Why Americans do not want to hear China is ahead in technology - Kaiser Kuo

Kaiser Kuo

Americans find it hard to get China is ahead of them in terms of technology and innovation. Chinese American Kaiser Kuo sits down with Steve Sjuggerund of the Daily Wealth to discuss his observations after he spent two decades in China, partly as communication director for internet giant Baidu.

Daily Wealth:

Steve: When I tell Americans that China is ahead of us in technology use, they don't want to hear it. 

Kaiser: I think when we're talking about innovation in China and in the United States, it's important to understand the cultural and social matrix in which these take place... 

You look at China, China has seen technology develop very much in lockstep with its really rapid growth. There's a kind of faith in the ability of technology to deliver better lives. Compare that to the United States right now, where there's a lot of anxiety about technology... 

If you look at some of our leading technologists, people like Bill Gates or like Elon Musk, they're out in public warning about the perils of – Elon Musk called it "summoning the demon" of artificial intelligence – that there are going to be armies of killer robots and we better really start worrying about that now. 

That conversation is barely happening in China... 

There are concerns raised about the jobs that might be lost to advanced robotics and things like that. But by and large, there is this faith that this will deliver better lives. It's a really big contrast. 

Steve: In my travels to China, I can't believe the changes I've seen in the last five to 10 years. What would you say is the biggest change you've seen? 

Kaiser: I have to say the biggest changes weren't at all in the last 10 years...Really, I think it was the decade of the '80s where the light in people's eyes changed. 

Look, I think one thing Americans need to keep in mind when they look at China is: all this change that they've witnessed has happened in the space of one biological generation. You can do a lot in terms of "hardware" change in a biological generation – all the magnificent forests of steel and glass [the skyscrapers] that we see now. 

But the more important change that has to take place is in the "software." That is really in the psychology of people, the mentality of people. That changes more slowly, but those changes are ultimately much more important. 

And where I saw the biggest sort of transformation in that was in that decade of the '80s, where there was almost insatiable curiosity about the outside world just because it had just opened up. 

People were on fire and they didn't stop trying to drink deeply of all this suddenly available knowledge that was around.

More of the interview at the Daily Wealth.

Kaiser Kuo is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Dropping China stocks are bad news - Sara Hsu

Sara Hsu

Investors in Chinese equity know from the past they have put their money on a roller-coaster. But the recent drop is very rough, and - says financial analyst Sara Hsu to the ChinaUSFocus, the drop is worse because much stock has been used as collateral for loans.

Sara Hsu:

However, there is fear that too many of the listed company shares have been pledged as collateral for loans. The total amount is equal to 10-12% of the A-share market cap, according to Sean Darby, chief global equity strategist at Jefferies. This is starting to create a downward spiral as margin calls (demands for additional securities to cover losses) and forced liquidations are carried out and threaten to bring contagion to the real economy, which is already under pressure from dampened demand. 

At the moment, it appears that risk is under control, but just barely. If the stock market continues to melt down, government intervention may be required to stem sharp price declines and reduce the impact on the rest of the economy due to the knock-on effects of margin calls. All of this only serves to compound the lack of funding and bearish sentiment that are worsening the slowdown. 

Government intervention is necessary but certainly not desirable, as it moves China’s economy even further away from the market-oriented system it has been striving for. At this point, the prospects of reform appear dim, as the nation attempts to curb assaults on its very economic viability. A lot must happen in order to improve the country’s prospects: calling off the trade war, removing bad debt, and stimulating consumption and investment will all have to occur before China gets back on its feet and the stock market appears healthy once again.

More in the ChinaUSFocus.

Sara Hsu is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Blue-collar workers: a hidden force in consumption - Shaun Rein

Shaun Rein

Blue-collar workers in China have started to make a lot of money, but are mostly ignored as a force in domestic consumption, says business analyst Shaun Rein, author of The War for China's Wallet: Profiting from the New World Order to CGTN from Shanghai. The focus is on billionaires or youngsters, but the fast emerging wealthy blue-collar workers are forgotten, he argues.

CGTN:

The consumption power of Chinese blue-collar workers is underestimated, and they will generate greater domestic consumption despite the current trade disputes, according to Shaun Rein, founder & managing director of China Market Research Group. 

Rein has been in China for 21 years and has written three books on Chinese market and consumers. He said an obvious trend in China currently is that people are underestimating the optimism of blue collar workers. 

"Three years ago, a lot of young men, maybe between 20-22 years old, were making 1500-2000 yuan a month, working in factories in south China's Guangdong Province, or working in real estate. But because of the rise of e-commerce companies like Meitu, Taobao, these people are making 10,000 yuan a month." 

"There are about 10 million jobs in China today. So the optimism of blue-collar workers is really high despite the trade war," Rein explained.

More at CGTN (including a video clip of the interview). 

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more branding experts at the China Speakers Bureau? Do check out this list. 

Just one idea is not good enough for a startup - William Bao Bean

William Bao Bean

Earning back the investment to gain China users for your internet startup is tough because of the high costs, says Shanghai-based investment guru William Bao Bean to travel website TTG. Just a brilliant idea is no longer enough, you need a suite of services to survive.

William Bao Bean is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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China has more unicorns than the US - Rupert Hoogewerf

Rupert Hoogewerf

China overtook the US as the home of most unicorns, startups with a valuation of over US$1 billion, says the latest Hurun Report, according to the South China Morning Post. Hurun publisher Rupert Hoogewerf: “These unicorns, mostly in the new economy, are the fastest-growing companies with the most potential to grow big against a slowing economy.”

The South China Morning Post:

China’s sprawling network of start-ups worth at least US$1 billion expanded to 181 in the third quarter, overtaking the United States as home to greatest number of successful new ventures, according to Shanghai-based Hurun Report said on Friday. 

The world’s second-largest economy has added 34 “unicorns”, or start-ups worth at least US$1 billion, in the third quarter, the publisher said in a release on Friday. 

The start-ups are worth a combined 4.8 trillion yuan (US$696 billion), and the valuation of its biggest unicorn, Ant Financial, has exceeded its counterparts in the US – Uber and Airbnb, the report said. 

“China has already surpassed the US to become the country with the most unicorns,” said chairman and chief researcher of the Hurun report, Rupert Hoogewerf, in a statement. 

“These unicorns, mostly in the new economy, are the fastest-growing companies with the most potential to grow big against a slowing economy.”

More at the South China Morning Post.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Working with Bloggers, Influencers and KOLs - Ashley Dudarenok

Ashley Dudarenok

Marketing guru Ashley Dudarenok co-authored with Lauren Hallanan her latest book, Digital China: Working with Bloggers, Influencers and KOLs, a hands-on introduction into the tricky e-commerce market in China for foreign companies, for one week available at Amazon for only US$0.99.

From Amazon:

Want to know more about influencer marketing in the world’s largest and fastest growing online market? This is the second book in our series guiding you through China’s digital space. China is one of the most attractive markets in the world and collaborating with bloggers, KOLs and influencers is essential if you want to find a place in the consumer’s heart. Don’t know where to start? This book will help newcomers and experienced marketers alike gain insight and take action. You’ll learn about:

• The Most Influential KOL Platforms and How They Work

• How to Find and Select the Right Influencer for You

• The Ins and Outs of Effective KOL Campaigns

• KOLs in action: Revealing Case Studies

 Ashley Dudarenok is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on e-commerce at the China Speakers Bureau? Do check out this list.

High-end Chinese travelers make new choices - Rupert Hoogewerf

Rupert Hoogewerf

Where do they go to, where do they stay. The travel industry is eagerly looking at the luxury traveler from China. The latest Hurun Chinese Luxury Traveller report shows some answers: they increasingly go for luxury homes instead of hotels, says Hurun chairman Rupert Hoogewerf to the South China Morning Post.

The South China Morning Post:

The study reached out to individuals who spend more than 350,000 yuan (a whopping US$50,250) annually on travel. 

When it comes to accommodation, traditional hotels are no longer the go-to choice, with nearly a quarter now turning to Airbnb-style holiday homes. 

“The performance of the high-end short-stay holiday home market has been weak. However, as travelling as a family grows in popularity, the market is likely to see significant development in the future,” said Rupert Hoogewerf, the Hurun Report chairman and chief researcher. 

Nearly half of the high-end travellers polled already have their own holiday homes, in Thailand (11 per cent) and Australia (10pc), followed by Switzerland and Japan (both 5pc). 

Domestically the southern resort of Sanya, dubbed the Hawaii of Asia, remains their first choice, accounting for 12 per cent, with sea views maybe unsurprisingly topping the requirement list of holiday homes. 

Polar exploration, the most popular travel theme last year, fell by 8.5 per cent and ranked second while parent-child travel enters the top three with 19 per cent. The interest in visiting islands and beaches, on the other hand, has reached it peak, with the selection rate dipping to 13 per cent this year.

More in the South China Morning Post.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on luxury consumers at the China Speakers Bureau? Do check out this list.  

China luxury consumers: it's complicated - Ashley Dudarenok

Ashley Dudarenok

The Euromonitor divided up China's luxury consumers into five categories, to make life easier for marketers selling to them. Marketing veteran Ashley Dudarenok, author of Unlocking the World's Largest E-market: A Guide To Selling on Chinese Social Media, applauds the effort, but thinks the market in China is more complicated than that, she tells in the Jing Daily.

The Jing Daily:

 “I think this is a really interesting way to look at Chinese consumers,” said founder at Chinese Marketing Agency ChoZan, Ashley Galina Dudarenok. “It definitely adds a bit more sexiness and a bit more color into the consumer profile. As soon as you hear the personality type, you instantly have a certain image in mind of what these people want, where they are, how they live, and so on.”... 

“China is a very complicated, very saturated, very non-homogeneous market,” said Dudarenok. “For example, Balanced Optimists (one of the categories) in Beijing or Fuzhou are completely different target groups. …This might work for some generalizations, but for many brands, it will remain challenging.”

The whole debate in the Jing Daily.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more marketing experts at the China Speakers Bureau? Do check out this list.

Mr. Trump cannot outsmart history - Jim Rogers

Jim Rogers

In the trade war between China and the US, president Trump tries to outsmart history, says investor Jim Rogers, author of A Gift to My Children: A Father's Lessons for Life and Investing. That is not going to work, and we will all suffer in the big melt up, he says.

Jim Rogers is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.  

Are you looking for more experts on the US-China trade war? Do check out this list.

On the China market, the iPhone does not make a difference - Ben Cavender

Ben Cavender

Once Apple's iPhone was a much-wanted device for the picky Chinese consumers. But those glamorous days are over as domestic brands offer more than their US competitor, says branding analyst Ben Cavender to Patently Apple.

Patently Apple:

Ben Cavender, a senior analyst at Shanghai-based consultancy China Market Research Group, said the novelty of the iPhone attracted throngs of Chinese shoppers to Apple stores a decade ago, but many consumers in the country have since developed an affinity for local smartphone brands. 

Cavender added that "At that time, Apple was offering a product that was so much better and so different that it made sense for people to show up at the store to buy something. In 2018, it’s not clear what Apple is selling that’s dramatically different or better than anything else on the market."

More at Patently Apple.

Ben Cavender is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Renminbi: not yet close to US dollar as world currency - Wang Haiyan

China's Renminbi is not coming close to the US dollar as the world's reserve currency, says business analyst Wang Haiyan to Money Talks. Even though more trade is done in the Chinese currency, the US dollar is still dominant. China cannot expect export to save its economy but relies on domestic consumption. But that transition is not going overnight, Wang adds.

Wang Haiyan is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on the ongoing trade war between China and the US? Do check out this list. 

The US-China trade war: in for the long haul - Arthur Kroeber

Arthur Kroeber

The trade war between the US and China might only be starting, the fight is going to be one for the long haul, says economist Arthur Kroeber, author of China's Economy: What Everyone Needs to Know®, according to Dow Jones. “The U.S. and China are in for a long and acrimonious confrontation,” he says.

Dow Jones:

Officially, the U.S. is imposing tariffs on Chinese imports as a hard-nosed but hopefully temporary tactic to force China to treat U.S. companies and goods more fairly. Yet, Beijing has shown no sign of caving to U.S. demands that, in totality, entail a wholesale end of the industrial policy that has long guided Chinese economic development. Some suspect the U.S. goal isn’t a negotiated solution, but to disentangle the two economies permanently. 

“The U.S. and China are in for a long and acrimonious confrontation,” Arthur Kroeber of Gavekal Dragonomics, a China-based research firm, wrote last week. This isn’t driven by President Trump alone, he wrote, but “by a powerful coalition of security and economic officials who believe the U.S. is entering an existential conflict with China for global economic, technological and geopolitical dominance.”.. 

Mr. Trump is mainly motivated by the U.S. trade deficit with China. Tariffs aren’t likely to fix the imbalance: If a company shifts production from China to Vietnam to avoid U.S. tariffs, America’s trade deficit with Vietnam will go up while its deficit with China goes down. But China critics who don’t share Mr. Trump’s deficit obsession see a different benefit. 

Tariffs and other penalties, such as forthcoming restrictions on the export of key technologies, weaken China’s appeal as a destination for foreign investment and start to unravel the supply chains that tie the U.S. to China. The longer tariffs remain in place, the more multinationals that want to sell to the U.S. will seek alternatives to China to source production. Taiwan and Thailand are already marketing themselves as alternatives. 

Yet, moving a supply chain out of China is harder than it sounds. Mr. Kroeber notes in an interview that China doesn’t offer just low labor costs, it also has well-developed infrastructure and logistics, skilled labor such as engineers, and access to China’s own huge internal market. “That can’t be matched somewhere else.” Multinationals may need two supply chains: one with access to the U.S., and one with access to China. They would then have to decide whether their U.S.-centric or China-centric supply chain serves the rest of the world. 

In the short run, China would clearly be the loser: It still depends heavily on the U.S. for intellectual property, know-how and investment, and as a market for exports.

More in Dow Jones.

Arthur Kroeber is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form. 

Are you looking for more experts on the trade war between the US and China? Do check out this list.

Why I sold my US stocks for Chinese equity - Jim Rogers

Jim Rogers

Renowned investor Jim Rogers, author of Street Smarts: Adventures on the Road and in the Markets sold his US stocks and changed them for Chinese equities, he told at Yicai Global. For him, the Belt and Road initiative fits into his optimistic view on China' economy, he adds.

Yicai Global:

China’s market has been bottoming out, while US shares have reached a record high, Rogers said at a recent investment forum in Beijing, according to a report in China Business Journal. The billionaire investor buys on the dip, he added. 

This is not the first time that Rogers has bought into a market trough. He invested in a large number of Austrian securities in 1984 when the country’s bourse was reaching its lowest point. The market sprang back to life a year later, surging 145 percent and handing Rogers a tidy return. 

The 76-year-old, who co-founded the Quantum Fund with George Soros in 1970, has a reputation for being a visionary international investor and one of US’ most successful securities brokers. 

The Belt and Road initiative is another source of his confidence in the Chinese market. The project will be vital to anyone who wants to make money, Rogers said, adding that he will closely monitor it for business and investment opportunities.

More at Yicai Global.

Jim Rogers is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Why "House of Cards" got a massive following in China - Tom Doctoroff

Tom Doctoroff

"House of Cards" might be a cynical parody on US politics, millions of Chinese also enjoyed the Netflix production and hade it a huge impact in China. Cultural expert and China expert Tom Doctoroff, author of What Chinese Want: Culture, Communism, and China's Modern Consumer, explains to the Washington Post why. "It essentially confirmed that our government is not so different than theirs."

The Washington Post:

For international viewers under unfriendly regimes, this well-produced caricature of Washington proffers an unspoken truth about the duplicity of American power. And their governments have been all too happy to have their citizens believe that these dark shenanigans are realistic. 

Since its debut, the show has reached millions of viewers in China, as well as top leaders of the Communist Party. Netflix isn’t available in China (and it doesn’t release any data about viewership), but “House of Cards” has received millions of downloads through pirated torrents and third-party streaming websites like SohuTV, which secured the rights from Netflix for the show’s early seasons. Sohu ranked the second season, which features a Chinese oligarch trying to influence a U.S. election and a trade war between Beijing and Washington, as the most popular American show on its site after its 2014 release. According to the site, the first season received 24.5 million views in China, with the largest portion coming from residents of Beijing and government employees. 

“ ‘House of Cards’ had a huge impact in China,” said Tom Doctoroff, the chief cultural insights officer at Prophet, a brand and marketing consultancy, and an expert on the Chinese market, “because it essentially confirmed that our government is not so different than theirs. People took a great deal of satisfaction and maybe a little schadenfreude in that.” 

The show also portrayed Beijing as the United States’ adversarial equal while reaffirming Chinese propaganda about American double talk on democracy and human rights. President Xi Jinping famously referenced the show during a visit to the United States in 2015. Cui Tiankai, China’s ambassador to Washington, said in 2014 that “House of Cards” embodied “some of the characteristics and corruption that is present in American politics ” and that it highlighted the disadvantages of bipartisan politics.

More in the Washington Post.

Tom Doctoroff is a speaker on the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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This trade war is insane - Jim Rogers

Jim Rogers

China is not going to bend over for Donald Trump, they have nobody to answer to but themselves, says Asia investor Jim Rogers, author of Street Smarts: Adventures on the Road and in the Markets. "This trade war is insane to start with," he adds.

Jim Rogers is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Explaining Alibaba's Single's Day - Ashley Dudarenok

Ashley Dudarenok

11.11 is Alibaba's Single's Day, an annual online shopping festival and marketing expert Ashley Dudarenok explains where it is coming from. Last year Alibaba had a turnover of US$25 billion, while competitor JD claimed US$19 billion for the 11-day festival. Ashey on the power of data.


Ashley Dudarenok is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more marketing experts at the China Speakers Bureau? Do check out this list.

How long format videos become popular in China - Ashley Dudarenok

Ashley Dudarenok

Short entertaining videos of 15-30 seconds were hot in China a few years ago, but the internet population is moving to a long format, that is three minutes, says vlogger and marketeer Ashley Dudarenok on her vlog. Viewers really want to be part of your life, she says.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more marketing experts at the China Speakers Bureau? Do check out this list.

NAFTA's 2.0 China poison pill will not work - Harry Broadman

Harry Broadman

Former NAFTA negotiator Harry Broadman predicts in Forbes the new trade agreement between the US, Canada and Mexico might not work in the way president Donald Trump wants it to.

Harry Broadman:

The victory proclaimed by the Trump Administration for its renegotiation of a “modernized” North American Free Trade Agreement (NAFTA) is a hollow one. 

 Despite many months of wrangling with our closest neighbors to the North and South of us—our second and third largest trading partners—in fact, few substantive changes have been introduced to the 1994 pact. But that hasn’t stopped the White House from touting the deal. Why?  Because Mr. Trump and his trade team see NAFTA 2.0 as the model to tame nations outside our hemisphere—especially the use of it as the vehicle to proliferate a poison pill lying at the heart of the agreement the U.S. wants to be deployed to corner China and clip its wings from engaging in pernicious trade practices. 

But there are two fundamental barriers to this scenario playing out.  First, Washington will find it tough going to sell this framework to countries with whom there isn’t a pre-existing agreement similar to NAFTA to be amended.  Second, as a practical matter, the U.S.-inserted Chinese poison pill will turn out to be of little therapeutic value, not only for changing Beijing’s conduct but also for inducing other countries to actually exercise this provision. 

Following the announcement on September 30, 2018 concluding the negotiation of the new “United States Mexico Canada Agreement” (USMCA), initially the press focused on the most apparent accomplishment to come out from tension-filled trade talks: the seemingly innocuous re-branding of the original NAFTA. ( whose name I will admit to having fondness for, in part since I was a member of the early 1990s NAFTA negotiation team). 

Perhaps it’s a bit unfair to blame the press for its undue attention to the change in name, which quickly proved to be an awkward choice.  After all, even the President’s top economic advisor, Larry Kudlow, had trouble pronouncing the new moniker the day of the announcement. 

But what didn’t fully sink into the press was the substantive import of the dropping of the words “Free Trade” from the new deal. The change is no accident.

More in Forbes.

Harry Broadman is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on the US-China trade war? Do check out this list.  

Why women are high on China's rich list - Rupert Hoogewerf

Rupert Hoogewerf

Women might be scarce at China's political platforms, but on the China rich list, they are doing very well, says Hurun China Rich List publisher Rupert Hoogewerf tells the China Daily. "China accounts for 60 percent of the world's most successful female entrepreneurs, while Chinese women make up one-fifth of the world's female population," he says.

The China Daily:

With 150 billion yuan ($21.7 billion) in wealth, Yang (Huiyan) tops the list, followed by Wu Yajun (58.5 billion yuan), chairwoman of Longfor Properties and Chen Li Hua (50.5 billion yuan), chairwoman of Fu Wah International Group. 

The list calculates the personal wealth, not the family wealth, of women entrepreneurs. Most of the names on the list are from real estate and manufacturing. 

"China accounts for 60 percent of the world's most successful female entrepreneurs, while Chinese women make up one-fifth of the world's female population," said Rupert Hoogewerf, chairman and chief researcher at Hurun Report. "Reform and opening-up, as well as entrepreneurship of Chinese women, can be the reason behind this story," he added.

More at the China Daily.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request list.

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US companies not ready to leave China - Arthur Kroeber

Arthur Kroeber

One of the purposes of Trump's trade war is convincing US companies to leave China. But they are not yet ready to move, says economist Arthur Kroeber, author of China's Economy: What Everyone Needs to Know®, in the Channel News Asia. And when they move, they might before countries like Vietnam over the US, he adds.

Channels News Asia:

The trade hawks are cleverly using targeted tariffs to make it more difficult for companies to export from China.

(US Trade Representative)“Lighthizer wants US corporations to move into other locations,” says Arthur Kroeber, managing director of Gavekal Dragonomics. His Beijing-based research group has clients who are considering doing just that, though no one has yet pulled the trigger. 

“Vietnam is the obvious alternative but there are still too many potholes,” he says. Companies “don’t want to be the one to fill in the potholes. They want to wait for others to pioneer and then see if it makes sense to move.”

More at the Channel News Asia.

Arthur Kroeber is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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