist Party & China are Heading

As the Chinese Communist Party begins its second century, it’s useful to identify enduring patterns that might aid us in understanding China today and the directions it might be heading.

7/1/2021

CHINADebate

Interview

Tony Saich

Professor, Harvard Kennedy School of Government

—

From Rebel to Ruler: One Hundred Years of the Chinese Communist Party by Tony Saich

‘In our discussions, you've identified five themes that have been more or less consistent throughout the history of the party but have oscillated between different points on a continuum:’

7/1/2021

Harvard Magazine

CHINADebate

The Big Ideas

Tony Saich

Professor, Harvard Kennedy School of Government

Ed Steinfeld | Brown University

—

'From Rebel to Ruler': Tony Saich on Chinese Communism at 100

‘At so many points during its century-long existence, the CCP appeared to be in its death throes, whether as a result of external attack or self-inflicted internal strife.’

Ed Steinfeld | Brown University

7/1/2021

The European Union Chamber of Commerce in China

CHINADebate

The Big Ideas

—

European Chamber in China: 'Business Confidence Survey'

A mere 9% of European companies are considering moving any current or planned investment out of China, the lowest level on record. Instead, companies are strengthening their positions in JVs, onshoring supply chains and increasing spending to secure market share. The ambition not only to stay but also to expand their China footprint is more than justcapital flooding in due to optimism about growth. Companies are taking action to secure their operations in China and mitigate exposure to geopolitical trends in order to have a better chance of navigating a future that looks to be fraught with risk, at least in the near- to medium-term.

6/27/2021

Project Syndicate

CHINADebate

The Big Ideas

Mike Spence | NYU & Nobel Laureate in Economics

—

'How China & America Should Compete'

‘China and the West urgently need a new framework for understanding the state of the world and their place in it. Such a framework must recognize, first and foremost, that properly regulated economic competition is not a zero-sum game.’

Mike Spence | NYU & Nobel Laureate in Economics

6/27/2021

Project Syndicate

CHINADebate

The Big Ideas

Ian Buruma

—

'Jimmy Lai & the Death of Free Speech in Hong Kong'

Jimmy Lai’s tabloid, the Apple Daily, with its peculiar blend of scandal, gossip, and serious political reporting, was Hong Kong’s indispensable voice of free speech. Now that voice has been silenced, and Lai is in prison with others who tried to protect the right of Hong Kong’s citizens to speak and write freely, to be ruled by law, and to vote for their own autonomous government. Their politics are diverse Yet they stand together. When freedom is under siege, people cannot afford the narcissism of small differences that is tearing apart liberal politics in countries where people think democracy can be taken for granted.

Ian Buruma

6/27/2021

the market NZZ

CHINADebate

The Big Ideas

Jörg Wuttke | President of the EU Chamber of Commerce in China

—

'European Companies in China: Between Decoupling and Onshoring'

‘Instead of leaving the market, European companies are exploring ways to separate their China operations from their global ones.’ ‘Following the Covid-19 outbreak, European companies in China spent the first few months of 2020 solemnly appraising their investment strategies.’

Jörg Wuttke | President of the EU Chamber of Commerce in China

6/27/2021

Center for Strategic & International Studies (CSIS)

CHINADebate

The Big Ideas

Scott Kennedy | Center for Strategic & International Studies

—

'Congress on China: Then and Now'

‘With the Senate voting on June 8, 2021, to adopt the United States Innovation and Competitiveness Act, it is safe to say that this is the most comprehensive action by Congress on China policy EVER.’ ‘The language of the United States Innovation and Competitiveness Act is about a long-term competition with China as opposed to war with an enemy.’

Scott Kennedy | Center for Strategic & International Studies

6/24/2021

Global Times

CHINADebate

The Big Ideas

—

'Apple Daily closed, but press freedom stays in Hong Kong'

‘Freedom of the press is a good thing. The West's freedom of speech must be consistent with national interests and public security.’

6/24/2021

CHINADebate

The Big Ideas

—

The End of 'Apple Daily' - and Freedom of the Press in Hong Kong

Through arrests and freezing of assets, Beijing has forced the closing of Hong Kong’s last pro-democracy newspaper, the Apple Daily.

6/24/2021

South China Morning Post (SCMP)

CHINADebate

The Big Ideas

—

'Hong Kong’s Apple Daily newspaper folds under government pressure'

Apple Daily was much more than a newspaper. To its fans, it was a defender of freedoms. To its foes, it was the defiler of national sovereignty.’

6/24/2021

Financial Times

CHINADebate

The Big Ideas

—

'China steps up crackdown on bitcoin mining industry'

‘China’s latest intervention places further pressure on what was once one of the world’s most vibrant markets for trading and mining digital currencies.’ ‘It comes at a time when many governments are scrutinising the industry’s effect on the environment and determining the types of financial oversight that should be applied to cryptocurrencies.’

6/24/2021

Financial Times

CHINADebate

The Big Ideas

—

Bitcoin’s growing energy problem: ‘It’s a dirty currency'

“Bitcoin alone consumes as much electricity as a medium-sized European country.”

6/24/2021

CHINADebate

In-Depth

What the West Gets Wrong About China

—

0

‘Why do business and political leaders in the West persist in getting China so wrong?’

From that I suggested that to invest successfully in China, you have to understand – and be aware of - what those differences are.

Malcolm Riddell

Founder of CHINADebate

6/20/2021

Harvard Business Review

CHINADebate

In-Depth

Rana Mitter | Oxford

What the West Gets Wrong About China

—

1

Part 1 | ‘Why do business and political leaders in the West persist in getting China so wrong?’

‘Why do business and political leaders in the West persist in getting China so wrong?’

Rana Mitter | Oxford

6/20/2021

Harvard Business Review

CHINADebate

In-Depth

Rana Mitter | Oxford

What the West Gets Wrong About China

—

2

Part 2 | ‘Myth 1: Economics and Democracy Are Two Sides of the Same Coin'

‘The truth, then, is that China is not an authoritarian state seeking to become more liberal but an authoritarian state seeking to become more successful—politically as well as economically.’

Rana Mitter | Oxford

6/20/2021

Harvard Business Review

CHINADebate

In-Depth

Rana Mitter | Oxford

What the West Gets Wrong About China

—

3

Part 3 | ‘Myth 2: Authoritarian Political Systems Can’t Be Legitimate’

‘A Marxist-Leninist system is concerned not only with economic outcomes but also with gaining and maintaining control over the system itself.’ ‘That has huge implications for people seeking to do business in China.’

Rana Mitter | Oxford

6/20/2021

Harvard Business Review

CHINADebate

In-Depth

Rana Mitter | Oxford

What the West Gets Wrong About China

—

4

Part 4 | ‘Myth 3: The Chinese Live, Work, and Invest Like Westerners’

‘For much of its turbulent modern history, China has been under threat from foreign powers, both within Asia (notably Japan) and outside it (the UK and France in the mid 19th century).’ ‘China’s rulers, therefore, see foreign engagement as a source less of opportunity than of threat, uncertainty, and even humiliation.’

Rana Mitter | Oxford

6/20/2021

The Wall Street Journal

CHINADebate

The Big Ideas

Mike Bird | The Wall Street Journal

—

'Meet the New Chinese Economy, Same as the Old Chinese Economy'

If a recovery led by investment in real estate and industrial production, with consumption lagging behind, sounds familiar, it may be because the same could be said of the makeup of China’s growth before Covid-19.’

Mike Bird | The Wall Street Journal

6/17/2021

The Wall Street Journal

CHINADebate

The Big Ideas

James T. Areddy | The Wall Street Journal

—

'Back-to-Back Rebukes of China Mark a Turning Point'

‘The one-two punch of public criticism smacks directly into Mr. Xi’s assertion that China won’t stand for lecturing by other nations, suggesting anxiety in key capitals is prompting governments to seek alignment with the U.S. over attempting to manage the relationship with Beijing on their own.’

James T. Areddy | The Wall Street Journal

6/17/2021

The New York Times

CHINADebate

The Big Ideas

Keith Bradsher | The New York Times

—

Part 1 | 'Is China exporting inflation?'

‘Beijing is moving swiftly to protect its factories and workplaces from rising costs.’ ‘Still, rising prices in China, by far the world’s biggest manufacturer and exporter, could be felt around the world.’

Keith Bradsher | The New York Times

6/17/2021

The New York Times

CHINADebate

The Big Ideas

Keith Bradsher | The New York Times

—

Part 2 | 'Is China exporting inflation?'

“Is China exporting inflation? In renminbi terms, it’s not so obvious. But in U.S. dollar terms, it starts to get more sizable.” ’

Keith Bradsher | The New York Times

6/17/2021

Foreign Affairs

CHINADebate

The Big Ideas

Bernie Sanders | United States Senator

—

Bernie Sanders: 'Don’t Start a New Cold War With China'

‘The pendulum of conventional wisdom in Washington has now swung from being far too optimistic about the opportunities presented by unfettered trade with China to being far too hawkish about the threats posed by the richer, stronger, more authoritarian China that has been one result of that increased trade.’

Bernie Sanders | United States Senator

6/17/2021

CHINADebate

Interview

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

Interview: Prestowitz

—

0

'Forget about China': Clyde Prestowitz

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

6/13/2021

CHINADebate

Interview

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

Interview: Prestowitz

—

1

1 | The Interview: Clyde Prestowitz

‘I have spent a lot of time negotiating with countries around the world, but particularly with China, Japan, and Korea, in pursuit of American attempts, to persuade them to change their policies and change their objectives, and the way that they pursue building their economies. And I have come to the conclusion that they're not going to change.'

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

6/13/2021

CHINADebate

Interview

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

Interview: Prestowitz

—

2

2 | 'Shame on You'

‘The bottom line really is that if you're a major American company, and you're doing a lot of business in China, effectively, you are contributing to the torture of the weavers, to the crackdown in Hong Kong, to the threat to Taiwan.’

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

6/13/2021

CHINADebate

Interview

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

Interview: Prestowitz

—

3

3 | 'Made in America'

‘President Biden made the statement in a speech: “Buy American. Make it in America.” Why can't we make wind turbines in Pittsburgh, as well as in Beijing?’

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

6/13/2021

CHINADebate

Interview

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

Interview: Prestowitz

—

4

4 | The Chinese System

'Now, how does The China Daily get into The Washington Post? It gets there because the United Front Work Department of the Chinese Communist Party is funding that. And so it's a whole of society attack.

Clyde Prestowitz | Founder and President of the Economic Strategy Institute & author of 'The World Turned Upside Down: America, China, and the Struggle for Global Leadership'

6/13/2021

Center for Strategic and International Studies

CHINADebate

Biden China Tracker

Pierre Morcos | Center for Strategic and International Studies

G7 to D10

—

4

'NATO & China's Challenges to Europe'

‘Even though China does not pose a direct military threat to NATO, contrary to Russia or terrorist groups, Beijing’s growing economic influence and diplomatic assertiveness in Europe coupled with its growing military relationship with Russia do have major implications for the transatlantic economy as well as its security.’

Pierre Morcos | Center for Strategic and International Studies

6/9/2021

CHINADebate

Biden China Tracker

G7 to D10

—

0

Biden Worries China Might Win

‘Biden has taken the vital first step of correctly diagnosing the strategic challenge facing the country.’ ‘Like Harry Truman at the start of the Cold War and George H. W. Bush at its end, the president now has an opportunity to create a framework for a new era.’

Malcolm Riddell

Founder of CHINADebate

6/9/2021

The Washington Post

CHINADebate

Biden China Tracker

Joe Biden | President of the United States

G7 to D10

—

1

Joe Biden: 'My trip to Europe is about America rallying the world’s democracies'

‘This is a defining question of our time: Can democracies come together to deliver real results for our people in a rapidly changing world?’

Joe Biden | President of the United States

6/9/2021

The Atlantic

CHINADebate

Biden China Tracker

Thomas Wright | Brookings

G7 to D10

—

2

'Joe Biden Worries That China Might Win'

‘Biden worries that China is in competition for America, and not only that—they might win. This belief underpins the Biden doctrine.’

Thomas Wright | Brookings

6/9/2021

The Atlantic Council

CHINADebate

Biden China Tracker

G7 to D10

—

3

'From the G7 to a D-10: Strengthening democratic cooperation for today's challenges'

‘A “Democratic-10” or “D-10” is aimed at rallying the world’s most powerful democracies around a common cause— advancing a rules-based democratic order based on shared values and common interests.’

6/9/2021