The Globalist Podcast, Friday, August 18: The US, Japan and South Korea gather for unprecedented trilateral talks, Spain’s prime minister, Pedro Sanchez, makes a deal with the Catalan separatist party and World Cup fever takes over Brisbane ahead of Sunday’s final.
Plus: the latest papers from Zürich, a roundup of the climate news with Monocle’s Edmonton correspondent, Sheena Rossiter, and the rise of Brazilian wine.
Xi Jinping wants them to focus on the party’s goals. Many cannot see why they should
The crowd did not seem excited to see George Michael and Andrew Ridgeley. When Wham! became the first Western pop group to perform in Communist China, the audience was instructed to stay in their seats. It was 1985 and, despite appearances, the young people in attendance were in fact joyous. The country around them was by no means free, but it was starting to reform and open up. Over the next three decades the economy would grow at a rapid pace, producing new opportunities.
Young Chinese have little hope for the future. Xi Jinping wants them to toughen up
In the southern city of Huizhou an electronics factory is hiring. The monthly salary on offer is between 4,500 and 6,000 yuan (or $620 and $830), enough to pay for food and essentials, but not much else. The advertisement says new employees are expected to “work hard and endure hardship”. The message might have resonated with Chinese of an older generation, many of whom worked long hours in poor conditions to give their children a brighter future. But many of those children now face similar drudgery—and are unwilling to endure it. “I can’t sit on an assembly line,” says Zhang, a 20-something barista with dyed-red hair at a local tea shop. He scoffs at the idea of making such sacrifices for so little gain. The job at the tea shop pays just 4,000 yuan a month, but he enjoys chatting up customers.
Video timeline: 0:00 Taiwan’s current strategy 1:38 The problem 4:15 Taiwan’s reliance on allies
In the east, Taiwan’s rugged mountain terrain also helps create a natural shield in the event of an attack. But China’s PLA activity on the island’s east has thrown that strategy into question. WSJ takes a look at how serious China’s threats to Taiwan’s east coast are and explores whether the island needs to change its defense strategy.
August 13, 2023 – Emma Nelson, Nina dos Santos and John Everard unpack the weekend’s hottest topics. Plus: check-ins with Petri Burtsoff in Helsinki and Hannah Lucinda Smith in Istanbul.
Although the Taiwanese live in a high-tech world, they are still firmly anchored by ancient traditions. During the course of his life, Lin Liang-tai has created many elaborately adorned wooden boats. But they’re not built to last, as they’re destined for Taiwan’s legendary Wang Ye Festival. As part of the temple ceremony to honor the goddess of the sea, a 10-meter boat is blessed, loaded with offerings and pulled through the village down to the beach.
There, it’s set alight, burning any evil spirits that might be lurking about the place. Shrimps are all the rage in Taiwan. In large halls across the entire island, shrimps can be fished out of huge tanks and put straight on the barbecue. Zhan Jia-ming runs one of these popular shrimp halls, and tips bucketloads of fresh shrimps into the tanks every hour. Oysters are a mainstay of Taiwanese cuisine, whether boiled, fried or made into oyster sauce. On the west coast, oyster farms sustain entire village communities.
In Fangyuan, we see one oyster farmer still using traditional methods to harvest his oysters. He drives ox-drawn carts onto the tidal flats, just as it has been done for generations. In the fishing village of Dongshi, several tons of oysters are harvested, opened and processed every day. Taiwan’s relations with the mainland have often been strained since the establishment of the People’s Republic of China in 1949. Beijing regards the island as part of its territory. Tensions have been on the rise in recent times.
Tsai Jin-lu is a committed birdwatcher. For years, he’s documented his rare bird sightings in the Aogu Wetlands Forest Park on the western coast of Taiwan. But these days, his binoculars are frequently trained on something much bigger, up in the skies above. That’s because this is where the Taiwan carries out fighter jet exercises almost every day.
The Globalist Podcast, Friday, August 11: We discuss Biden’s Chinese technology investment ban with David Schlesinger and ask ‘LatinNews’ editor for the Andean region, Lewis Harrison, how the assassination of a presidential candidate in Ecuador could sway voters.
Plus: we find out the latest transport news with Monocle’s Gabriel Leigh, receive an update from the FIFA Women’s World Cup and Monocle’s contributing editor, Andrew Mueller, gives us a schooling in this week’s biggest lessons.
Video timeline: 00:00 Cashless transactions are on the rise 00:18 America: account and card 02:01 India: Unified Payment Interface 04:06 China: App payments
Supply chains are becoming more tangled and opaque
On august 9th President Joe Biden unveiled his latest weapon in America’s economic war with China. New rules will police investments made abroad by the private sector, and those into the most sensitive technologies in China will be banned. The use of such curbs by the world’s strongest champion of capitalism is the latest sign of the profound shift in America’s economic policy as it contends with the rise of an increasingly assertive and threatening rival.
The countries’ economic ties are more profound than they appear
When it comes to tracing the geography of global supply chains, few companies provide a better map than Foxconn, the world’s largest contract manufacturer. This year the Taiwanese giant has built or expanded factories in India, Mexico, Thailand and Vietnam. The Chinese production sites once loved by Western companies are firmly out of fashion. Souring relations between the governments in Washington and Beijing have made businesses increasingly fretful about geopolitical risks. As a consequence, in the first half of the year, America traded more with Mexico and Canada than it did with China for the first time in almost two decades. The map of global trade is being redrawn.
Boomers Daily 