China tech is open source, from AI like DeepSeek to Huawei AI chips showing China confidence of which US is lacking, that includes trade when China encourages imports with little to no tariffs verses US doing the opposite! East rises and West sinks and sinking fast is inevitable! SCMP: Huawei to open-source AI chip toolkit to take on Nvidia’s proprietary platform 中國科技開源，從DeepSeek之類的人工智慧到華為的AI晶片，都展現出中國的自信，而美國缺乏信心，這包括貿易方面，中國鼓勵進口，幾乎不徵收關稅或很少關稅，而美國卻反其道而行之！東方崛起，西方沉淪，美國為首的西方國家快速沉淪是不可避免的！ 《南華早報》：華為將開源AI晶片工具包，挑戰英偉達的專有平台 https://www.scmp.com/tech/tech-war/article/3320852/tech-war-huawei-open-source-ai-chip-toolkit-take-nvidias-proprietary-platform?
Hong Kong to become the world’s largest wealth management hub in coming years. HK grew by 13 percent year-on-year, reaching HK$35 trillion (US$4.46 trillion) by the end of 2024 香港將在未來幾年成為全球最大的財富管理中心。香港財富管理規模年增13%，預計2024年底將達到35兆港元（4.46兆美元) by Global Times, Aug 04 2025
Hong Kong is projected to become the world’s largest wealth management center in the coming years, with the city’s asset and wealth management market experiencing robust expansion last year, according to Hong Kong Monetary Authority (HKMA) Chief Executive Eddie Yue on Monday.
According to the latest Asset and Wealth Management Activities Survey released by the Securities and Futures Commission, total assets under management (AUM) in Hong Kong grew by 13 percent year-on-year, reaching HK$35 trillion ($4.46 trillion) by the end of 2024, Yue wrote in an online post.
The private banking and private wealth management sector has performed particularly well, with AUM increasing by 15 percent year-on-year and net fund inflows totaling HK$384 billion.
This trend reflects the strong demand for Hong Kong’s wealth management services from high-net-worth individuals, Yue wrote.
“We are optimistic about the prospects of Hong Kong’s asset and wealth management market,” Yue noted, adding that economic growth and wealth accumulation on the Chinese mainland, along with enhancements and expansions to various Connect Schemes, will further broaden the client base for Hong Kong’s wealth management industry. He noted that global uncertainties are also prompting international investors to adopt more proactive diversification strategies to better manage risks.
The comment by the head of HKMA follows those of Hong Kong Financial Secretary Paul Chan Mo-po, who wrote in a blog post in June that “it is expected that within the next two to three years, Hong Kong will become the world’s leading cross-border asset management center,” Chan said.
According to Yue, the surge in Hong Kong’s asset and wealth management market is partly driven by the growing wealth in the Asia-Pacific region.
Hong Kong’s status as a regional hub for asset and wealth management is also supported by its inherent strengths, Yue said. Amid global uncertainties, the city’s mature financial markets, resilient Linked Exchange Rate System, robust banking sector, and vibrant capital markets offer numerous investment and value-enhancement opportunities for global capital.
As a global financial center, Hong Kong has the advantages of connecting to the vast market of Chinese mainland and radiating to other major economies. Its financial market is highly diversified and convenient, with sound business and legal environment, Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies at Renmin University of China, told Global Times on Monday, noting that Hong Kong is considered a “more friendly” platform for wealth management.
As the country further pursues high-quality economic development and high-level institutional opening-up, the scale of funds, market depth, and technological agglomeration effects in the Chinese mainland will expand rapidly, bringing Hong Kong unprecedented opportunities, Dong said. “During the process, Hong Kong will also need to improve its financial services, strengthen industrial and financial interactions, and help wealth management companies better share the dividends.”
According to the 2025 IMD World Competitiveness Yearbook, released recently by the International Institute for Management Development in Lausanne, Switzerland, Hong Kong’s global competitiveness rose by two positions to third place, marking its return to the global top three for the first time since 2019.
According to a business environment report themed “One Country, Two Systems: Unique Advantages” and released by the Hong Kong Special Administrative Region (HKSAR) government on July 30, amid the impact of trade tensions, countries and regions around the world are actively seeking external investment opportunities, and global capital is being reallocated. The report said Hong Kong is well positioned to help countries diversify risks and attract capital, businesses, and talent.
Yue wrote that the HKMA will continue working closely with the government, the industry, and the international community to drive policy innovation and promote market enhancements, further strengthening Hong Kong’s competitiveness and solidifying its position as an international hub for wealth management.
SCMP: From nose to tail, how China is reshaping the aviation supply chain show Beijing is continuing to reduce its reliance on foreign parts, close long-standing technological gaps and assert itself as a major player in civil aviation at all levels of the supply chain. 《南華早報》：從機頭到機尾，中國重塑航空供應鏈的方式表明北京正在繼續減少對外國零件的依賴，縮小長期存在的技術差距，並在民航供應鏈的各個層面上確立自己作為主要參與者的地位. https://www.scmp.com/economy/china-economy/article/3320682/nose-tail-how-china-reshaping-aviation-supply-chain?
The real reason the West is warmongering against China 西方對中國發動戰爭的真正原因 by Jason Hickel and Dylan Sullivan, Al Jazeera, 3 August 2025
OVER THE PAST TWO DECADES, the posture of the United States towards China has evolved from economic cooperation to outright antagonism.
US media outlets and politicians have engaged in persistent anti-China rhetoric, while the US government has imposed trade restrictions and sanctions on China and pursued military build-up close to Chinese territory.
Washington wants people to believe that China poses a threat.
China’s rise indeed threatens US interests, but not in the way the US political elite seeks to frame it.
WEALTH RETENTION
The US relationship with China needs to be understood in the context of the capitalist world system. Capital accumulation in the core states, often glossed as the “Global North”, depends on cheap labour and cheap resources from the periphery and semi-periphery, the so-called “Global South”.
This arrangement is crucial to ensuring high profits for the multinational firms that dominate global supply chains…
But over the past two decades, wages in China have increased quite dramatically. Around 2005, the manufacturing labour cost per hour in China was lower than in India, less than $1 per hour. In the years since, China’s hourly labour costs have increased to more than $8 per hour, while India’s are now only about $2 per hour. Indeed, wages in China are now higher than in every other developing country in Asia.
This is a major historical development.
This has happened for several key reasons. For one, surplus labour in China has been increasingly absorbed into the wage-labour economy, which has amplified workers’ bargaining power.
At the same time, the current leadership of President Xi Jinping has expanded the role of the state in China’s economy, strengthening public provisioning systems – including public healthcare and public housing – that have further improved the position of workers.
These are positive changes for China – and specifically for Chinese workers – but they pose a severe problem for Western capital. Higher wages in China impose a constraint on the profits of Western firms that operate there or that depend on Chinese manufacturing for intermediate parts and other key inputs.
CONSTANT THREAT OF MILITARY ESCALATION
The other problem, for the core states, is that the increase in China’s wages and prices is reducing its exposure to unequal exchange. During the low-wage era of the 1990s, China’s export-to-import ratio with the core was extremely high.
In other words, China had to export very large quantities of goods in order to obtain necessary imports. Today, this ratio is much lower, representing a dramatic improvement in China’s terms of trade, substantially reducing the core’s ability to appropriate value from China.
Given all this, capitalists in the core states are now desperate to do something to restore their access to cheap labour and resources.
One option – increasingly promoted by the Western business press – is to relocate industrial production to other parts of Asia where wages are cheaper. But this is costly in terms of lost production, the need to find new staff, and other supply chain disruptions.
The other option is to force Chinese wages back down. Hence, the attempts by the United States to undermine the Chinese government and destabilise the Chinese economy – including through economic warfare and the constant threat of military escalation…
UNPRECEDENTED TECH ADVANCES
The second element that’s driving US hostility towards China is technology. Beijing has used industrial policy to prioritise technological development in strategic sectors over the past decade, and has achieved remarkable progress.
It now has the world’s largest high-speed rail network, manufactures its own commercial aircraft, leads the world on renewable energy technology and electric vehicles, and enjoys advanced medical technology, smartphone technology, microchip production, artificial intelligence, etc.
The tech news coming out of China has been dizzying. These are achievements that we only expect from high-income countries, and China is doing it with almost 80 percent less GDP per capita than the average “advanced economy”. It is unprecedented.
This poses a problem for the core states because one of the main pillars of the imperial arrangement is that they need to maintain a monopoly over necessary technologies like capital goods, medicines, computers, aircraft and so on. This forces the “Global South” into a position of dependency, so they are forced to export large quantities of their cheapened resources in order to obtain these necessary technologies. This is what sustains the core’s net-appropriation through unequal exchange.
ALTERNATIVE TO WESTERN IMPERIALISM
China’s technological development is now breaking Western monopolies, and may give other developing countries alternative suppliers for necessary goods at more affordable prices. This poses a fundamental challenge to the imperial arrangement and unequal exchange.
The US has responded by imposing sanctions designed to cripple China’s technological development. So far, this has not worked; if anything, it has increased incentives for China to develop sovereign technological capacities.
With this weapon mostly neutralised, the US wants to resort to warmongering, the main objective of which would be to destroy China’s industrial base, and divert China’s investment capital and productive capacities towards defence.
WHY THE U.S. WANTS WAR ON CHINA
The US wants to go to war with China not because China poses some kind of military threat to the American people, but because Chinese development undermines the interests of imperial capital.
Western claims about China posing some kind of military threat are pure propaganda. The material facts tell a fundamentally different story. In fact, China’s military spending per capita is less than the global average, and 1/10th that of the US alone. Yes, China has a big population, but even in absolute terms, the US-aligned military bloc spends over seven times more on military power than China does. The US controls eight nuclear weapons for every one that China has.
FALSE NARRATIVE OF ‘CHINA THREAT’
China may have the power to prevent the US from imposing its will on it, but it does not have the power to impose its will on the rest of the world in the way that the core states do. The narrative that China poses some kind of military threat is wildly overblown.
In fact, the opposite is true. The US has hundreds of military bases and facilities around the world. A significant number of them are stationed near China – in Japan and South Korea. By contrast, China has only one foreign military base, in Djibouti, and zero military bases near US borders.
Furthermore, China has not fired a single bullet in international warfare in over 40 years, while during this time the US has invaded, bombed or carried out regime-change operations in over a dozen Global South countries. If there is any state that poses a known threat to world peace and security, it is the US.
The real reason for Western warmongering is because China is achieving sovereign development and this is undermining the imperial arrangement on which Western capital accumulation depends. The West will not let global economic power slip from its hands so easily.
[This is an extract from a report published in Al Jazeera on 3 August 2025. Link to full text attached. Professor Jason Hickel is considered one of the most insightful economists in the UK today. Dylan Sullivan is a notable social scientist from Australian academia.]
Chinese scientists draw on Ukraine war lessons and propose drone upgrades. At the heart of the proposal was an innovative concept: fitting compact, side-mounted rocket boosters to small or medium-sized drones so they can perform instantaneous, high-G manoeuvres in the final seconds before a missile impact. 中國科學家借鏡烏克蘭戰爭經驗，提出無人機升級方案。該方案的核心是一個創新概念：在小型或中型無人機上安裝緊湊型側掛火箭助推器，使其能夠在導彈撞擊前的最後幾秒內進行瞬時高G機動. https://www.scmp.com/news/china/science/article/3320573/chinese-scientists-draw-ukraine-war-lessons-and-propose-upgrade-pla-drones?
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