China’s active approach to governing social welfare goals in the age of big tech has become a widely known attribute of the CCP’s modus operandi in recent years. However, according to a panel of experts who were invited to speak by the Foreign Correspondents’ Club, this starkly contrasting approach to regulation in the West poses a myriad of uncertainties for some of its largest companies looking to raise capital in U.S. equity markets, and have stoked concerns of data privacy and national security risks for both the U.S. and Chinese governments. 

“The content regulation part of the fan and gaming economy is saying, ‘Hey, these types of activities we don’t want to see our youth engaging in, and we don’t want to see this driving our social media and getting the attention of society, we don’t think it’s healthy,’” said Rui Ma, founder of Tech Buzz China. “‘We don’t think it’s moral’ – you could say that is political, or you could say that also actually that’s been very evident from day one, this has been part of policy in general.”

Paul Triolo, head of the geo-technology practice at the Eurasia Group, highlighted the regulatory complexities for Chinese firms tapping foreign capital with U.S. stock listings: “How viable is the VIE structure from a U.S. regulatory point of view?”

“There needs to be more transparency in revealing regulatory risk, and also just emphasizing for U.S. investors that the VIE structure does not mean ownership in a Chinese company but in a shell company in the Cayman Islands,” said Triolo. “There’s a sense that there has to be some level of collaboration here so that you don’t disrupt financial markets, and big areas of business where there still tremendous amounts of dependence between the two economies.”

“The political climate doesn’t allow the current administration to be too close to China, so at the end of the day, I’m still very optimistic in terms of some of the biggest issues the world is truly facing, such as climate change and pandemic. It does require the world’s two largest economies to work together,” said Jennifer Zhu, executive chairman of the Commons Project. 

“The most important thing is that we’re not going to see many Chinese tech companies listing in the U.S., and they will choose domestic stock markets — and when I say domestic, I’m for the first time including Hong Kong as well.”

Watch the full discussion below:

On September 1, Dr. Trisha Leahy, chief executive officer of the Hong Kong Sports Institute (HKSI), joined the FCC for an in-person discussion about the lead-up to Hong Kong’s Olympic success. “These are the results of the system we’ve been building for the last eight to 12 years,” said Leahy.

When Edgar Cheung Ka-long earned a gold medal in fencing – ending Hong Kong’s 25-year gold medal hiatus – some spectators expressed surprise. Many did not realise that the city had a strong fencing culture, let alone an international star competing in the sport. But anyone who had been following Chinese-language coverage of Hong Kong’s elite athletes would have known Cheung was among the favoured competitors, said Leahy.

“I’d really like to see more English-language coverage – I’ve been complaining about the lack of it for years,” said Leahy. Chinese-language media has covered Cheung and his Olympic teammates for some time, making them household names for Hong Kong’s athletics fans, she explained. But English-language coverage of Hong Kong’s athletes has been lacking, creating a sense of surprise when the city brought home Olympic medals.

Hong Kong’s efforts to become a hub of world-renowned athletes started a long time back, said Leahy. Some factors – like population size, physiological profiles, familial support, and self-motivation – are nigh-impossible to manipulate. But funding for proper facilities, coaches, medical staff, and education support can be controlled. That’s where the government has stepped in, said Leahy. 

In the 2021-2022 budget, the government invested HK$737 million in HKSI via the Elite Athletes Development Fund – roughly 42 percent more than in 2017-2018. What’s more, construction workers broke ground on the Kai Tak Sports Park in 2019 and the government allocated HK$990 million in August 2021 to expand the HKSI facilities.

When it comes to training, Hong Kong elite athletes start young, practising regularly and eventually train full-time to reach a goal like the Olympics. By the time athletes make it to the Games, it’s generally clear who has the potential to rank in the top tier.

“We’re not surprised because we’re constantly tracking results,” said Leahy. Groups like the HKSI monitor the four-year cycles of junior and senior competitions. Athletes who can place in the top three globally in the two years prior to the Olympics tend to have the best chance of winning a medal, said Leahy. 

Watch the full event here:

The history of China may be long, but it’s not necessarily that complicated according to Linda Jaivin, author of The Shortest History of China, which runs less than 300 pages. In a Zoom talk hosted by the Foreign Correspondents’ Club, Hong Kong, she identified several recurring themes which are key to understanding China no matter what time period you’re looking at: corruption; anxiety over orderly succession; and stress over borders, different countries and tribal groups. 

“When we talk about China, it’s a constantly evolving concept,” said Jaivin, who said her book is filled with wild characters, arts and culture and stories of women who have played important roles in Chinese history. 

The author also spoke about what she called China’s “woman problem,” arguing that there is a lack of gender equality and a lack of women in prominent positions of power in spite of communist ideals of everyone being equal. 

Placing the Chinese Communist Party in a historical context, Jaivin said that the party cloaks itself in Confucian themes. The reality, she said, is that many of its policies, including the social credit system, have a Legalist slant, i.e. “do the right thing and get rewarded.”

Still, she said, “the Communist Party is in power because it does the right thing.”

Watch the full discussion below:

In the spring, distressing scenes of India’s second coronavirus wave spread across the globe, showing hospitals desperately trying to cope with an unprecedented surge in admissions and dwindling oxygen supplies. As a result, experts were left wondering, ‘What could we have learnt from the first wave to more adequately prepare?’, ‘What evidence and logic is guiding decision making?’, and ‘What impact will lockdowns and supply chain disruptions have on India’s already declining GDP growth prior to the pandemic?’ 

To get answers to these questions, Bloomberg correspondent and FCC Correspondent Governor Iain Marlow moderated an insightful discussion on India’s handling of the first and second waves of the COVID-19 pandemic with a panel of revered experts of global health, public policy and economics.

“To me, in some ways the most visible political act of the second wave that ran thought he month of April and May was the national government completely abdicating itself of all responsibility, and trying to push blame [and] responsibility on to state governments,” said Yamini Aiyar, President of New Delhi’s Center for Policy Research. She went on to discuss the implications of an extreme push toward centralized decision making by Narendra Modi’s government, in a country long governed by complex state and religious laws.

Devaki Nambiar, program head at Australia’s George Institute for Global Health discussed the importance of healthcare infrastructure in handling the COVID-19 pandemic alongside concurrent health emergencies such as a Zika outbreak in Kerala and a Calicut airplane crash, as well as “extraordinary exclusion[s]” stemming from English-based vaccine registration platforms “in a country where just about 4% of the rural population has access to computers.”

Mihir Sharma, Bloomberg Opinion columnist and research fellow at India’s Observer Research Foundation, outlined the challenges of surveying India’s large informal workforce noting, “We’re probably not going to know for the next 6-8 months exactly what the situation is in terms of employment and welfare on the ground”. 

With declining GDP and tax revenue leading to a “situation where for the foreseeable future, for the years to come, we are a 90% or 85%-90% debt-to-GDP country… that makes a big difference to what the government thinks, and what the government thinks it can take on in terms of welfare, in terms of growth and in terms of supporting Indian citizens through what will be a fairly problematic return to normal,” said Sharma.

Watch the full discussion below:

In a lunch talk hosted by the Foreign Correspondents’ Club, Hong Kong, Fox Sports Asia analyst and FCC member Matthew Marsh gave a behind-the-scenes look at F1 in the age of COVID. 

He highlighted F1’s now Executive Chairman, Chase Carey, as “the person who performed best… [leading] a team that put on 17 races across 12 countries” in 2020 as the sport grappled with challenges brought about by the pandemic. He added that F1 is “much more financially sustainable now than it was before.”

Having presented much of his F1 coverage from his home in Hong Kong during the pandemic, Marsh also discussed the nuances of in-person versus remote journalism, and he shared his thoughts on how F1 coverage after COVID may evolve. 

“As a journalist, being able to talk to other journalists, being able to talk to team people, being able to watch the way they behave is critical,” said Marsh, comparing the experience of firsthand, in-person reporting versus remote reporting.

The flip side of that is… when I interview drivers on Zoom or whatever it is we’re using, it’s better. Would you believe?” said Marsh.

“When it’s one on one… the person looks at me the same way they probably do with their friends.”

Watch the full event below:

Tensions and territorial disputes in the South China Sea are unlikely to result in warfare because of the Philippines’ mutual defence treaty with the United States, said former Philippine Supreme Court Justice Antonio T. Carpio. 

“The Chinese know that they cannot afford to go to war with the Philippines,” Justice Carpio told FCC President Keith Richburg during a Zoom discussion on Monday night. “The last thing China would want is to give the US a legal excuse to intervene in the South China Sea dispute.”

Justice Carpio, who helped the Philippines win its landmark ruling at the Hague in July 2016, said that China’s strategy rests on intimidating other nations. He described the country’s mindset as “China will win the South China Sea without firing a single shot.”

He sharply criticised President Rodrigo Duterte’s comments regarding the South China Sea dispute during his final State of the Nation Address hours earlier. Duterte had reiterated his passive approach to the territorial conflict, asking “Do you want war against China?”

“We laugh at that because nobody’s talking of war in the South China Sea dispute,” Justice Carpio said. “That’s the reason we went to the Hague, because war is not an option.”

He said Duterte’s comments were misleading, and that the president has “become the spokesperson of China” by arguing that enforcing the ruling will lead to a military conflict. 

Duterte is currently finishing out his final term, and presidential elections are due in 2022, but Justice Carpio said he did not believe that the South China Sea issue or relations with China would be major issues for most Filipino voters.

Watch the full discussion here:

The proliferation of online disinformation sites purporting to be legitimate news has created an incredibly difficult and hostile environment for journalism, said Marty Baron, former executive editor of The Washington Post, in a discussion moderated by FCC President Keith Richburg. 

“Consumption of media is now more polarised than it probably ever has been, and that’s not a great result for us,” Baron said. “Because in order to have a democracy, you have to share a common set of facts.” 

He said that increased education around media literacy and journalists being more transparent about their reporting were both necessary steps to combat the unchecked spread of disinformation. 

Asked if President Trump had been successful in sowing distrust against the media, Baron said yes but acknowledged that Trump’s cries of ‘fake news’ had not been the sole cause. 

“Approval and trust in the media was declining well before that, but he accelerated and reinforced it,” Baron said. “Sadly, he accomplished what he wanted to accomplish, disturbingly so, and we’re going to be dealing with that for decades to come.” 

During the discussion, Baron was asked about Post reporter Felicia Sonmez’s suspension and ban from covering sexual assault stories, with viewer Wayne Ma submitting the question, “Do you regret those decisions, what was the original thinking behind them and what has the Post done to ensure such incidents don’t happen again?” 

Baron said he did not want to comment on the case specifically but added “I don’t have any regrets.” As he was talking to the FCC, Sonmez filed a lawsuit in Washington D.C. against the Washington Post and several individuals including Baron.

Watch the full discussion below: