GOOD MORNING FROM LONDON
In the West, people generally struggle to understand the dynamics of development in China. It starts with prejudice against China’s political system because it is not based on One Man One Vote, 5 yearly National Elections or the UK concept of the Rule of Law. “China is not Democratic,” says the West as it strives to undermine China’s progress.
“The Chinese are not free; they have no rights; the Party is a totalitarian dictatorship; the people are not happy; the Government is always interfering; we, the West, must withdraw from China, de-couple from China until China becomes like us”.
There is a begrudging acceptance of the improvement in the material well-being of the people but, says the West, that will come apart at the seams, when the economy – mired in debt – explodes in a frenzy of declining living standards, increased corruption, and rising populist protest against the Party. The days of the Party and Xi Jinping are numbered – hopes the West. My prediction? The West has been so wrong about China for so many years and they will continue to be wrong.
Focus today on China will be the regulatory shake-up of China’s technology industry as reflected in the decision to limit children to just 1 hour of online video games on Friday, Saturday + Sunday only between 8pm + 9pm. Gaming companies will be required to enforce the rule by using real-name registration systems and login requirements
The reason? To protect the mental + physical health of the under 18s. Shares in the Game Producers fell significantly. A gaming analyst at Niko Partners says there are around 110m minors in China.
The new regulations come after Regulators labelled gaming as the “spiritual opium” of young people. There are many parents in the UK who will be wondering about how their children have been grabbed by the same Opium.