Business

Exposing the Red Elites Behind ‘Chinese Uber’ Didi (Part 3)

Editor’s note: This article is part three of a three-part series. Part 1 looks at Beijing’s crackdown on Didi and introduces the company’s ties to the Chinese military and state-owned businesses. Part 2 looks further into Didi’s ties with China’s business elites, the Chinese military, and Lenovo Group. Chinese investment firm Boyu Capital and its late co-founder Ma Xuezheng have contributed to Didi’s success.

With 275 Party Branches, Internet Giant Tencent Works With CCP Internet Inspectors

Chinese internet giant Tencent, one of the world’s top 10 companies by market capitalization, has fully integrated itself with the Chinese Communist Party (CCP) by establishing 275 Party branches within it and cooperating with the Cyberspace Administration of China (CAC). Tencent, along with Chinese technology giant Alibaba, are among the top 10 companies with the

How COVID-19 Changed Singapore’s Property Market Dynamics

When Mr Malik Sani received the call from a buyer who was willing to purchase a three-room flat in Bedok at the price he advertised without any on-site viewing, he thought it was a prank. “Can you transfer the deposit to my seller and then I’ll proceed with the paperwork,” Mr Malik told the buyer.

Exposing the Red Elites Behind ‘Chinese Uber’ Didi (Part 2)

Editor’s note: This article is part two of a three-part series. Part 1 looks at Beijing’s crackdown on Didi and introduces the company’s ties to the Chinese military and state-owned businesses.  The front operation behind Didi Global Inc.’s monopoly is the family of Liu Chuanzhi, the founder of Lenovo Group, who has strong ties with the elite

Why Didi Defied Beijing and Listed in the US?

On June 30, Didi Chuxing listed on the New York Stock Exchange and raised US$4.4 billion. The following day, its valuation exceeded US$78 billion. Things went downhill fast. On July 2, the Cyberspace Administration of China (CAC) announced a cybersecurity review of the company. Two days later, Didi was removed from app stores, followed by

Xi Signals ‘Impossible’ for Tech Giants to Seek Overseas Listing, Says Expert

China’s homegrown tech giants could encounter major obstacles when listing abroad, as the Communist regime has stepped up efforts to control them, says a China expert. Li Hengqing, a scholar at the Washington Institute for Information and Strategy, said the regime’s proposed scrutiny of all offshore listings was aimed at stopping companies’ data, and more

The IMF’s Message to the World: We Are All China Now

Commentary The Chinese Communist Party’s (CCP’s) decision to ban bitcoin should have surprised absolutely no one. Imagine if turkeys ruled the world. Would anyone be surprised if they decided to ban Thanksgiving dinner? Of course not. As a decentralized, digital asset, Bitcoin posed a direct threat to Beijing’s own digital currency, the e-CNY. In reality, Bitcoin is much more than a

US Should Ban China’s Digital Yuan: Investment Manager Kyle Bass

The communist regime in China is going to use its new state-controlled digital currency as a Trojan horse to project its authoritarianism all over the world, warned hedge fund manager Kyle Bass, and it could become a “cancer” plaguing the United States if it is not banned, he said. “Imagine a currency that almost has

The CCP Is Still Fooling Around With Its Economic Lies

Commentary The Chinese Communist Party (CCP) has relied on a series of economic lies to sway many people’s perceptions of the current situation. In this article, we look at some of the biggest lies and present the true picture behind those lies. The First Economic Lie: Development Is the Absolute Principle In the past decades,

Chinese State Media Alone Claim France, Germany Support Unfreezing EU-China Investment Deal

Chinese leader Xi Jinping held a video summit on July 5 with German Chancellor Angela Merkel and French President Emanuel Macron. In their coverage of the event, Chinese official media claimed that both French and German leaders expressed support for unfreezing the EU-China Investment Agreement as soon as possible. However, there is no mention of such support in

US Investors Ambushed by Beijing After Didi IPO

WASHINGTON—American investors were steamrolled by Beijing again as the ride-hailing giant Didi Chuxing became the latest target of a clampdown by the communist regime just days after its debut on the New York Stock Exchange. A Chinese cybersecurity regulator on July 2 announced that it was conducting a review on Didi. The officials banned the ride-hailing platform from app stores, saying the

Fake Chips Flood China Market and Fill Overseas Supply Chains

Counterfeit products have been circulated in China’s electronics market for a long time. However, as the global chip shortage intensifies, a large amount of refurbished, substandard fake chips are flood the market, exposing major deficiencies in China’s quality control standards. China Economic Observer reported a chip agent revealed that to meet the growing demand, suppliers were no

China Courts US Consumers Through a Familiar Storefront in Amazon

News Analysis “Made in China” is a phrase all U.S. consumers are intimately familiar with. In past decades, that term referred to a major branded product sold at U.S. stores manufactured by factories located in China. For example, a Matchbox car bought from Toys ‘R Us and made in China by Mattel. Today, U.S. consumers

130 Countries Back Global Minimum Corporate Tax of 15 Percent, Despite Vocal Opposition

Officials from 130 countries on June 1 agreed to establish a new framework for international tax reform, the Organisation for Economic Cooperation and Development (OECD) announced. The two-pillar package would mean that multinational companies, including Big Tech, would be forced to pay a minimum 15 percent tax in each country they operate in, regardless of whether firms have a physical

US, Taiwan Revive Trade Talks Despite Objections From Beijing

WASHINGTON—The United States and Taiwan on June 29 resumed trade talks after five years, a move that has angered the communist regime in Beijing, which claims sovereignty over the liberal democratic island. Discussions reopened on the Trade and Investment Framework Agreement (TIFA), which was stalled in 2016. At the virtual meeting, U.S. and Taiwanese officials pledged to deepen

Is China’s Bitcoin Mining Ban a Benefit in Disguise?

Commentary Beijing’s broadening ban on cryptocurrency mining has—for now—crippled the industry and sent bitcoin prices collapsing. But as bitcoin miners move to other regions and countries, China’s recent action could usher a period of greater stability for the cryptocurrency. More diverse distribution of mining power and higher usage of renewable energy could also be in store. In

Global Food Prices Rise 40 Percent, China’s Surging Food Demand a Big Factor

Global food prices have risen for the twelfth month in a row, (39.7 percent in May from a year earlier), the highest since September 2011, according to the latest figures from the UN Food and Agriculture Organization (FAO). There are concerns that China, the world’s largest food importer, will face a food crisis. According to a report released

‘Nike Is a Brand That Is of China and for China’ Says the Company’s CEO

The CEO of Nike said that the corporation is a “brand of China” earlier this week, amid recent allegations of the company being implicated with human rights violations conducted by the Chinese Communist Party (CCP). John Donahoe, the new Nike CEO, while speaking to Wall Street analysts, said that “Nike is a brand that is of

China’s ‘Nuclear Power Dream’ Needs Urgent Global Attention, Expert Says

Although the Chinese authorities recently denied leaks at a nuclear power plant, China’s ambitious “nuclear power dream” needs urgent global attention, according to Chinese scholar and energy expert Nieh Sen. The Chinese regime continues to ignore safety issues while it fulfills its dream in becoming the top nuclear energy producer in the world, he warned. On

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