独家
习近平的科技仙境遇到阻力
他的行为,特朗普威胁收入和产品开发在中国最具创新精神的公司。的重要性,放大了他的行动的时机,这是中国正在升级其行业,许多行业仍然需要来自国外的专业知识来完成开发Xi预计。
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Ashwini Vaishnaw袋10点的官员腐败指控
不到16年经验的官员受到缺口,而高级年级有一个长期的经验。凹陷水平相当于政府部门的联合秘书,虽然缺口是在主管级别。
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在一个新的400英亩的研发中心在中国的南部海岸,华为技术有限公司的工程师聊天,利用手机,或冷静下来在建筑物之间的一个小型电动有轨电车,开始震动他们各种建模在索邦神学院或英格兰最伟大的大学。他们穿过社区建在凡尔赛宫的风格或文艺复兴时期的意大利,路过的一些3000年园艺和维修人员需要保持巨大的绿地无瑕。
7月下旬,在这个Disneyland-like企业校园大约一个半小时的车程从香港,华为似乎沉浸在财富从在5 g移动技术的领先地位。没有其他公司做更多的项目技术先进的中国的形象在国际舞台上。没有其他公司是更大的中国与外部世界接触的象征。
华为的向上爬的野心是future-defining的最前沿技术已登陆公司盯上了美国和其他国家政府认为这是一个渠道中国共产党的地缘政治目标。总统在8月中旬美国商务部,在特朗普的方向,旨在削减了另一轮的限制华为的进入商用计算芯片需要5 g基站和智能手机。
中国最大的科技公司收入的命运纠缠在一起,一个巨大的项目,现在前线的相应的技术美国和中国之间的战争:负责一个区域的大湾地区的总统习近平副主席将国家推向全球技术领导力。
GBA的创新能力和集成足够成功,所面临的任务是最挑战美国主导全球反对中国科技在香港和北京的政治镇压。如果GBA的公司可以克服的障碍被放置在他们的道路,他们很可能决定发达和繁荣的中国如何成为习。
的珠江三角洲——中国最富有、最经济最有活力的地区之一,为Xi大湾地区——从森林山在肇庆的混凝土塔香港岛西北东南。习的震中达到高收入的战略地位,结合香港和澳门的前殖民中心到祖国,并完成他所称的“复兴”的中华民族。他希望这个地区大约有7000万人的对手东京湾的集群或圣Francisco-Silicon谷在推动创新中所发挥的作用,企业家精神,和增长。
习华为反映珠江三角洲的宏伟蓝图。但随着胜过政府的压力,公司的高管,曾去年创纪录的1220亿美元的销售额,表现出认识到改变的迹象,缩小他们现在生活的世界。
郭“,一个二十年经验的公司跑业务在欧洲和部分是现在国际媒体事务的总统,部署精辟的轻描淡写的描述华为的困境。“天上的星星会发光向西或向东,”他说,意思会有机会华为是否美国砰地一声把车门关上。“我们不是针对每一位客户。顾客选择华为最终会生活得更好。”
他的行为,限制销售的高端半导体华为,禁止美国人与腾讯控股有限公司做生意的微信应用程序-特朗普威胁收入和产品开发在中国最具创新精神的公司。的重要性,放大了他的行动的时机,这是中国正在升级其行业,许多行业仍然需要来自国外的专业知识来完成开发Xi预计。
中国领导人保持公众对开放的承诺,世界经济全球化中受益的国家在过去的二十年里得这么漂亮。但习也采用封闭狭隘的想法转变回到自给自足的一个工业模型整合到全球供应链。不一定符合中国的利益,杜大伟说,一位前美国财政部使者的国家现在在华盛顿布鲁金斯学会(Brookings Institution)高级研究员。“危险在于如果你觉得你必须应对美国贸易保护主义与中国贸易保护主义,”他说。“如果你沿着这条路,那么这一切愿望成为一个更具创新性经济很绝望。”
大湾地区战略是植根于早期在习近平主席的,都是对中国走向世界通过投资、收购,通过行动和地缘政治伙伴关系建设等“腰带和路”企业。深圳当地政府于2014年首次提出,然后上升到去年公布的中央政府政策蓝图计划概括了野心建立技术中心”的目标是世界上最先进的技术和产业。”
远离北京和靠近大海,珠江三角洲地区一直是中国最具商业和创新的地方。拥挤的岛屿,香港、澳门保持独立的司法管辖区即使在今天,有自己的法律、货币和政治传统的英国和葡萄牙殖民主义的遗产。在香港,当地社会和政治文化之间的差异在边境摩擦的主要来源,在香港有成千上万的人走上街头在去年经常暴力抗议反对共产党控制的增加。
站在深圳的未来塔,就在沼泽边缘从香港,很容易想象技术领先地位是触手可及的目标。仅在这个城市,讲述神话从渔村全球大都市在四十年里,真正的公司声称世界领导他们的家。
十几财富全球500强公司Guangzhou-Hong Kong-Shenzhen集合都市帮助驱动一个万亿美元的经济超过日本出口。该地区研发投入是全国平均水平的两倍,和深圳仅占中国的五分之一以上的高端出口。
华为始于1987年,其创始人任正非反复越过边境,从香港进口电话交换齿轮,然后转卖给客户在中国急需升级通信。今天,员工持股公司已经在大约170个国家销售。公司总部在深圳,奢华接待游客的房间是模仿日本的京都,用点心旨在让高管感觉放心交易之前把电信硬件。
但是国家的列表看到华为作为中国的地缘政治野心的代理正在增长。在美国的带领下,英国禁止公司下一代5 g网络和要求华为技术已经安装在现有设备在2027年被剥夺了。澳大利亚已经关闭了公司,日本。印度可能会抑制华为和科技在深圳的邻居,中兴通讯集团。从其网络,两个国家之间的关系恶化。
这种科技世界经济脱钩可能花费约3.5万亿美元的浪费输出在未来5年内,根据德意志银行(Deutsche Bank AG)在7月份的一份报告。成本产生于额外的研发、供应链需求中断,重路由,将成为必要的电流技术和parts-much已经通过中国改变永久。
已经发生在华为,更广泛地说,在中国。华为说,特朗普5月实施制裁,禁止使用美国技术公司提供中国公司,把它从约2%的进口部件,它不能在其他地方采购。能够完全取代失去的技术可能需要华为一个额外的五到八年,它说;外面估计点到10年或更多。这是“一大损失,”Yu Chengdong,华为消费者业务集团的首席执行官,8月份公开表示。
中国领导人多次表示,从外部压力将使国家技术上加倍努力,迎头赶上。有证据表明,广泛推动正在增加研究和设计能力。中国半导体企业首次公开发行(ipo)提出了创纪录的100亿美元,8月企业寻求本地化供应链。
这正是一种重复的工作,德意志银行(Deutsche Bank)警告说,没有保证本土企业可以弥补他们失去很快从外面。可以离开GBA的位置作为一个领先的技术中心在中国国内市场,但低于世界扮演这个角色。
尽管美国的行动伤害大湾地区的一些科技公司,Covid-19大流行促进了别人。深圳迈瑞生物医疗电子股份有限公司总部是一个适当clinical-looking, 35个描述塔在深圳南山区。它制造等产品,SV800 SV300一系列医疗呼吸器治疗病人受Covid-19严重影响至关重要。
公司的三个founders-including徐航,新加坡居民已经是这个城市国家的富有的人增加了约170亿美元,今年他们的财富加起来的需求飙升。海涛说,黄副总裁迈瑞公司10%的收入带来的资金投入研发,旨在进入全球前20名的医疗设备公司和推动行业的前沿自动化和人工智能。
但迈瑞表示,其医疗设备使用在巴尔的摩的约翰霍普金斯医院和梅奥诊所的校园,永远不得从美国针对免疫。今年8月,作为总统竞选的一部分,民主党候选人乔·拜登发誓要结束美国依赖中国的医疗设备。“部分我们的设备都是在美国生产,”黄说。“为了供应链的安全,我们要遵守所有美国和国际法律。与此同时,我们也积极发展备份计划,其中包括寻找替代供应商。”
创新GBA的主要驱动因素是公司,不是大学,进展的速度更容易受到商业周期和任何个人公司的命运。这里没有伯克利和斯坦福大学。中国最好的思想在科学、技术、工程和数学还是毕业清华大学和北京大学在首都,上海复旦大学,数千公里远。
挑出一个问题的埃里克•郭局长人工智能科学家广东Oppo移动电信公司,全球第五大智能手机制造商。36岁的前微软(Microsoft corp .)研究员从印第安纳州普渡大学的博士学位。
坐在公司的办公室很快取代总部由扎哈·哈迪德设计,郭先生赞扬了在深圳的生活质量。他指出,分支机构的中国一流大学要来深圳,但是需要做更多的工作,因为大学的美丽和有效性的研究,它不是在短期内受到赚钱。“大学是创新的引擎,”他说。
不到20英里之外,在香港市中心,这是大学的学生在2019年夏天,走上街头,抗议首先对一项法律,将侵蚀之间的合法分居前英国殖民地和大陆,然后更普遍反对北京的统治。
在许多方面,香港是做什么总是done-getting继续与中国做生意仍然是大多数外国直接投资流入的漏斗更广泛的GBA。但现在大部分地区的人口认为与大陆建立更紧密的联系是诅咒,和不断上升的紧张局势已经分裂的一个社区,本来有望帮助GBA的未来经济紧密联系在一起。
这并不预示着许多商界人士眼中最好的长期增长机会香港或大湾地区。“香港的角色越来越GBA企业走向全球的适配器,”贝哲民(Ben Simpfendorfer)说,咨询公司的创始人丝绸之路。“香港需要保持其连接到国际市场。”
北京仍然承诺效忠宪法原则的“一国两制”,但国家安全法今年夏天的实现了快速响应来自美国删除一个长期存在的特殊贸易香港享有特权。这本身“加深悲观”的长期商业前景,根据美国商会发表声明。
北京的决策者们将推进措施,确保香港继续发挥的作用大湾地区的离岸金融中心。所谓的财富管理连接,例如,在6月份宣布,允许居民在香港,澳门和广东投资越过边境。
但不确定性是骑高。研究主管尼古拉斯关颖珊,香港贸易发展局,强调,没有一个开放的和连接的商业和政治环境,城市不能发挥它应有的作用在更广泛的战略。“我们不能仅仅是中国的一部分,”他说。“我们还需要其他国家的一部分。”
有些人会说相同的大海湾地区。是当邓小平打开该地区外国投资四十年前,中国南方动态再一次传的作用推动国家的崛起。但是在中国的时代,像华为,各方受到挑战,大经济增长项目,比如GBA没有成功的保证,和习近平的计划为该地区现在挂在平衡。
——埃德温·陈,高元,金星冯,伊恩•马洛
7月下旬,在这个Disneyland-like企业校园大约一个半小时的车程从香港,华为似乎沉浸在财富从在5 g移动技术的领先地位。没有其他公司做更多的项目技术先进的中国的形象在国际舞台上。没有其他公司是更大的中国与外部世界接触的象征。
华为的向上爬的野心是future-defining的最前沿技术已登陆公司盯上了美国和其他国家政府认为这是一个渠道中国共产党的地缘政治目标。总统在8月中旬美国商务部,在特朗普的方向,旨在削减了另一轮的限制华为的进入商用计算芯片需要5 g基站和智能手机。
GBA的创新能力和集成足够成功,所面临的任务是最挑战美国主导全球反对中国科技在香港和北京的政治镇压。如果GBA的公司可以克服的障碍被放置在他们的道路,他们很可能决定发达和繁荣的中国如何成为习。
的珠江三角洲——中国最富有、最经济最有活力的地区之一,为Xi大湾地区——从森林山在肇庆的混凝土塔香港岛西北东南。习的震中达到高收入的战略地位,结合香港和澳门的前殖民中心到祖国,并完成他所称的“复兴”的中华民族。他希望这个地区大约有7000万人的对手东京湾的集群或圣Francisco-Silicon谷在推动创新中所发挥的作用,企业家精神,和增长。
郭“,一个二十年经验的公司跑业务在欧洲和部分是现在国际媒体事务的总统,部署精辟的轻描淡写的描述华为的困境。“天上的星星会发光向西或向东,”他说,意思会有机会华为是否美国砰地一声把车门关上。“我们不是针对每一位客户。顾客选择华为最终会生活得更好。”
他的行为,限制销售的高端半导体华为,禁止美国人与腾讯控股有限公司做生意的微信应用程序-特朗普威胁收入和产品开发在中国最具创新精神的公司。的重要性,放大了他的行动的时机,这是中国正在升级其行业,许多行业仍然需要来自国外的专业知识来完成开发Xi预计。
中国领导人保持公众对开放的承诺,世界经济全球化中受益的国家在过去的二十年里得这么漂亮。但习也采用封闭狭隘的想法转变回到自给自足的一个工业模型整合到全球供应链。不一定符合中国的利益,杜大伟说,一位前美国财政部使者的国家现在在华盛顿布鲁金斯学会(Brookings Institution)高级研究员。“危险在于如果你觉得你必须应对美国贸易保护主义与中国贸易保护主义,”他说。“如果你沿着这条路,那么这一切愿望成为一个更具创新性经济很绝望。”
大湾地区战略是植根于早期在习近平主席的,都是对中国走向世界通过投资、收购,通过行动和地缘政治伙伴关系建设等“腰带和路”企业。深圳当地政府于2014年首次提出,然后上升到去年公布的中央政府政策蓝图计划概括了野心建立技术中心”的目标是世界上最先进的技术和产业。”
远离北京和靠近大海,珠江三角洲地区一直是中国最具商业和创新的地方。拥挤的岛屿,香港、澳门保持独立的司法管辖区即使在今天,有自己的法律、货币和政治传统的英国和葡萄牙殖民主义的遗产。在香港,当地社会和政治文化之间的差异在边境摩擦的主要来源,在香港有成千上万的人走上街头在去年经常暴力抗议反对共产党控制的增加。
站在深圳的未来塔,就在沼泽边缘从香港,很容易想象技术领先地位是触手可及的目标。仅在这个城市,讲述神话从渔村全球大都市在四十年里,真正的公司声称世界领导他们的家。
十几财富全球500强公司Guangzhou-Hong Kong-Shenzhen集合都市帮助驱动一个万亿美元的经济超过日本出口。该地区研发投入是全国平均水平的两倍,和深圳仅占中国的五分之一以上的高端出口。
华为始于1987年,其创始人任正非反复越过边境,从香港进口电话交换齿轮,然后转卖给客户在中国急需升级通信。今天,员工持股公司已经在大约170个国家销售。公司总部在深圳,奢华接待游客的房间是模仿日本的京都,用点心旨在让高管感觉放心交易之前把电信硬件。
但是国家的列表看到华为作为中国的地缘政治野心的代理正在增长。在美国的带领下,英国禁止公司下一代5 g网络和要求华为技术已经安装在现有设备在2027年被剥夺了。澳大利亚已经关闭了公司,日本。印度可能会抑制华为和科技在深圳的邻居,中兴通讯集团。从其网络,两个国家之间的关系恶化。
这种科技世界经济脱钩可能花费约3.5万亿美元的浪费输出在未来5年内,根据德意志银行(Deutsche Bank AG)在7月份的一份报告。成本产生于额外的研发、供应链需求中断,重路由,将成为必要的电流技术和parts-much已经通过中国改变永久。
已经发生在华为,更广泛地说,在中国。华为说,特朗普5月实施制裁,禁止使用美国技术公司提供中国公司,把它从约2%的进口部件,它不能在其他地方采购。能够完全取代失去的技术可能需要华为一个额外的五到八年,它说;外面估计点到10年或更多。这是“一大损失,”Yu Chengdong,华为消费者业务集团的首席执行官,8月份公开表示。
中国领导人多次表示,从外部压力将使国家技术上加倍努力,迎头赶上。有证据表明,广泛推动正在增加研究和设计能力。中国半导体企业首次公开发行(ipo)提出了创纪录的100亿美元,8月企业寻求本地化供应链。
这正是一种重复的工作,德意志银行(Deutsche Bank)警告说,没有保证本土企业可以弥补他们失去很快从外面。可以离开GBA的位置作为一个领先的技术中心在中国国内市场,但低于世界扮演这个角色。
尽管美国的行动伤害大湾地区的一些科技公司,Covid-19大流行促进了别人。深圳迈瑞生物医疗电子股份有限公司总部是一个适当clinical-looking, 35个描述塔在深圳南山区。它制造等产品,SV800 SV300一系列医疗呼吸器治疗病人受Covid-19严重影响至关重要。
公司的三个founders-including徐航,新加坡居民已经是这个城市国家的富有的人增加了约170亿美元,今年他们的财富加起来的需求飙升。海涛说,黄副总裁迈瑞公司10%的收入带来的资金投入研发,旨在进入全球前20名的医疗设备公司和推动行业的前沿自动化和人工智能。
但迈瑞表示,其医疗设备使用在巴尔的摩的约翰霍普金斯医院和梅奥诊所的校园,永远不得从美国针对免疫。今年8月,作为总统竞选的一部分,民主党候选人乔·拜登发誓要结束美国依赖中国的医疗设备。“部分我们的设备都是在美国生产,”黄说。“为了供应链的安全,我们要遵守所有美国和国际法律。与此同时,我们也积极发展备份计划,其中包括寻找替代供应商。”
创新GBA的主要驱动因素是公司,不是大学,进展的速度更容易受到商业周期和任何个人公司的命运。这里没有伯克利和斯坦福大学。中国最好的思想在科学、技术、工程和数学还是毕业清华大学和北京大学在首都,上海复旦大学,数千公里远。
挑出一个问题的埃里克•郭局长人工智能科学家广东Oppo移动电信公司,全球第五大智能手机制造商。36岁的前微软(Microsoft corp .)研究员从印第安纳州普渡大学的博士学位。
坐在公司的办公室很快取代总部由扎哈·哈迪德设计,郭先生赞扬了在深圳的生活质量。他指出,分支机构的中国一流大学要来深圳,但是需要做更多的工作,因为大学的美丽和有效性的研究,它不是在短期内受到赚钱。“大学是创新的引擎,”他说。
不到20英里之外,在香港市中心,这是大学的学生在2019年夏天,走上街头,抗议首先对一项法律,将侵蚀之间的合法分居前英国殖民地和大陆,然后更普遍反对北京的统治。
在许多方面,香港是做什么总是done-getting继续与中国做生意仍然是大多数外国直接投资流入的漏斗更广泛的GBA。但现在大部分地区的人口认为与大陆建立更紧密的联系是诅咒,和不断上升的紧张局势已经分裂的一个社区,本来有望帮助GBA的未来经济紧密联系在一起。
这并不预示着许多商界人士眼中最好的长期增长机会香港或大湾地区。“香港的角色越来越GBA企业走向全球的适配器,”贝哲民(Ben Simpfendorfer)说,咨询公司的创始人丝绸之路。“香港需要保持其连接到国际市场。”
北京仍然承诺效忠宪法原则的“一国两制”,但国家安全法今年夏天的实现了快速响应来自美国删除一个长期存在的特殊贸易香港享有特权。这本身“加深悲观”的长期商业前景,根据美国商会发表声明。
北京的决策者们将推进措施,确保香港继续发挥的作用大湾地区的离岸金融中心。所谓的财富管理连接,例如,在6月份宣布,允许居民在香港,澳门和广东投资越过边境。
但不确定性是骑高。研究主管尼古拉斯关颖珊,香港贸易发展局,强调,没有一个开放的和连接的商业和政治环境,城市不能发挥它应有的作用在更广泛的战略。“我们不能仅仅是中国的一部分,”他说。“我们还需要其他国家的一部分。”
有些人会说相同的大海湾地区。是当邓小平打开该地区外国投资四十年前,中国南方动态再一次传的作用推动国家的崛起。但是在中国的时代,像华为,各方受到挑战,大经济增长项目,比如GBA没有成功的保证,和习近平的计划为该地区现在挂在平衡。
——埃德温·陈,高元,金星冯,伊恩•马洛
At a new 400-acre research-and-development center on China\u2019s south coast, Huawei<\/a> Technologies Co. engineers chat, tap at their phones, or chill out on a small electric tram that whirs them between buildings modeled variously on the Sorbonne or England\u2019s great universities. They move through neighbourhoods built in the style of Versailles or Renaissance Italy, passing by some of the 3,000 gardening and maintenance staff needed to keep the vast parklands immaculate.
It\u2019s late July, and on this Disneyland-like corporate campus about an hour and a half\u2019s drive from Hong Kong, Huawei seems to be basking in the wealth from its leadership in 5G mobile technology. No other company has done more to project the image of a technologically advanced China on the international stage. And no other company stands as a greater symbol of China\u2019s engagement with the outside world.
Huawei\u2019s vaulting ambition to be at the forefront of future-defining technologies has landed the company in the crosshairs of the U.S. and other governments that see it as a conduit for the geopolitical objectives of the Chinese Communist Party. In mid-August the U.S. Department of Commerce, at President Trump\u2019s direction, handed down yet another round of restrictions aimed at cutting Huawei\u2019s access to commercially available computing chips it needs to make 5G base stations and smartphones.
It\u2019s late July, and on this Disneyland-like corporate campus about an hour and a half\u2019s drive from Hong Kong, Huawei seems to be basking in the wealth from its leadership in 5G mobile technology. No other company has done more to project the image of a technologically advanced China on the international stage. And no other company stands as a greater symbol of China\u2019s engagement with the outside world.
Huawei\u2019s vaulting ambition to be at the forefront of future-defining technologies has landed the company in the crosshairs of the U.S. and other governments that see it as a conduit for the geopolitical objectives of the Chinese Communist Party. In mid-August the U.S. Department of Commerce, at President Trump\u2019s direction, handed down yet another round of restrictions aimed at cutting Huawei\u2019s access to commercially available computing chips it needs to make 5G base stations and smartphones.
<\/div><\/div>The fortunes of China\u2019s largest technology company by revenue are entwined with a vast project that\u2019s now the front line of the hugely consequential tech war between the U.S. and China: the Greater Bay Area, a region tasked by President Xi Jinping<\/a> with pushing the nation toward global technology leadership.
The GBA\u2019s ability to innovate and integrate enough to succeed in that task is facing its stiffest challenge yet from a U.S.-led global backlash against Chinese tech and Beijing\u2019s political crackdown in Hong Kong. If the GBA\u2019s companies can surmount the obstacles being placed in their path, they could well determine how advanced and prosperous China can become under Xi.
The Pearl River Delta<\/a> \u2014 long one of China\u2019s richest and most economically dynamic regions and rebranded by Xi as the Greater Bay Area \u2014 stretches from the forested hills around Zhaoqing in the northwest to the concrete towers of Hong Kong Island in the southeast. It\u2019s the epicenter of Xi\u2019s strategy to attain high-income status, bind the former colonial centers of Hong Kong and Macao into the motherland, and complete what he calls the \u201crejuvenation\u201d of the Chinese nation. He wants this region of about 70 million people to rival the clusters of Tokyo Bay or San Francisco-Silicon Valley and the role they play in driving innovation, entrepreneurship, and growth.
The GBA\u2019s ability to innovate and integrate enough to succeed in that task is facing its stiffest challenge yet from a U.S.-led global backlash against Chinese tech and Beijing\u2019s political crackdown in Hong Kong. If the GBA\u2019s companies can surmount the obstacles being placed in their path, they could well determine how advanced and prosperous China can become under Xi.
The Pearl River Delta<\/a> \u2014 long one of China\u2019s richest and most economically dynamic regions and rebranded by Xi as the Greater Bay Area \u2014 stretches from the forested hills around Zhaoqing in the northwest to the concrete towers of Hong Kong Island in the southeast. It\u2019s the epicenter of Xi\u2019s strategy to attain high-income status, bind the former colonial centers of Hong Kong and Macao into the motherland, and complete what he calls the \u201crejuvenation\u201d of the Chinese nation. He wants this region of about 70 million people to rival the clusters of Tokyo Bay or San Francisco-Silicon Valley and the role they play in driving innovation, entrepreneurship, and growth.
<\/div><\/div>Huawei reflects Xi\u2019s grand vision for the Pearl River Delta. But as pressure from the Trump administration grows, executives of the company, which had a record $122 billion in sales last year, show signs of recognizing the changing, narrowing world in which they\u2019re now living.
Guo Fulin, a two-decade veteran of the company who ran parts of its business in Europe and is now its president of international media affairs, deploys gnomic understatement to describe Huawei\u2019s predicament. \u201cThe star in the sky will shine either to the west or to the east,\u201d he says, meaning there will be opportunities for Huawei whether the U.S. slams the door shut or not. \u201cWe are not targeting every customer in the world. Customers who choose Huawei will eventually live better.\u201d
With his actions \u2014 restricting sales of high-end semiconductors to Huawei, banning Americans from doing business with Tencent Holdings Ltd.\u2019s WeChat app \u2014 Trump threatened revenue and product development at China\u2019s most innovative companies. The importance of that is magnified by the timing of his actions, which come as China is upgrading its industries, with many sectors still in need of expertise from abroad to complete the development Xi expects.
China\u2019s leaders maintain their public commitment to the open, globalized world economy that\u2019s benefited the nation so handsomely over the past two decades. But Xi is also adopting inward-looking ideas of self-sufficiency in a shift back to an industrial model less integrated into global supply chains. That\u2019s not necessarily in China\u2019s interest, says David Dollar, a former U.S. Treasury emissary to the country who\u2019s now a senior fellow at the Brookings Institution in Washington. \u201cThe danger is if you feel you have to respond to the U.S. protectionism with Chinese protectionism,\u201d he says. \u201cIf you go down that road, then all this aspiration to become a more innovative economy is pretty hopeless.\u201d
The Greater Bay Area strategy is rooted in an earlier time in Xi\u2019s chairmanship that was all about China going out into the world through investment, acquisitions, and geopolitical partnership-building through initiatives such as the \u201cBelt and Road\u201d enterprise. First mooted by Shenzhen local authorities in 2014, and then elevated into a central government policy blueprint unveiled last year, the plan outlines the ambition to build a tech hub to \u201ctarget the most advanced technologies and industries in the world.\u201d
Far from Beijing and close to the open sea, the Pearl River Delta has long been China\u2019s most mercantile and innovative place. The crowded islands that form Hong Kong and Macao remain separate jurisdictions even today, with their own laws, currencies, and political traditions shaped by the legacy of British and Portuguese colonialism. In Hong Kong, the differences between local society and the political culture across the border are a major source of friction, with hundreds of thousands of people in Hong Kong taking to the streets in often violent protests last year to push back against increased control by the Communist Party.
Standing among the futuristic towers of Shenzhen, just across the marshy borderland from Hong Kong, it\u2019s easy to imagine the goal of technological leadership being within reach. In this city, mythologized as rising from a mere fishing village to a global metropolis within four decades, companies with a genuine claim to world leadership have their home.
More than a dozen Fortune Global 500 companies in the Guangzhou-Hong Kong-Shenzhen conurbation help drive a trillion-dollar economy that exports more than Japan does. The region spends double the national average on R&D, and Shenzhen alone accounts for more than a fifth of China\u2019s high-end exports.
Huawei began in 1987 with its founder, Ren Zhengfei, repeatedly crossing the border, importing telephone switching gear from Hong Kong that he then resold to customers in China who were desperate for upgraded communications. Today the employee-owned company has sales in about 170 countries. At its corporate headquarters in Shenzhen, lavish reception rooms for visitors are modeled on Japan\u2019s old Kyoto, with refreshments intended to make executives feel at ease before being pitched for deals on telecom hardware.
But the list of nations that see Huawei as a proxy for China\u2019s geopolitical ambitions is growing. Following the U.S. lead, the U.K. is banning the company from its next-generation 5G networks and requiring that Huawei technology already installed in existing equipment be stripped out by 2027. Australia has shut the company out, as has Japan. India may curb Huawei and its tech neighbor in Shenzhen, ZTE Corp.<\/a>, from its networks as relations between the two states deteriorate.
This kind of tech decoupling could cost the world economy some $3.5 trillion in wasted output over the next five years, according to a report in July by Deutsche Bank AG. The costs arise from extra R&D, demand disruption, and supply chain rerouting that would become necessary if the current flow of know-how and parts\u2014much of which already passes through China\u2014shifts permanently.
That\u2019s already happening at Huawei and, more broadly, in China. Huawei says that Trump sanctions enacted in May, which forbid companies using U.S. technology from supplying the Chinese company, cut it off from about 2% of its imported parts, which can\u2019t be sourced elsewhere. To be able to completely replace lost technology could take Huawei an additional five to eight years, it says; outside estimates point to 10 years or more. That\u2019s \u201ca big loss for us,\u201d Yu Chengdong, chief executive officer of Huawei\u2019s consumer business group, said publicly in August.
Chinese leaders have frequently said that pressure from the outside will make the nation redouble its efforts to catch up technologically. There\u2019s evidence that a broad push is under way to increase research and design capacity. Initial public offerings by Chinese semiconductor companies had raised a record $10 billion as of August as companies seek to localize supply chains.
That\u2019s exactly the kind of duplication of effort that Deutsche Bank warns of, and there\u2019s no guarantee that local companies can make up for what they\u2019ve lost from the outside anytime soon. That could leave the GBA in the position of being a leading tech hub within and for China\u2019s domestic market, but falling short of playing that role for the world.
Even as U.S. actions have hurt some tech companies in the Greater Bay Area, the Covid-19 pandemic has boosted others. The headquarters of Shenzhen Mindray Bio-Medical Electronics Co. is an appropriately clinical-looking, 35-story tower in Shenzhen\u2019s Nanshan District. It manufactures, among other products, the SV800 and SV300 series of medical ventilators vital to treating patients severely affected by Covid-19.
The company\u2019s three founders\u2014including Li Xiting, a Singapore resident who was already the city-state\u2019s second-richest man\u2014had added about $17 billion to their combined wealth this year as demand soared. Mindray Vice President Huang Haitao says the company, which plows 10% of revenue back into R&D, aims to break into the global top 20 of medical equipment companies and push the industry<\/a>\u2019s frontiers into automation and artificial intelligence.
But Mindray, which says its medical equipment is used in the Johns Hopkins Hospital in Baltimore and at Mayo Clinic campuses, may not be immune from U.S. targeting forever. In August, as part of his presidential campaign, Democratic Party candidate Joe Biden vowed to end American reliance on Chinese medical equipment. \u201cSome parts of our equipment are manufactured in the U.S.,\u201d Huang says. \u201cFor the sake of supply chain safety, we\u2019ll abide by all American and international laws. At the same time, we\u2019re also actively developing backup plans, which include looking for alternative suppliers.\u201d
Innovation in the GBA is driven largely by companies, not universities, making the pace of progress more susceptible to the business cycle and the fortunes of any individual company. There is no Berkeley or Stanford here. China\u2019s best minds in science, technology, engineering, and mathematics still graduate from Tsinghua and Peking universities in the capital and Fudan University in Shanghai, thousands of kilometers away.
That\u2019s an issue singled out by Eric Guo, chief artificial intelligence scientist at Guangdong Oppo Mobile Telecommunications Corp., the world\u2019s fifth-largest smartphone manufacturer. The 36-year-old former Microsoft Corp. researcher has a Ph.D. from Purdue University in Indiana.
Sitting in corporate offices soon to be superseded by headquarters designed by Zaha Hadid, Guo praises the quality of life in Shenzhen. He points out that branches of China\u2019s top-flight colleges are coming to Shenzhen, but more needs to be done, because the beauty and efficacy of university research is that it\u2019s not constrained by making money in the short term. \u201cUniversities are the engines of innovation,\u201d he says.
Less than 20 miles away, in central Hong Kong, it was university students who took to the streets during the summer of 2019, protesting first against a law that would erode the legal separation between the former British colony and the mainland, and then more generally against Beijing\u2019s rule over the city.
In many ways, Hong Kong is doing what it\u2019s always done\u2014getting on with doing business with China\u2014and it\u2019s still the funnel through which most foreign direct investment flows into the wider GBA. But large parts of its population now see closer ties with the mainland as anathema, and rising tensions have divided a community that might have been expected to help knit together the GBA\u2019s future economy.
That doesn\u2019t bode well for what many in the business community see as the best long-term growth opportunities for either Hong Kong or the Greater Bay Area. \u201cHong Kong\u2019s role is getting GBA companies to go global\u2014a kind of adapter,\u201d says Ben Simpfendorfer, founder of consulting firm Silk Road Associates. \u201cHong Kong needs to retain its connectivity to international markets.\u201d
Beijing still pledges allegiance to the constitutional principle of \u201cone country, two systems,\u201d but the implementation of a national security law this past summer drew a quick response from the U.S., which removed a long-standing special trade privilege Hong Kong had enjoyed. That in itself \u201cdeepens pessimism\u201d about the long-term business prospects in the city, according to a statement issued by the American Chamber of Commerce.
Policymakers in Beijing are plowing ahead with measures to ensure Hong Kong continues to play its role as the offshore financial center of the Greater Bay Area. The so-called Wealth Management Connect, for example, was announced in June, allowing residents in Hong Kong, Macao, and Guangdong to invest across the border.
But uncertainty is riding high. Nicholas Kwan, head of research for the Hong Kong Trade Development Council, stresses that without an open and connected business and political environment, the city can\u2019t play its proper role in the broader strategy. \u201cWe can\u2019t just be part of China,\u201d he says. \u201cWe also have to be part of the rest of the world.\u201d
Some would say the same of the Greater Bay Area. As it was when Deng Xiaoping opened the region to foreign investment four decades ago, China\u2019s dynamic south has once more been handed the role of driving the nation\u2019s rise. But in an era when China, like Huawei, is being challenged on all sides, grand economic growth projects like the GBA have no guarantee of success, and Xi\u2019s plans for the region now hang in the balance.
\u2014 With Edwin Chan, Gao Yuan, Venus Feng, and Iain Marlow<\/em><\/strong>
<\/div><\/div>
Guo Fulin, a two-decade veteran of the company who ran parts of its business in Europe and is now its president of international media affairs, deploys gnomic understatement to describe Huawei\u2019s predicament. \u201cThe star in the sky will shine either to the west or to the east,\u201d he says, meaning there will be opportunities for Huawei whether the U.S. slams the door shut or not. \u201cWe are not targeting every customer in the world. Customers who choose Huawei will eventually live better.\u201d
With his actions \u2014 restricting sales of high-end semiconductors to Huawei, banning Americans from doing business with Tencent Holdings Ltd.\u2019s WeChat app \u2014 Trump threatened revenue and product development at China\u2019s most innovative companies. The importance of that is magnified by the timing of his actions, which come as China is upgrading its industries, with many sectors still in need of expertise from abroad to complete the development Xi expects.
China\u2019s leaders maintain their public commitment to the open, globalized world economy that\u2019s benefited the nation so handsomely over the past two decades. But Xi is also adopting inward-looking ideas of self-sufficiency in a shift back to an industrial model less integrated into global supply chains. That\u2019s not necessarily in China\u2019s interest, says David Dollar, a former U.S. Treasury emissary to the country who\u2019s now a senior fellow at the Brookings Institution in Washington. \u201cThe danger is if you feel you have to respond to the U.S. protectionism with Chinese protectionism,\u201d he says. \u201cIf you go down that road, then all this aspiration to become a more innovative economy is pretty hopeless.\u201d
The Greater Bay Area strategy is rooted in an earlier time in Xi\u2019s chairmanship that was all about China going out into the world through investment, acquisitions, and geopolitical partnership-building through initiatives such as the \u201cBelt and Road\u201d enterprise. First mooted by Shenzhen local authorities in 2014, and then elevated into a central government policy blueprint unveiled last year, the plan outlines the ambition to build a tech hub to \u201ctarget the most advanced technologies and industries in the world.\u201d
Far from Beijing and close to the open sea, the Pearl River Delta has long been China\u2019s most mercantile and innovative place. The crowded islands that form Hong Kong and Macao remain separate jurisdictions even today, with their own laws, currencies, and political traditions shaped by the legacy of British and Portuguese colonialism. In Hong Kong, the differences between local society and the political culture across the border are a major source of friction, with hundreds of thousands of people in Hong Kong taking to the streets in often violent protests last year to push back against increased control by the Communist Party.
Standing among the futuristic towers of Shenzhen, just across the marshy borderland from Hong Kong, it\u2019s easy to imagine the goal of technological leadership being within reach. In this city, mythologized as rising from a mere fishing village to a global metropolis within four decades, companies with a genuine claim to world leadership have their home.
More than a dozen Fortune Global 500 companies in the Guangzhou-Hong Kong-Shenzhen conurbation help drive a trillion-dollar economy that exports more than Japan does. The region spends double the national average on R&D, and Shenzhen alone accounts for more than a fifth of China\u2019s high-end exports.
Huawei began in 1987 with its founder, Ren Zhengfei, repeatedly crossing the border, importing telephone switching gear from Hong Kong that he then resold to customers in China who were desperate for upgraded communications. Today the employee-owned company has sales in about 170 countries. At its corporate headquarters in Shenzhen, lavish reception rooms for visitors are modeled on Japan\u2019s old Kyoto, with refreshments intended to make executives feel at ease before being pitched for deals on telecom hardware.
But the list of nations that see Huawei as a proxy for China\u2019s geopolitical ambitions is growing. Following the U.S. lead, the U.K. is banning the company from its next-generation 5G networks and requiring that Huawei technology already installed in existing equipment be stripped out by 2027. Australia has shut the company out, as has Japan. India may curb Huawei and its tech neighbor in Shenzhen, ZTE Corp.<\/a>, from its networks as relations between the two states deteriorate.
This kind of tech decoupling could cost the world economy some $3.5 trillion in wasted output over the next five years, according to a report in July by Deutsche Bank AG. The costs arise from extra R&D, demand disruption, and supply chain rerouting that would become necessary if the current flow of know-how and parts\u2014much of which already passes through China\u2014shifts permanently.
That\u2019s already happening at Huawei and, more broadly, in China. Huawei says that Trump sanctions enacted in May, which forbid companies using U.S. technology from supplying the Chinese company, cut it off from about 2% of its imported parts, which can\u2019t be sourced elsewhere. To be able to completely replace lost technology could take Huawei an additional five to eight years, it says; outside estimates point to 10 years or more. That\u2019s \u201ca big loss for us,\u201d Yu Chengdong, chief executive officer of Huawei\u2019s consumer business group, said publicly in August.
Chinese leaders have frequently said that pressure from the outside will make the nation redouble its efforts to catch up technologically. There\u2019s evidence that a broad push is under way to increase research and design capacity. Initial public offerings by Chinese semiconductor companies had raised a record $10 billion as of August as companies seek to localize supply chains.
That\u2019s exactly the kind of duplication of effort that Deutsche Bank warns of, and there\u2019s no guarantee that local companies can make up for what they\u2019ve lost from the outside anytime soon. That could leave the GBA in the position of being a leading tech hub within and for China\u2019s domestic market, but falling short of playing that role for the world.
Even as U.S. actions have hurt some tech companies in the Greater Bay Area, the Covid-19 pandemic has boosted others. The headquarters of Shenzhen Mindray Bio-Medical Electronics Co. is an appropriately clinical-looking, 35-story tower in Shenzhen\u2019s Nanshan District. It manufactures, among other products, the SV800 and SV300 series of medical ventilators vital to treating patients severely affected by Covid-19.
The company\u2019s three founders\u2014including Li Xiting, a Singapore resident who was already the city-state\u2019s second-richest man\u2014had added about $17 billion to their combined wealth this year as demand soared. Mindray Vice President Huang Haitao says the company, which plows 10% of revenue back into R&D, aims to break into the global top 20 of medical equipment companies and push the industry<\/a>\u2019s frontiers into automation and artificial intelligence.
But Mindray, which says its medical equipment is used in the Johns Hopkins Hospital in Baltimore and at Mayo Clinic campuses, may not be immune from U.S. targeting forever. In August, as part of his presidential campaign, Democratic Party candidate Joe Biden vowed to end American reliance on Chinese medical equipment. \u201cSome parts of our equipment are manufactured in the U.S.,\u201d Huang says. \u201cFor the sake of supply chain safety, we\u2019ll abide by all American and international laws. At the same time, we\u2019re also actively developing backup plans, which include looking for alternative suppliers.\u201d
Innovation in the GBA is driven largely by companies, not universities, making the pace of progress more susceptible to the business cycle and the fortunes of any individual company. There is no Berkeley or Stanford here. China\u2019s best minds in science, technology, engineering, and mathematics still graduate from Tsinghua and Peking universities in the capital and Fudan University in Shanghai, thousands of kilometers away.
That\u2019s an issue singled out by Eric Guo, chief artificial intelligence scientist at Guangdong Oppo Mobile Telecommunications Corp., the world\u2019s fifth-largest smartphone manufacturer. The 36-year-old former Microsoft Corp. researcher has a Ph.D. from Purdue University in Indiana.
Sitting in corporate offices soon to be superseded by headquarters designed by Zaha Hadid, Guo praises the quality of life in Shenzhen. He points out that branches of China\u2019s top-flight colleges are coming to Shenzhen, but more needs to be done, because the beauty and efficacy of university research is that it\u2019s not constrained by making money in the short term. \u201cUniversities are the engines of innovation,\u201d he says.
Less than 20 miles away, in central Hong Kong, it was university students who took to the streets during the summer of 2019, protesting first against a law that would erode the legal separation between the former British colony and the mainland, and then more generally against Beijing\u2019s rule over the city.
In many ways, Hong Kong is doing what it\u2019s always done\u2014getting on with doing business with China\u2014and it\u2019s still the funnel through which most foreign direct investment flows into the wider GBA. But large parts of its population now see closer ties with the mainland as anathema, and rising tensions have divided a community that might have been expected to help knit together the GBA\u2019s future economy.
That doesn\u2019t bode well for what many in the business community see as the best long-term growth opportunities for either Hong Kong or the Greater Bay Area. \u201cHong Kong\u2019s role is getting GBA companies to go global\u2014a kind of adapter,\u201d says Ben Simpfendorfer, founder of consulting firm Silk Road Associates. \u201cHong Kong needs to retain its connectivity to international markets.\u201d
Beijing still pledges allegiance to the constitutional principle of \u201cone country, two systems,\u201d but the implementation of a national security law this past summer drew a quick response from the U.S., which removed a long-standing special trade privilege Hong Kong had enjoyed. That in itself \u201cdeepens pessimism\u201d about the long-term business prospects in the city, according to a statement issued by the American Chamber of Commerce.
Policymakers in Beijing are plowing ahead with measures to ensure Hong Kong continues to play its role as the offshore financial center of the Greater Bay Area. The so-called Wealth Management Connect, for example, was announced in June, allowing residents in Hong Kong, Macao, and Guangdong to invest across the border.
But uncertainty is riding high. Nicholas Kwan, head of research for the Hong Kong Trade Development Council, stresses that without an open and connected business and political environment, the city can\u2019t play its proper role in the broader strategy. \u201cWe can\u2019t just be part of China,\u201d he says. \u201cWe also have to be part of the rest of the world.\u201d
Some would say the same of the Greater Bay Area. As it was when Deng Xiaoping opened the region to foreign investment four decades ago, China\u2019s dynamic south has once more been handed the role of driving the nation\u2019s rise. But in an era when China, like Huawei, is being challenged on all sides, grand economic growth projects like the GBA have no guarantee of success, and Xi\u2019s plans for the region now hang in the balance.
\u2014 With Edwin Chan, Gao Yuan, Venus Feng, and Iain Marlow<\/em><\/strong>
<\/div><\/div>
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