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Caixin Media

09.01.15

Quantum Computing and Alibaba’s Leap of Faith

Building a quantum computer that processes data at speeds trillions of times faster than the world’s fastest computer, China’s supercomputer Tianhe-2, is the goal of a potentially game-changing venture launched by Alibaba Group Holding Ltd. and the...

Books

08.27.15

China’s Disruptors

Edward Tse
In September 2014, Chinese e-commerce giant Alibaba raised $25 billion in the world’s biggest-ever initial public offering. Since then, millions of investors and managers worldwide have pondered a fundamental question: What’s really going on with the new wave of China’s disruptors?Alibaba wasn’t an outlier—it’s one of a rising tide of thriving Chinese companies, mostly but not exclusively in the technology sector. Overnight, its founder, Jack Ma, appeared on the same magazine covers as American entrepreneurial icons like Mark Zuckerberg. Ma was quickly followed by the founders of other previously little-known companies, such as Baidu, Tencent, and Xiaomi.Over the past two decades, an unprecedented burst of entrepreneurialism has transformed China’s economy from a closed, impoverished, state-run system into a major power in global business. As products in China become more and more sophisticated, and as its companies embrace domestically developed technology, we will increasingly see Chinese goods setting global standards. Meanwhile, companies in the rest of the world wonder how they can access the fast-rising incomes of China’s 1.3 billion consumers.Now Edward Tse, a leading global strategy consultant, reveals how China got to this point, and what the country’s rise means for the United States and the rest of the world. Tse has spent more than twenty years working with senior Chinese executives, learning firsthand how China’s most powerful companies operate. He’s an expert on how private firms are thriving in what is still, officially, a communist country. His book draws on exclusive interviews and case studies to explore questions such as:What drives China’s entrepreneurs? Personal fame and fortune—or a quest for national pride and communal achievement?How do these companies grow so quickly? In 2005, Lenovo sold just one category of products (personal computers) in one market, China. Today, not only is it the world’s largest PC seller; it is also the world’s third-largest smartphone seller.How does Chinese culture shape the strategies and tactics of these business leaders? Can outsiders copy what the Chinese are doing?Can capitalists really thrive within a communist system? How does Tencent’s Pony Ma serve as a member of China’s parliament while running a company that dominates online games and messaging?What impact will China have on the rest of the world as its private companies enter new markets, acquire foreign businesses, and threaten established firms in countless industries?As Tse concludes: “I believe that as a consequence of the opening driven by China’s entrepreneurs, the push to invest in science, research, and development, and the new freedoms that people are enjoying across the country, China has embarked on a renaissance that could rival its greatest era in history—the Tang dynasty. These entrepreneurs are the front line in China’s intense hunger for success. They will have an even more remarkable impact on the global economy in the future, through the rest of this decade and beyond.” —Portfolio/Penguin{chop}

Conversation

08.25.15

Is the Bloom Off the Rose of China’s Economic Miracle?

Arthur R. Kroeber, David Schlesinger, Fred Hu, Derek Scissors
On Monday, August 24, the Shanghai Composite Index dropped 8.5 percent, its second such steep fall since late July, and its worst since 2007. On Tuesday, stocks fell an additional 7.6 percent. The steep slide translates into more than $4 trillion in...

Caixin Media

08.24.15

How to Solve China’s Currency Parity Puzzle?

Boosting exports, controlling outbound capital flow and supporting the Chinese currency’s bid for Special Drawing Rights (SDR) status are just some of the reasons cited by analysts for the yuan's unexpected devaluation in mid-August.The yuan...

Features

08.20.15

Is China About to Plunge the World Into Recession?

David Wertime
On Aug. 18, China’s stock market plummeted by a vertigo-inducing 6.2 percent in one day of trading, part of a months-long decline that’s erased over $3 trillion worth of market value from the country’s equity markets. That followed last week’s...

Caixin Media

08.18.15

Official Stonewalling on Tianjin Explosions Sparks Outcry

While victims of the Tianjin explosions are still waiting to be told why their loved ones died or, how safe it is to go outside, officials remained evasive in the sixth press conference regarding the disaster.In response to a question from a Caixin...

Caixin Media

08.11.15

Auditors Probe Sinopec, Savvy Broker in Angola

Government auditors are taking a closer look at U.S.$10 billion worth of offshore oil investments by state-run China Petroleum & Chemical Corp. (Sinopec) that owe their existence to a Hong Kong businessman with a flair for networking in the...

China’s Role in Africa’s ‘Looting Machine’

Eric Olander, Cobus van Staden, Tom Burgis
China goes to great lengths to differentiate its engagement in Africa from the continent’s former European colonizers by emphasizing so-called “win-win development.” Chinese leaders regularly visit Africa where they emphatically reject the...

Viewpoint

08.07.15

Here’s What’s Wrong With Most Commentary on the Beijing 2022 Olympics

Taisu Zhang, Paul H. Haagen
Upon hearing that Beijing would be hosting the 2022 Winter Olympics, we wondered what the Chinese government was thinking. The decision seemed counterintuitive, to say the least: For one thing, it barely snows in Beijing, or even in Zhangjiakou, the...

Conversation

08.05.15

Should the U.S. Extradite Chinese Wanted by Beijing?

Jerome A. Cohen, Chen Weihua, Zha Daojiong, Donald Clarke, Ryan Mitchell
This week, The New York Times reported that Chinese officials have asked the U.S. government to help in apprehending Ling Wancheng, a wealthy Chinese business man and the brother of one of the highest-level officials to have been targeted in Xi...

Media

08.05.15

Beijing’s Ban on Smoking Is Actually (Sort of) Working

They rarely trash hotel rooms or boast about drugs, but Chinese rock stars could at least be counted on to smoke. Now even that’s starting to change in the face of a smoking ban in China’s capital that shows little sign of burning out, almost two...

Caixin Media

08.03.15

Villain or Hero for Stock Market Saga?

An obscure equities-trading finance agency that brokers often slighted in favor of bank loans has suddenly taken center stage in the drama playing out in the stock market.But reviews are mixed over whether the four-year-old, quasi-governmental China...

Caixin Media

07.27.15

Tech Takeoff Lifts Drone Industry to New Heights

A tech evolution and falling production costs have allowed drones to make the flight off military bases and Hollywood production lots to the hands of ordinary people and government agencies.It has become routine to see these small unmanned aerial...

Caixin Media

07.20.15

How Beijing Intervened to Save China’s Stocks

Top executives from 21 securities firms spent the morning of Saturday July 4 pinned to government office chairs while the future of China’s stock markets hung in the balance.They’d been summoned on a day off to the Beijing office of the China...

Caixin Media

07.14.15

Uber CEO Enjoying a Fast China Ride

Demand for cross-town transportation is at the heart of an urban lifestyle that is defining modern China. It is also giving the American car-hire service Uber Technologies Inc. an incredible ride.Few are enjoying the ride more than Uber CEO Travis...

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