More on Huawei, why is power consumption slowing, where do wealthy Chinese want to immigrate, and why are there no Chinese Mark Zuckerbergs?
1. Huawei Says US Probe Is 'Protectionism'
"No, I don't think there will be an impact," Huawei's senior vice-president Zhang Chunxiang said. Zhang, who spoke on the sidelines of a business event in Hangzhou, said both sides were still talking and that the US investigation was a sign of trade protectionism.
"They investigated for 11 months and they didn't consider all the different material supplied by Huawei and they still came to that conclusion. "They investigated like they had never investigated at all," he said.
2. Report: White House Finds China's Huawei Is Risky, But Not Because Of Spying
A White House-ordered review of security risks posed by suppliers to U.S. telecommunications companies found no clear evidence that Huawei Technologies Ltd had spied for China, two people familiar with the probe told Reuters.
Instead, those leading the 18-month review concluded early this year that relying on Huawei, the world's second-largest maker of networking gear, was risky for other reasons, such as the presence of vulnerabilities that hackers could exploit.
3. Where Well-Off Chinese Are Looking To Immigrate
On a recent Saturday, some 140 developers from more than 20 countries showcased their properties to Chinese buyers in an expo held in Beijing. To catch the eyes of the prospective buyers, the developers handed out fancy brochures, decorated their exhibit booths with bold-color pictures of featured properties, and in some cases, even had young saleswomen wearing bunny ears.
But what attracted many of the Chinese visitors the most was the lure of foreign residency, which made the 30 exhibitors from Cyprus the most prominent group at the entire expo. Why Cyprus? While mild weather, rich history and a nice location in the Eastern Mediterranean might make the tiny island nation an attractive place to live, the main appeal is the incredibly low bar it sets for immigration: Anyone who spends €300,000, or roughly $393,000, on a piece of property on the island automatically becomes eligible for permanent European Union residency.
4. China's Power Consumption Slows Further
"The slower growth of power consumption is the result of energy-consuming industries, like the real estate and infrastructure construction sectors, decelerating amid the slowing economy," said Zhou Dadi, standing vice president of the China Energy Research Society.
The NEA data showed that electricity consumed by the industrial and manufacturing sector continued to slide, accounting for 73 percent of the the country's total power consumption in September, with energy-intensive industries taking the lion's share. From July to September, power consumption by the industrial and manufacturing sector continued to decline, indicating that the Chinese economy is still facing downward pressure.
5. Local Government Accused Of Forcing Students To Work For Foxconn
Citing a teacher at Shandong Business Institute, China National Radio reported that all of vocational colleges in Yantai, a city in northern Shandong Province, were given a clear order by the local government, asking them to send students to work at Foxconn factories as interns from September this year...
The students, supposed to finish their internship of one to three months at these factories, have to work overtime and nights just like regular employees, the report said. Students complained that their work had nothing to do with their majors, and was exhausting.
Sounds like a worthwhile internship.
6. Why Isn't There A Mark Zuckerberg In China?
Chinese education tends to be better for depth than breadth. In other words, when you graduate as a software engineer, you may have very strong fundamentals in math and engineering, but you don't get as much exposure to user experience, communications, product design, business acumen, team-work, etc. as you would in a typical US university.
Very true. Breadth vs depth.
7. China Opens Atomic Bomb Facility To Red Tourists
Chinese government officials have announced plans to spend roughly one million dollars to open the former atomic bomb test site Malan Base in the remote Uighur Autonomous Region. The Telegraph reports that the site is of particular interest because the base is where Chinese scientists developed their first atomic bomb, which was detonated nearby in 1964...
The new tourist attraction will, according to UPI, include laboratories, dormitories and a 1000-foot-long underground air raid shelter. The project is being managed by local government actors working with Beijing's Tsinghua University.
I'd visit this site. Sounds like an interesting place for science/military nerds.