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After joining World Trade Organization (WTO), the Chinese Communist Party (CCP) has used the opportunity to vigorously develop military-civilian-integrated enterprises to serve the agendas of political clans. With the backing of state power, these enterprises managed by ‘pseudo entrepreneurs’ quickly grew richer. However, do these enterprise have real substance, when the technology, raw materials, core components and important software are obtained from foreign sources? The CCP is just using the power of dictatorship to drive people from the fields to the factories to assemble products, like a child assembling building blocks.
In China, there are no real private enterprises as all enterprises are obliged to fulfill any request by the CCP, or it will cease to exit. As a result, Chinese companies are losing credibility internationally because they do not always abide by the terms of agreement that they enter into. When CCP instructs management to break the contract, they have to comply. If CCP instructs unauthorized parts to be added to the product, they have to follow.
Let’s look at the two Chinese telecommunications companies. One is Huawei which now looks half dead, the other is Xiaomi which seems having its bag packed on the way out. Since US sanction in September 2020, Huawei market share continues to drop, it has now run out of chips available to produce its products. At that time, Xiaomi took the opportunity to pick up some market share but it is now unlikely to succeed. On January 14th 2021, U.S. Department of Defense listed Xiaomi as a Chinese military-controlled company. Xiaomi’s share price has fallen sharply. Consumers are unwilling to buy products from a company without ethic and credibility. Huawei and Xiaomi’s products are tools fitted with devices used by the CCP to spy on the users.
Most foreign enterprises operating in China have closed or moved away in the past few years. Domestic enterprises now owe more than two trillion yuan (RMB) in foreign debt.
It is time to wake up from this illusion of a ‘big and strong’ China. No countries will ever trust an evil regime. The latest sanction is only the beginning, the tide is turning which will ultimately eliminate all CCP controlled enterprises from the global market.
Editor: XO酱 MG4
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