The son of Hong Kong immigrants, Andy Mok left New York to find China on the cusp of a tech boom. To help fill the entrepreneurship knowledge gap, he started Beijing Tech Hive, the first weekend startup bootcamp in China.
After President Trump withdrew the U.S. from the Trans-Pacific Partnership (TPP), the remaining 11 countries negotiated a new trade deal, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which was signed in March 2018. At the same time, China was negotiating its own trade deal, the Regional Comprehensive Economic Partnership (RCEP), whose 15 countries would account for 30% of the world’s population and GDP if it is ratified.
Since then Chinese President Jiang Zemin visited Latin America in 2001, China has become more engaged in the region. Chinese investment and loans to Latin America have declined in the last few years, but the region remains important to China as a market for goods and a source of essential energy and products.
Although WeChat is the most popular part of the Tencent empire and is deeply embedded in the everyday lives of Chinese, it doesn’t generate most of the company’s revenues. This week we look at Tencent and how it generated US$54 billion in revenue last year.
President Trump is worried that user data from the 45.4 million Americans on TikTok, owned by Chinese company ByteDance, could be handed over to the Chinese government and set a September 15th deadline for the app to be sold to a U.S. company or risk being banned.
Gold is an ancient store of value. Bitcoin and other cryptocurrencies are recent inventions. Price swings for both can be dramatic. Gold has almost reached its 2011 peak. Bitcoin has climbed rapidly, but is still only a bit more than half the price it was in December 2017.
Early on, the Trump administration identified access to American universities as helping China advance. The administration has been pushing back against this in several ways, including the Department of Justice’s China Initiative which has American academics among its targets. Now students from China are under greater scrutiny.