China’s legacy chips in EU’s crosshairs – Asia Times

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The European Union is conducting two research to find out how China’s expanding production of older-generation semiconductors is affecting the country. &nbsp,

The European Commission will do two studies covering major microprocessor- consuming industrial companies and the chip industry, both, in September, Reuters reported on Saturday ( July 6 ). &nbsp,

The document, citing two unnamed sources, said the EC has now started seeking comments on the two study’s review issues. &nbsp,

The EC may inquire with chip-consuming companies about where they get their so-called legacy chips, which refer to older, 28-nanometer chips and older, older chips. Separately, it may ask EU chipmakers about their products and prices, and their projections of the same data from their opponents, including the Chinese people. &nbsp,

The EC had already announced in early April that it would conduct research to assess the” trustworthiness” of legacy cards used in everything from aviation to cars to home appliances and to look for evidence of market errors.

The Reuters report was released on July 5th, when the EC began levying provisional tariffs of up to 37.6 % on Chinese electric vehicles ( EVs ). In November, the EU will decide whether the more taxes will be lasting. &nbsp,

Manufacturers and the Chinese government both declared they would engage in negotiations with the EU on the subject. China has so far launched anti-dumping investigations into European imports of meat and brandy. Spain and France are the two main producers of meat and vodka, respectively, in the region. &nbsp,

The Bureau of Industry and Security ( BIS ) of the US Commerce Department announced last December that a survey would be launched in January 2024 to find out how US companies are sourcing both current and legacy chips.

The BIS claimed in a study that the Chinese government had spent about US$ 150 billion in incentives on its chipmakers over the past ten years, which it believed would result in a non-level worldwide playing field for US and other international companies.

Western Commissioner for Competition Margrethe Vestager stated that the EU will integrate with the US to conduct a deliberate survey on China’s tradition device issue after speaking with US Commerce Secretary Gina Raimondo at the fifth ministerial meeting of the EU- US Trade and Technology Council in Belgium on April 4.

A Chinese IT columnist writing under an Uncle Biao pseudonym claimed in an article published on Sunday that” China has built its mature chip industry with its huge downstream industry demand.” ” Even if the US and the EU join forces to suppress China with non-market means, they wo n’t be able to change the fact that China is about to occupy the legacy chip market.”

As long as China maintains its market open, it will not only dominate the market for legacy chips, but it will also pioneer technological developments in the advanced chip market, he wrote.

China’s global market share for mature chips will increase from 31 % at the end of last year to 39 % by 2027, according to a TrendForce analysis. &nbsp,

China’s integrated circuit production increased by 32.7 % to 170.3 billion units in the first five months of this year from the previous year, according to the Ministry of Industry and Information Technology. China’s customs data shows its exports of integrated circuits grew 10.5 % to 113.9 billion units, over the period.

The Semiconductor Industry Association ( SIA ) reported on July 5 that the global semiconductor industry’s sales increased 19.3 % to US$ 49.1 billion in May 2024 from a year earlier. Year- to- year sales were up in the Americas ( 43.6 % ), China ( 24.2 % ), and Asia Pacific/all other ( 13.8 % ), but down in Japan (-5.8 % ) and Europe (-9.6 % ). &nbsp,

Some commentators speculated that the duo may soon impose tariffs on China’s legacy chips despite the US and EU’s ongoing investigation.

” If the EU really imposes new restrictions or tariffs on China’s legacy chips, China will definitely launch countermeasures against European products”, Tan Haojun, a Jiangsu- based writer, opined in an article published on Sunday. ” The Chinese and European sides will suffer a lot,” he says.

Tan predicts that as China’s EU’s desire to repress China becomes more and more clear, the business environment there will become increasingly difficult for Chinese companies. He recommends that China expand its consumption markets to expand its domestic market share.

Chip buyers, including the German automakers, need China- made legacy chips, Christophe Fouquet, chief executive of chip- making equipment maker ASML, told Germany’s Handelsblatt newspaper in an interview published on July 8.

Legacy chip manufacturers are increasing significantly globally, but Western chip makers are not making enough money in the industry, which is not very profitable, according to Fouquet.

He claimed that Europe cannot even meet half of its own needs and that the West should look for alternative solutions if it wants to halt China’s legacy chip production. &nbsp,

Read: China’s legacy chips to survive with price advantage

Follow Jeff Pao on X at&nbsp, @jeffpao3

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Urgent need for much more stimulus from Beijing – Asia Times

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The intensity for farther, strong stimulus steps from Beijing has never been more prominent. &nbsp,

China has a disconcertingly low inflation rate, with the Consumer Price Index ( CPI ) showing a mere 0.3 % increase year over year, in contrast to the high inflation that grips the US and Europe. This sluggish growth reflects a pervasive negative threat that, if not addressed right away, could destroy economic stability.

The continuing crisis in China’s real estate sector is a significant factor contributing to its economic troubles. &nbsp, When a strong growth website, the business is still beset by high debt levels among property developers, leading to a strong contraction in construction activities. &nbsp,

Chinese home prices dropped last month to record lows in the country’s economy, indicating that Beijing’s “historic” true land recovery has not yet had the desired impact.

This decline has had, and continues to own, significantly- reaching implications, curtailing purchase, increasing poverty and eroding customer confidence. &nbsp,

According to China’s National Bureau of Statistics, property investment for the first five months of the year decreased 10.1 % from the previous year. New home sales fell 28 % during the same period.

Due to the instability of the housing market, Beijing must take a specific and more effective support strategy to engage. This could lead to additional spillovers into other areas of the market.

Another pressing problem is the weak home need. Despite numerous efforts to increase spending, Chinese buyers are still mindful, and household consumption has never returned to pre-crisis levels. &nbsp,

This slowing down of demand is a major drag on economic development, and it highlights the need for measures to enhance consumer confidence and spending power. &nbsp,

Further measures such as direct subsidies, tax incentives and support for small and medium- sized enterprises ( SMEs ) would help revitalize domestic consumption.

While current industry information may appear urging, with exports outpacing imports for the past two months, these figures face underlying issues. &nbsp,

The obvious export growth is largely driven by a small basic effect, which makes the current figures appear better in comparison to the decline of the previous year. &nbsp,

Also, the surge in worldwide demand that has benefited China’s export may not be sustainable, particularly if other major markets begin to slow down. So, relying on trade performance as a sign of economic wellbeing may be misleading.

Given these issues, the justification for improved stimulus from Beijing is powerful. Enhancing monetary and fiscal policies would give the economy the needed boost. &nbsp,

Targeted steps to help the real estate sector, such as easing funds conditions for homebuyers and developers, may help regulate this vital industry. Also, domestic desire must be fueled by policies that increase consumer confidence and household income.

In addition to quick stimulus measures, Beijing probably needs to focus on lengthy- term tactical investments in infrastructure, technology and natural energy. &nbsp,

These investments may help to lay the foundation for long-term economic development in addition to providing a quick boost to the economy. China is cut down on its emphasis on exports and real estate, thereby creating a more balanced and tenacious economic model by concentrating on areas with high-growth potential.

To repeat, the Women’s Republic’s economic condition requires immediate and significant activity. &nbsp, Failure to act quickly and sufficiently may have grave consequences for China’s economy. &nbsp,

Inaction could lead to further financial unrest, undermine trust in Chinese financial businesses, and lead to a potential global economic downturn with serious consequences. Prompt, powerful treatment is essential to minimize these outcomes.

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China’s subsidies create, not destroy, value – Asia Times

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Money is the only thing that controls everything in my life.

C. R. E. A. M., getting the cash

Buck dollar bill, y’all

– Wu- Tang Clan&nbsp,

The European business press frequently reports that China’s funded industries destroy benefit because they are not profitable, including everything from high-speed rail to electric cars to solar panels ( the subject of the most recent The Economist collapse ).

If The Economist really knows better and is just spreading its anti-China grin, we give it a go. However, if this opinion is really held, which all indications indicate it is, then we are dealing with something much more perverse. 248 years after the publication of Adam Smith’s” The Wealth of Nations” and the West has lost the financial story. &nbsp,

To enjoy Tesla’s US$ 788 billion business cover in comparison to BYD’s$ 93 billion is to mistake opportunities with results. Both businesses are given ample tax cuts and other government benefits. Elon Musk’s success is attested by the fact that Tesla is much more successful than BYD while Vehicles have a much lower US market penetration. Tesla pocketed the incentives while BYD ( and competitors ) delivered outcomes.

Similar to how America’s First Solar just rose to the position of being the most important photovoltaic company as fierce competition in China wiped out profits. In a tariff-protected market, First Solar’s superior valuation should n’t cause celebration. &nbsp,

The fact that China’s renewable companies are slaying each other by flooding the world with cheap solar panels is prima facie evidence of beautiful policy success and worth development, despite The Economist’s hand-wringing. &nbsp,

To not be able to understand this important point would never have been able to comprehend Adam Smith. ” The Wealth of Nations” was not about the pursuit of profits. &nbsp,

They are guided by an unseen hand to distribute the necessities of life, as would have been done, had the planet been divided into equal portions among all of its inhabitants, and therefore without any intention, without any knowledge, to advance the interests of the society, and obtain means to the multiplication of the species.

The secondary/tertiary outcomes that improve outcomes for everyone were supposed to be the whole point of intelligent self-interest. &nbsp,

It is not from the compassion of the barber, the baker, or the cook that we expect our supper, but from their respect to their own personal- interest.

What we want from the butcher, the baker and the cook are pork, beer and food, not for them to be fabulously wealthy store owners. Cheap EVs and solar panels should be what China needs from BYD and Jinko Solar ( as well as the US from Tesla and First Solar ), as opposed to trillion-dollar market-cap companies. In fact, mega-cap estimates suggest that something has gone completely wrong. Do we really want t entrepreneurs, or do we really want it? &nbsp,

The company press has a mediocre grasp of value creation. At worst, liberal befuddlement has damaged the neurons of legislators, rendering them capable of diagnosing economic ills. &nbsp, &nbsp,

The far- heralded multiple- trillion dollar prices of a handful of American companies ( Microsoft, Apple, Nvidia, Alphabet, Amazon and Meta ) – all of which will swear up and down and all day much that they are not monopolies – are symptoms of serious financial displacement. How much of their pricing is the result of advancement, and how much is the result of anti-trust impunity and governmental capture? &nbsp,

It’s hard to say. China stomped on its tech monopolies and now manages to deliver similar if not superior products and services – able to make inroads into international markets ( e. g. TikTok, Shein, Temu, Huawei, Xiaomi ) – at always much lower prices.

The European business media, confusing incentives with outcomes, gently relies on stock markets to establish value creation. An important but unmeasured indicator of economic value is a company’s market capitalization.

If you do not own shares of Microsoft, the company’s value is in the price and performance of Windows, Word, PowerPoint and Excel, which we are all forced to use. &nbsp,

Non-shareholders should be asking how much less expensive and better productivity software would be if regulators actually carried out their duties. Given Microsoft’s$ 3 trillion market cap, monopoly business model and how often Excel crashes, we can be reasonably certain that consumers are getting screwed. &nbsp,

The saddest creatures in late-stage capitalism are cheerleaders who support mega-cap companies like sports teams but only have a small amount of equity. With 54 % of total US market cap held by 1 % of the population, it’s a given that these confused devotees far outnumber the real beneficiaries. &nbsp,

Perhaps that is the end of the modern proletariat, who are stupefied fanboys who celebrate their neoliberal serfdom. This writer believes that they would benefit from less Elon Musk and a higher demand for affordable cars, but that’s just my opinion.

One must of course consult Karl Marx and” Das Kapital” in order to fully comprehend what is happening, which both declared that:” To truly comprehend what is going on, one must consult:

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.

As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.

Haha, gotcha. That’s actually Adam Smith and” The Wealth of Nations”. It seems unclear whether Karl Marx and Adam Smith shared the same end goal. The profit motive can produce superior outcomes, but only when it operates paradoxically, is what Adam Smith and Karl Marx both got right. In other words, profits must be withdrawn from the market, at least for the long term. &nbsp, &nbsp,

Much of the confusion is brought on by the mechanics of capitalism. Profits become the focus of finance and, regrettably, economics because so much of the infrastructure has been devoted to its measurement because the invisible hand of the market is supposed to be guided by the enlightened self-interest of participants. &nbsp,

Every two-bit graduate of Western universities has a working knowledge of accounting, financial statement analysis, and valuation models, with the explosion of MBA programs and undergraduate business courses. &nbsp,

Unfortunately, all of that is at best half the story – the producer surplus part of the supply/demand chart. Because 1 ) no one is earning any money off of it and 2 ) there is no reliable method to measure the consumer surplus portion, it is of little interest. Universities are n’t offering Master of Consumer Advocacy programs all over each other. &nbsp,

What China has accomplished in industry after industry is to subsidize hordes of producers to flatten the supply curve. This spurs innovation, increases output and crushes margins. Value is not being destroyed, it’s accruing to consumers as lower prices, higher quality and/or more innovative products and services.

If you are looking for returns in the financial statements of China’s subsidized companies, you are doing it wrong. If China’s subsidized industries are generating massive profits, policymakers should be investigated for corruption. &nbsp,

A recent CSIS report estimated that China spent$ 231 billion on EV subsidies. We’ll go with it, even though that is a gross overestimation ( the think tank’s assumption about the EV sales tax exemption is far too high ). That comes out at$ 578 per car when spread over all ~400 million cars ( both EV and ICE ) on China’s roads. &nbsp,

The result was a Cambrian explosion of new EV manufacturers flooded China’s market with more than 250 models. Unbridled competition, blistering innovation and price wars have blinged out China’s EVs with performance/features and lowered prices on all cars ( both EV and ICE ) by$ 10, 000 to$ 40, 000. Chinese consumers will pocket a further$ 500 billion in consumer surplus in 2024, assuming an average savings of$ 20, 000 per car.

What number should we put on that? 10x? 15x? 20x? Yes, China’s EV industry is barely scraping a profit. So what? For a measly$ 231 billion in subsidies, China has created$ 5 to$ 10 trillion in value for its consumers. The combined market cap of the world’s 20 largest car companies is less than$ 2 trillion. &nbsp, &nbsp,

Graphic: Asia Times

The supply/demand curves above demonstrate that the main market effects are what we have been studying. The more significant outcomes of industrial policy are externalities. And it is all about the externalities. &nbsp,

Switching to electric vehicles saves China from oil imports, reduces particulates and CO2 emissions, creates jobs for swarms of new STEM graduates, and creates ultra-competitive companies in international markets, to name a few. &nbsp,

The shocking drop in solar panel prices may have even greater impact on the externalities. From mass desalinization to synthetic fertilizer, plastics, and jet fuel to indoor urban agriculture, previously uneconomic engineering solutions may be possible. China’s potential to significantly lower the cost of energy for the Global South has significant geopolitical repercussions.

The city of Hefei in backwater Anhui province has achieved spectacular growth in recent years through shrewd investments in high- tech industries ( e. g. EVs, LCD, quantum computing, AI, robotics, memory chips ). The Hefei model, which uses local governments to run venture capital funds, may be more effective than Silicon Valley’s. &nbsp,

The Hefei model is more flexible than the traditional venture capital investment returns, which are based on the company’s profits. Returns can be gathered through a variety of means, from lowering employee taxes to improving workforces to boosting consumer surplus. If positive externalities are a component of the incentive structure, the internal hurdle rate can be reduced.

The model is n’t really unique, despite Hefei’s tradition of hosting symposiums for processions of municipalities hoping that some of its magic will work. When challenged against the technological frontier, the China model looks exactly like it does. &nbsp,

While quantum computing, AI and robotics may be sexy, the formula is not much different from the macro China model. That is, a model that is aware of every aspect of value creation, from producers to externalities to consumers, not one that is fixated on and distorted by profits. &nbsp,

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Singapore hospitality company Ascott announces Chelsea sponsorship deal

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Ascott Limited, an affiliate of CapitaLand, announced a multi-year sponsorship agreement with Chelsea, an English Premier League football team, on Monday ( Jul 8 ).

For the next four seasons, &nbsp, the kindness company will be Chelsea’s recognized international hotels companion. Ascott will take over control of the two facility resorts at Chelsea’s London house ground starting in the second half of the year as part of the agreement. &nbsp,

In the second quarter of 2025, the 232-unit Millennium and Copthorne Hotels will be renamed lyf Stamford Bridge London.

Ascott hopes to introduce its broad collection of hospitality brands and properties to a new audience of guests by drawing on Chelsea’s powerful following as one of the top ten football clubs in the world, according to the company. &nbsp,

Ascott added that the partnership with the five-time Premier League champion club will offer “money ca n’t buy” experiences to Ascott Star Rewards members around the world. &nbsp,

The business touted “exclusive entry” for people to&nbsp, suits at Stamford Bridge and “VIP trips” to the team’s training center, Cobham Training Ground. &nbsp,

” The Ascott company will also be displayed at Stamford Bridge for both Men’s and Women’s games, as well as across Chelsea’s social and digital programs with interesting content for fans to enjoy”, said the hospitality business. &nbsp,

Ascott may also serve as Ascott’s host for Chelsea’s prominent Chinese CFC, which will take place in two foreign markets. &nbsp,

Tan Bee Leng, Ascott’s key corporate officer, stated:” As the Official Global Hotels Partner, Ascott will work with Chelsea on a number of modern marketing and commercial initiatives to join with millions of football enthusiasts across Europe and beyond.

She noted that the agreement may provide “unparalleled options” for Ascott to” priest memorable fan engagement&nbsp, activities, exclusive offers for Chelsea supporters, and bespoke be experiences at Ascott properties for fans”. &nbsp,

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Raymond Davadass’ journey in GBS has been underwritten by technology

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  • Saw opportunity to deliver better Customer&nbsp, Lifecycle Management via technical
  • Usually believed when you do what you need, in proper manner, money will come

Raymond Davadass: My advice to budding entrepreneurs: Go with your gut, back it up by as much information as possible, and always be honest about what you stand for.”

One of the most sought-after jobs for fresh graduates in the 2000s was in contact centers. Malaysia – KL, in particular – had become a regional hub for user support solutions, taking advantage of our fairly high English ability, technological advancements and business facilities.

Like all things tech, call centres have evolved significantly over the past several decades, transitioning from traditional telephone- based support to powerful, technology- driven contact centres.

Business process outsourcing ( BPO ) is the current branch of business process outsourcing in Malaysia, which is growing in Malaysia thanks to the same factors that fueled call centers almost 20 years ago: the country’s strategic investments in digital infrastructure and a highly skilled, multilingual talent pool, beyond just English. The government’s supportive policies and initiatives have likewise played a vital role in this transformation.

Tech businessman Raymond Davadass has been in the forefront of the development of this sector over the past 20 plus years. He is the founder of Daythree Digital Bhd, a company involved in the global business services ( GBS ) and customer lifecycle&nbsp, management ( CX Management ).

Under his leadership, Daythree has slowly expanded its offerings while utilizing the power of AI to streamline operations and increase customer performance.

Daythree went people last year, quick- forwarding its previously rapid growth. Davadass, whose remarkable salt and pepper moustache has become a personal look, is managing director.

Davadass was eager to study law, like many other young people of his creation in the 1990s, but he made a wrong turn when his three-month accounting trial course turned out to be more exciting. On entering the workforce, the Rawang local spent his early years in PwC, and left in 1997 to devote eight years working in Malaysia’s next- emerging technology scene.

He quotes his late father as saying,” That close affinity to technology has always been there, things I’ve always been fascinated with,” explaining how he came to terms with the transition and how he explained it to technical. He credits his late father for encouraging him to get extra-curricular lessons in BASIC software, deep II, and Lotus 123.

After working for others, Davadass, equipped with tech industry experience, accounting skills and a master’s degree in business administration, was ready to take the plunge.

” Between 2006 and mid 2009, I provided business consulting services. But that first attempt at being an entrepreneur definitely came with a lot of learning, I suppose. He said that some of the projects I was working on included how to finance technology.

He became the CEO of Kannal Solutions Sdn Bhd ( a subsidiary of Kannaltec Bhd, which was then listed on the ACE Market ). He joined the business in June 2009 and is now a director of Kannal Solutions Sdn Bhd.

The corporate journey continued for seven years before Davadass was given the choice to buy Kannal Solutions in 2016, which he chose, and which he did as a result of his second successful venture.

He changed the company from telemarketing, which was a commodity, low margin BPO space, to concentrate on the higher margin Customer Lifecyle Management and Digital Technologies segment. He changed the name to Daythree.

The new focus paid off. ” I started Daythree in April 2016 with a small team, and now here we are with almost 2, 000 staff ( 500 permanent and 1, 400 contract who enjoy full staff benefits as well )”. It recently reported Q1 24 revenue of US$ 5.03 million ( RM23.7 million ) with US$ 500, 000 ( RM2.38 million ) in profit before tax. Since Daythree was listed in July 2023, there is no comparison of the coresponding period.

a leader in digital CX; aspirations

The growth of Daythree is a testament to the evolution of the BPO industry, which has come a long way from its call center roots ( many of us will recall calling 755 2525 for pizza ) and has undergone numerous iterations to now become Global Business Services ( GBS ). The world today allows for multiple ways to reach the customer, from customers who only interact with service providers via phone. And vice versa, and with AI agents on the horizon! However, the challenge for businesses like Daythree is n’t just combining all the data in relation to a particular transaction with real-world storytelling.

” Before the GBS term, contact centres were part of business process outsourcing. However, if the focus of BPO was once on cost, which is why call centers were once so popular in India and the Philippines, there is now a shift to value. It is not just people behind a desk, but better access to quality technology. It also means managing the entire service interaction, supported by technology. And a lot of it”! Davadass says.

With the ( somewhat mouthful ) tagline” Customer Experience Lifecycle Management is our Forte.. with its ambitions of being a Digital CX Leader. &nbsp, Delivering Insights &amp, Innovation is our Differentiator”. Daythree’s service to the market is delivered through three digital tools, all developed in- house.

  • Faith is a platform designed to improve employee engagement by providing tools for streamlining scheduling, automating payroll processes, facilitating communication, and enhancing performance feedback.
  • Customer relationship management is integrated with robotic process automation ( RPA ).
  • Saige, which functions as the business intelligence tool for the organization, gathers real-time data from each customer interaction and stores it on a unified analytics platform. This allows for analysis, interpretation, and recommendations for improvement based on the collected data.

Davadass chose to build his own solutions, even though it would have been simple to purchase off-the-shelf solutions to shorten its time to market. We are the first to notice the gaps in the processes that cause consumer frustration because we manage customer front-end processes for a living.  Very frequently we see agents being lacked the necessary digital tools to get the data and information they need to make quick decisions. This resulted in us seeing the value of expanding the capabilities at Daythree and bringing an improved CX to the market, explains Davadass.

” We are on a relentless search to incorporate technology into every aspect of the business,” he continues. ” I need to be able to do more with less, and that is Daythree’s edge. Malaysia’s other advantage is that we have people who can speak 53 different languages and dialects. At Daythree alone, its 15 languages. India and the Philippines cannot compete with this in any way. Although, these days, less people call in and the focus is more on doing things via chat. One agent can manage four conversations at once, which is a more effective use of my resources.

Not just Daythree makes the most of Malaysia’s advantages as a BPO hub. ByteDance, which runs TikTok and AliBaba, are two notable examples of global tech companies that have tapped these resources. Both companies began with small teams, and over the years, ByteDance’s number has soared to over 4,000 in just four years.

AI or not, human touch will always be needed

According to the joke, Davadass is the last person to worry that robots will eventually rule the world because of how practical and optimistic she is about the future. ” A huge challenge now is generative AI, in the sense that people are concerned about how it will change things”, he says thoughtfully. I firmly believe that more transactional work will be handled by technology, so if you do n’t upskill now, you’ll be left behind. In our industry, we still need that human touch, and I believe we always will. In some situations, AI can perform the job, but in others, the client needs to experience genuine empathy. You need a human right now to find that balance.

Going from founding a tech company in 2016 and getting it listed in 2023 is an impressive feat, but success did n’t necessarily come easy for Davadass. ” I bootstrapped the business”, he laughs.

No banks wanted to lend money to him, and the early stages of the process were challenging. However, Malaysia Digital Economy Corporation ( MDEC ) assisted him in getting assistance. ” Through GAIN and many of their other programs, their support has been instrumental in guiding us in our growth journey”, he acknowledges. They have helped us gain brand visibility in the market where we do business, both regionally and globally, by exposing us on various platforms and forums, including business missions. This has helped us open new markets and&nbsp, find new partners. They have also offered advice and assistance in assisting us in developing our exclusive digital tools.

As the pandemic hit in 2020, &nbsp, Davadass realised that he&nbsp, had hit a glass ceiling. The realization hit in those early difficult days of the pandemic that Daythree could n’t be an entrepreneur-driven company any more. I needed money and adopt a more professional approach in order to grow. Hence our IPO journey started in 2020 itself, and we got listed in July 2023″, he said.

Relinquishing control of the company born from an idea you’ve had for many years is n’t easy, but in failing an an entrepreneur once before, Davadass, who owns 38 % of Daythree, was able to approach the entire process with a more open mindset: the benefits were very clear and fit into his plan for&nbsp, Daythree’s growth. Before the IPO, I lost a very big deal because we were n’t “big” enough even though we were technically more than qualified. Because I understood that this business was more than just about me, I had to go through with the IPO. It’s not been too long ( 10 months since listing ), but the difference is very clear – the pipelines I am able to build, and with so many new doors opening. When you can be a part of a much bigger pie, why fight for control over a small pie?

With the experience he has acquired, and looking back, would he have done anything differently? Davadass smiles. ” I do n’t know. There are no decisions I regret. In its own time, everything happened. If I’d done the IPO 10 years ago, I would be a different person today, for example. I think of myself as an accidental entrepreneur, the one who’s always taken the road less travelled– even though as an accountant you’re trained not to do that”, he quips.

His business and life lessons apply to both his business and life lessons. The pillar of doing business for me has always been integrity; I’ve never been one to chase profits. When do you need to, when do you need it, and in the right way, the money will arrive, in my opinion. Being sincere has always paid off, and putting that front and center means that money will come. I also believe humility is critical”.

The three words used a lot in the company are’ Alive’,’ Blessed and ‘ Grateful’.

Davadass looks outside his large office windows, and smiles. I’ve heard this advice to budding businesspeople:” Go with your gut, back it up with as much information as possible, and always be open about what you stand for.”

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Risk migrates to Europe from Asia – Asia Times

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Subscribe now&nbsp, for access at a special price of only$ 99/year.

Chance leaves Asia and travels to Europe.

According to David P. Goldman, political threat in Europe is rising as the National Rally in France and the AfD in Germany increase confusion and uncertainty in European areas, while quiet has returned to China’s ownership industry.

European parliamentary elections as expected

Diego Faßnacht reports on the effects of the French legislative election, with the National Rally receiving more than 33 % of the vote. Strong split between the left and Macron’s supporters make assistance hard, likely leading to a divided and dormant congress.

Ukraine’s losing place casts darkness over US vote

Concerns about the effects of US political dynamics on their support are rising in Kiev, according to James Davis, which could lead to negotiations over securing protection services, aid, and possible NATO membership assurances. Russia appears to be paying close attention to the political climate in the US.

US sanctions against Chinese technology are getting near their boundaries.

Scott Foster discusses Japan’s emphasis on preventing Beijing from imposing new technology restrictions at Washington’s peril, citing China’s significant market share for Chinese semiconductor equipment manufacturers and the rapid development of Chinese artificial intelligence and 5G.

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Lisa”s hit boosts Yaowarat, soft power

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Lisa's hit boosts Yaowarat, soft power
In a music video trailer released to encourage her new one” Rockstar,” Lisa from Blackpink takes center stage. ( Photo: Lalisa_M Instagram )

The release of the Rockstar music video by Lalisa” Lisa” Manobal on June 28 has boosted the popularity of Bangkok’s Yaowarat ( Chinatown ) area.

Within 24 days of the video’s posting on YouTube, her first single one in three years had received more than 32.4 million views. Chinatown, where most components of the movie were filmed, has become the place for a verify- in trend.

Following in Lisa’s footsteps, who capitalized on her international standing to promote the historical assets of her home country, did not happen before.

In September 2021, when her single comeback album Lalisa was released, the MV of the first one featured the pop star, who’s a Buri Ram local, wearing a classic Thai headdress and Mai- designed outfits.

Prasat Hin Phanom Rung, an historic site in the state, was featured as a landscape in the picture.

And when Lisa has been captured with any Thai goods, its sales soar.

Typical meatballs from neighborhood street vendors close to Buri Ram railway station were among the items on hand, as was a popular natural inhaler for the elderly.

The authorities should consider using brand impact in its promotional strategies as a result of the Yaowarat trend that the younger idol has sparked.

Strength of judgment officials

Sisdivachr Cheewarattanaporn, president of the Association of Thai Travel Agents ( Atta ), said Lisa, who has more than 100 million followers on Instagram, generates high engagement on social media.

She even represents Thai gentle authority, showcasing features of Thai society to the world, he said. The pop star’s reputation and influence are obvious, according to Buri Ram, where she created the sensation of the meatballs.

He claimed that Lisa should be tapped into her worldwide audience and serve as the government’s cultural ambassador.

” I think that in terms of the country’s photo, the effect is obvious. She has created the most media hype that no other celebrities is.

” Her part as the country’s embassy will be a huge boost. It’s a good investment and it also fosters confidence, “he said.

The private sector lacks the resources to hire Thai ability as a hospitality or ethnic ambassador, according to Mr. Sisdivachr, who called for action from the government.

Sisdivachr: Lisa is’ Thai gentle authority ‘

Sanan Angubolkul, the Thai Chamber of Commerce (TCC), favored working with influential people to promote hospitality.

Nevertheless, he said the use of district ­- brities may be carried out gently without appearing greatly commercialised or forced, then, the approach may lose its appeal.

Lisa’s use of influence to market Thai social assets feels healthy and effective, he added.

Extending beyond Yaowarat

Mr Sanan said the Rockstar music videos will help drive commerce action in every sector, and Yaowarat, which is already a perfect tourist spot, may see a surge in visitors.

He recommended that the government take advantage of this opportunity to expand marketing initiatives beyond Yaowarat to involve local neighborhoods like Song Wat Road, Sampheng industry, and Talat Noi, which are renowned for their diversity.

The use of influencers as commerce ambassadors can also be extended to other parts of the country, according to the TCC chair, and make holiday towns with financial possibility into business, investment, and tolerable cities.

In every province, including Bangkok, TCC is working with the Tourism Authority of Thailand ( TAT ) and the Tourism Ministry to promote high-quality travel through a campaign dubbed the” Happy Model.”

The design consists of consuming nutritious and healthy foods, staying in locations with healthcare facilities, encouraging active living through physical activity like as running and boxing, and collecting native knowledge to share it with others.

Yaowarat can be used in the pilot project with citizens ‘ involvement. Partnership with the local area is crucial to bring conservation, “he said.

He claimed that the” Content Device” initiative can also be supported by the current campaign, which aims to promote 10 second-tier counties as first-tier tourist destinations.

Ten regions selected from all five parts are Phrae, Lampang, Nakhon Sawan, Nakhon Phanom, Sisaket, Chanthaburi, Ratchaburi, Kanchanaburi, Nakhon Si Thammarat, and Trang.

These regions are being encouraged to use local events to promote their cultural, historical, and natural landmarks, and economic potential to attract customers and investors, eventually leading to growth and development.

Sanan: In favour of opinion leaders

According to Mr. Sisdivachr, the government should use the opportunity to capitalize on the revenue from Lisa’s music video to promote other tourist attractions in other parts of the nation.

He also urged the government to establish clear objectives, evaluate the preparedness of each targeted province, and formulate a plan before implementation.

Before beginning a plan, preparation is crucial. More security measures must be put in place to increase visitors ‘ safety. They should feel safe when travelling, “he said.

On the bandwagon

According to Aekvaranyoo Amrapala, spokesman of the Bangkok Metropolitan Administration ( BMA ), improving the strength and identity of communities has been a pillar of Bangkok governor Chadchart Sittipunt’s policy.

He claimed that the BMA has improved the infrastructure to facilitate the access of tourist spots in 50 districts of Bangkok as well as developed a program to promote the distinct characteristics of each of the 30 neighbourhoods to promote economic activity.

Communities with their strengths and identities, such as Kadi Chin in Thon Buri district, Nang Loeng in Pom Prap Sattru Phai district, Talad Noi in Samphanthawong district, and Saphan Pla in Sathon district, deserve recognition and respect.

The BMA’s involvement with local communities in organizing events like those for cultural fairs and walking streets has also raised awareness that all parties involved in sustainable tourism must work together, he said.

Song Wat, an old town area filled with traditional shops, has become vibrant and attracted young entrepreneurs due to the BMA’s effort to revitalise the area, he said, adding the areas under development include Bang Lamphu- Klong Ong Ang, Thewet- Talat Thewarat, Pakkhlong Talat, and Yaowarat- Sampheng.

We’ve been working on it, but we also thank Lisa for promoting Thai tourist attractions. She is a global sensation, and]the music video ] gives it an additional boost, “he said.

Thapanee Kiatphaibool, TAT governor, stated that the organization will use this opportunity to promote tourism and create a walking trail through Yaowarat, Songwat, and Talad Noi to draw visitors and increase economic value.

We think the music video will revitalize Bangkok’s tourism industry.

“TAT will promote Yaowarat to catch up with the emerging trends… such as promoting Thailand’s other old town areas in long- distance markets using Yaowarat, which is a well- known destination”, she said.

Thapanee: Walking routes a good idea

Flaws to be fixed

Sanga Ruangwattanakul, president of the Khao San Business Association, called on the government to streamline work and revise regulations that impede tourism development.

Low-level officials, he said, would not support the business operators ‘ tourism promotion campaigns out of concerns over complaints and legal actions if these rules were changed.

Mr. Sanga claimed that the government had announced a campaign to promote the Songkran festival for a month but that no money had been allocated to do so.

When the business owners sought sponsorship from the alcoholic beverage sector, the authorities issued a warning against alcohol advertisement.

He claimed that since the music video’s fever is short-lived and will vanish quickly, the government should take action to support the business owners.

” We’re dealing with a situation where the regulations are not in line with government policy,” the statement goes. Outdated laws need to be updated.

” We want to be a tourist city, yet tourists ca n’t order a beer due to limited hours for alcohol sales, “he said.

Sanga: Urges govt to streamline work

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China EV makers to pivot to emerging markets as US, EU hike tariffs

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Target ON GLOBAL SOUTH

While the Western and the US businesses are essential, they are not the only people, noted Dr John Quelch, professional sin- president at Duke Kunshan University in China.

He added that there are “plenty of options” for the Foreign EV trade industry and production to create abroad.

Chinese EV manufacturers have begun setting up production in nearby industrial parks to prevent unwanted obstacles, according to Dr. Li Fang, country director at the World Resources Institute China, in addition to selling their products to emerging industry.

For example, BYD opened its first EV shop in Thailand on Thursday, its primary in Southeast Asia.

Dr. Fang claimed that supporting their Vehicle modifications by building factories in developing nations is also a benefit. &nbsp,

She continued, referring to participation among nations of the Global South as a part of our South-South assistance and as a part of the response to new international business regulations. &nbsp,

The International South, which broadly includes countries in Africa, Asia and Latin America, refers to different countries that are sometimes described as “developing”, “less created” or “underdeveloped”.

The change comes in response to Chinese President Xi Jinping’s growing desire to improve participation with the organization, which China considers itself a part of.

Dr. Quelch even made a point about China’s potential cooperation with nations like Mexico that have auto-making business.

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Even as plastic bag use at supermarkets declines, Singapore is in early phase of sustainability transition: Experts

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In: South-East Asia

NEED FOR AWARENESS&nbsp,

Singapore is still in its early stages of change, according to Dr. Samer Hajjar, top selling professor at the National University of Singapore Business School. &nbsp,

” One percent of the population has adopted these environmentally friendly techniques. The broader adoption is still in development, and some users also need time to adjust to new methods”, he said. &nbsp,

He added that those who do n’t regular shops or those who otherwise purchase their groceries at the wet areas may not have been able to benefit from the press for more ecological practices.

” It’s a collective responsibility. Governments have to drive for more subsidies, more rewards for customers who are adopting ecological habits. Shops as well have to press for more sustainable techniques”, he said.

” Third parties like NGOs ( non- governmental organisations ) and nonprofit organisations have to educate and raise awareness”.

Awareness is critical, according to Assoc Prof. Chang, because “many people may not be fully aware or cognizant of the negative impact that single-use plastic bags have on our environment.”

However, she noted that around the globe, the rolling out of such methods generally happens slowly.

” It does n’t necessarily take place overnight… it just takes time, one at a time, so that people can get used to it and start making their own bags habit,” she said. &nbsp,

The National Environment Agency recently stated that it would evaluate the effectiveness of the plastic carrier charge before deciding whether to develop it beyond stores.

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Chinese electric car makers hit with new European Union tariffs

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In: Asia

6 hours ago

By João da Silva, Business reporter

Getty Images Visitors look at MG4 on display at electric vehicle fair in Spain.Getty Images

As Brussels takes steps to protect the bloc’s engine industry, tariffs have been increased by the European Union on Chinese energy vehicles.

The new tariffs, which are applicable to individual manufacturers, go from 17.4 % to 37.6 %, which is in addition to the 10 % duty that was already in place for all electric cars imported from China.

This could cause EV prices to rise across the EU, making them less inexpensive for Western consumers.

The shift is also a big blow for Beijing, which is already in a business war with Washington. China’s Vehicle industry is relying on high-tech products to revive its ailing economy because the EU is the largest international market for its EV sector.

According to EU officials, “unfair subsidization” led to this increase in imports, which made it possible to sell China-made electric vehicles at much lower prices than those produced in the alliance.

Beijing is subsidizing excessive production to flood eastern markets with cheap imports, China has refuted this claim repeatedly made by the US and the EU.

The new claims will become effective on Friday, but they are only preliminary as the exploration into Chinese express support for EV manufacturers drags on.

So who are the possible winners and losers in this industry dispute?

Not only Chinese brands are impacted by the shift. European automakers that are produced in China have also been subject to scrutiny by Brussels.

Brussels claims that by imposing taxes, it is attempting to right what it perceives as a twisted industry. The EU’s choice may seem unimpressive in comparison to the current US decision to increase its overall tariffs to 100 %, but it has potential to have a much bigger impact. Foreign electric vehicles are more prevalent in the EU than they are on American roads.

According to figures from the influentive Brussels-based green group Transport and Environment ( T&amp, E), the number of EVs sold by Chinese brands across the EU increased from just 0.4 % of the total EV market in 2019 to almost 8 % last year.

Patryk Krupcala, an engineer from Poland, who expects to taking delivery of a brand new China- made MG4 in two months told the BBC:” I have chosen an MG4 because it is quite low. It has rear-wheel drive like my past car, the BMW E46, and is a truly quick car.

T&E projects firms like BYD and Shanghai Automotive Industry Corporation (SAIC), the Chinese owner of the formerly British brand MG, could reach a market share of 20% by 2027.

However, not all Chinese-made electric vehicles will suffer the same fate as a result of the fresh taxes.

Winners and losers

They were based on estimates of how much position aid each company received, while those who cooperated with the investigation saw the tasks they were subject to reduced. The German Commission has established specific tasks for three Chinese EV models based on these criteria: SAIC, BYD, and Geely.

SAIC has been hit with the highest new tariff of 37.6%. State-owned SAIC is the Chinese partner of Volkswagen and General Motors. It also owns MG, which produces one of the top-selling EVs in Europe, the MG4.

” The price for not cooperating is a serious blow to SAIC, which gets 15.4 % of its global revenues from EV revenue in Europe”, says Rhodium Group, an independent research company.

For Mr Krupcala, who bought his MG4 before the tariffs hit, the EU’s move does not matter much:” I do n’t really care about the tariffs. I have a good car with a seven- time warranty”.

For China’s largest Vehicle manufacturer, BYD, it is a different story, as it faces an extra work of 17.4 % on the cars it boats from China to the EU.

That is the lowest improve, and it will “give the manufacturer an advantage in the Western market,” according to research from Dutch bank ING.

Cost was one of the deciding factors when Lus Filipe Costa, a Portuguese professional in the healthcare sector, said when he made his choice for his new car.

He continued, however, that even if the new levies had already been in position, he would still have chosen BYD because “other companies would also be affected.”

Portuguese business executive Luis Costa standing next to his BYD Seal.

Geely, which owns Sweden’s Volvo, will see an extra price of 19.9 %.

According to Spanish lender BBVA, the firm will” still export to the EU effectively” but “its gains will be considerably reduced”.

Different businesses will also have to spend more to import energy cars into the EU, including European car manufacturers that have factories in China or through joint ventures.

Those deemed to have cooperated with the probe will face an extra duty of 20.8%, while those EU investigators see as non-cooperative will pay the higher tariff of 37.6%.

Tesla, the largest producer of electric cars from China to Europe, has requested an independently calculated rate, which EU officials have stated may be determined at the conclusion of the analysis.

The company has posted a warning on some of its European sites warning that the new tariffs could cause costs for its Shanghai-made Model 3.

Next month, business Lars Koopmann, who lives in the motor industry superpower that is Germany, bought a China- made Tesla Model Y.

Mr Koopmann says he especially enjoyed the car’s higher- technology features, such as the big touch screen.

According to Mr. Koopmann,” Price was even a large element that set it apart from superior German brands.”

” If the taxes had been in place, they would have always affected my decision”.

Localising generation

Although some China-based manufacturers will be in better shape than others, it is obvious from the Western Commission’s programs that all of them will be paying higher transport costs.

The hardest hit, according to Rhodium, may be SAIC companies like MG as well as joint initiatives between foreign and Chinese companies in China, which frequently have lower profit margins on the vehicles they sell to Europe.

” The biggest beneficiaries of the jobs are European-based producers with minimal exposure to China, such as Renault,” according to the statement.

In other words, the responsibilities are likely to accomplish what the Union hopes they will reduce the number of imported Chinese electric vehicles, thereby reducing the burden on local manufacturers.

Another benefit of the move is that some large Chinese electric vehicle companies intend to establish production in the EU, which may protect them from the new responsibilities.

Production is anticipated to start at BYD’s second Continental shop by the end of the year in Hungary.

Chinese automaker Chery just signed a joint venture agreement with a Spanish company that will see the two companies producing Batteries and other car types in Barcelona.

Additionally, SAIC is looking to find a location in Europe for its first shop.

According to Bill Russo from Shanghai-based consulting team Automobility,” It’s a well architected strategy to promote businesses to move their investments to the EU, rather than rely on exporting from China.”

The fact that some businesses are taxed more heavily than others indicates that they will increase or decrease the fine based on the level of investment the company makes in the EU.

Early on, the Chinese government placed a bet on EVs.

According to the Center for Strategic and International Studies, between 2009 and 2023 more than$ 230bn ( £181bn ) of state support was pumped into the industry.

In consequence, its EV sector has grown to be the most successful worldwide.

According to the International Energy Agency, China sold more than 60 % of all new electric vehicles globally last year.

While the vast majority of EVs produced in China are sold domestically, overseas markets, and particularly Europe, have become increasingly important.

” Exports are the profitable segment”, said Rhodium’s senior analyst, Gregor Sebastian.

Because these exports help China recover from its domestic price war, the EU tariffs will hurt the country’s electric vehicle industry.

In the wake of the pandemic and an ongoing property crisis, the second-largest economy in the world is having trouble adjusting to the effects of the pandemic.

China is trying to “export its way out” of the slump, according to Alicia Garcia- Herrero, chief economist for the Asia Pacific region at investment bank Natixis.

And Beijing is placing yet another significant bet on electric vehicles by designating the sector as one of its” New Three” growth drivers, a government strategy for revitalizing the economy that also depends on battery exports and renewable energy.

However, it appears that China’s most recent move could increase trade tensions with some of its largest trading partners as major markets like the US, the EU, and others start imposing tariffs and other barriers.

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