Propagating 'China space threat' cliché, US is primary driver of space weaponization

Militarizing space. Illustration: Chen Xia/GTOnce again, the US is rehashing the cliché of the "China threat theory" - this time in space. Jeffrey Kruse, director of the US Defense Intelligence Agency, said during the annual Aspen Security Forum in a panel discussion on space and national security on Wednesday that the US is seeing from China a heightened "intent to use counter-space capabilities to threaten space."

The US' hyping of "China's space threat" seems to have become one of its routine practices. In February, Stephen Whiting, commander of the US Space Command, claimed that China is growing its military space and counter-space capabilities at a "breathtaking speed," listing China as the "pacing strategic competitor" in the space domain. In April, NASA Administrator Bill Nelson also mentioned his China-US "space race" rhetoric, claiming that China is militarizing its space program.

"This is a typical means by the US to manipulate public opinion and perception - first hype up a threat, then develop itself," Lü Xiang, a research fellow at the Chinese Academy of Social Sciences, told the Global Times. With the development of China's space technology, the US regards China as a hypothetical enemy, using this to pressure Congress and ask for budget, in a bid to strengthen US' space combat capabilities.

The US excels in presenting a robber's logic in an upright manner. Based on these purposes, the US has continuously propagated the "China space threat theory," slandering and defaming China. This is merely to maintain the US' military hegemony, projecting a Cold War mind-set and zero-sum thinking into space.

China has chosen a different path in space development compared to the US. While the US focuses on space technology for hegemony and arms races, China pursues a more peaceful approach. Former US president Donald Trump explicitly stated that it is not enough to merely have an "American presence in space"; it must have "American dominance." As the space capabilities of other countries continue to strengthen, the US' "space anxiety" rises, leading to an acceleration in space militarization. 

In 2018, the Trump administration officially designated space as a "war-fighting domain." The US has actively advanced its space military strategy by establishing the Space Command, creating the Space Force, and investing heavily in offensive space weapons. It has become the primary driver of space militarization and poses the greatest threat to space security. These actions will inevitably jeopardize the space development plans of countries worldwide, potentially sparking a space arms race and undermining global strategic stability.

In contrast, China firmly opposes the arms race in outer space and is committed to promoting negotiations within the international community to reach legal instruments for space arms control in order to safeguard peace and security in outer space through legal means. In 2008, China and Russia jointly submitted the draft Treaty on the Prevention of the Placement of Weapons in Outer Space, the Threat or Use of Force against Outer Space Objects (PPWT) to the Conference on Disarmament, which is significant in preventing the weaponization of space. However, the US has long passively resisted the space arms control process, causing the relevant efforts of the international community to stagnate. 

China's development of space technology aims to better serve human scientific and technological progress and civilization advancement. China acts out of public interest, whereas the US acts out of self-interest, highlighting a fundamental difference.

Meanwhile, China actively promotes international space cooperation. In June, after China's Chang'e-6 lunar probe returned with rare lunar samples, China announced that it welcomed scientists from around the world to apply to study the lunar samples. However, the US faces obstacles from the Wolf Amendment enacted in 2011 to curb China's space development, which explicitly prohibits space cooperation between China and the US. Foreign media have even called it "an extremely stupid reason." As a hegemonic power in space, the US maliciously suppresses other countries' legitimate space activities, which will ultimately backfire.

Space is global commons that should be a new domain of cooperation and mutual benefit, rather than a battleground for competition among nations. In the future of space exploration, China will continue to adhere to prioritize the peaceful use of outer space, and provide the necessary technical and knowledge support. We hope to see more dialogue and cooperation between countries in the space field. This will ensure that space benefits all of humanity, rather than allowing the US' manipulation of "China threat theory" to open the "Pandora's box" of space weaponization.Source link

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Time for Malaysia to keep its edge in global chips

 

The government’s new National Semiconductor Strategy provides a clear roadmap for the country’s move up the global technology value chain.

Penang’s Bayan Lepas Free Industrial Zone, home to hundreds of multinational companies, has succeeded because it offers everything these businesses need in one convenient location.

MALAYSIA’S semiconductor industry has been a source of national pride since Intel opened its first overseas assembly plant in Penang in 1972.

Since then, Malaysia has captured a 13% share of global testing and packaging, building a semiconductor industry that now accounts for 25% of gross domestic product.

The vibrant state of Penang is again at the top of the list for semiconductor investments, with dozens of major expansion projects underway.

There is a sense, though, that we are only scratching the surface.

With semiconductors only becoming more important to modern life, Malaysia’s chip sector is not just a business opportunity; it is an opportunity to put the country firmly at the centre of future supply chains in South-East Asia and around the world.

The government’s new National Semiconductor Strategy aims to do just that.

Backed by an initial RM25bil of public funding, the plan provides a clear roadmap for the country’s move up the global technology value chain.

The ambitious targets are a sign that Malaysia understands what’s at stake.

The government aims to attract RM500bil of investment into the sector, train 60,000 chip engineers and establish at least 10 Malaysian companies in design and advanced packaging.

None of this will be easy.

Chip factories and research hubs do not appear overnight.

Just putting a new chip design into production can take up to four months, involving hundreds of steps, including oxidation, photolithography, and etching.

Major new fabs or testing facilities can cost billions of dollars.

But while the new strategy will take time to show results, the stars are aligned in Malaysia’s favour. Businesses must look to seize this moment.

Building on strong foundations

For the best chance of meeting its semiconductor goals, Malaysia can call on a number of tried and tested ingredients.

The first is to acknowledge the power of free trade.

While semiconductor technology is in the geopolitical spotlight, Malaysia’s neutral position on global tariffs is a key part of its appeal to international businesses.

The country’s chip sector has a distinct advantage of being able to attract investment from both the United States and China – as well as many other countries.

Free trade zones are also a powerful pull for semiconductor companies that focus on re-exporting to overseas markets, such as in the outsourced assembly and test segment.

The concentration of skilled labour, specialised logistics and raw materials create an attractive ecosystem for new entrants.

Penang’s Bayan Lepas Free Industrial Zone, home to hundreds of multinational companies, has succeeded because it offers everything these businesses need in one convenient location.

Consistent policies

Consistent and coordinated policies are also critical in giving businesses the confidence they need to make long-term investment decisions.

The new semiconductor strategy ties in with Malaysia’s New Industrial Master Plan 2030, which emphasises the country’s digital infrastructure.

And, of course, sustainability will be a powerful enabler.

International technology companies demand access to clean energy to meet their own emissions objectives, so additional investment in renewable capacity and upgrades to the electricity grid will be needed to sustain the country’s competitiveness.

Collaboration between industry, government and utilities has produced encouraging signs: Intel’s rooftop solar installation in Malaysia is its biggest outside the United States.

Micron’s Malaysian facilities were the first in its global network to be powered by 100% renewable energy.

A historic opportunity

Demand for more advanced processing is also transforming the chip sector, as customers look for specialised hardware to support new technology, including artificial intelligence.

We see across the wider region that high-tech ecosystems generate valuable ancillary business opportunities – such as data centres, services, and advanced materials.

In Penang, a new crop of advanced semiconductor facilities from the likes of Infineon, Intel and ASE Tech will require new materials, new workers and new services.

The new semiconductor strategy recognises the historic opportunity ahead.

We must also acknowledge that it is a complex, globally connected industry, and that international competition for a share of higher-value front-end processes is more intense than ever.

That said, the success of hi-tech hubs like Penang – where HSBC opened its first office in Malaysia in 1884 – is a great example of how a diverse community, strong logistics and a supportive policy framework can facilitate the growth of a multi-billion-dollar industry.

The rewards of getting this right are tantalising.

In the new area of digital technology, semiconductors are only becoming more essential for businesses.

While the prize is significant, achieving it will require a deep partnership between industry and policymakers – underpinned by strategic planning, investment in skills and a commitment to free trade.

With all that in mind, Malaysia’s chip strategy could not have come at a better time.

Noor Adhami is HSBC’s international banking global head and Karel Doshi is HSBC Malaysia’s commercial banking head. The views expressed here are their own.

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China’s GDP expands 5% in H1; Understanding the force running deep in Chinese economy

 

China's GDP expanded 5 percent to reach 61.68 trillion yuan ($8.49 trillion) in the first half of 2024, data from the National Bureau of Statistics (NBS) showed on Monday, indicating the world's second-largest economy has sustained the momentum of post-pandemic recovery, thanks to a continuous improvement in overseas demand, a pick-up in home consumption, and stepped-up government policy support, despite facing internal and external uncertainties.

In the second quarter, the GDP grew by 4.7 percent year-on-year, slightly down from the 5.3-percent growth recorded in the first quarter. 

Observers said that the reading signaled that China is on a firm track to hit the annual economic growth target of around 5 percent in 2024. They also expected the tone-setting third plenary session of the 20th Communist Party of China (CPC) Central Committee to inject new impetus into second-half economic development and decisively lead the country to overcome rising headwinds to march toward Chinese modernization.

The 5-percent GDP increase in the first six months shows that economic growth is "stable" and that the economic operation in the second quarter has been keeping pace, Chinese analysts said.

"Though the GDP growth in the second quarter is lower than the first quarter, it's still a relatively fast growth among major economies, which builds a sound foundation for the achievement of the annual GDP target," Chen Fengying, an economist and former director of the Institute of World Economic Studies at the China Institutes of Contemporary International Relations, told the Global Times.

Factory activity remains a main engine for the economy, partly fueled by resilient demand overseas. The value added of industrial enterprises above a designated size jumped 6 percent year-on-year in the first six months, with the development of new quality productive forces showing more palpable drives.

Meanwhile, retail sales of consumer goods in the first six months were up 3.7 percent, and fixed-asset investment edged up by 3.9 percent, NBS data showed.

"The gaps between the supply and demand sides are narrowing, though the mismatch still persists. The domestic demand side shows a conspicuous rebound in the first half," said Zhang Jun, chief economist at China Galaxy Securities.

Chinese authorities have already put in place a bunch of measures to stimulate market demand, including the issuance of 1 trillion yuan ($138 billion) worth of ultra-long special treasury bonds as well as driving large-scale equipment renewal and trade-ins of consumer goods.

Analysts said that the fundamentals of China's economic recovery are anticipated to further stabilize and improve in the second half following the convening of the reform-themed Third Plenum that will map out a blueprint for the country's long-term development.

According to a Xinhua News Agency report, the plenum will primarily examine issues related to further comprehensively deepening reform and advancing Chinese-style modernization

In order to achieve the national target of basically achieving socialist modernization by 2035, China should continue to boost related reforms and innovations through developing new quality productive forces in order to enhance enterprises' innovation vitality and achieve high-quality development, Chen said.

Economists also took note of the sustained consumer spending recovery throughout the year. "Especially, the country's tourism industry reported robust growth over recent months, which will play an increasingly remarkable role in expanding domestic demand," Chen noted.

Though the Chinese economy faces internal and external challenges, such as the property sector correction and the increasingly volatile global geopolitical situation, Chen expresses confidence in the country's long-term economic prospects. "More efforts are needed to boost social confidence and unleash effective demand. To this purpose, we need more investment," she noted.

The implementation of more pro-growth measures and the bottoming-out of the property sector will also bolster the economic prospect.

Zhang suggested the authorities accelerate the issuance of special government bonds and further strengthen counter-cyclical adjustments to lower the overall financing costs for the real economy.

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Understanding the force running deep in Chinese economy

Photo: VCG

China's gross domestic product (GDP) reached around 61.68 trillion yuan (about $8.65 trillion), and grew 5 percent year on year in the first half of 2024, data from the National Bureau of Statistics showed Monday. In the second quarter, the country's GDP expanded by 4.7 percent year on year. These achievements are in line with the annual growth target of "5 percent" for the year, and are broadly consistent with the International Monetary Fund's expectation of 5 percent growth for China this year. It is expected that China's economic growth rate will continue to lead globally in the first half of the year.

With a more uncertain, complex, and severe external environment and new challenges from deepening structural adjustment domestically, the growth was "hard-won," fully demonstrating the strong resilience and great potential and vitality of the Chinese economy, while the fundamentals of its long-term sound growth remain unchanged. The Chinese economy is still a key engine for global growth and stability. In the global context, it is expected that China's economic growth rate in the first half of the year will still be faster than that of major economies such as the US, the Eurozone, and Japan. The keyword "stable" is prominent in the economic data for the first half of the year. China has stabilized growth, prices, and imports and exports, playing a stabilizing role in the turbulent global economy.

Another key word in the first half of the year's economic data is "progress," which refers to structural adjustment, transformation of development modes, improvement of quality, and enhancement of efficiency. The highlight of the first half of the year's economy is the transformation of industries toward "new" and "green": investment in high-tech industries grew fast, intelligent and green new products performed well, new consumption models continued to emerge, energy consumption per unit of GDP continued to decrease, and the resilience of energy security and industrial supply chains was enhanced. China's industrial upgrading and high-quality development are proceeding in an orderly manner. Some achievements are not directly reflected in GDP data, and some investments are yet to yield profits and returns, but they contribute to improving the "quality" and sustainability of China's economic development, enhancing the resilience of economic risk prevention, and these are important indicators behind the GDP.

The highlight of the economic data in the first half of the year is, to a certain extent, due to the precise efforts of policies. Whether it is the proactive measures of fiscal policy, such as tax cuts and increased public spending, or the flexible and moderate monetary policy, such as multiple reserve requirement ratio cuts and targeted support for small and micro enterprises, they have effectively promoted the stable recovery of the economy. In addition, the increase in support for key areas and weak links, the promotion of equipment renewal, and the exchange of old for new consumer goods not only directly stimulate demand, but also accumulate momentum for long-term development. Whether it is China's economic development or economic policies, they are filled with a long-term vision and a commitment to practice.

The Chinese economy is at a critical moment of transformation and upgrading, and determination is particularly required to eliminate any external interference. Interestingly, as China focuses on high-quality development, Western public opinion has been fixated solely on GDP when assessing the Chinese economy. Some Western media outlets have made a big deal about the slowdown in China's GDP growth in the second quarter, echoing the rise of trade protectionism and anti-globalization, attempting to deny China's latest achievements and suppress the positive momentum of China's economic transformation and upgrading. To some extent, in the first half of this year, the US' imposition of 100 percent tariffs on Chinese-made electric vehicles is actually the best proof of China's international competitiveness in the "new track" industry.

Commenting on the economic performance in the second quarter, the spokesperson of the National Bureau of Statistics said that the ups and downs in the economy may have formed the shape of a curving wave, but the underlying trend remains positive. This assessment is fair and objective. China's economy has entered a critical stage once again, and we are fully aware of the difficulties and challenges ahead. Since the beginning of this year, global economic growth momentum has been weak, inflation has been sticky, and issues such as geopolitical conflicts and international trade frictions have been frequent. The external environment facing China's development remains challenging. Domestically, there are also increasing challenges in economic operation, with the problem of insufficient effective demand being particularly prominent, and the domestic circulation not smooth enough. However, the fundamentals underpinning a stable Chinese economy have not changed, the momentum of high-quality development has not changed, and the positive factors driving economic transformation, upgrading, and high-quality development continue to accumulate.

China, as the world's second largest economy, has established a solid foundation for long-term development and continues to strengthen the internal driving force for sustainable economic growth. The Third Plenary Session of the 20th Communist Party of China Central Committee is currently being held to plan for further comprehensive deepening of reforms. The institutional dividends of China's economic growth will continue to be released, and its growth potential will be continuously stimulated. We are confident in the future of the Chinese economy, and our perspective on the Chinese economy should also be more forward-looking.

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