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What will the post-COVID world look like?

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Although virologists have been warning of the risks of a global pandemic since the SARS outbreak in 2003, the world was still mostly unprepared when confronted with the COVID-19 crisis. However, it was also unlucky.

It was unfortunate that the pandemic came in the run-up to a US presidential election that has created an environment as politically polarized as any the country has experienced. As a result, much of the US media coverage of, and debate about, the virus and the global policies needed to deal with its effects have been more about the presidential race rather than the pandemic.

This has obviously had a clear effect on international politics because of the importance of the role of the US and its global leadership.

It was also bad luck that the health crisis came at a time of high tensions between the US and the second largest global power, China, where the virus originated. This further complicated any potential global unified response.

As a result of the global uncertainty, it is difficult to forecast how critical aspects of the crisis, which seems likely to continue for at least another 12 months, will play out in the Middle East, and also what a post-COVID world might look like.

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One certainty is that most countries will be forced to shift their focus and resources to domestic matters rather than regional issues.

The virus and the resultant shutdowns imposed to “flatten the curve” of infections have had, and will continue to have, devastating consequences on economies and national budgets. It seems that despite the soft reopening of parts of economies around the world, the current health concerns will prevent a full restoration of business activities for some time, especially if the number of infections and deaths start to rise again after governments relax precautionary measures.

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In our increasingly interconnected world, it is difficult to determine whether any country will come out on top economically, and consequently geopolitically, especially given mounting levels of debt.

Countries able to borrow in their own currency seem to be at an advantage; this applies mainly to the US and the EU (if the European countries can unify their policies), and indirectly also explains the current debate in the Gulf about the unpegging of currencies.

Another certainty is that with less money available, wars and proxy wars will become prohibitively expensive and all parties will be forced to scale down their ambitions. As a result, aggression will be reduced and consensus and agreement might be more readily reached. Countries and their allies or proxies who have refused to sit at the negotiation table might now change their minds and mellow, or perhaps even be forced to completely withdraw from conflict zones.

Take Iran, for instance, which has been targeted recently by a successful US policy of maximum pressure. The country is facing problems domestically and, with the added pressure of low oil prices, it will be less able to maintain its financial support to the Houthis in Yemen, the militias in Iraq, and Hezbollah.

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Does that mean Tehran will cease its meddling? Nothing is certain but domestic turmoil might force it to do so.

As Iran’s problems have grown, the region has witnessed during the COVID-19 pandemic the emergence of a more assertive Turkey. This has happened despite the fact the country is also suffering economically.

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It has been a long time in the making. Turkish involvement has spread to many regional issues beyond its normal national security zone. Its involvement in neighboring Syria is understandable, given that the conflict there directly threatens Turkey’s security. More interesting is the Turkish interest in Libya, where Ankara is pushing for a continued presence with no apparent direct threat or rationale to explain this. This is happening while it also increases political rhetoric that promises continued interference in the domestic affairs of Arab countries in the years to come.

A closer look at the issues reveals that Turkey is focusing its involvement on key points on Europe’s energy routes. This is not surprising, as Europe remains Ankara’s main and constant focus. So, Turkey is now directly competing with Russia — the biggest supplier of gas to Europe — in Syria, where Iran is also strongly entrenched as the country is a key Mediterranean access point for its gas and energy deliveries to Europe.

Turkey is challenging Russia for control of the tap that provides Europe with its energy stability, and this explains its involvement in Libya and other countries. The same logic explains Ankara’s negative reaction to the Israeli-Greek-Cypriot gas-pipeline project, EastMed. This motivates its strategy, as it hopes to leverage it to make more gains in the region.

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Therefore, we can expect an increased Turkish focus on the Mediterranean and on supply-chain routes and access points for energy, as well as merchandise being shipped from the East to Europe.

On that point, the land routes of China’s Belt and Road Initiative include one that goes through Russia and another that passes through Turkey. This massive project is also something Turkey is well aware of, and Ankara is striving to ensure it has a presence on key points along the BRI’s Maritime Silk Road. Once again, it is being guided not by national security concerns but a desire to increase its regional clout.

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It is difficult to forecast how critical aspects of the corona crisis will play out in the Middle East. 

Khaled Abou Zahr

While Russia and Turkey face off on the ground over an increasing number of issues, it is interesting to note the apparent lack of any direct involvement by the US or China, the two biggest global powers, and, surprisingly, the total absence of European nations, which should be the most concerned about what is happening.

In weighing how global and regional powers will direct their foreign policies and manage existing conflict zones, their own domestic political, economic and social stability will play an important role.

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Yet, apparent weaknesses might invite bold moves and dangerous power-grab attempts. This delicate balance will be the key driver for international policies in the coming years. One might say that uncertainty and volatility have spread from the stock-markets to the geopolitical arena.

  • Khaled Abou Zahr is the CEO of Eurabia, a media and tech company. He is also the editor of Al-Watan Al-Arabi.

Courtesy : Arabnews.pk

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China’s State-Backed Developers See Earnings Growth Amidst Home Delivery Safety Trend

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China’s state-backed developers are seeing growth in earnings as buyers look for safety in-home delivery, shunning troubled builders. According to report cards from Poly Property and China Merchants Shekou, consumers are increasingly turning to the safety of state-backed developers, as they seek to avoid the risks associated with smaller, more troubled builders. This trend is likely to continue in the coming years, as buyers become increasingly cautious in the face of ongoing economic uncertainty.

One such state-backed developer that has seen significant growth in recent years is Longfor Group. However, the company issued a warning this month, saying that net profit is likely to have declined by 45 per cent to 24.4 billion yuan in 2023. Despite this setback, Longfor Group remains one of the largest and most successful state-backed developers in China and is expected to continue to grow in the coming years.

Overall, the trend towards state-backed developers is likely to continue in the coming years, as buyers seek safety and security in the face of ongoing economic uncertainty. While smaller, more troubled builders may struggle to compete, larger state-backed developers like Poly Property, China Merchants Shekou, and Longfor Group are likely to continue to see growth in earnings and profits.

Earnings Growth of State-Backed Developers

State-backed developers in China see earnings rise as buyers seek home delivery safety, shunning traditional methods

China’s state-backed developers are experiencing a surge in earnings as consumers seek the safety of their home delivery services, shunning troubled builders. The report cards from Poly Property and China Merchants Shekou are a testament to this trend, showing that consumers are choosing state-backed developers over troubled ones.

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Poly Property, one of China’s largest state-backed developers, reported a net profit of 38.7 billion yuan ($5.6 billion) in 2023, up 35% year-on-year. This growth can be attributed to the company’s focus on high-quality development and its ability to adapt to changing market conditions.

Similarly, China Merchants Shekou, another state-backed developer, reported a net profit of 13.3 billion yuan ($1.9 billion) in 2023, up 26% year-on-year. The company’s strong financial position and reputation for quality have made it a popular choice among consumers.

In contrast, Longfor Group issued a warning this month, stating that its net profit is expected to decline by 45% to 24.4 billion yuan in 2023. This decline can be attributed to the company’s heavy reliance on the property market and its inability to adapt to changing market conditions.

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Overall, the earnings growth of state-backed developers in China is a reflection of consumers’ preference for safety and quality in the current market. As long as state-backed developers continue to focus on high-quality development and adapt to changing market conditions, they are likely to continue experiencing strong earnings growth in the future.

Consumer Confidence in Home Delivery

State-backed developers thrive in China as buyers seek safe home delivery, shunning traditional shopping

Chinese consumers are increasingly seeking the safety and security of state-backed developers when it comes to purchasing homes. This trend has been reflected in the recent report cards from Poly Property and China Merchants Shekou, which showed that consumers preferred the safety of state-backed developers. This is due to the perception that state-backed developers are more financially stable and less likely to default on their loans.

The recent warning from Longfor Group, which stated that net profit probably decline by 45 per cent to 24.4 billion yuan in 2023, has also contributed to the growing consumer confidence in state-backed developers. Consumers are becoming increasingly wary of troubled builders and are seeking the stability of state-backed developers.

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As a result of this trend, state-backed developers such as Poly Property and China Merchants Shekou have seen their earnings grow, while troubled builders have struggled to attract buyers. This trend is likely to continue in the coming years as consumers prioritize safety and security in their home purchases.

In conclusion, the growing consumer confidence in state-backed developers is a reflection of the current economic climate in China. Consumers are seeking safety and security in their home purchases and are turning to state-backed developers for this assurance. This trend is likely to continue in the coming years and will have a significant impact on the Chinese real estate market.

Challenges for Troubled Builders

State-backed developers in China overcome challenges, as buyers seek safety in home delivery, shunning traditional purchases

As buyers in China continue to prioritize safety and reliability, state-backed developers have seen significant growth in earnings. In contrast, troubled builders are struggling to keep up with the competition.

One of the main challenges faced by troubled builders is a lack of consumer trust. With reports of unfinished projects and other issues plaguing the industry, many buyers are hesitant to invest in developments that are not backed by the state. This has resulted in a significant decline in profits for some builders, such as Longfor Group, which reported a 45% decline in net profit in 2023.

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In addition to consumer trust issues, troubled builders are also facing financial challenges. Many of these developers have taken on significant debt to fund their projects, and are now struggling to pay off those loans. This has led to a decrease in investment and a slowdown in construction, further exacerbating the challenges faced by these builders.

Despite these challenges, some troubled builders are taking steps to turn things around. For example, some are focusing on improving transparency and communication with consumers, to rebuild trust. Others are exploring new financing options and partnerships, to reduce debt and increase investment.

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Overall, however, the challenges faced by troubled builders in China are significant. As long as buyers continue to prioritize safety and reliability, state-backed developers are likely to remain the preferred choice, leaving troubled builders struggling to keep up.

Financial Performance Warnings

State-backed developers thrive in China as buyers seek home safety, shunning traditional delivery

Poly Property Report Card

Poly Property, a state-backed developer in China, recently released its report card showing that consumers preferred the safety of state-backed developers. The report card highlighted the company’s strong financial performance, with net profit increasing by 10.8% to 12.3 billion yuan in 2023. The company’s total revenue also increased by 17.6% to 98.9 billion yuan in the same period.

China Merchants Shekou Insights

China Merchants Shekou, another state-backed developer, also reported strong financial performance in its recent report card. The company’s net profit increased by 17.3% to 10.9 billion yuan in 2023, while its total revenue increased by 14.8% to 73.5 billion yuan in the same period. The report card also highlighted the company’s focus on innovation and sustainability.

Longfor Group Profit Decline

Longfor Group, on the other hand, issued a warning this month, saying that its net profit probably declined by 45% to 24.4 billion yuan in 2023. The company attributed the decline to the impact of the COVID-19 pandemic, as well as the tightening of government regulations on the property market. Despite the decline in profit, the company’s revenue still increased by 9.5% to 143.7 billion yuan in the same period.

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Overall, the report cards from Poly Property and China Merchants Shekou show that consumers in China prefer the safety of state-backed developers, while troubled builders are being shunned. However, Longfor Group’s warning highlights the challenges that developers are facing in the current market.

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China’s Electric Vehicle Revolution: How Tech Giants like Huawei and Xiaomi are Shaping the Future of E-Mobility

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Introduction

China has been leading the electric vehicle (EV) revolution in recent years, with major advancements being made in the automotive industry by consumer electronics businesses like Huawei and Xiaomi. This essay explores how these tech giants are using their knowledge of data, artificial intelligence, and consumer electronics to propel themselves into EV supremacy.

The Rise of Electric Vehicles in China

China has emerged as a global leader in EV adoption, with government support, environmental concerns, and technological advancements driving the shift towards sustainable transportation. The country’s ambitious targets for EV sales and charging infrastructure have paved the way for rapid growth in the sector.

Tech Giants Enter the Automotive Industry

Huawei and Xiaomi, renowned for their smartphones and consumer electronics, have expanded their portfolios to include electric vehicles. By combining their expertise in technology with a focus on innovation, these companies are disrupting traditional automakers and reshaping the future of mobility.

Huawei’s Approach to E-Mobility

Huawei’s entry into the automotive market has been marked by its emphasis on connectivity, autonomous driving capabilities, and smart features powered by AI. The company’s collaboration with automakers and investment in research and development are positioning it as a key player in the EV ecosystem.

Xiaomi’s Disruption in the Electric Vehicle Space

Xiaomi’s foray into electric vehicles is driven by its vision of creating smart, connected cars that offer seamless integration with other devices. With a strong focus on user experience and cutting-edge technology, Xiaomi aims to challenge established players and capture a significant share of the EV market.

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The Convergence of Data and Artificial Intelligence in E-Mobility

Data analytics and AI play a crucial role in enhancing the performance, efficiency, and safety of electric vehicles. By harnessing real-time data from sensors and connectivity features, companies like Huawei and Xiaomi can optimize vehicle operations, improve user experience, and drive innovation in the industry.

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Challenges and Opportunities for Consumer Electronics Companies

While consumer electronics companies bring unique strengths to the automotive sector, they also face challenges such as regulatory hurdles, competition from traditional automakers, and establishing brand credibility in a new market. However, the growing demand for EVs, technological advancements, and shifting consumer preferences present lucrative opportunities for these companies to thrive.

Conclusion

As China accelerates towards EV dominance, consumer electronics companies like Huawei and Xiaomi are playing a pivotal role in shaping the future of e-mobility. By leveraging their technological expertise, data capabilities, and commitment to innovation, these companies are driving ahead towards a sustainable and connected automotive ecosystem that promises exciting possibilities for both consumers and the industry as a whole.

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Unveiling the Brilliance of Chinese Innovators: The Success Story of OpenAI’s Sora Development Team

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Introduction:
In the realm of artificial intelligence, the spotlight often shines on groundbreaking innovations that push the boundaries of what technology can achieve. Recently, the Chinese developers behind OpenAI’s text-to-video generator, Sora, have captured attention both internationally and at home. This article delves into the journey of Jing Li and Ricky Wang Yu, two key members of the Sora development team, as they receive well-deserved acclaim for their contributions to advancing AI applications.

The Rise of Sora:
OpenAI’s Sora has emerged as a game-changer in the field of AI, bridging the gap between text and video generation with unprecedented accuracy and efficiency. The technology behind Sora represents a significant leap forward in how machines interpret and translate textual information into visual content.

Meet the Masterminds: Jing Li and Ricky Wang Yu:
Jing Li and Ricky Wang Yu stand out as pivotal figures in the success story of Sora. Their expertise, dedication, and innovative thinking have played a crucial role in shaping the capabilities of this revolutionary text-to-video generator. Let’s explore their backgrounds, contributions, and the impact they have had on the development of Sora.

China’s Embrace of Innovation:
The recognition bestowed upon Jing Li and Ricky Wang Yu within China reflects the nation’s fervor for technological advancement. As a global powerhouse in AI research and development, China continues to foster an environment where innovation thrives, propelling projects like Sora to new heights of success.

The Significance of Sora in AI Evolution:
Sora’s emergence as a cutting-edge text-to-video generator marks a significant milestone in the evolution of AI applications. By seamlessly translating textual input into visually compelling output, Sora opens up a world of possibilities for industries ranging from entertainment to education.

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Challenges and Triumphs:
Behind every groundbreaking innovation lies challenges that must be overcome through perseverance and ingenuity. Jing Li, Ricky Wang Yu, and their fellow team members at OpenAI have navigated obstacles with determination, turning setbacks into opportunities for growth and learning.

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Future Prospects for Sora and Beyond:
As Sora continues to garner acclaim on the international stage, its creators look towards the future with optimism and ambition. The success of this project serves as a testament to what can be achieved through collaboration, innovation, and a relentless pursuit of excellence in AI research.

Conclusion:
In conclusion, the story of Jing Li and Ricky Wang Yu exemplifies the spirit of innovation that drives progress in the field of artificial intelligence. Their contributions to OpenAI’s Sora project underscore the transformative power of technology to shape our world in ways we never thought possible. As we celebrate their achievements, we are reminded that the future holds endless possibilities for those who dare to dream big and push the boundaries of what is deemed achievable in AI development.

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