Credit Suisse economists believe that the Fed will not allow bond yields to...
2020-09-04 5 ENGLISH REPORTS
Undertaken by Chinese tech-giants such as Huawei and ZTE, Chinese companies are now leaders in building digital infrastructure worldwide. This includes telecommunications (5G) networks and submarine cables, smart cities, satellite systems and cloud computing. In terms of the global market share of 5G telecommunications equipment, as of 2018, Huawei is the world leader at 28 per cent, while ZTE ranks fourth at 10 per cent (with Europe’s Nokia and Ericsson in between, at 16 and 14 per cent, respectively). Chinese companies also lead in the number of 5G patents, wherein Huawei alone has 3,325 declared patents, compared to 2,038 for Nokia and 1,423 for Ericsson. Separately, in Southeast Asia, Chinese companies also dominate the smartphone market, with 60 per cent of the market share in ASEAN-5 countries (that is, Indonesia, Malaysia, the Philippines, Singapore and Thailand) in 2019. Smart cities are also an integral part of China’s DSR. In this new way of urbanisation, digital technologies such as AI, 5G telecommunications networks and the IoT facilitate the further development of industries enabled by the digital revolution.
Chinese companies are leading forces of smart city development in many parts of the world, including in Central Asia and Russia, Africa, the Middle East, and even in the EU. The Chinese government and private companies act in sync, as the national and local governments assist companies to survive and expand their (global) footprint, with tax subsidies, preferential loans, grants and favourable input prices. Yet China’s aspirations reach even further, with space development becoming more prominent on the DSR agenda. The Chinese government has created an alternative to the United States’ Global Positioning System (GPS), Russia’s Global Navigation Satellite System (GLONASS) and the EU’s Galileo system. The BeiDou Navigation Satellite System sets out to be fully independent in imaging, communications and geolocation services, and the Chinese government is offering BeiDou’s services to other countries.
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