Self-sufficiency in food has long been the mantra of China. But that is changing, as the country even imports rice from the US. Aging farmers, pollution and other challenges makes this change necessary, tells assistant professor Sara Shu, as the domestic production cannot be guaranteed.
State-owned companies are getting a stronger grip on the economy, at the expense of private capital, says economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, at the New York Times. The major investment of major tech firm in China Unicom was just the latest move.
Internet giant Tencent might be most known for its loss-making WeChat, but that chat tool is effectively used to generate revenue through gaming, says e-commerce expert Matthew Brennan on QZ. The company reported a stellar performance of the second quarter.
China’s consumers do not trust the food produced in their own country, after many food scandals. That could also be a great business opportunity, says business analyst Shaun Rein in Barfblog, who looked at Weinberg’s Inscatech — a global network of food spies.
Chinese companies are running for cover as president Xi Jinping’s powerplay is also hitting the economy. China regularly pulls the reins, when too much financial power is flowing outside the state economy, says renowned economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know® in the Financial Times.
Internet giant Baidu has been under attack by Chinese internet users for medical ads. Former Baidu communication director Kaiser Kuo, defends his former company and says criticism has been unfair. Main Baidu problem: failing sales, he tells TechNode.
Alibaba’s Ant Financial has been leading the charge in online financial transactions, but Tencent wants to gain back market share by setting up its own credit sharing system. A much needed move, says fintech expert Matthew Brennan to Pymnts.
Fast food chain McDonald’s faces decline worldwide, but wants to counter that trend by doubling the number of stores in China. Its alliance with property giant Evergrande makes sense for this strategy, explains business advisor Shaun Rein to the South China Morning Post.
China is, as the second largest economy, becoming an attractive source of new business ideas, says Shanghai-based VC William Bao Bean. Although the China market itself is a hard one to crack, for startups and larger companies, he tells in WebinTravel.
Pressure is up on US president Trump to act against China in trade issues. Trump has been avoiding harsh action up to now, and political analyst Victor Shih warns that with a major political conference ahead, moderation will not be high on the country’s agenda, he tells Bloomberg.