“Forbes” magazine recently published an analysis report with the title “Decoupling from China is underway, there is no doubt about it”: “Data from China and around the world show that the United States, Europe and Japan have successfully diversified their purchases outside of China. New market will significantly reduce its trade relationship with China.”
U.S. Ambassador Burns. AP pictures
Data shows that China has lost its status as the largest exporter to the United States. “According to data from the General Administration of Customs in Beijing, from January to November 2023, China’s smartphone imports to the United States fell by about 10%, while imports of laptops from China fell by 30%. Imports of smartphones from India, and laptops Imports from Vietnam have increased fourfold.”
The Financial Times joined the discussion, stating that the honeymoon period between China and the West after joining the WTO has ended, and trade frictions have become increasingly acute. The article stated, “Beijing authorities use vague national security grounds to arrest foreign business people in China. Searches and interrogations of foreign consulting companies conducting due diligence in China also make due diligence difficult, because any information may be described by the authorities as involving national security or confidentiality. This makes it impossible for foreign investors to evaluate their own How risky is investing in China?” Note that the Financial Times did not ask how the West views China with suspicion. Its attitude is that others are thieves and they themselves are great benefactors.
Japan’s “Sankei Shimbun”, “Voice of America” and “Wall Street Journal” also launched a bombshell at the same time, citing the National People’s Congress Standing Committee’s adoption of the newly revised “Law on the Protection of State Secrets” as an excuse to determine that foreign businesses in China are facing greater challenges. High risk, the conclusion is that “the above factors not only lead to China’s current economic difficulties, but also lead to the economic decoupling of Western countries from China, because foreign investment in China mainly comes from Western countries.” It is obvious that using foreign capital to come to China threatens China. China’s security is undefended, but the West is increasingly wary of China.
Since then, China is the world’s largest trading country and the world’s largest industrial country. Who depends on whom? Please weigh it. Of course, there are people in the United States and the West who understand.
U.S. Ambassador Burns said that he has no intention of decoupling from China because of the dinner issue of 750,000 households in the country. He emphasized that China and the United States are not “divorcing.” However, such words are still misleading. Originally, the concept of the Guangdong-Hong Kong-Macao Greater Bay Area was bright, promoting the transformation and upgrading of China’s technological economy and conducive to global development. However, as Sino-US relations deteriorated and the United States imposed sanctions on China, foreign investors lacked confidence in investing in China, and the Greater Bay Area failed to take off as expected. If this is the case, Hong Kong’s investment concept will also be eclipsed. The direct impact will be that companies listed in Hong Kong are not as expected, and the biggest impact will be on the huge interest groups in the entire financial industry in Hong Kong.
During Xia Baolong’s visit to Hong Kong, we could hear and feel voices emphasizing the importance of “Hong Kong maintaining its international status.” It is not difficult to understand why. In order to save the Hong Kong stock market and property market, the relevant high-income groups do not support the hypocrisy of the United States. The behavior is not the spirit of Westerners. There is also a glimmer of hope that “the United States will change its mind” and reduce the pressure on Hong Kong. Everyone will invest. Isn’t it? The United States says there is no “divorce”.
Those people in Hong Kong who were deceived by the United States were very accurate. Since Hong Kong’s return to China, people with insight have understood that innovation and technology are the solution to avoid falling into the “international financial center trap”. Simply put, after Hong Kong’s return to China, the attitude of Western countries towards Hong Kong may change. Hong Kong’s “international financial center trap” The “financial center dividend” will one day disappear due to some force majeure factors.
It is so simple for Ren Zhengfei to run Huawei’s point-and-click system and engage in technology, but he has an early insight into the crisis, so he used the “spare tire” when life was best. It finally came into use in 2019, and Huawei survived 2022 and 2023. , today we have a broader living space.
There are some people in Hong Kong who hope that the United States will not “divorce” and they also advise Hong Kong people and Chinese people to try their best to accept the “domestic violence” inflicted by the United States. The reason is the same as the situation and mentality of the heroine in the Cantonese feature film – I have big things and small things, and I can’t get out. Yeah, I have the ability to be independent!
We understand that in addition to helping Hong Kong enterprises explore other business opportunities in different regions, the SAR government needs to educate these people in a serious way and use the professionalism and care of social workers to turn their minds into positive energy. If the mountains don’t change, people will change. To change people, you must first change your mind!
Huang Binghua
**Blog articles are written at your own responsibility and do not represent the position of our company**
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2024-03-01 06:22:44
