Page 18 - Wang Xing News Today

Behind China's triumphalist rhetoric lurks an inconvenient truth: China’s own society is fracturing in complex and challenging ways.

(Bloomberg) -- Beijing’s crackdown on its tech giants is fueling a noticeable phenomenon: it’s opened the spending floodgates.China’s largest internet corporations are digging deep into their pockets to open up new avenues of growth as Beijing curtails their most lucrative businesses from fintech to e-commerce. Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Meituan have all warned investors in recent weeks they’re prepared to open their coffers to expand in are...

Middle-East Arab News and Opinion - Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities

From Alibaba to Tencent, China’s tech giants are facing regulatory scrutiny and public backlash over unfair labor practices and obscene wealth.

Xi Jinping Stresses His Historical Preeminence in Preparation for the CCP Centenary May 17, 2021 03:03 PM Age: 4 hours Image: Chinese Communist Party General Secretary Xi Jinping (center) attended the Party History and Education Mobilization Conference in Beijing on February 20, where he delivered the opening speech to “teach the first lesson” (Source: Xinhua). Introduction The Chinese Communist Party (CCP) General Secretary Xi Jinping has taken multiple measures to consolidate his position...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

A thousand-year-old poem just cost Chinese delivery giant Meituan tens of billions of dollars in market value, further rattling a tech industry that is already on edge.

A 1,100-Year-Old Poem Cost Meituan’s Outspoken CEO Billions Bloomberg 3 hrs ago Coco Liu, Yoojung Lee and Ishika Mookerjee (Bloomberg) -- It took just 28 Chinese characters on an obscure social media platform to ignite a controversy that’s rattled the country’s tech industry. Popular Searches Meituan CEO Wang Xing lost $2.5 billion of his wealth over two days after he posted verses from a millennium-old poem about the misguided attempts of China’s first emperor to quas...

Delivery riders for Meituan, one of China’s biggest food delivery firms, chat while waiting for orders outside a restaurant in Beijing. Even before Wang’s post, state media had run regular exposes describing the plight of Meituan’s delivery drivers, helping stoke online outrage. — AFP It took just 28 Chinese characters on an obscure social media platform to ignite a controversy that’s rattled the country’s tech industry. Meituan CEO Wang Xing lost US$2.5bil (RM10.29bil) of his wealt...

China is growing fast — but the workforce powering its economic rise is shrinking.Census data released Tuesday showed that China's total population rose