06/3/13
Open-air shopping mall in Guangzhou – via Ray from Flickr

How Two Chinese Companies Plan to Change E-Commerce

Open-air shopping mall in Guangzhou – via Ray from Flickr
Open-air shopping mall in Guangzhou – via Ray from Flickr

What would happen if Amazon took a 30% stake in Twitter? Last month, Alibaba, China’s biggest e-commerce firm, announced that it would take an 18% stake in Sina Weibo, a microblogging service, with the option of owning up to 30% of the company. The $586m deal could be the precursor to one of the biggest experiments in data mining and marketing.

Alibaba is China’s e-commerce juggernaut, handling more transactions than Amazon and eBay combined according to The Economist. The firm offers consumer-to-consumer and business-to-business trading platforms in addition to online shopping malls. Weibo, another titan in its own right, is China’s most popular social media outlet. The service offers its 503 million users the ability to make short status updates and tag other posts. Much like Twitter, Weibo has a large celebrity user base that attracts millions of followers each day.

But it’s a different kind of user that catches the eye of Jack Ma, Alibaba’s chairman. Millions of Chinese consumers use Weibo to discuss the latest fashions and trends, post reviews and previews, and offer advice to fellow shoppers. Ma hopes to combine the wealth of consumer information that Sina has mined since Weibo’s inception and integrate it with Alibaba’s already impressive amount of user data. Reuters reports that both firms expect to see advertising revenue increase by nearly $400 million.

Charles Chao, Sina’s chairman, is enthusiastic about the synergy that Alibaba and Weibo will have together:

 “Weibo and Alibaba’s e-commerce platforms are natural partners. Together we provide a unique proposition not only to existing online merchants, but also to individuals or businesses, who wish to offer products and services on social networking platform to take advantage of the traffic shift toward social and mobile internet.”

 

For more information on Chinese financial news and social media, check out the following links:

The New York Times’ Dealbook

Chinese financial news from Bloomberg

An infographic on Chinese consumers

You might also be interested in the following courses offered at Baruch:

IBS 3000 Innovation, Technology and the Global Enterprise

IBS 4200 Foreign Markets, Cultures, and Institutions

CIS 3444 e-Business Technologies

CIS 3750 Social Media in Organizations

04/27/13
Hong Kong Port | Image Credits: Stan Dalone via Creative Commons

Weekly Newsmakers – Hong Kong: Stalled Ships Underlie Larger Problems

Hong Kong Port | Image Credits: Stan Dalone via Creative Commons
Hong Kong – Containers Terminal Port | Image Credits: Stan Dalone via Creative Commons

We are all familiar with strikes. Sometimes a strike will take a few days to resolve – sometimes much longer. In Hong Kong’s Hongkong International Terminals port, a strike has stalled global business and commerce since March 28th of this year.

Due to the strike, some cargo ships face delays upwards of 60 hours (whereas a typical wait time might only take about three hours). The delays have a vast global impact in the supply chain as costs increase due to ships being forced to reroute to nearby ports (in Guangdong, China or Kaohsiung, Taiwan) or coerced into skipping subsequent destination ports.

Although immediate commerce has been affected by the strike, the mere presence of a strike in the Hong Kong port is bound to take a toll on the economy in the long run.  Hong Kong’s unions are historically not as effective at negotiations (in comparison to American labor unions for example), so resolution of a strike like this may take an exorbitant amount of time.

With that in mind, the perspective of the workers on strike is also understandable. The rising cost of living in Hong Kong and the widening income gap has led to unrest from the working class. Workers take to the streets and protest several times a year to raise awareness of this problem and to pursue a solution. The workers on strike at the port lament the long hours and low wages. Port workers make 55 HKD per hour (the equivalent of $7 USD) and are hoping to negotiate a wage increase of at least 20%.

What do you think about the strike situation in HK?  Voice your thoughts in the comments section below.

04/19/13
Flags of Australia and China - Creative Commons

Weekly Newsmakers – Australia Strengthens Ties with China

Flags of Australia and China - Creative Commons
Flags of Australia and China – Creative Commons

Julia Gillard, Australia’s Prime Minister, visited China last week to negotiate a currency conversion agreement with China and to reassure China that its expanding military ties with the U.S. should not pose a problem to China’s interests.

The agreement would help position the Chinese yuan on a more focused path towards full convertibility on global markets. At present, the U.S. dollar serves as the world’s reserve preferred currency for trade and serves as the intermediary between Chinese and Australian trades. Australia’s move to secure a conversion deal with China may dampen the reign of the U.S. dollar as currency of preference for trading matters.

Gillard’s visit also aims to alleviate any unrest China may have in regards to Australia’s new defense agreements with the United States these past few years. The Australian PM noted that there was no competition between the United States and China for Australia’s allegiance. However, political critics claim that Australia is in the “Asia Century” believing that Australia’s economic well-being is tied to China, which happens to be its leading trading partner.

How do you think Australia’s visit to China will affect U.S. interests? Weigh in with your thoughts in the comments section below.

03/15/13
St. Patrick's Day | Image Credits: Matthew Roberts via Creative Commons

Weekly Newsmakers: St. Patrick’s Day Edition

St. Patrick's Day | Image Credits: Matthew Roberts via Creative Commons
St. Patrick’s Day | Image Credits: Matthew Roberts via Creative Commons

Welcome to another edition of Weekly Newsmakers – your source for summaries of fascinating news and events. With St. Patrick’s Day approaching, our Newsmaker this week and the Free in NYC events below are appropriately themed as such. Enjoy!

U.S. Demands China Block Cyberattacks and Agree to Rules – New York Times (Editor’s Pick)
The White House demanded Monday that the Chinese government cease any attempts to break into American computer networks. The public announcement was issued two days after China’s foreign minister, Yang Jiechi, refuted claims that the Chinese military had hacked into American corporations and some government agencies. The White House urges China to address the issue of hackers in China and to help create global standards in ethical online usage. In the past, U.S. officials have avoided singling out China’s connection to cyberespionage, as the White House is working with China to contain North Korea’s nuclear and missile programs.  Should the U.S. have called out China for the Cyberattacks earlier?  Tell us your thoughts in the comments section below.

Judge Halts New York City Ban on Large Sugary Drinks – CNN
This week, a New York state trial judge curbed Mayor Bloomberg’s plan to prohibit the sale of sugary beverages over 16 oz. in size in locales such as ballparks, restaurants, and movie theaters. Many brands of sodas, energy drinks, fruit juice/drinks, and sweetened teas would have been covered by the ban. However, supermarkets and convenience stores would not have been affected by the mayor’s plans. Bloomberg believes that stopping the sale of sugary drinks over 16 oz. would help control the obesity issue in New York where an estimated four of every ten New Yorkers are obese. “We believe that the judge’s decision was clearly in error and that we will prevail on appeal,” Bloomberg told reporters. Where do you stand on the sugar debate? Should NYC allow vendors to sell sugary drinks of any size or ban sugary drinks over 16 oz.?  Voice your opinions below.

Need some post-midterms stress relief? Try these events – almost certain to cheer you up from your test-taking blues!

Arias and Irish Songs – Weissman Center Reports

Ring in St. Patty’s Day with a free concert! The Underworld Productions Opera will be at YMYHWA of Washington Heights/Inwood for a limited engagement this Sunday at 2 PM. Enjoy Moore’s Ballad of Baby Doe, Danny Boy, When Irish Eyes are Smiling, and Mozart’s Abduction of the Seraglio and Don Giovanni, amongst many others. RSVP required at [email protected] Details: here.

Leprechaun Hike – Weissman Center Reports

Need an excuse to visit Staten Island? You’ve got one! On the Leprechaun Hike, join in exploration for treasure and hike a mile-long path through Greenbelt Nature Center. Dress warmly and comfortably. Register via email ([email protected]) or call 718-351-3450 to make sure there’s still space on the hike. Details: here.

MOCA Thursdays – Weissman Center Reports
In case you didn’t get a chance to visit last week, don’t miss out on free admission to the The Museum of Chinese in America every Thursday this month! Weaving rich history and culture into their insightful galleries, the experience is something visitors of all ages will enjoy.  Details: http://www.mocanyc.org/

03/8/13

Weekly Newsmakers: Keystone XL Pipeline, A Cure for H.I.V., China’s Hacking Motives – Plus Free in NYC

Welcome to another edition of Weekly Newsmakers – your source for news and events with an international focus.  We hope that you are preparing diligently for midterms (which are fast approaching).  For those fortunate enough to have some elusive downtime, the free events at the bottom of this post might help re-energize you for the coming weeks.

Cabinet Picks Could Take On Climate Policy – New York Times (Editor’s Pick)

Among the major factors in trying to refashion the American way of producing and consuming energy, President Obama’s nominees will have to tackle the Keystone XL pipeline decision, which entails transporting crude oil from Canada to refineries in Texas.  However, the Keystone pipeline poses a number of potential environment problems: risk of oil spills which could would devastate the surrounding landscape, and that petroleum extraction from tar sands creates significant amounts of greenhouse emissions.  Do you think the Keystone XL project is worth the environmental risks?  Tell us in the comments area below.

Researchers: Toddler cured of HIV – CNN (Editor’s Pick)

This Sunday, a baby had been cured of an H.I.V. infection for the first time in history.  Doctors treated the infant with an aggressive treatment procedure by administering antiretroviral drugs early, around 30 hours after birth, a methodology that was rarely practiced.  The findings are astonishing, and if trials on other babies conclude positive results, the procedure may hold the key to decreasing the large number of children living around the world with the H.I.V. virus (the UN estimates that 330,000 babies were newly infected in 2011).  Medical researchers are currently studying whether the ‘aggressive treatment’ can work for other babies.

As Hacking Against U.S. Rises, Experts Try to Pin Down Motive – New York Times

Many theories about China’s motives in hacking into American websites including Telvent, a company that monitors more than half the oil and gas pipelines in North America and the computers of the New York Times have arisen the past few months.  Perhaps China was planting bugs into American systems so they could cut off energy supplies and shut down the power grid if the United States and China ever confronted each other in the Pacific, rummaging for industrial secrets, or trying to steal American technologies and pass it along to China’s own energy companies. However, some researchers now believe that the Chinese attacks on American networks were cyber-espionage efforts to bolster the Chinese economy.

Thursdays at MoCA – Weissman Center Reports

Every Thursday, hop on the 6 down to Chinatown and enjoy free admission at The Museum of Chinese in America (MoCA), bringing Chinese history and culture to the public, with accessible and interactive exhibitions. Every Thursday, admission is free.  Experience MOCA’s newest show, With a Single Step: Stories in the Making of America, an exhibition spanning several generations of Chinese Americans, their contributions and hardships, and the highly contextualized politics between the Chinese and American governments. Location: 215 Centre Street. Thursday Hours: 11 AM – 9 PM.  Details: http://www.mocanyc.org/

Fisher Landau Center for Art Presents: Nancy Dwyer – Weissman Center Reports

Take a trip to Queens this weekend and check out an art exhibit celebrating 30 years of avant-garde art by Nancy Dwyer.  She and other “Pictures Generation” artists working in the 1970s – ’80s reproduced and appropriated images, graphics, and text from media and advertising. Dwyer’s work utilizes words and images in unexpected contexts, accentuating and subduing contextual meanings. Complimentary admission Thursdays through Mondays, from now to April 6th. Details: http://www.flcart.org/

02/18/13

Dispatches from China – Nanjing: An Introduction

Ever considered studying in China? If so, I highly recommend Nanjing.

Although Nanjing often seems to play second fiddle to the better-known cities of Beijing and Shanghai, Nanjing is still a gem of a city, owing to its rich history. Nanjing translates as “Southern capital” – a fitting name considering that the city was the historic capital for various Chinese governments, political movements, and dynasties such as the Taiping Tianguo, the Republic of China, the Six Dynasties, and the Southern Tang and Ming dynasties.

Nanjing is also home to Dr. Sun Yat-Sen’s resting place. (For those who may not be as familiar with Chinese history, Dr. Sun is considered the founding father of modern China – I’ll speak more on this topic in a future post).

However, take note that Nanjing’s weather is particularly extreme. Nanjing is unofficially known as one of the “oven cities” in China. Oven cities are located in southern China, where summers are particularly and unbearably hot and temperatures consistently peak above 95 degrees Fahrenheit. However, Nanjing is also notorious for freezing cold weather – something I experienced firsthand while living and studying in the city. I would recommend bringing lots of warm clothing. If you go in the spring, the start of the semester will be freezing, and if you go in the fall, the end of the semester will be extremely chilly!  Either way, you’re certain to have a refreshing experience!

Please stay tuned for the next article in this series!

If you ever have a question about study abroad, please visit the Study Abroad Office located at 137 E 25th Street (8th Floor).

Our walk-in hours change throughout the semester, so please have a look at our Twitter account for daily tweets about our office hours here: http://twitter.com/wcibatbaruch.