The US congressional delegation’s itinerary includes stops in South Korea and Japan, but no official mention has been made of a visit to Taiwan. However, the Taiwanese official said that Nancy Pelosi is expected to stay in Taiwan overnight. It is unclear when exactly Pelosi will land in Taipei.
China warned against the “egregious political impact” of Pelosi’s planned visit to the self-governing island that China claims as a part of its territory and reiterated that its military “won’t sit by idly” if Beijing feels its “sovereignty and territorial integrity” is being threatened.
Last week, US House of Representative Speaker Nancy Pelosi would like to have a Taiwan visit to show support for Taiwan. China immediately gives a warning against a potential high-stakes trip and vowed to take “resolute and forceful measures” of the trip goes ahead.
However, Chinese government has not specified in public what “forceful measures” it is planning to take. Some Chinese experts say Beijing’s reaction could involve a military component and the situation between China and the US will be very tense.
Pelosi’s potential trip wouldn’t be the first time a sitting US House speaker has visited Taiwan. In 1997, Newt Gingrich met Taiwan first democratically elected President Lee Teng-hui. At that time, China’s response was limited to rhetoric. Twenty-five years on, it is a completely different regime in Beijing with Chinese leader Xi Jinping. China is stronger, more powerful, and confident, and its leader XI, Jinping has made it clear that Beijing will no longer tolerate any perceived slights or challenge to its interests. China is in a position to be more assertive, to impose costs and consequences to countries that don’t take China’s interest into consideration in their policy or actions.
Last Wednesday, US president Joe Biden told reporters the US military thinks a Taiwan visit by Pelosi is “not a good idea right now.”
On this Monday, Gingrich wrote on the social media about his comment on the potential visit and raise out the concern about political timidity.
The potential Taiwan visit by Pelosi would come at a sensitive time for China. The PLA is celebrating its founding anniversary on August 1, while Xi, the country’s most powerful leader in decades, is preparing to seek a third term at the ruling Communist Party this fall.
But with Pelosi’s potential visit is now playing out in public, any decision to delay or cancel, risks being seen as a concession.
“Fragmentation” – one the many buzzwords heard around Davos this week. “Fragmentation”, it is referring to a breakdown of the kind of free-wheeling, border-crossing trades and investments which have built the global economic order over the past three decades. It also means “deglobalization” – rebuilding fences between nations and nations.
Deglobalization won’t happen overnight but it is not a new issue. Supply-chain disruption, war in Ukraine, growing political divides and trade disputes are renewing concerns about a return of an era of isolation.
Here are the micro-deglobalization playing out in real time:
China’s ride-hailing giant Didi officially delisted its share from NYSE
Starbucks and McDonald’s pulled out of Russian market
Airbnb said it would pull all of it listings in China
Malaysia moved to restrict exports of Chicken to its neighbors
Microsoft slowly scale back their China practice
These supply chains have been built over 30 years, so it’s just really difficult to move them into another country. The US baby formular shortage is a huge public health crisis that indicates the peril of relying too much on domestic production for essential goods. It is far more complicated if governments around the world are doing deglobalization.
China may become the World’s second-largest economy behind the US.
One of the China’s biggest insurers, Ping An Insurance (Group) Co. is the second largest shareholder of HSBC Holdings PLC. Ping An said that the investment won’t influence how the U.K. based bank is run.
One of the largest movie theater chain around the world was bought by Dalian Wanda Group which runs by Chinese business Wan Jianlin for USD 2.6 billion.
A well-known iconic company in US was partly owned by a Chinese Company, Qingdao Haier. And the acquisition deal was USD 5.4 Billion.
One of the early leader in telecommunications space previously now was owned by one of the famous Chinese enterprise, Lenova. This makes Lenevo become the world’s third-largest smartphone maker around the world.
Chinese investors are interested in Football as well. Chinese billionaire Tong Xia owned Aston Villa.
Chinese Investors and businessesmans own stakes in key infrastructure businesses in the UK such as Heathrow Airport and UK power Networks. Chinese investors have also bought up stakes in Thames Water which is another key infrastructire firms in the UK.
Schools in the UK which owned by China–backed enterprises:
Bournemouth Collegiate School
St Michael’s School in Llanelli, Carmarthanshire
Bosworth Independent College in Northampton
Bedstone College in Shropshire
Ipswich High School
Kingsley School in Bideford, Devon,
Heathfield Knoll School
Thetford Grammar School in Norfolk
Wisbech Grammar in Cambridgeshire
Riddlesworth Hall Preparatory School in Norfolk
Adcote School for Girls near Shrewsbury, Shropshire
Myddelton College in Denbigh, Wales
CATS Colleges – Campuses are in London, Cambridge and Canterbury
Just after Didi raised its IPO which valued nearly USD 68 billion in US stock marking on June 30 2021, Chinese government and Chinese Regulators blocked Didi on Chinese App stores and Chinese Market. It made Didi Global Inc. plunged below IPO price.
Didi is a Chinese ride-hailing company in Chinese and bases in Beijing which provide Chinese customers with taxi hailing, private car hailing and social ride-sharing services. Didi currently has around 550 million users and around 10 millions of registered drives over 400 Chinese cities.
Some analysts believe the crackdown of Didi in its home country means that Chinese government wants more control on Chinese big data as well as a new battlegrounds of US-China trade wars.
Didi is now facing scrutiny over its data security by Chinese regulators. This cybersecurity probe by Chinese regulators also bring out a very strong message to other China’s tech giants: Do not even think about listing in stock market outside China and Hong Kong, especially in US stock market.
For those Tech Giants business owners in China, running the whole business not just needs to be given business consideration, but also a nation security consideration and patriotism consideration.