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Shirley Ze Yu Profile
Shirley Ze Yu

@shirleyzeyu

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Political economist & professor on China's modern economy & techno-geopolitics. A privilege to work @Harvard @LSE @IEBiz . Words in @FT @WSJ ; On global TV; Mom.

Joined November 2016
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@shirleyzeyu
Shirley Ze Yu
2 years
China may offer #CIPS , its alternative clearance system to #SWIFT , to Russia, with transactions cleared in the RMB. In the short term, removal from #SWIFT is powerful. Over the long term, it promotes alternative global currency order, to the detriment of the Dollar.
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@shirleyzeyu
Shirley Ze Yu
3 years
Huawei new #EV booked 3,000 orders in 2 days. It says it invests in autonomous driving technology that surpasses #Tesla ’s.
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@shirleyzeyu
Shirley Ze Yu
5 years
Zuckerberg on #China : 1. A present danger: 6 of top 10 #internet platforms are Chinese. 2. A clash of internet values: #Tiktok exports a vision of the internet underpinned by Chinese values; 3. To defend #Libra is to defend #US financial dominance.
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@shirleyzeyu
Shirley Ze Yu
3 years
China plans permanent human presence on the Moon by 2036-2045. New territorial frontier is officially extended to the Moon, by the US, China, and Russia, lawlessly. Echoing the 17-19th century?
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@shirleyzeyu
Shirley Ze Yu
4 years
#Alibaba ’s neobank #MyBank lent to 10 million rural farmers in 4 years. Remember this 3-1-0 model: 3 minutes to apply and reach a loan decision; 1 second to release the loan; 0 human intervention. #fintech #China
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@shirleyzeyu
Shirley Ze Yu
4 years
#China has 830M internet users, 99% via mobile phones by June 2019. 1.1Billion use #WECHAT vs 2.9million use #Facebook (over the firewall). 61% buys on Tmall, #Alibaba 87.7% use #Baidu , versus 3% via - #google 49% of order food delivery on app. #Digital #5G
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@shirleyzeyu
Shirley Ze Yu
4 years
JUST IN: #China will cancel the debt of relevant #African countries in the form of interest-free government loans that are due to mature by the end of 2020. Now, here is real economic leadership by China!
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@shirleyzeyu
Shirley Ze Yu
3 years
This is how global supply chain looked in 2019. Japan does have a concentric role in the global supply chain, but on a smaller scale, which is not shown on the chart. #Germany and #China sat at the core of the global supply chains.
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@shirleyzeyu
Shirley Ze Yu
5 years
If there weren’t the Great Recession, there wouldn’t have been the great economic divergence between the East and the West. History may have been rewritten. Greedy Wall Street should be accountable for many global issues today.
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@shirleyzeyu
Shirley Ze Yu
3 years
I had the great privilege to deliver my first lecture as a foreign faculty professor at the prestigious @NDU_EDU , on China’s Global Quest in the Xi Jinping Era. I thank Dean Abid Ali & leadership of the NDU. I am deeply impressed about the academic rigor and policy independence.
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@shirleyzeyu
Shirley Ze Yu
4 years
China's GDP will surpass the GDP of the #EU (27 members combined) in 2020, with a near certainty now. If China's GDP grows at 2% and EU contracts by 7% in 2020, this would take China's GDP to $14.7T, and the EU GDP to $14.4T(exchange rate constant). An inflection point.
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@shirleyzeyu
Shirley Ze Yu
4 years
World, take a look at this aerial film release of a 1,000 beds hospital to quarantine #WuhanCoronovirus patients, which started construction on Chinese New Year’s eve, to be completed in 6 DAYs! Only #China can do this! No other country can!
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@shirleyzeyu
Shirley Ze Yu
3 years
A clear...how shall I call it...ultimatum!
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@shirleyzeyu
Shirley Ze Yu
3 years
The first 21 years of the 21st century started with China’s accession to the WTO, the beginning of China’s meteoric rise. It ended with China’s pronouncement that it is on equal footing with the world(US). Now it's about winning the 21st century. View
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@shirleyzeyu
Shirley Ze Yu
5 years
Henry Kissinger warned #China #US conflict could be a lot worse than the Cold War, if allowed to fester. He warned how the world sleep walked into World War I. ⁦ @neweconforum
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@shirleyzeyu
Shirley Ze Yu
4 years
#China encourages private companies and state companies to invest in a mixed-ownership structure. Mixed ownership is neither private nor state-owned. #Tencent invests in China Unicom. #Geeky invests in China Railway. Do we call the new companies state owned or private?
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Shirley Ze Yu
4 years
96% of urban Chinese own their own properties, according to PBoC, vs. 60% of Americans.
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Shirley Ze Yu
3 years
PE ratio at the Hong Kong stock exchange surpassed the Shanghai stock exchange in 2020.
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Shirley Ze Yu
4 years
In addition to Microsoft’s efforts to acquire a portion of Bytedance #TikTok , surely the Chinese state is going after Zhang Yining to acquire a portion of #Bytedance as well.
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@shirleyzeyu
Shirley Ze Yu
2 years
China produced 2.45 million and sold 2.42 million automobiles in July, nearing the highest figures on record. Germany produced 264,000 and sold 206,000 in July, 10% of China's. Global auto manufacturing center has solidly shifted to China.
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@shirleyzeyu
Shirley Ze Yu
3 years
China's export and import by lateral comparison. Interestingly, the US, Germany, and China are not only the world's largest exporters, importers, but the centers of global production. Small regional economies show tendencies to cluster into their industrial value chains.
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@shirleyzeyu
Shirley Ze Yu
4 years
70% of products manufactured by foreign companies in China is sold for the Chinese market. 30% is for export. If foreign companies decide to leave China, they are leaving 70% of their revenue source behind. Huang Qifan, leading state policy maker on #China ’s economic cards.
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@shirleyzeyu
Shirley Ze Yu
4 years
#China ’s top 50 global brands 2019, ranked by global equity analytic firm BrandZ. Top 5 are @Huawei , @Lenovo , @AlibabaGroup , @Xiaomi , @BytedanceTalk All 5 are in technology.
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Shirley Ze Yu
2 years
Not in Zhengzhou, but Shenzhen. Depositors protest in front of the Minsheng Bank in Shenzhen, asking for their savings.
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@shirleyzeyu
Shirley Ze Yu
4 years
#China 's per capita GDP passes $10,000 in 2019. The major milestone comes with the worry of middle income trap. Countries trapped after hitting $10K #GDP per capita: #Malaysia in 2011. #Turkey in 2008. #Brazil in 2010. All three countries are still lingering at those levels.
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@shirleyzeyu
Shirley Ze Yu
3 years
A Chinese colleague told me the US’s foreign policy seeks China’s submission. I find the view contextual in culture. For hierarchies/autocracies, the ultimate goal is submission. When the US went to Iraq, it did not seek submission. It sought victory. Submission is unAmerican.
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@shirleyzeyu
Shirley Ze Yu
3 years
Auto-generated both EN and CHN captions for a 10-min video in <5 minutes, with ~85% accuracy. All costs <$1. Because the #AI service is so efficient, more people will use it, making AI smarter much faster. Not doing a commercial. I am scared of how quickly this is happening.
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Shirley Ze Yu
4 years
Day 4 aerial view of the first 1,000 bed #CoronaVirus hospital under construction in #Wuhan , for all who are keen on progress. #China
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@shirleyzeyu
Shirley Ze Yu
3 years
Contributing shares to the UN regular budget. China went from a 1% to 12% contributor over 20 years. Japan shrank share contribution the most. US has been responsible, despite complaints.
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@shirleyzeyu
Shirley Ze Yu
4 years
Of the 7.2 million electric cars on the roads globally in 2019, 47% were in China.
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@shirleyzeyu
Shirley Ze Yu
10 months
Wang Yi raised the new “ 4 No’s” in US-China relations. The US shall not interfere with Chinese domestic politics; shall not harm Chinese sovereignty and territorial integrity; shall not suppress Chinese trade and technology; shall remove all illegal and baseless sanctions on
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Shirley Ze Yu
3 years
See the evolution of China’s concentric position in the global supply chain, and the countries most reliant on China in 2017. Further, watch how much Japan’s concentric position in the global supply chain shrank.
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@shirleyzeyu
Shirley Ze Yu
3 years
Global connectivity Index in @Huawei ’s annual report. Note White circle is China. China’s connectivity is much more advanced comparing to its GDP per capita(deep in red), but still in the middle tier in terms of global connectivity. Very interesting! #Huawei
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@shirleyzeyu
Shirley Ze Yu
4 years
Happy new year to my dear 14.7K followers. #China is the biggest change variable of the century, for better or worse. Thank you for trusting me! Let’s together shape 2020!
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Shirley Ze Yu
3 years
A @HarvardBiz research, showing China’s overwhelming volume superiority in global #AI scientific papers. Blue:China; Orange: the US
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@shirleyzeyu
Shirley Ze Yu
4 years
National Security Advisor O’Brien outlined the US executive actions in detail to confront China: 1) The US banned telecom operators, such as Huawei, from accessing personal and private data in the US, and also imposed restrictions on US technology from going into Huawei; 1/
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@shirleyzeyu
Shirley Ze Yu
3 years
World's most valued unicorn is China's @BytedanceTalk at $140B valuation. Followed by: Fintech Stripe (valued at $95B); Aerospace manufacturer SpaceX ($74B); China's ride-hailing company @DidiGlobal ($62B); Grocery delivery Instacart ($39B)
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@shirleyzeyu
Shirley Ze Yu
4 years
The average wealth of urban Chinese households is $449,200. Beijing ranks the highest in average household wealth, at $1.2Million, among all Chinese cities. #China
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@shirleyzeyu
Shirley Ze Yu
4 years
#TikTok is the perfect platform using China’s engineering feat to spread the American soft power, not China’s own soft power, all over the world. If you watch TikTok, you know it’s the American soft power. Interview with #Yahoo on launch of #HeyChina !
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@shirleyzeyu
Shirley Ze Yu
3 years
In a recent writing, I had to refer to China’s length of coastline. In Wikipedia, it says 14,000KM. In Chinese dictionary, it says 30,500 KM. Big difference for the obvious reason. I can imagine global academics will soon fall victim and be asked to correct research too.
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@shirleyzeyu
Shirley Ze Yu
3 years
It’s my honor to speak with Nobel Laureate, MIT Prof. Bengt Holmstrom. He is a world’s best mind on corporate governance. I look forward to exploring views on how to reconcile SOEs’ corporate governance structure, and the omnipotent role of the Party in business. On @HeyChina2
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@shirleyzeyu
Shirley Ze Yu
4 years
#China releases master plan for #Hainan Island, a southern Chinese island only 31 times the size of Hong Kong. Unveiled plans replicate many of #HK ’s current policies plus more. Hainan is set to unseat #HongKong as China’s global premier free trade export and transportation hub.
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Shirley Ze Yu
4 years
A 2-decade marriage comes to a stop. Jack Ma and Masayoshi Sun announced leaving each other's boards, at #Softbank and #Alibaba today. When Sun invested $20M in Alibaba, he wanted it to be the next yahoo!. He was partially right and wrong. His $100M is today $100B. #China
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Shirley Ze Yu
3 years
By 2025, 97% of large companies globally will adopt #AI . It’s urgent now to think what small companies globally are going to do to compete? Adopt AI even before 2025. Something learned from #Huawei ’s annual report.
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@shirleyzeyu
Shirley Ze Yu
4 years
Economy is not good? #US gives cash, and #China gives digital coupons. 4Billion RMB digital coupons are issued by local governments to stimulate consumption in catering, sports, tourism. Cash stimulus does not work for China, with a high savings culture.
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@shirleyzeyu
Shirley Ze Yu
5 years
#AI is very hard to put back in the bottle. Whoever has an open system will get ahead, says Bill Gates @neweconforum #China
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Shirley Ze Yu
4 years
Thoughts on implications of #CoronaVirus globally. 1. On Authoritarianism There is NO correlation between epidemic containment and authoritarianism. Iran is authoritarian, but absolutely fails at the task. We need effective governments, whether authoritarian or democratic.
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@shirleyzeyu
Shirley Ze Yu
3 years
Chinese companies are listing in the US at record rate in 2021. No one supports Chinese tech companies’ global rise more than American billionaires, and Wall Street financiers.
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@shirleyzeyu
Shirley Ze Yu
3 years
China’s industrial profit (Jan-April) has hit a high point since 2018, absorbing raw material price spikes. This means commodities’ price hike has already been passed to Chinese-made final products. Inflation will be spilled over globally now through China’s export.
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@shirleyzeyu
Shirley Ze Yu
4 years
From spokesman of #China ’s Ministry of Commerce: . Among 832 national poverty villages, online retail sales up by 13.3% in H1; . ASEAN is now China’s No. 1 trading partner.
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@shirleyzeyu
Shirley Ze Yu
4 years
The more #Trump pushes hard on #China , the more he is likely to garner Chinese American votes. Many of these are the economic “left behinds” by China’s rise, who have left too early, and not participated since. They wish Trump’s hardline will help reset the Chinese economy.
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Shirley Ze Yu
4 years
2020, #China will grow about 2%, #EU will contact about 7%,and #US will contract about 5%. Where else would Europe seek growth and market, but working with China? My take on #Bloomberg @business with @HaidiLun & @SheryAhnNews
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Shirley Ze Yu
4 years
#UK Prime Minister is hosting meeting to discuss #Huawei 5G. In global 5G, Huawei’s competitors are #Ericsson , #Nokia , #ZTE . None is American. The US has ZERO market share in 5G infrastructure, no matter who wins. How can the US miss such critical technology so completely?
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@shirleyzeyu
Shirley Ze Yu
2 years
China's fiscal revenue shortfall is estimated at ~$1Trillion. The fiscal drain directly affects China's ability to execute large infrastructure projects, the last-resort economic remedy. More gov't debt is demanded. The 33-stimulus measures spelled out y'day is not enough.
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@shirleyzeyu
Shirley Ze Yu
3 years
Outbound FDI in 2019. China's ODI began to shrink in 2016, following a market crash and “go global”restrictions. US's ODI fell below 0 in 2018, indicating Trump-era corporate on-shoring. ASEAN+3 invested overseas nearly =Japan+US+China in 2019. ASEAN is now a major investor.
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Shirley Ze Yu
3 years
Chinese IC industry aims to go beyond Moore’s Law, to catch up in the global chip race.
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Shirley Ze Yu
4 years
#China ’s second richest man, Colin Zheng Huang, founder of e-commerce platform #PDD , resigned from CEO post at 40. It takes great wisdom to be No 2, in business or among countries.
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@shirleyzeyu
Shirley Ze Yu
3 years
China asked Russia to expand its electricity export to China, according to Russian press. Pockets of Beijing will incur blackouts this holiday season. This wave of blackouts is largely driven by coal shortage.
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@shirleyzeyu
Shirley Ze Yu
3 years
Pleased to offer this new course at the @IEbusiness IMBA. China represents the single most important change variable to the global economy, along with the 4th industrial revolution. Now they’re compounded. Standing at global business frontier requires modern China literacy.
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@shirleyzeyu
Shirley Ze Yu
4 years
56M Chinese are locked down now in effective “quarantine” in their cities. More over the coming days cannot go back to work or home. Businesses and schools will effectively be shut down after the holiday. Major sacrifice by these people, and bravery! #China #coronoavirus
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@shirleyzeyu
Shirley Ze Yu
3 years
Huawei will debut its operating system, Harmony OS, in June. Harmony is forecast to be in 300M devices by the end of 2021, incld. 200M Huawei devices. Harmony will be in Huawei cars, and possibly turn all things in its ecosystem smart. The race is not over. It’s just on!
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@shirleyzeyu
Shirley Ze Yu
2 years
In this critical economic junction, the National Bureau of Statistics launched a special task force to investigate local governments’ GDP accounting fraud yesterday, echoing the suspicion over China’s economic performance.
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Shirley Ze Yu
5 years
“The (HK) fish tank is fine. We will just replace the bad fish with the good fish. “ #China encourages state-owned companies to invest more heavily in #HK . Over time, HK will resemble economic characteristics more like a modern Chinese metropolis, rather than a Western one.
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Shirley Ze Yu
3 years
Alibaba is fined for RMB 18.2Billion($3B)! There should be a big ticket waiting for Tencent soon!
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@shirleyzeyu
Shirley Ze Yu
4 years
#China will increasingly play a more active security role in the #MiddleEast . Since 2013, China has invested approx. $10B in #Iraq $13B in #Iran , with $400B promised in 2019; $120B in MENA region; $186B in Sub-Saharan Africa. Financial stake is too big to risk.
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@shirleyzeyu
Shirley Ze Yu
3 years
The GBA establishes its own university, focused on Science and innovation. The #GBA has 10 times the population of the San Francisco Bay area and nearly twice its GDP. #China
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@shirleyzeyu
Shirley Ze Yu
3 years
My take on #Ant with ⁦ @SPGlobal ⁩. "The restructuring, in a nutshell, means that Ant is now a financial company, not a technology company. Ant's push with corporate restructuring since 2017 to run itself as a technology company has failed."
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@shirleyzeyu
Shirley Ze Yu
4 years
China devises $7trillion infrastructure investments across 24 provinces as of March 24. This is 10 times bigger than the monetary stimulus China pumped in 2008, of course unleashed over 5-10 years. The plan is massive. It requires 70% to be financed by non-public sectors.
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Shirley Ze Yu
3 years
@MSCI_Inc launched 20 thematic indices to capture China’s megatrends.  These include disruptive technology index, future mobility index, robotics index, digital economy index, autonomous technology. Index...millennials, and aging society indexes. Crystal clear!
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@shirleyzeyu
Shirley Ze Yu
3 years
A glimpse of China’s income disparity from the national Statistical yearbook. In sum: 90% of Chinese earned <RMB 5,000 (US$767) a month. 62% earned <RMB 2,000 (US$307) a month. Only 71 million people earned >RMB 10,000 (US$1,534) a month.
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Shirley Ze Yu
3 years
China's total newly contracted projects with #BRI countries hit c. US$31 billion, with a turnover of c. US$17 billion in the first quarter, up 19.4% and 12.4% respectively. At this speed, China will be signing >$120Billion across the BRI in 2021.
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Shirley Ze Yu
3 years
China’s wealth management market stood at c. $18 trillion in 2020, following growth by 10 folds over the past decade. It’s set to double before 2025, implying an incremental creation of $20 trillion market in 5 years.
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Shirley Ze Yu
3 years
#HSBC pivots to China's wealth management market. The fastest-growing wealth management services arise from Chinese banks and trusts. HSBC, without a substantial commercial base, will find it hard to compete. Interview at @SPGlobal
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Shirley Ze Yu
4 years
#China singularly stepped up and cancelled zero interest debt repayments by Africa due before the end of 2020. No other country has done similar. Cancellation could potentially be up to a few billion. This alone is exemplary. My take @LSEpublicevents on #Africa debt relief.
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@shirleyzeyu
Shirley Ze Yu
4 years
#Tencent is an investor in #Tesla , #Reddit Inc, #Epic Games, #Snap Inc... a trasnaaction ban with Tencent would potentially imply these US companies will need to sever “financial” relationships with Tencent. The world is waiting for some interpretations of the executive order.
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Shirley Ze Yu
3 years
China will subject its world views to the world, just as the West subjects its. There’s no use keeping a world view to oneself. Mutual subjectivity won’t narrow divergence. It sets up a battle for civilizational supremacy & owning the history. #SCMP
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Shirley Ze Yu
3 years
Chinese RMB is already used to price Iran’s oil trade. It is the largest component of Iran’s foreign currency reserve. News from China rumors the transitory new currency Toman will be pegged to the RMB. Petro-RMB already begins to form.
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@shirleyzeyu
Shirley Ze Yu
5 years
On @bbc5live Wake Up to Money to discuss Jingye’s acquisition of British Steel. China’s deal offer is winning the populist voter base in the #UK , the hearts of the British people. Very smart move! #BritishSteel @TeleComment @guardianopinion
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Shirley Ze Yu
3 years
#EU imports more from China than any other country, including the US. China is only the EU’s third largest export market. EU runs a €181 Billion deficit with China.
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Shirley Ze Yu
4 years
So far some #NATO countries on #Huawei : Yes: France, Portugal, Turkey No: US, Spain, Poland Maybe: UK, Canada Yes-to-no: Germany, Italy
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Shirley Ze Yu
3 years
China invested US$7.7 billion in The US in the first 3 quarters of 2020, concentrated in entertainment, health and biotech, and natural resources. It was Europe, not the US, that suffered the most from loss of Chinese investments, consistently from 2017 through 2020.
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Shirley Ze Yu
4 years
China is to be well prepared for a “contingency plan”, for 2020, from China’s Central Economic Work Conference. This contingency plan would be a plan of “decoupling” from the #US . The contingency plan is not to change #China ’s economic principles.
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@shirleyzeyu
Shirley Ze Yu
4 years
Day 5 construction of #Wuhan #caronavirus 1,000 bed hospital. 2-story structure nearly complete. There is no other country who can do this. I repeat! There is also no #China economic miracle. The miracle is but its billion hard working people.
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Shirley Ze Yu
4 years
My interview with the world’s oldest newspaper @Weekendavisen , by Peter Harmsen. #HongKong must be part of a large South #China economic space, an 11-city cluster. It has to be some kind of Asian Silicon Valley, just bigger. @LSEIGA
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Shirley Ze Yu
3 months
When will Germany overtake China as the second-largest economy? Don’t think in my lifetime. When will India replace Germany as the third-largest economy? Should be less than 5 years. India is every bit as authoritarian, protectionist, and oblivious to minority rights as
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Shirley Ze Yu
3 years
China is quickly ramping up R&D. The pattern of tech investment mirrors the GDP pattern. China's R&D investment has surpassed the EU-28 ( #EU & #UK ) combined since 2016. Japan's big problem is not that it's gotten old. It's that as it gets old, it stopped innovating.
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Shirley Ze Yu
1 year
Escalating anti-espionage law, raiding Bain Capital’s Shanghai office, arresting Dong Yuyu, suspending foreigners’ Wind data access, and expanding the border control list, China is doubling down on eradicating foreign influences. I am aghast at how quickly things have
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Shirley Ze Yu
4 years
UK proposed new grouping of D10 (Democracy10). #D10 includes #G7 +India+ #Australia +S.Korea. D10 together take up about 53% of global GDP. #China today is about 17% of global GDP.
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@shirleyzeyu
Shirley Ze Yu
4 years
To be sure, China needs to allow the yuan to float more freely. The digital yuan won't be a standalone entity. The DCEP cannot become a global center currency, unless the yuan itself becomes one. Interview with ⁦ @SPGlobalRatings ⁩ ⁦ @HarvardAsh
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Shirley Ze Yu
4 years
Rumor says #Microsoft may be negotiating an asset swap deal with #Bytedance . What could it use to swap TikTok? Yes, there is one. LinkedIn China! LinkedIn is the only US social media legally allowed in China. #China may force Microsoft to sell it.
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Shirley Ze Yu
5 years
If this #Melania photo dominated #G7Biarritz media blitz, wouldn’t you agree #G7 has become a complete joke?
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Shirley Ze Yu
3 years
My presentation at the Annual Investment Meeting hosted by #UAE Ministry of the Economy, on China's investment in Africa. Three themes were explored. 1. China's #FDI in #Africa . 2. Digital transformation in Africa. 3. China's lending to Africa.
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@shirleyzeyu
Shirley Ze Yu
3 years
Chinese troops will receive a 40% pay raise in the 2nd half of the year, with border forces receiving a higher rate.
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@shirleyzeyu
Shirley Ze Yu
3 years
China trained 200,000 foreign officials( and personnel) between 2013-2020. How these countries think are shaped by how their politicians are educated.
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@shirleyzeyu
Shirley Ze Yu
4 years
The $100 billion man Bernard Arnault just adds #Tiffany to his shopping bag this Thanksgiving. #LVMH ’s big bet is not Tiffany, but #Tiffany in #China .
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@shirleyzeyu
Shirley Ze Yu
4 years
Hardly can one consider 52.6% inflation to be good news, but it is. ,China’s pork price went up by 52.6% in August, coming down by 1/3 from 85.7% in July. It pulled inflation down to 2.4%.
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@shirleyzeyu
Shirley Ze Yu
3 years
Some of China’s large wind energy investments globally: 1. China Energy Investment Corporation, the world’s largest wind energy company, invested in #Greece . 2. A consortium led by the state-owned China Resources purchased 30% of the Dudgeon Point wind farm in the #UK .
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