01 декабря, 07:05

Comparing China & America: Economies Diverge, Police States Converge

Authored by Fred Reed via Fred On Everything blog, I have followed China’s development, its stunning advance in forty years from impoverished Third World to a huge economy, its rapid scientific progress. Coming from nowhere it now runs neck and neck with the US in supercomputers, does world-class work in genetic engineering and genomics (the Beijing Genomics Institutes), quantum computing and quantum radar, in scientific publications. It lags in many things, but the speed of advance, the intense focus on progress, is remarkable. Recently, after twelve years away, I returned for a couple of weeks to Chungdu and Chong Quing, which I found amazing. American patriots of the lightly read but growly sort will bristle at the thought that the Chinese may have political and economic systems superior to ours, but, well, China rises while the US flounders. They must be doing something right. In terms of economic systems, the Chinese are clearly superior. China runs a large economic surplus, allowing it to invest heavily in infrastructure and in resources abroad. America runs a large deficit. China invests in China, America in the military. China’s infrastructure is new, of high quality, and growing. America’s slowly deteriorates. China has an adult government that gets things done. America has an essentially absentee Congress and a kaleidoscopically shifting cast of pathologically aggressive curiosities in the White House. America cannot compete with a country far more populous of more-intelligent people with competent leadership and the geographic advantage of being in Eurasia. Washington’s choices are either to start a major war while it can, perhaps force the world to submit through sanctions, or resign itself to America’s becoming just another country. Given the goiterous egos inside the Beltway Bubble, this is not encouraging. To compare the two countries, look at them as they are, not as we are told  they are. We are told that dictatorships, which China is, are nightmarish, brutal, do not allow the practice of religion or freedom of expression and so on. The usual examples are Pol Pot, Stalin, Hitler, Mao, and North Korea, of whom the criticisms are true. By contrast, we are told, America is envied by the world for its democracy, freedom of speech,  free press, high moral values, and freedom of religion. This is nonsense. In fact the two countries are more similar than we might like to believe, with America converging fast on the Chinese model. The US is at best barely democratic. Yes, every four years we have a hotly contested presidential election, full of sound and fury signifying nothing. The public has no influence over anything of importance: the wars, the military budget, immigration, offshoring of jobs, what our children are taught in school, or foreign or racial policy We do not really have freedom of speech. Say “nigger” once and you can lose a  job of thirty years. Or criticize Jews, Isreal, blacks, homosexuals, Muslims, feminists, or transexuals. The  media strictly prohibit any criticism of these groups, or anything against abortion or in favor of gun rights, or any coverage of highly profitable wars that might turn the public against them, or corruption in Congress or Wall Street, or research on the genetics of intelligence. Religion? Christianity is not illegal, but heavily repressed under the Constitutionally nonexistent doctrine of separation of church and state. Surveillance? Monitoring of the population is intense in China and getting worse. It is hard to say just how much NSA monitors us, but America is now a land of cameras, electronic readers of license plates, recording of emails and telephone conversations. The tech giants increasingly censor political sites, and surveillance in our homes appears about to get much worse. Here we might contemplate Lincoln’s famous dictum, “You can fool all of the people some of the time, and some of the people all of the time, but you can’t fool all of the people all of the time.” Being a politician, he did not add a final clause that is the bedrock of American government, “But you can fool enough of the people enough of the time.” You don’t have to keep websites of low circulation from being politically incorrect. You just have to tell the majority, via the mass media, over and over  and over, what you wnat them to believe. The dictatorship in China is somewhat onerous, but has little in common with the sadistic lunacy of Pol Pot’s Cambodia. In China you do not buck the government, propaganda is heavy, and communications monitored. If people accept this, as most do, they are free to start businesses, bar hop, smoke dope (which a friend there tells me is common though illegal) engage in such consumerism as they increasingly can afford and lead what an American would call normal lives. A hellhole it is not. Socially China has a great advantage over America in that, except for the Muslims of Xinjiang, it is pretty much a Han monoculture. Lacking America’s racial diversity, its cities do not burn, no pressure exists to infantilize the schools for the benefit of incompetent minorities, racial mobs do not loot stores, and there is very little street crime. America’s huge urban pockets of illiteracy do not exist. There is not the virulent political division that has gangs of uncontrolled Antifa  hoodlums stalking public officials. China takes education seriously, as America does not. Students study, behave as maturely as their age would suggest, and do not engage in middle-school politics. In short, China does not appear to be in irremediable decadence. America does. An intelligent dictatorship has crucial advantages over a chaotic pseudo-democracy. One is stability of policy. In America, we look to the next election in two, four, or six years. Businesses focus on the next quarter’s bottom line. Consequently policy flipflops. One administration has no interest in national health care, the next administration institutes it, and the third wants to eliminate it. Because policies are pulled and hauled in different directions by  special interests–in this case Big Pharma, insurance companies, the American Medical Association, and so on–the result is an automobile with five wheels, an electric motor but no batteries, and a catalytic converter that doesn’t work. After twenty-four years, from Bush II until  Trump leaves, we will neither have nor not have national health care. China’s approach to empire is primarily commercial, America’s military.  The former turns a profit without firing a shot, and the latter generates a huge loss as the US tries to garrison the world. Always favoring coercion, Washington now tries to batter the planet into submission via tariffs, sanctions, embargoes, and so on. Whether it will work, or force the rest of the world to band together against America, remains to be seen. Meanwhile the Chinese economy grows. America builds aircraft carriers. China builds railroads, this one in Laos. A dictatorship can simply do things. It can plan twenty, or fifty,  years down the road.  If some massive engineering project will produce great advantages in thirty years, but be a dead loss until then, China can just do it. And often has. When I was in Chengdu, Beijing opened the Hongkong–Zhuhai-Macau oceanic bridge, thirty-our miles long.  The bridge. The US would take longer to decide to build it than the Chinese took actually to build it. In the US? California wants high-speed rail from LA to San Fran. It has talked and wrangled for years without issue. The price keeps rising. The state can’t get rights of way because too many private owners have title to the land. Eminent domain? Conservatives would scream about sacred rights to property, liberals that Hispanic families were in the path, and airlines would bribe Congress to block it. America does  not know how to build high-speed rail and hiring China would arouse howling about national security, balance of payments, and the danger to motherhood and virginity. There will be no high speed rail, there or, probably,  anywhere else. Wreckage from the 8.0 earthquake. This is not un-repaired devastation but, weirdly, is kept as a tourist attraction and actually propped up so it won’t collapse further. Phredfoto. China has a government that can do things: In 2008 an 8.0 quake devastated the region near the Tibetan border, killing, according to the Chinese government, some 100,000 people. Buildings put up long before simply collapsed. Some years ago everything–the town, the local dam, and roads and houses–had been completely rebuilt, with structural steel so as, says the government, to withstand another such quake. Compare this with the unremedied wreckage in New Orleans due to Katrina. Here we come to an important cultural or philosophical difference between the two countries. Many Orientals, to include the Chinese, view society as a collective instead of as a Wild West of individuals. In the East, one hears sayings like, “The nail that stands up is hammered down,” or “The high-standing flower is cut.” Americans who teach school in China report that students will not question a professor, even if he spouts arrant nonsense to see how they will react. They are not stupid. They know that the Neanderthals did not build a moon base in the early Triassic. But they say nothing. This collectivism, highly disagreeable to Westerners (me, for example) has pros and cons. It makes for domestic tranquility and ability to work together, and probably accounts in large part for China’s stunning advances. On the other hand, it is said to reduce inventiveness. There may be something to this. If you look at centuries of Chinese painting, you will see that each generation largely made copies of earlier masters. As nearly as I, a non-expert, can tell, there is more variety and imagination in the Corcoran Gallery’s annual exhibition of high-school artists than in all of  of Chinese paining. People alarmed at China’s growth point out hopefully that the Chinese in America have not founded Googles or Microsofts. No, though certainly have founded huge companies: Alibaba, Baidu, Tencent, for example. However, the distinction between inventiveness and really good engineering is not always clear, and the Chinese are fine engineers. With American education crashing under the attacks of Social Justice Warriors, basing the future on a lack of Chinese imagination seems maybe a bit too adventurous.

28 ноября, 17:15

Stocks Hold Onto Gains Ahead of Powell Speech

Stocks Hold Onto Gains Ahead of Powell Speech

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28 ноября, 14:51

Первые наушники для синхронного перевода появятся в продаже уже в январе

Компания Timekettle готова начать массовое производство беспроводных наушников с функцией синхронного перевода. Об этом сообщает Хайтек. Перед разговором с иностранцем достаточно вставить один динамик себе в ухо, а второй отдать собеседнику. Средства на запуск производства […]

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03 апреля, 01:38

Baidu's IPO Of Video Streamer iQiYI Cheers Robin Li, Others?

When iQIYI raised $2.2 billion in a NY IPO, Robin Li and others cheered. But others wondered if U.S. investors really get China tech.

02 апреля, 18:10

Baidu Inc (ADR) Stock Just Dipped Into Undervalued Territory

From the data leak at Facebook, Inc. (NASDAQ:FB) to Nvidia Corporation (NASDAQ:NVDA) suspending self-driving tests following a fatal Uber accident in Tempe to insider selling at Tencent Holdings Ltd (OCTMKTS:TCEHY), the near-term picture in tech is pretty blurry right now. One such stock is Chinese digital search giant Baidu Inc (ADR) (NASDAQ:BIDU). BIDU stock has been pounded recently.

02 апреля, 17:15

Alibaba to Acquire Ele.me, Expand in Food Delivery Space

Alibaba's (BABA) customer base and revenues will improve with the takeover of the remaining shares of Ele.me.

02 апреля, 11:21

Alibaba выкупает сервис доставки еды Ele.me

Alibaba Group станет владельцем китайского сервиса доставки еды Ele.me, стоимость которого оценивается в $9,5 млрд, сообщает Alizila. Китайский онлайн-ритейлер уже владел 43-процентной долей сервиса совместно со своими аффилированными компаниями Ant Small и Micro Financial Services Group. Оставшаяся часть капитала Ele.me до сих пор принадлежала поисковику Baidu. Теперь Alibaba выкупит эту долю за наличные, став единоличным владельцем сервиса. Сумма сделки не разглашается.Ele.me является одним из лидеров на китайском рынке доставки еды и борется за доминирующее положение с Meituan Dianping — стартапом, поддерживаемым главным конкурентом Alibaba Group Tencent Holdings. Ele.me привлек в 2016 году около $1,25 млрд инвестиций, и в настоящий момент это один из самых дорогостоящих стартапов. Компания планирует провести IPO в этом году, а ее рыночная стоимость может достичь $60 млрд.

01 апреля, 19:01

Pilot aims to aid companies to list on the mainland

NEARLY 40 innovative companies qualify for a pilot program launched by the China Securities Regulatory Commission to help them go public in the mainland market or to issue depository receipts, according

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01 апреля, 15:10

Китайская компания Baidu представила мгновенный карманный переводчик

Устройство способно быстро воспринимать устную речь и переводить его на другой язык.

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30 марта, 08:15

iQiyi: 'China's Netflix' shares dip in US stock debut

Shares in Baidu's iQiyi streaming platform fell below their opening price on Wall Street's Nasdaq.

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29 марта, 17:19

Go Long Baidu Inc (ADR) Stock Without Much Risk

Baidu Inc (ADR) (NASDAQ:BIDU) stock is indeed a fallen angel. Most mega caps like Alphabet Inc (NASDAQ:GOOG, NASDAQ:GOOGL), Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR) to name a few are down just as much. The NASDAQ was hit hard and it had its effect on stocks like BIDU.

29 марта, 16:37

NVIDIA (NVDA) Collaborates With Adobe for Sensei AI Toolkit

NVIDIA (NVDA) partners Adobe (ADBE) whereby its graphics processing units (GPUs) will power up the latter's AI toolkit, Sensei.

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29 марта, 15:11

Zacks Investment Ideas feature highlights: Apple, NVIDIA, Intel, Baidu and Tesla

Zacks Investment Ideas feature highlights: Apple, NVIDIA, Intel, Baidu and Tesla

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28 марта, 23:51

Why Driverless Cars Will Still Win After Uber and Tesla Accidents

Why Driverless Cars Will Still Win After Uber and Tesla Accidents

28 марта, 19:01

Platform to drive intelligent autos

CHINA is building a national-level innovation platform to further accelerate the development of intelligent vehicles, the National Development and Reform Commission said during a seminar held in Beijing

28 марта, 17:21

NVIDIA (NVDA) Suspends Self-Driving Car Tests, Shares Crash

NVIDIA (NVDA) decides to halt tests of self-driving cars on concerns about the findings of the ongoing Uber crash investigation.

28 марта, 08:13

10 успешных женщин-новаторов из Азии моложе 30. Рейтинг Forbes

Самые вдохновляющие женщины Азиатско-Тихоокеанского региона, которым еще нет и 30

28 марта, 01:15

China Poised To Overtake U.S. In Artificial Intelligence Race

Authored by Damir Kaletovic via SafeHaven.com, The U.S. has led the world in technology for a long time, and while it’s still the definitive leader in the artificial intelligence space, China has stepped onto this stage determined to overtake its American rival. Whoever manages to dominate this ultimate technological end game will, in the words of Vladimir Putin, rule the world. For now, China lags in every area of AI development, including hardware for autonomous AI, or robots, and self-driving cars. It also lacks experienced AI researchers and is behind in terms of fundamental innovation in algorithms. According to a report by Oxford's Future of Humanity Institute, China scores 17 in its overall capacity for developing technologies, compared to a score of  33 for the U.S. But there is at least one critical advantage China has in this race… While it comes up lacking on a number of AI levels, one important shortfall is actually a formidable strength: China lacks serious laws governing data protection. This gives China what amounts to total freedom to develop AI technology and give it the space to become huge, according to Dong Tao, vice chairman for Great China at Credit Suisse Private Banking Asia Pacific. China is winning the big data war, even if it’s not the AI leader - yet... The past decade has been one of enormous growth for Chinese tech darlings. Look no further than tech giants such as Tencent, whose market capitalization jumped from around $13 billion in 2007 to over $500 billion in 2018.  "America is at a disadvantage because we are No. 1, because of complacency that goes with that," says Chris Nicholson, CEO of Skymind - a Tencent investment. "The U.S. is still No. 1 in research but China is catching up quick. They believe it's their race to win. And I think it's our race to lose." Of the one million foreign nationals enrolled at U.S. schools, about one-third are from China, which is double the number of any other country. Chinese students are awarded 10% of all doctorates in the U.S.--and most of them are in science and engineering. In many ways, the U.S. advantage right now is bolstered by Chinese minds. There are more Chinese engineers working on AI at U.S. tech companies than in all of China. That’s why Trump's administration is now considering restrictions on the number of Chinese citizens enrolled at U.S. colleges and universities—but will that harm America’s AI advantage? China also rules the world in terms of internet users, 750 million out of 1.4 billion people online. And while harnessing data is no challenge for China, data alone won’t win it the AI arms race. China knows this, and that’s why the Chinese State Council has set itself the goal of matching the U.S. in AI by 2020, eyeing a $150-billion industry. By 2030, it plans to become the key AI “innovation center” for the world. China’s tech leaders are confident they will come out on top, too. While they recognize that China is behind, they believe that not only will they catch up, but that China’s big data prowess will ensure them the top position. Size matters. “China has the most internet users. And the Chinese government’s determination to push the application of AI forward is unmatched …” China’s SCMP media quoted Liu Qingfeng, chairman of iFlyTek, as saying. And Chinese billionaires are betting big on AI. Chinese tech magnate Robin Li is hoping to play a game-changing role in what he’s sure will be Beijing’s dominance in this sector. The force behind the “Chinese Google”, Baidu, committed $2 billion to AI-related research and development last year, and this year expects to boost that significantly. For China, AI is a national priority - and its billionaires are definitively on board. It’s a unity of purpose that the West will find hard to compete with.

27 марта, 20:05

Should You Buy BlackBerry (BB) Stock Ahead of Earnings?

Shares of BlackBerry (BB) dipped over 1.5% during morning trading on Tuesday, just one day before the former smartphone power is expected to report its latest quarterly financial results. After a rough few weeks of trading, investors will be on the lookout for strong earnings results, which means Wall Street will be focusing on BlackBerry when it reports Wednesday.

27 марта, 19:12

Baidu (BIDU) Announces Notes Offering Worth $1.5 Billion

Baidu, Inc. (BIDU) announced a public offering of notes aggregating $1.5 billion. The move will help the company bring down its cost of capital, thereby strengthening its balance sheet.

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25 августа 2016, 08:37

В Сингапуре запустили беспилотное такси. Бесплатно

Сингапурская компания nuTonomy запустила первое беспилотное такси, при этом сервис впервые в мире предоставляется бесплатно.