Is China the Future of Bitcoin, or Its Past?

A ChinaFile Conversation

China often dominates the market for Bitcoin, a virtual currency managed by a decentralized network of computers: at points over the last few years, China may have accounted for more than 75 percent of Bitcoin trading. Energy subsidies there make it economical to run electricity-intensive computer banks used to do the mining. In September, Beijing moved to curb Bitcoin trading in China, with what appears to be limited success. Is China the future of Bitcoin, or its past? And what does this say about Chinese regulators’ appetite for financial experimentation?

Exclusive: Russia’s Rosneft Aims for Big Boost in Oil Exports to China - Sources

Russia’s largest oil producer Rosneft (ROSN.MM) wants to boost its supplies of oil to China through Kazakhstan to as much as 18 million tonnes (36,000 bpd) per year from around 10 million tonnes in 2017, three industry sources said on Friday.

From Innovation to Provocation, China’s Artists on a Global Path

Strange to say, although China has 1.4 billion people, it has only one artist, Ai Weiwei. Or so you’d think if you followed the Western news media. “Art and China after 1989: Theater of the World” at the Solomon R. Guggenheim Museum wants to correct that impression. With work by some 70 Chinese-born artists and collectives filling most of the museum, it’s the largest American survey of its kind since Asia Society’s “Inside Out: New Chinese Art” in 1998.

Waiting Game for North Korean Workers in China as Shutdown Deadline Looms

On a quiet street in the embassy district of Beijing, a neon-lit national flag forms an impressive backdrop to an almost empty North Korean restaurant as young waitresses sent from Pyongyang stand around waiting for customers.

Nearly Dead on Arrival

An Excerpt from Michael Meyer’s ‘The Road to Sleeping Dragon’

I was a six-foot-two-inch rake whose strongest muscle was my mouth: at college I once talked down a mugger pressing a knife against my gut, and twice lost fistfights after telling off racists. I never felt big, but in China my size usually made me the largest person in the room. On this bus I was a head taller and two weight classes above the other riders. Yet, with my kindergartner’s vocabulary and dependency on others, I was also the smallest person there.

Little Soldiers

In the spirit of Battle Hymn of the Tiger Mother, Bringing up Bébé, and The Smartest Kids in the World, Little Soldiers is a hard-hitting exploration of China’s widely acclaimed yet insular education system—held up as a model of academic and behavioral excellence—that raises important questions for the future of American parenting and education.

When students in Shanghai rose to the top of international rankings in 2009, Americans feared that they were being “out-educated” by the rising superpower. An American journalist of Chinese descent raising a young family in Shanghai, Lenora Chu noticed how well-behaved Chinese children were compared to her boisterous toddler. How did the Chinese create their academic super-achievers? Would their little boy benefit from Chinese school?

Chu and her husband decided to enroll three-year-old Rainer in China’s state-run public school system. The results were positive—her son quickly settled down, became fluent in Mandarin, and enjoyed his friends—but she also began to notice troubling new behaviors. Wondering what was happening behind closed classroom doors, she embarked on an exploratory journey, interviewing Chinese parents, teachers, and education professors, and following students at all stages of their education.

What she discovered is a military-like education system driven by high-stakes testing, with teachers posting rankings in public, using bribes to reward students who comply, and shaming to isolate those who do not. At the same time, she uncovered a years-long desire by government to alleviate its students’ crushing academic burden and make education friendlier for all. The more she learns, the more she wonders: Are Chinese children—and her son—paying too high a price for their obedience and the promise of future academic prowess? Is there a way to appropriate the excellence of the system but dispense with the bad? What, if anything, could Westerners learn from China’s education journey?

Chu’s eye-opening investigation challenges our assumptions and asks us to consider the true value and purpose of education. —Stanford University Press

Book Review: 

A Parent Confronts Conformity in the Classrooms of China,” Alan Paul, The New York Times, August 24, 2017

U.S. Confronts China over Suspected Cyberattack as Fugitive Guo Wengui Appears in Washington

A suspected Chinese cyberattack on the website of a prominent Washington think tank drew a complaint from U.S. Attorney General Jeff Sessions this week in a meeting with top Chinese government officials.

Guangdong City Conducts Foreign NGO Law Outreach to Other Local Chinese Entities

Zhaoqing city in Guangdong province participated in two local outreach meetings in late September related to the Foreign NGO Law. On September 22, the Zhaoqing Public Security Bureau (PSB) Foreign NGO Management Office held a training session related to Article 43 of the Foreign NGO Law, which states, “Departments in charge of national security, foreign affairs, finance, financial regulation, customs, taxation and foreign experts shall oversee and supervise overseas NGOs and their representative offices according to their respective duties and in accordance with the law.”

Foreign NGO Law Discussed at the First U.S.-China Social and Cultural Dialogue

The Foreign NGO Law and civil society cooperation more generally featured at the inaugural U.S.-China Social and Cultural Dialogue on September 28. As described in the U.S. statement on the dialogue, “Both sides discussed China’s foreign NGO management law, and concurred that it will not impede the legal activities of American NGOs in China. The United States looks forward to consultations with China on the foreign NGO management law before the end of this year.” Key in this brief mention is inclusion of the word legal, which neatly concludes that only legal activities should be permitted, without specifying which types of NGO activity may be found illegal under certain provisions of the law. It is also noteworthy that both the Chinese and American read-outs of the dialogue note that the United States looks forward to additional consultations on the law but does not mention Chinese hopes or expectations.