- Li Shufu’s plans for Volvo
- Rosa Luxemburg Foundation expects opposition over media study
- Sinolytics.Radar: Deviating standards lead to higher costs
- Citizens advised to hoard food
- Covid still pressures economy
- COP26: China backs away from methane pledge
- Reporters demand transparency ahead of Olympics
- Real estate crisis bankrupts Hebei FC
- Profile: Badiucao – critical cartoonist
It goes without saying that the Media has a substantial role in shaping the perception of the People’s Republic of China in Germany. But are they really the driving force behind critical portrayal? Or do they merely reflect sentiments from the social spectrum? And to what extent does the state-concerted discrediting of foreign media in China influence the perception of German journalism? Sadly, these questions remain unanswered by the study published by the Rosa Luxemburg Foundation, which accuses German newspapers of a “media-constructed enemy image of China.” Our analysis examines the study, its core statements, and some of its weak points.
Christiane Kuehl takes a look at new mobility concepts today. The occasion is the current IPO of Volvo. By using its parent company Geely as an example, she describes the transformation from a stuffy small car manufacturer into one of the most ambitious electric manufacturers in the world. Volvo as we know it will change dramatically because its Chinese owner has far-reaching plans for the brand.
The example shows that the rest of the world will have to get used to the fact that Chinese ideas and perceptions will drastically shape our future. Whether we like it or not. This makes it all the more important for the media to maintain a critical stance on current developments. Whether China’s players like it or not.
Have a pleasant day!
Marcel Grzanna
Feature
Volvo – an energized future
Things turned out well in the end. The shares of Swedish carmaker Volvo grew by about 22 percent on Friday at its stock market debut in Stockholm. That wasn’t necessarily certain after a few stumbling blocks paved the way to the stock exchange floor. Investors criticized that the share price was too high and that the Chinese parent company Geely had too much influence.
To avoid jeopardizing the initial listing, Geely had to agree to give up its expanded voting rights. These would have given the company of industrious car manager and Geely founder Li Shufu 98 percent of all shareholder votes. This is despite Geely’s shareholding falling to around 84 percent as a result of the IPO. Volvo also had to lower the issue price and thus the market capitalization and push the debut back by one day.
And yet, according to Reuters, it was enough to make it the largest new issue of the year in Europe. Volvo now wants to use the money primarily for the expansion of electromobility. From 2030, the Geely subsidiary wants to stop selling combustion engines vehicles. This conversion will be costly. But Volvo is at the forefront of Li’s plans to turn Geely into a modern automotive group – with electric cars, autonomous and intelligent vehicles, and entirely new mobility concepts.
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