Vladimir Putin and Xi Jinping entered the hall side by side at the dinner, as if Putin were the co-host of the Belt and Road Forum in Beijing. At the summit, the two presidents jointly courted the favor of Global South countries, offering their bloc as an alternative to a perceived US-led world order, as analyzed by Joern Petring.
However, the grandeur of the event could not mask the problems of the Belt and Road Initiative. The projects are extremely expensive, and in the economic crisis, China has no money to spare. Xi announced plans to be more selective in allocating funds. Beijing is becoming more frugal.
As for the Middle East conflict, neither Xi nor Putin commented. However, diplomats from both countries have already made their positions clear: China and Russia tend to place blame on the US and Israel for the catastrophe. Their sympathy leans towards Palestine. This is also the stance of the majority of BRICS countries, as analyzed by Frank Sieren. The BRICS have even found something like a common line on this issue.
Your Finn Mayer-Kuckuk
Feature
Xi and Putin court the Global South
Foreign policy highlight: President Xi Jinping receives guests from 140 countries.
The Presidents of China and Russia jointly courted the Global South at the Silk Road Forum in Beijing. Xi Jinping and Vladimir Putin used the grand stage to emphasize the achievements of the infrastructure initiative despite known criticisms of the project.
Xi began proceedings on Wednesday. In his opening speech for the forum in the Great Hall of the People, he not only praised China’s approach but also once again criticized the United States without mentioning it by name.
“When you give roses to others, their fragrance lingers on your hand,” Xi quoted a Chinese proverb. “Helping others is also helping oneself,” Xi continued. However, he added that “viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.” The Silk Road Initiative launched ten years ago is thus “the right side of history”.
Putin appeared like a co-host
Putin expressed similar sentiments. The Russian guest enjoyed special treatment in Beijing and, at times, appeared more like a co-host. Even at the festive dinner the evening before, Putin and Xi entered the hall side by side, ahead of all other guests. At the opening ceremony on Wednesday, Putin spoke as the second speaker. “Russia and China, like most countries in the world, share the aspiration for equal and mutually beneficial cooperation,” said the Russian President.
Noticeably, despite the current global situation, Xi and Putin strictly confined their speeches to economic topics. They did not mention the wars in Ukraine and the Middle East, although these regions are core areas of the Silk Road.
Instead, Xi and Putin allowed UN Secretary-General António Guterres to speak at the Silk Road Forum, where he had also traveled. In Beijing, he called for an immediate ceasefire in the Middle East. This is a position that China and Russia already support.
Presentation of an action plan
Xi not only looked back on ten years of the Silk Road but also discussed the project’s future. The main message: The Silk Road should not only connect through infrastructure. Green projects and digital connectivity will play a more central role in the future. Xi called for reaching “a new stage of high-quality development”. He summarized the goals in an eight-point action plan. Xi mentioned:
new logistics corridor across the Eurasian continent
establishment of pilot zones for Silk Road e-commerce cooperation, free trade agreements and investment protection treaties
financing commitment of 47.8 billion dollars by Chinese development banks
promoting green development
agreements on scientific development and artificial intelligence
more cultural exchange, including a tourism alliance
measures for more integrity and transparency in projects
strengthening the establishment of multilateral cooperation platforms, including the establishment of a secretariat for the Silk Road Forum
More plans for targeted investments
With this move, Beijing is following a path that had already been hinted at. Instead of building expensive mega-infrastructure projects relatively broadly, there will be more targeted investment in the future. The idea is not entirely new. The phrase “small is beautiful” has been appearing in Chinese state media in connection with the Silk Road Initiative for some time. This is a clear sign that the strategy has been adjusted.
China is dealing with economic problems at home and is not willing to overexert itself. In Africa alone, the average loan volume for the period 2020 to 2022 compared to 2017 to 2019 has decreased from 213 million to just over 135 million dollars, as calculated by the Global Development Policy Centre at Boston University. The number of new loans has dropped from 184 to 32 in the same observation period.
The Chinese leadership still sees the Silk Road as an integral part of its foreign policy. However, projects are likely to be chosen more selectively in the future.
While the West aligns with Israel, China openly criticizes Israeli actions. China’s Foreign Minister Wang Yi remarked that Israel’s actions have exceeded self-defense but made no mention of Hamas’s acts. He emphasized China’s opposition to actions that “harm civilians and condemned any violation of international law”.
Wang proposed that the fundamental solution lies in implementing the “two-state solution” and establishing an independent Palestinian state for the peaceful coexistence of Palestine and Israel, calling for an international peace conference.
BRICS positions on the conflict are relatively uniform
The EU currently struggles to find a unified voice on the conflict, but within the BRICS countries, there is substantial consensus. The BRICS countries are core members of the Belt and Road Initiative (BRI). Moscow’s position is clear. The other BRICS countries, besides China – Brazil, India, and South Africa – tend to position themselves similarly or even more in favor of the Palestinians. Criticism of Hamas is usually absent in their stances.
Despite being Israel’s most significant trade partner in Africa, South Africa aligns with the Palestinians more strongly than any other BRICS country, except for Russia. South African President Cyril Ramaphosa expresses “solidarity with the Palestinians” by wearing a Palestinian scarf and emphasized that the people in Palestine have been “under occupation for nearly 75 years”. Ramaphosa called on the international community to do everything “to restore peace”.
Brazil shows restraint
Brazilian President Luiz Inácio Lula da Silva is more reserved but still clearly differentiates from the Western position and aligns closely with Beijing. Brazil currently holds the chair of the UN Security Council. Lula stated that Hamas should release kidnapped Israeli children and urged Israel to “halt the bombardments”.
Meanwhile, Brazil’s Foreign Minister Mauro Vieira reacted with “shock” to Israel’s call for “over one million civilians in the northern Gaza Strip to evacuate within 24 hours”. President Lula called for an international humanitarian intervention and a ceasefire to “protect Israeli and Palestinian children”.
Prime Minister Narendra Modi, who currently holds the G20 presidency, has maintained good relations with both Israel and the Palestinians for some time. Modi emphasized that “the world now recognizes the enormity of the challenge of terrorism. Terrorism in any form is against humanity”. He stressed that it is “high time for peace and brotherhood”. Although he categorically labeled the Hamas attack on Israel as a “terrorist act”.
India names Hamas terror
Nevertheless, Adnan Abualhayjaa, Palestine’s Ambassador to India, emphasized that “India is equally respected in Israel and Palestine”. Shortly after Modi received his Israeli counterpart in Delhi in 2017, he became the first Indian Prime Minister to visit the West Bank. India is also the largest buyer of Israeli weapons, purchasing over a billion US dollars’ worth of military goods from Israel each year.
Looking at the new BRICS members, it is not surprising: From January 2024, Iran, Saudi Arabia and the United Arab Emirates will become part of the alliance. Their positions are likely to be clear.
Among the new BRICS members, it’s interesting to see how Egypt positions itself. Egyptian President Abdel Fattah El-Sisi initially expressed concern, not surprisingly, about Israel’s response. He said, “They are exaggerating the right to self-defense, and it is leading to collective punishment of 2.3 million Palestinians.”
No clear condemnation in the UN Security Council
He also made a clear condemnation of Hamas’s terrorist act: “We unequivocally condemn it.” However, he added that this is the result “of accumulated anger and hatred over four decades in which the Palestinians had no hope for a solution.”
The positions of the BRICS countries have led to a lack of majority support for the unilateral condemnation of Hamas during the urgent UN Security Council session last Sunday. The US, in vain, called for the international community to “strongly condemn this unprovoked invasion and the terrorist attacks and activities that have occurred and are still occurring”.
It is becoming evident that, as in the case of the Ukraine conflict, two factions are forming.
Geopolitics
Wang Yi
News
Economic growth increasing
The Chinese economy experienced stronger-than-expected growth in the third quarter thanks to increasing domestic demand. The Gross Domestic Product (GDP) from July to September increased by 4.9 percent compared to the previous year, as reported by the statistics bureau in Beijing.
This growth exceeded the expectations of analysts surveyed by Reuters, who had anticipated a 4.4 percent increase. Compared to the previous quarter, the GDP grew by 1.3 percent, up from 0.5 percent in the second quarter. Economists surveyed by Reuters had expected a 1.0 percent increase. rtr
Foxconn and Nvidia building the factory of the future
Taiwanese electronics manufacturer Foxconn and US chipmaker Nvidia are joining forces with the self-proclaimed goal of revolutionizing the industrial world. The companies announced this collaboration in Taipei. They aim to construct highly automated factories that adapt to their requirements using AI-driven software. These computers will also generate the programs that run in the products. Foxconn plans to make these manufacturing facilities available to anyone looking to produce something, simplifying and expediting development and production.
Nvidia CEO Jensen Huang, the Foxconn “Model B” car and Foxconn Chairman Young Liu.
Foxconn will utilize this technology to manufacture EVs as an OEM for other brands, with the German supplier ZF Group from Friedrichshafen as a partner. Essentially, Foxconn will treat cars like other electronic devices it already manufactures for corporations like Apple, Sony or Hewlett Packard.
However, automobile production is just the first application for these computers that program other computers. Nvidia, the processor specialist, brings the necessary data centers to this collaboration. Computer scientists have long speculated about the consequences of AIs programming each other, removing humans from the loop. ChatGPT is already surprisingly adept at generating program code. Foxconn, in its characteristic fearless approach, positions itself as a pioneer in this field. fin
Serbia signs free trade agreement with China
China and Serbia have signed a free trade agreement. The ceremony, with Chinese state and party leader Xi Jinping and Serbian President Aleksandar Vučić, took place on the sidelines of the Silk Road Summit in Beijing on Tuesday, as announced by the Serbian President on Instagram. The agreement is expected to open new prospects for their relationship, Vučić stated, adding, “We are making progress in all areas.”
Details of the agreement were not disclosed. Vučić mentioned that Serbian producers of fruits, honey and wine are expected to benefit from the agreement. He hopes the agreement will come into effect in May or June next year. Instead of attending a Balkan summit in the Albanian capital, Tirana, on Monday, the Serbian leader traveled to Beijing.
Serbia has been in negotiations for EU membership since 2014. As a condition for EU accession, the Balkan nation will need to terminate its free trade agreements with non-EU states. However, Belgrade has shown little willingness for reforms. As a result, EU accession talks have been stalled for years. Under Vučić’s leadership, Serbia has expanded its relations, particularly with China and Russia. Moreover, Belgrade, unlike other EU accession candidates, did not join the sanctions against Russia. ari
Nio considers distribution through dealers in Europe
Chinese EV manufacturer Nio is reportedly considering expanding its European business by utilizing dealerships for distribution. This move is intended to boost sales, even though Chinese EVs could face market obstacles such as tariffs, according to three insiders familiar with the matter who spoke to Reuters on Wednesday. The company currently operates six showrooms in Germany, Norway, Sweden, Denmark and the Netherlands. Globally, there are 137 “Nio Houses”, as the central urban locations are referred to.
The company is currently exploring potential dealer partnerships in key European markets. These partnerships will primarily focus on distribution networks for Nio vehicles and the “Firefly” project, an affordable EV brand that the automaker plans to export to Europe starting in 2025. Nio has mainly relied on car subscriptions, leasing and direct sales in the European market.
These considerations are reportedly due to the brand’s sales falling below expectations, as noted by insiders. The European market presents its own unique challenges, according to one of the sources.
In response to inquiries, Nio stated that there are no changes in the marketing and sales methods for its brand in Europe and that the company is concentrating on building a direct sales network. Just like Tesla, Nio sells cars directly to end consumers in China. In the home market, the brand competes in the premium segment against German manufacturers Audi, BMW and Mercedes-Benz. rtr/flee
Autoindustrie
Nio
Trade
Heads
Shou Zi Chew – CEO of the mega-app TikTok
Shou Zi Chew, as the CEO of TikTok, is one of the most influential figures in the tech world.
Currently, about 1.7 billion people use the Chinese video platform TikTok. TikTok has become one of the major players in social media, especially since the onset of the COVID-19 pandemic. The concept of short videos gaining popularity one after the other has proven to be so lucrative that competitors like Instagram, YouTube and Facebook have integrated their own versions of the application into their platforms. Perhaps due to TikTok’s high profile, its CEO, Shou Zi Chew, usually maintains a low public profile.
Chew (Chinese: 周受资; Pinyin: Zhōu Shòuzī) was born in Singapore. The 40-year-old grew up in modest circumstances but was considered talented and managed to pass the entrance exam for an elite school at the age of twelve. After his military service, he pursued economics at the University College London and business administration at Harvard. During his time studying in the United States, he interned at a young start-up, Facebook.
After that, Chew initially joined Goldman Sachs in London as a banker, and later, he moved to the investment firm DST Global. In 2013, he led a team of early investors in Bytedance, which is now the parent company of TikTok.
In 2015, the TikTok CEO shifted further into the tech industry. He started as the CFO at Xiaomi and later became the President of international business. In March 2021, he took on the financial operations of Bytedance. Just two months later, he assumed his current position as the CEO of TikTok. Only in November 2021 did he step down from his role as the CFO of Bytedance.
Chew’s attempts to ease concerns
TikTok has faced significant international criticism. Never before has a digital platform from China gained so many users in the United States and Europe. However, Chinese companies are subject to state control and must cooperate with the security authorities of the People’s Republic. TikTok is primarily used by teenagers, making them susceptible to unique addiction and manipulation risks.
In March 2023, Chew had to testify before the US Congress due to these concerns. “We commit to this committee and all our users that we will keep TikTok free from any manipulation by any government,” he reassured the Congress. Some US politicians, including former President Donald Trump, had called for a ban on TikTok in the United States. In the US alone, 150 million people use the app. For five and a half hours, Chew tried to allay the concerns of US lawmakers.
However, he had to admit that employees in China do have access to data from customers in the United States. He also acknowledged the targeted espionage of American journalists, stating, “That should not have happened.” Svenja Schlicht
Executive Moves
Jiang Shigong will be the new vice president of Minzu University of China in Beijing. Jiang was previously a professor at Peking University’s Faculty of Law and a researcher on Hong Kong issues. Jiang helped formulate a 2014 Chinese government statement that attributed “comprehensive jurisdiction” over Hong Kong to Beijing. He did not see Hong Kong as separate from the West and supported China’s introduction of national security laws after the 2014 protests in Hong Kong.
Robert Liu has been appointed as the new General Manager of HeiQ China, the Chinese subsidiary of the Swiss textile innovation company.
Is something changing in your organization? Let us know at heads@table.media!
Dessert
Sweet or savory? Savory! A newly opened cinema in the southwestern Chinese city of Chengdu has included a rich hotpot menu in its “snack” offerings, alongside popcorn, chips and chocolate. Images of this unusual movie treat went viral on Chinese social media, sparking both approval and criticism. The fondue, illuminated by table lamps, was said to distract from the screen and the aroma disturbed other viewers.
Vladimir Putin and Xi Jinping entered the hall side by side at the dinner, as if Putin were the co-host of the Belt and Road Forum in Beijing. At the summit, the two presidents jointly courted the favor of Global South countries, offering their bloc as an alternative to a perceived US-led world order, as analyzed by Joern Petring.
However, the grandeur of the event could not mask the problems of the Belt and Road Initiative. The projects are extremely expensive, and in the economic crisis, China has no money to spare. Xi announced plans to be more selective in allocating funds. Beijing is becoming more frugal.
As for the Middle East conflict, neither Xi nor Putin commented. However, diplomats from both countries have already made their positions clear: China and Russia tend to place blame on the US and Israel for the catastrophe. Their sympathy leans towards Palestine. This is also the stance of the majority of BRICS countries, as analyzed by Frank Sieren. The BRICS have even found something like a common line on this issue.
Your Finn Mayer-Kuckuk
Feature
Xi and Putin court the Global South
Foreign policy highlight: President Xi Jinping receives guests from 140 countries.
The Presidents of China and Russia jointly courted the Global South at the Silk Road Forum in Beijing. Xi Jinping and Vladimir Putin used the grand stage to emphasize the achievements of the infrastructure initiative despite known criticisms of the project.
Xi began proceedings on Wednesday. In his opening speech for the forum in the Great Hall of the People, he not only praised China’s approach but also once again criticized the United States without mentioning it by name.
“When you give roses to others, their fragrance lingers on your hand,” Xi quoted a Chinese proverb. “Helping others is also helping oneself,” Xi continued. However, he added that “viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.” The Silk Road Initiative launched ten years ago is thus “the right side of history”.
Putin appeared like a co-host
Putin expressed similar sentiments. The Russian guest enjoyed special treatment in Beijing and, at times, appeared more like a co-host. Even at the festive dinner the evening before, Putin and Xi entered the hall side by side, ahead of all other guests. At the opening ceremony on Wednesday, Putin spoke as the second speaker. “Russia and China, like most countries in the world, share the aspiration for equal and mutually beneficial cooperation,” said the Russian President.
Noticeably, despite the current global situation, Xi and Putin strictly confined their speeches to economic topics. They did not mention the wars in Ukraine and the Middle East, although these regions are core areas of the Silk Road.
Instead, Xi and Putin allowed UN Secretary-General António Guterres to speak at the Silk Road Forum, where he had also traveled. In Beijing, he called for an immediate ceasefire in the Middle East. This is a position that China and Russia already support.
Presentation of an action plan
Xi not only looked back on ten years of the Silk Road but also discussed the project’s future. The main message: The Silk Road should not only connect through infrastructure. Green projects and digital connectivity will play a more central role in the future. Xi called for reaching “a new stage of high-quality development”. He summarized the goals in an eight-point action plan. Xi mentioned:
new logistics corridor across the Eurasian continent
establishment of pilot zones for Silk Road e-commerce cooperation, free trade agreements and investment protection treaties
financing commitment of 47.8 billion dollars by Chinese development banks
promoting green development
agreements on scientific development and artificial intelligence
more cultural exchange, including a tourism alliance
measures for more integrity and transparency in projects
strengthening the establishment of multilateral cooperation platforms, including the establishment of a secretariat for the Silk Road Forum
More plans for targeted investments
With this move, Beijing is following a path that had already been hinted at. Instead of building expensive mega-infrastructure projects relatively broadly, there will be more targeted investment in the future. The idea is not entirely new. The phrase “small is beautiful” has been appearing in Chinese state media in connection with the Silk Road Initiative for some time. This is a clear sign that the strategy has been adjusted.
China is dealing with economic problems at home and is not willing to overexert itself. In Africa alone, the average loan volume for the period 2020 to 2022 compared to 2017 to 2019 has decreased from 213 million to just over 135 million dollars, as calculated by the Global Development Policy Centre at Boston University. The number of new loans has dropped from 184 to 32 in the same observation period.
The Chinese leadership still sees the Silk Road as an integral part of its foreign policy. However, projects are likely to be chosen more selectively in the future.
While the West aligns with Israel, China openly criticizes Israeli actions. China’s Foreign Minister Wang Yi remarked that Israel’s actions have exceeded self-defense but made no mention of Hamas’s acts. He emphasized China’s opposition to actions that “harm civilians and condemned any violation of international law”.
Wang proposed that the fundamental solution lies in implementing the “two-state solution” and establishing an independent Palestinian state for the peaceful coexistence of Palestine and Israel, calling for an international peace conference.
BRICS positions on the conflict are relatively uniform
The EU currently struggles to find a unified voice on the conflict, but within the BRICS countries, there is substantial consensus. The BRICS countries are core members of the Belt and Road Initiative (BRI). Moscow’s position is clear. The other BRICS countries, besides China – Brazil, India, and South Africa – tend to position themselves similarly or even more in favor of the Palestinians. Criticism of Hamas is usually absent in their stances.
Despite being Israel’s most significant trade partner in Africa, South Africa aligns with the Palestinians more strongly than any other BRICS country, except for Russia. South African President Cyril Ramaphosa expresses “solidarity with the Palestinians” by wearing a Palestinian scarf and emphasized that the people in Palestine have been “under occupation for nearly 75 years”. Ramaphosa called on the international community to do everything “to restore peace”.
Brazil shows restraint
Brazilian President Luiz Inácio Lula da Silva is more reserved but still clearly differentiates from the Western position and aligns closely with Beijing. Brazil currently holds the chair of the UN Security Council. Lula stated that Hamas should release kidnapped Israeli children and urged Israel to “halt the bombardments”.
Meanwhile, Brazil’s Foreign Minister Mauro Vieira reacted with “shock” to Israel’s call for “over one million civilians in the northern Gaza Strip to evacuate within 24 hours”. President Lula called for an international humanitarian intervention and a ceasefire to “protect Israeli and Palestinian children”.
Prime Minister Narendra Modi, who currently holds the G20 presidency, has maintained good relations with both Israel and the Palestinians for some time. Modi emphasized that “the world now recognizes the enormity of the challenge of terrorism. Terrorism in any form is against humanity”. He stressed that it is “high time for peace and brotherhood”. Although he categorically labeled the Hamas attack on Israel as a “terrorist act”.
India names Hamas terror
Nevertheless, Adnan Abualhayjaa, Palestine’s Ambassador to India, emphasized that “India is equally respected in Israel and Palestine”. Shortly after Modi received his Israeli counterpart in Delhi in 2017, he became the first Indian Prime Minister to visit the West Bank. India is also the largest buyer of Israeli weapons, purchasing over a billion US dollars’ worth of military goods from Israel each year.
Looking at the new BRICS members, it is not surprising: From January 2024, Iran, Saudi Arabia and the United Arab Emirates will become part of the alliance. Their positions are likely to be clear.
Among the new BRICS members, it’s interesting to see how Egypt positions itself. Egyptian President Abdel Fattah El-Sisi initially expressed concern, not surprisingly, about Israel’s response. He said, “They are exaggerating the right to self-defense, and it is leading to collective punishment of 2.3 million Palestinians.”
No clear condemnation in the UN Security Council
He also made a clear condemnation of Hamas’s terrorist act: “We unequivocally condemn it.” However, he added that this is the result “of accumulated anger and hatred over four decades in which the Palestinians had no hope for a solution.”
The positions of the BRICS countries have led to a lack of majority support for the unilateral condemnation of Hamas during the urgent UN Security Council session last Sunday. The US, in vain, called for the international community to “strongly condemn this unprovoked invasion and the terrorist attacks and activities that have occurred and are still occurring”.
It is becoming evident that, as in the case of the Ukraine conflict, two factions are forming.
Geopolitics
Wang Yi
News
Economic growth increasing
The Chinese economy experienced stronger-than-expected growth in the third quarter thanks to increasing domestic demand. The Gross Domestic Product (GDP) from July to September increased by 4.9 percent compared to the previous year, as reported by the statistics bureau in Beijing.
This growth exceeded the expectations of analysts surveyed by Reuters, who had anticipated a 4.4 percent increase. Compared to the previous quarter, the GDP grew by 1.3 percent, up from 0.5 percent in the second quarter. Economists surveyed by Reuters had expected a 1.0 percent increase. rtr
Foxconn and Nvidia building the factory of the future
Taiwanese electronics manufacturer Foxconn and US chipmaker Nvidia are joining forces with the self-proclaimed goal of revolutionizing the industrial world. The companies announced this collaboration in Taipei. They aim to construct highly automated factories that adapt to their requirements using AI-driven software. These computers will also generate the programs that run in the products. Foxconn plans to make these manufacturing facilities available to anyone looking to produce something, simplifying and expediting development and production.
Nvidia CEO Jensen Huang, the Foxconn “Model B” car and Foxconn Chairman Young Liu.
Foxconn will utilize this technology to manufacture EVs as an OEM for other brands, with the German supplier ZF Group from Friedrichshafen as a partner. Essentially, Foxconn will treat cars like other electronic devices it already manufactures for corporations like Apple, Sony or Hewlett Packard.
However, automobile production is just the first application for these computers that program other computers. Nvidia, the processor specialist, brings the necessary data centers to this collaboration. Computer scientists have long speculated about the consequences of AIs programming each other, removing humans from the loop. ChatGPT is already surprisingly adept at generating program code. Foxconn, in its characteristic fearless approach, positions itself as a pioneer in this field. fin
Serbia signs free trade agreement with China
China and Serbia have signed a free trade agreement. The ceremony, with Chinese state and party leader Xi Jinping and Serbian President Aleksandar Vučić, took place on the sidelines of the Silk Road Summit in Beijing on Tuesday, as announced by the Serbian President on Instagram. The agreement is expected to open new prospects for their relationship, Vučić stated, adding, “We are making progress in all areas.”
Details of the agreement were not disclosed. Vučić mentioned that Serbian producers of fruits, honey and wine are expected to benefit from the agreement. He hopes the agreement will come into effect in May or June next year. Instead of attending a Balkan summit in the Albanian capital, Tirana, on Monday, the Serbian leader traveled to Beijing.
Serbia has been in negotiations for EU membership since 2014. As a condition for EU accession, the Balkan nation will need to terminate its free trade agreements with non-EU states. However, Belgrade has shown little willingness for reforms. As a result, EU accession talks have been stalled for years. Under Vučić’s leadership, Serbia has expanded its relations, particularly with China and Russia. Moreover, Belgrade, unlike other EU accession candidates, did not join the sanctions against Russia. ari
Nio considers distribution through dealers in Europe
Chinese EV manufacturer Nio is reportedly considering expanding its European business by utilizing dealerships for distribution. This move is intended to boost sales, even though Chinese EVs could face market obstacles such as tariffs, according to three insiders familiar with the matter who spoke to Reuters on Wednesday. The company currently operates six showrooms in Germany, Norway, Sweden, Denmark and the Netherlands. Globally, there are 137 “Nio Houses”, as the central urban locations are referred to.
The company is currently exploring potential dealer partnerships in key European markets. These partnerships will primarily focus on distribution networks for Nio vehicles and the “Firefly” project, an affordable EV brand that the automaker plans to export to Europe starting in 2025. Nio has mainly relied on car subscriptions, leasing and direct sales in the European market.
These considerations are reportedly due to the brand’s sales falling below expectations, as noted by insiders. The European market presents its own unique challenges, according to one of the sources.
In response to inquiries, Nio stated that there are no changes in the marketing and sales methods for its brand in Europe and that the company is concentrating on building a direct sales network. Just like Tesla, Nio sells cars directly to end consumers in China. In the home market, the brand competes in the premium segment against German manufacturers Audi, BMW and Mercedes-Benz. rtr/flee
Autoindustrie
Nio
Trade
Heads
Shou Zi Chew – CEO of the mega-app TikTok
Shou Zi Chew, as the CEO of TikTok, is one of the most influential figures in the tech world.
Currently, about 1.7 billion people use the Chinese video platform TikTok. TikTok has become one of the major players in social media, especially since the onset of the COVID-19 pandemic. The concept of short videos gaining popularity one after the other has proven to be so lucrative that competitors like Instagram, YouTube and Facebook have integrated their own versions of the application into their platforms. Perhaps due to TikTok’s high profile, its CEO, Shou Zi Chew, usually maintains a low public profile.
Chew (Chinese: 周受资; Pinyin: Zhōu Shòuzī) was born in Singapore. The 40-year-old grew up in modest circumstances but was considered talented and managed to pass the entrance exam for an elite school at the age of twelve. After his military service, he pursued economics at the University College London and business administration at Harvard. During his time studying in the United States, he interned at a young start-up, Facebook.
After that, Chew initially joined Goldman Sachs in London as a banker, and later, he moved to the investment firm DST Global. In 2013, he led a team of early investors in Bytedance, which is now the parent company of TikTok.
In 2015, the TikTok CEO shifted further into the tech industry. He started as the CFO at Xiaomi and later became the President of international business. In March 2021, he took on the financial operations of Bytedance. Just two months later, he assumed his current position as the CEO of TikTok. Only in November 2021 did he step down from his role as the CFO of Bytedance.
Chew’s attempts to ease concerns
TikTok has faced significant international criticism. Never before has a digital platform from China gained so many users in the United States and Europe. However, Chinese companies are subject to state control and must cooperate with the security authorities of the People’s Republic. TikTok is primarily used by teenagers, making them susceptible to unique addiction and manipulation risks.
In March 2023, Chew had to testify before the US Congress due to these concerns. “We commit to this committee and all our users that we will keep TikTok free from any manipulation by any government,” he reassured the Congress. Some US politicians, including former President Donald Trump, had called for a ban on TikTok in the United States. In the US alone, 150 million people use the app. For five and a half hours, Chew tried to allay the concerns of US lawmakers.
However, he had to admit that employees in China do have access to data from customers in the United States. He also acknowledged the targeted espionage of American journalists, stating, “That should not have happened.” Svenja Schlicht
Executive Moves
Jiang Shigong will be the new vice president of Minzu University of China in Beijing. Jiang was previously a professor at Peking University’s Faculty of Law and a researcher on Hong Kong issues. Jiang helped formulate a 2014 Chinese government statement that attributed “comprehensive jurisdiction” over Hong Kong to Beijing. He did not see Hong Kong as separate from the West and supported China’s introduction of national security laws after the 2014 protests in Hong Kong.
Robert Liu has been appointed as the new General Manager of HeiQ China, the Chinese subsidiary of the Swiss textile innovation company.
Is something changing in your organization? Let us know at heads@table.media!
Dessert
Sweet or savory? Savory! A newly opened cinema in the southwestern Chinese city of Chengdu has included a rich hotpot menu in its “snack” offerings, alongside popcorn, chips and chocolate. Images of this unusual movie treat went viral on Chinese social media, sparking both approval and criticism. The fondue, illuminated by table lamps, was said to distract from the screen and the aroma disturbed other viewers.
