33 Burst results for "Jennifer Pack"
China Steps up Direct Involvement in Internet-Content Firms
"To china. The key index in shanghai fell two point one percent today. Shares in china based internet companies fell after china's market regulator moved to further tighten control over its technology sector with alibaba cent and jd dot com closing the day in hong kong between four and five percent lower. Marketplace's china correspondent. Jennifer pack is in shanghai. The draft rules would ban internet firms from things like exploiting user data by learning how customers behave or influence them to not choose a competitor's products or services it would also ban widespread marketing practices online like fake reviews or giving customers coupons in cash incentives. If they give positive reviews tech giants are also not allowed to limit traffic to other platforms. Like right now if you send an alibaba linked to a friend on we chat. The link doesn't open within we chat. These are tactics which have irked or angered users for while the draft rules are open to public feedback for the next month. It's part of an ongoing move by the chinese authorities to limit behavior by internet giants that the communist party considers damaging to social stability and national security already tech giants like alibaba and tencent have been heavily fined for anti-monopoly
"jennifer pack" Discussed on Marketplace with Kai Ryssdal
"Check it out. This is marketplace. I'm rozelle we're going to do a little behind the scenes in this next story. Little breaking the fourth wall around a piece that are china correspondent. Jennifer pack did back in april about one of the few remaining and affordable transportation options for poor chinese way out in the countryside. Slow trains serve called. It turns out that story was picked up. By one of china's government run newspapers translated into chinese and published so of course jennifer went looking for a copy this morning. My friend Sent me a picture. She saw a chinese translation of article in a newspaper called the global times but finding a newspaper in shanghai. These days is not an easy task. our news isn't charles jong though says he has managed to find a newspaper stand and on my way to meet him now. I tell the taxi driver my mission. He says he hasn't bought a newspaper in years he prefers to get information from social media like tick talks. China version called the lean towards oakland. We'll talk about you and we'll get the other push whatever content you're interested in each video user has his or her own style. And you can comment it's entertaining. He says unlike the government run media the global times translated our story into chinese about how the government trains help the poor but it cut out mentions of inflation or the high cost of living. She want to. I don't read domestic china's news because all government run news in china is fake taxi. Driver didn't give his name out of fear. 'cause you're foreign media. It's hard to say what would happen. I get out of the cab and meet up with her assistant charles and ask him. How many places did you go to before you found a newspaper. I talked to seven places and went to six kiosks. So i asked the man at the newsstand. Charlestown how's business pool new while you want to do an interview. You need approval from my leader. This is not what he told charles. Before i arrived with the microphone but we follow the protocol and apply for permission from his leader or parent company. China post the newsstand. Man though told charles that the story of disappearing newsstands is a sensitive one for his bosses. The don't want to make this story too. Big newsstands were set up by the shanghai government back in the late. Nineteen ninety s when scores of workers lost their jobs under a big economic reform policy and the government was proud to set up these newly out of work folks with newsstands but officials have since stopped supporting the stands..
China wants to go carbon neutral by 2060, which could mean kicking out some tech
"Inner. Mongolia is under pressure from the chinese government to reduce its energy use and the province has responded by cracking down on high energy activities. It's kerr tailing new steel and methanol production big data centers and banning cryptocurrency mining. That is notable because inner. Mongolia is a huge hub for crypto mining which requires a tremendous amount of electricity as supercomputers run millions of calculations to generate new coins. Jennifer pack marketplace's china correspondent. She says the environmental effects of crypto currency mining. Were in some ways an economic trade off. You have to understand that a lot of the latest where cryptocurrency mining is happening are poor places And so a lot of those local governments they want to attract these types of industries like crypto currency mining because it's generating economic growth for them and china's the biggest manufacturer of cryptocurrency mining equipment and also labor. These are the attractive features. Of and i don't think that just by one region in china trying to crack down on this would mean that china would no longer be a major player still will be. How will this. Crackdown potentially affect carbon emissions in that region at least in inner mongolia. If it goes according to plan it's going to go down but inner mongolia actually has a lot of Other renewable energies as well. It's just that cryptocurrency mining sucks up a lot of electricity but certainly china has committed itself to going carbon neutral by twenty sixty. And you can be sure that there will be a lot of pressure coming from the central leadership on these various places to get itself in line. You know all countries will have to reduce emissions to keep climate change on track for the goals that in the paris agreement big tack in general from bitcoin mining to these big power intensive data centers could be more of a target in the future right. Are there lessons. We can take away from this move. Definitely they're going to be the target. I guess There are other regions. As i mentioned where China also has cryptocurrency mining bases so in places like sichuan and they have rich hydropower So it's not always derived from coal but it is possible that could come from renewable energies. I guess it really comes down to the consumer right the demand because if you talk about the future of cryptocurrency mining it really just comes down to the profitability so it's likely that it will just keep shifting to wherever its most profitable the kind of mir's what's happened to labour-intensive industries right shoe shoe-manufacturing any other dirty industries that are undesirable. It usually just ends up to other places where the enforcement is rather lax if you will because they need the money for development. That's basically what the story is here in. Angola needed the money. Jennifer pack is marketplace's. China correspondent the amount of power. A cryptocurrency network is using is commonly referred to as a hash rate inner mongolia accounts for about eight percent of the global bitcoin mining hash rate.
"jennifer pack" Discussed on KCRW
"New York. I'm sorry, Ben, ashore and in Shanghai I'm Jennifer Pack from marketplace this final note on the way out today, a nod to the political again. Italy's got a new prime minister, not Ordinarily I know something that would merit a mention on this program. Except the new incumbent is Mario Draghi, who until a year and a half ago was the president of the European Central Bank, and before that was governor of the Bank of Italy. Imagine if you will, through some constitutional quirk. Former Fed chair Ben Bernanke getting the top job here or better yet, Janet Yellen, who is now actually in the line of presidential succession, and who Not for nothing has had a really catchy rap song written about her. Marketplace is supported by progressive insurance offering snapshot, a program that adjusts insurance rates based on safe driving habits. Now that's progressive. Learn more at progressive dot com or 1 800 progressive. And by Merrill Merrill. Guided investing helps manage a client's portfolio. Marilyn com slash investing goals. Marilyn Pierce veteran Smith incorporated, both a registered broker, dealer and investment advisor. Who's yelling Now? It's called Center website marketplace that order anyway. Here is your Friday moment of economic context. Ellie Fam, our intern who you've heard in the show credits the past year or so, wrap things up with his yesterday. Flew home from L. A on what she said this morning because she joined our zoom for old time's sake. I guess anyway, she said it was an uncomfortably crowded flight, which gets me to my old standby. Transportation Security Administration numbers yesterday, including Allie 1,034,514. Passengers were screened the first time over a million since just after New Year's. A year ago yesterday,.
"jennifer pack" Discussed on 90.3 KAZU
"Manufacturers more stuff than any other country in the world about 28% of total global factory output. United States in the second slot less than half of China's production and over the past decade, while Chinese manufacturing has grown as a percentage of its gross domestic product. Manufacturing here has decreased slightly by that same measure that's been a tad anxiety provoking in this country and to some degree was part of the Trump Administration's trade war. The President Biden is now going to have to deal with, by the way, so we asked. Marketplace Jennifer Pack and Supreme Benesch or What That relationship might look like on the ground. So there's this app called Wish. It's basically a direct line between shoppers in the U. S. And manufacturers in China. Americans order a lot from Chinese vendors. Take Elizabeth Taylor, who runs a cleaning business in Alta, Iowa. She's used wish to order a projector solar panel. I got little space hearings. They're like, little too little space man. The main reason she keeps coming back affordability. I mean, they've got pretty good prices. Those spacemen earing she bought. They cost her just $8, including shipping all the way from here in China, which is super cheap, But how is it that cheap labor for one We visited the wish vendor. Taylor bought her earrings from in Shanghai called Vasi, Warehouse Manager Joe Comedian and other staff are wearing their winter coats. There's no indoor heating. Still, she says. The job is pretty good. I'll bleeding top on. There's no overtime required. When I used to work in factories in southern China, I work 12 to 14 hours a day. 14.
China shows what a coronavirus recovery could look like
"Will stipulate here that there are sharp differences between the American and Chinese economies and between the way the two countries have and are handling the pandemic. But more than six months after the virus brought China and its economy to a standstill, it is on its way back Beijing reported day third quarter Gross Domestic Product grew at a rate of four point nine percent third quarters, July through September that is thanks to exports and the country's consumers but as marketplace's Jennifer pack reports now, from Shanghai, it is not. Clear how much more Chinese consumers can do retail sales bounced back for the first time this year in August and then rose again by three point three percent in September. But for Chinese, consumers to keep spending more though need help China's official unemployment rate dropped to five point four percent from the usual six but some experts say this figure doesn't factor in millions. Of workers from the countryside who are jobless in the cities and many more people went for months on half wages or with no pay at all unlike the US government China's Communist Party is not handing out cash to workers. So many dug into their savings to survive the fourth quarter started off with a week. Long holiday people spent seventy billion dollars on travel. Seventy percent of what they spent last year still there is a lot of excitement about China's recovery. It's on track to be the only major economy to grow this year
"jennifer pack" Discussed on KQED Radio
"Washington. I'm Scott Tongue and in Shanghai. I'm Jennifer Pack for markedly. November. 3rd 2020 is still more than 40 days and 40 nights away. But voting has already begun in a handful of states, including South Dakota, Minnesota, Vermont and Virginia. One of the ways we're keeping track of the economy. This election year is through a serious we call the United States of work. It's 10 people we found who form a sort of representative sample of the labor force as a whole. Gail Harrell is one of the 10. She works part time at a royal farms. Convenience store volunteers with AARP and, as it happens, has some very other relevant hobbies. In loud and county, Virginia. We haven't heard from her in a while. So we asked her to send this update in June. Actually kind of had, like a little. Don't say a nervous breakdown but it just it all got to me this covert 19. I mean, I can't go in, but I was just I was down, I guess you know, turning on newsy Stay here. And how many people have died as a cove? It it just it really got me. So do wasn't my best son. But I can't move in. Still working at Royal Farm. Continuous I had cut back on my days to a couple of days a week, but it kind of ended on another day, Nancy, I work three days a week, basically, and I work from eight to ones. I don't have a long day. Since the voting season has kicked in. I have been doing the absentee ballot stuffing envelopes to be mailed out. For about 11 years. I've been working as a poll worker this year is going to be different cause I'm not going to actually be working face to face with people. I'm going to be working behind the scenes because the cove it 19. So I'm going to be counting ballots receiving ballots and things like that. I'm not going to be at the poles the day of the election. I love doing it, though. I feel like I'm helping people. I'm helping helping the world and I can talk to people. I can tell them. They've got to get out and vote When people say no, I'm not going vote. It's not work unlike yes, you are going to vote. You have.
"jennifer pack" Discussed on KQED Radio
"She says she limits herself to only 30 minutes a day on Tic Tac's China version. Going otherwise, she'll keep watching health videos and never go to sleep. Her partner to a Ken Cheung tells me he gets neck cramps from watching doing clips on his cell phone. They are among the 400 million daily doing users in China and tens of millions of American tick talkers whose viewing data forms the base of the algorithm behind Tic Tac, and it's extremely valuable, says Tech journalists Do Chen with the Chinese new site paying West. They used the data to improve the contract recommendation, right? And that cultivates user loyalties and that user loyalty might be at stake. If tick talk gets passed off to a U. S company without the key to its algorithm, So even if Oracle gets to run Tic Tac's US arm, the deal might not be a slam dunk. After all. In Shanghai. I'm Jennifer Pack for marketplace. This has been a Monday of deals. Actually, Gilley had the pharmaceutical giant is spending $21 billion to buy immuno medics they make cancer treatments. And variety in the country's biggest wireless provider, is paying $7 billion for track phone, the country's biggest cellphone service reseller that phone industry speak for those monthly prepaid plans. Marketplaces Kristen Schwab looks at why a contract king like Verizon might want to expand into the contract. Less phone business. People who use a prepaid month to month phone plan are usually people who are living month to month. Angela See for directs the national digital inclusion Alliance having a prepaid phone. That means that you control what the.
The tick-tock on TikTok
"There There is is word word today today to to the the deal deal has has been been reached reached the the deciding deciding the the fate fate of of the the Chinese Chinese video video sharing sharing tiktok tiktok early early contender contender Microsoft Microsoft and and Walmart, Walmart, and and part part out. out. The The US US database database giant giant Oracle Oracle is is apparently apparently in in the the deal deal is is not not exactly exactly a a sale. sale. It's It's a a partnership, partnership, but but there there is is hope hope it's going to meet President Trump's requirement that China divest itself of that part of the company. However. Comma there could be less to this deal than meets. Oracle's is because China state media is reporting that one thing that won't come along with said partnership is the algorithm that makes tiktok. So addictive and thus lucrative from Shanghai Marketplace Jennifer pack has the latest TIKTOK has been one of the most downloaded APPs in the US. It's full of short and snappy videos that stream on a loop to users in over one hundred and fifty countries videos like this cute clip of kindergartners in China bouncing basketballs in sync. It was widely circulated on Tiktok and its Chinese version dogging every time someone likes or swipes on a video like that one the data is fed to the APPs parent company by dense. It's machines used the data to learn what users want to watch next much like other social media. APPS. But by dance has been investing in this technology for years and the result an APP that can tailored content for users within seconds Shanghai User Oh. Young Thai says she's hooked. Whistle Man. She says, she limits herself to only thirty minutes a day on talks China version building. Otherwise, she'll keep watching health videos and never go to sleep her partner to Tanjung. Tells me he gets neck cramps from watching in clips on his cell phone. They are among the four hundred million daily showing users in China and tens of millions of American. Tick talkers whose viewing data forms the base of the algorithm behind Tiktok and it's extremely valuable. Says Tech journalist do Chen with the Chinese new site paying West. They use the data to improve the content recommendation. And cultivates user loyalties, and that user loyalty might be at stake if Tiktok gets passed off to a US company without the key to its rhythm. So even if Oracle gets to run tick talks US arm, the deal might not be a slam dunk after all
Dont lose sight of the proposed WeChat ban
"Kids would be sad to lose tiktok but the proposed we chat ban could be a much bigger deal from American public media. This is marketplace tech I'm Ali would. We've been covering president trump's proposed ban on Chinese owned Tiktok but the president is also proposing to ban the Chinese APP we chat both of those orders could go into effect later this month Washington says, the APPS expose American user data to China's government, which is a possible national security threat. With we chat, there is real concern about surveillance and censorship, but the APP is indispensable for communication between people outside China and those inside the country, and it is equally essential for American businesses who want to reach Chinese customers Jennifer pack as marketplace's China correspondent Shanghai. If I could give you an analogy, it would be like if somebody said, you couldn't use facebook twitter Amazon then Mo zoom goal all at once it's so vital for two key reasons. So one is it's a communication tool, but more and more it's a marketing. Tool for businesses to reach potential Chinese consumers. The second and more important point about we chat is that it has its own payment tool we chat pay, and with this, you can open chat shops which a lot of smaller brands do. So it's really no wonder that the American of Commerce in Shanghai. Had done a quick survey recently and found that eight percent of respondents said banning we chat entirely is going to be really bad for their competitiveness and revenues. Wow. So it sounds like there's a couple things at play here one is. Literally, the ability to do business on we chat, but the messaging part is a really big deal to right because there aren't a lot of easy pathways for communication between the United States and China exactly there is no substitute I mean right now if you were to try to reach somebody in China, it's usually through we chat people don't even call each other on their lines. It's the we call. So if American businesses if they're completely locked out maybe they have to find an intermediary do you have a sense of weather American companies or Chinese companies might be pushing back about this ban I. Think There Are already is a group that has been petitioning the trump administration to at least show what's the basis for this ban the trump administration has cited national security reasons, and certainly we chat does censor. There have been people who have sent links and then the police calls them or they show up at their door, and obviously we had as a communication tool also means that Chinese officials can use it to intimidate dissidents overseas in the US, for example, or also those with family members in China but at the same time, because it's such a crucial link between the China and US business markets and also consumer base. Here, in China you know there's obviously going to be pushed back. We we just don't know how successful it's going to be. Is there a sense that some American companies could suffer more than others? Yeah for sure. I'm. So what's been laid out so far is that there are best case scenarios in worst case scenario. So the first one is a partial ban and that might mean apple and Google just have to remove. We chat from their US APP stores which still leaves a little bit of room for people in the US to bypass or find creative ways to get we chat sort of like. The way we get US APPS that are banned here in China. The worst case scenario is a total ban meaning apple and Google have to remove their APPs from their APP stores worldwide that includes China. So this is less of a worry for Google because Google APPs for doesn't exist in China, it's banned but for apple would be devastating because you know what's the point of people in China buying an iphone if they can't use we chat and as you said, of course, people use it as a communication tool not only to reach customers. But also for their staff we send documents to each other photos. Video all the time It's really a very handy tool because it's all in one. Jennifer pack as marketplace's China correspondent.
"jennifer pack" Discussed on KCRW
"I'm some revenge ashore in for David Brancaccio, who's on assignment. The latest flare up between the US and China is Tic Tac, the video sharing APP President Trump threatened to ban the APP Friday, setting national security concerns. Tic Tac's parent company in China Bite, Dance says despite a possible ban in the US, it remains committed to its global audience. For more here is marketplaces. China correspondent Jennifer Pack in Shanghai. Tic Tac's owner by dense is headquartered in Beijing. And because of this, U. S officials are worried that by dance could let the Communist Party of China access the data TIC TAC, collects from American users and allegation, denied by bite dense and the Chinese government over the weekend by dense released a statement on Chinese social media, saying the firm faces all kinds of quote. Complex and unimaginable difficulties, alluding to the U. S. China Trade Tension Plus Cultural Differences by Dance also accuses Facebook, its competitors in overseas markets of smear and plagiarism. No doubt, referring to Facebook's release of a tic tac like product called Instagram reels. A memo from Beit Dances CEO to its staff leaked to the Chinese Tech news site. Ping West says Tic TAC is committed to serve American users and has no choice but to sell its U. S operations. Microsoft confirms it is now currently in talks to takeover Tic Tac's operations in the U. S. Canada, Australia and New Zealand. A few comments on the Chinese Web, say U. S action against TIC Tac is fitting since China blocks US tech giants like Facebook, Google and Twitter in Shanghai. I'm Jennifer Pack for marketplace. Disney reports quarterly earnings this week. Like everybody else, it's had its ups and downs in the pandemic. It had to close down theme parks and Doc Cruise boats early on. Now it's negotiating the reopening of some parks around the world and further on the plus side. It has Disney plus marketplaces. Andy Euler has more Much of what Disney does involves density packing people into theme parks. Movie theaters cruises, Lloyd Greiff is CEO of an investment bank in Los Angeles. So if there was ever a poster child For being vulnerable to covert 19 in terms your business model. Disney is it, he says Disney was flying high just six months ago. Now things were very different. So does he has Tio, I think be rethinking the model in this environment, and it's starting to capitalize Moron people staying at home. Disney purchased 21st Century Fox last year and recently started a new streaming service Disney Plus that attracted a lot of attention when it aired Hamilton Abraham Ravi teaches finance that Yeshiva University, he says Disney's diversified enough to hold on even if the pandemic last for a while, if they could go back to normal, so to speak. By the end of the year. They should be okay. They'll have losses, but they should be able to withstand it. One key for the future, he says, is for the company to keep adding subscribers to Disney Plus I mean the Euler for marketplace. Let's do the numbers. The Dow Jones industrial average is up 138 points. That is half a percent. Yes and P 500 also up 1/2 a percent, the NASDAQ up 9/10 of a percent. And the 10 year Treasury yield is that 100.555%..
The latest on TikTok: Microsoft takeover talks, a potential U.S. ban and more
"Latest flareup between the US and China is tiktok again, the video sharing APP president trump threatened to ban the APP Friday some policy makers of said TIKTOK poses a national security risk because it could share the US user data with the Chinese government. Something tiktok has repeatedly denied tiktok parent company in China Bite Dance says despite. A possible ban in the US it remains committed to its global audience for more. Here's marketplace's China correspondent. Jennifer, pack Shanghai tiktok owner by dense is headquartered in Beijing, and because of this US officials are worried that by dance could let the Communist Party of China access. The data tiktok collects from American users and allegation denied by Bite dance and the Chinese government over the weekend by dance released A. Statement on Chinese social media saying the firm faces all kinds of quote complex and unimaginable difficulties alluding to the U. S., China trade tension plus cultural differences by dance also accuses facebook. It's competitor in overseas markets of smear and plagiarism. No doubt referring to facebook's release of a Tiktok like product called instagram reels a memo from BITE DANCES CO to its staff leaked to the Chinese tech new site. Ping West. Says Tiktok is committed to serve American users and has no choice but to sell its US operations Microsoft confirms it is now currently in talks to take over tick talks operations in the Canada Australia and New Zealand. A few comments on the Chinese web say US Action Against Tiktok is fitting since China locks US tech giants like facebook, Google and twitter in Shanghai I'm Jennifer pack for marketplace.
China rolls out fresh data collection campaign to combat coronavirus
"At least the number of new cases of Kobe. Nineteen seems to be dropping but precautions are still in place including heightened surveillance and now there are concerns that even after the threat of Corona virus eventually passes. The government may be sitting on a lot of data about people's day-to-day lives and that could have potentially dangerous consequences. Jennifer pack is marketplace's China correspondent based in Shanghai. I asked her what information she has to turn over on a daily basis. Right now if I enter into our office block any public buildings I have to sign my passport. Numbers cell phone number. I have to record my temperature whether I've left Shanghai during This entire month have visited. Who Bay Province? Which is the epicenter of the virus outbreak And this happens also in my residential compound I have to get passes. So this is part of the spread. The fight against the spread of the virus in the name of that so a lot of people are willingly providing it But of course now there are companies and also government officials requesting even more data right so what companies are requesting more data for example. I've noticed that when I go to purchase my bubble tea or when I'm at a restaurant They're asking me to scan a Qr code and order from there to order on we chat and then they get all of that data because of course we chat is linked to we chat pay and to access that. I have to link my bank account a scan of my passport. So it's asking for a lot of information. Where does the state ago and before I used to resist by just telling them that? My battery has run. Could they not just take down my order? And in some cases the businesses say well our machine has broken or we don't have any cash on hand right now because businesses are just starting to get back up. I'm so they're forcing you to use mobile payment. They're saying well. At least this reduces the contact between you and our staff. It's for your protection. And what do you and other people in China? Worry about this sort of constant data collection. Well I think it's just the unknown and that's always the case right. So companies are all being asked to take the temperature of every staff to take their travel history details To record down their home addresses phone. Numbers like all of this data a lot of times. You can't resist because if you resist it. You're just not allowed in in terms of me. My concern why. I'm always just worried that All of this information is being collected because they know all of my details. The point is is that not all of this was connected and so went once. All of this is connected. Then that big data becomes very very powerful. Could the Chinese government use it to target people they do not like Jennifer? Pack as marketplace's China correspondent based in Shanghai the country has been using drones facial recognition and qr codes to track people's movements one company in. China said it had an algorithm that could determine whether people were wearing masks
Inside China's digital war on information about COVID-19
"To contain the spread of Cova nineteen the corona virus. It's using a lot of tech drones to send thermometers to buildings. Apps to track cases of the virus but China is also trying to contain the spread of information and descent and that includes tactics like slowing down the Internet and stopping even arresting people who are streaming information. Jennifer pack is marketplace's China correspondent based in Shanghai. She told me what it's like to live with censorship that's both visible and invisible on daily basis. When I turn on computer I have to not only get onto the Wifi But also turn on the VPN to access the outside web. And then I also have to log into a second. Vpn FOR OUR office. I mean there was a day where it took me forty minutes and I could not even access. My G mail couldn't access my work. Email coincidentally when the Internet got really bad Was also the time when Dr Lee when young died So his death sparked a lot of public anger and it was Florida around this time wherever the Internet just got really slow and so it's it's literally slow like you see a lot of buffering. You have to wait nothing loads. You're not getting error messages or anything. It's just sort of mysterious. Is it like a hope that people will just give up and stop trying sort of I mean it comes in a variety of ways Sometimes it could be artificial intelligence so On our we chat moments. Sometimes you can post something on there but you can't forward it from a friend or you can link to an article one day but you can't link to it another day. Sometimes you're trying to get onto a news website or a news article that is from the official state media and the internet speeds kind of happens sometimes retroactively. So it's just very confusing. And so you just don't really know and that's that's the crux of the problem.
"jennifer pack" Discussed on WNYC 93.9 FM
"The government to extend the lunar new year holiday third turn toward picture is mixed though given the reality that nine hundred people have died and there are more than forty thousand people if infected in China some companies medical equipment suppliers most particularly have worked through the break but a lot of businesses have decided to extend the holiday further or maybe just have people work from home market place Jennifer pack has been working in Shanghai frontrunners traffic station a public service announcement calls on China citizens to battle the New corona virus the PSA features presidency team he says he's confident China can win what he calls the people's war against the virus and businesses are joining in like fashion a company that makes facemask at its factory in southwest from high dozens of machines cut and sew carton pieces into disposable facemasks every item manufactured here used to be sold overseas most recently to Australia during the bush fires and I must say that got him a job you know we've after Israeli and clients to source from elsewhere because of this virus outbreak we need to help China that's company chairman will show room is showing off his factory as part of a government organized press tour fashion is one of at least a dozen factories immobilized by the Shanghai authorities to redirect their face masks to China but it hasn't been easy when the factory restarted production on January twenty first most of the oceans workers were in their home towns for the lunar new year holiday.
Chinese workers are staying home because of coronavirus
"This was one of those days where the spread of global economic unease could be tracked by the sequential closings of the major stock indices. Tokyo and Shanghai down down a lot Europe down a lot American markets down a lot the cause of course is the spread over the weekend of the Corona Virus Eighty now Dan in China twenty eight hundred more infected a handful of cases in other countries including here the Chinese government meanwhile has extended the New Year holiday by an extra three days. Hoping that'll help contain the virus. But it's going to come. Those closings will with some real economic costs to talk about him. We've got marketplace. Replace Jennifer Pack on the phone from Shanghai Jennifer. Hey so first of all. Tell me what it's like when you walk out the door of your apartment onto the streets of Greater Shanghai would you. Yeah yeah it. Shanghai is not officially under lockdown But it certainly feels like a ghost town. I came out from the office tonight at eight. pm I'd never seen the streets that empty But the people I do see on the streets they're all wearing face mass And regularly we do have face masks for pollution protection but now I guess is it doubles out to protect us from virus. But I have to say it's quite pleasant to get on the subway nearly empty now the really excellent Shangai subway I would add What about masks supply? I mean can you get them. If you need 'em I imagine they're. They're flying off the shelves Well the pharmacy right outside my apartment that they sold out But as I said Shanghai residents they already had a supply of facemask anyways because they're very aware of pollution. Maybe not everyone was wearing it. So of course People are searching for it but certainly the government wants to make sure that everyone is wearing one so that they can protect themselves and stop the spread of this virus so to the government and this extra three days of holiday So I a couple of questions number one. What is what's IT GONNA mean for workers? Well what it means is that they had to stay the home longer And what does that mean in terms of pay. Well it really depends on what industry they're in so we know that factory workers for example will be probably hit the hardest because they don't get paid unless they work on. We understand that even before the holidays they were being sent home early on unpaid leave because the factories were not getting enough orders. I anticipate office workers that they would be following the rules and so they are supposed to be paid. But it's a very complicated system here in China because because we we call this a seven day holiday but in actuality only three days are paid the other two days they have to make up by working on two separate Sundays and the reason the government does this is because they want people to travel and spend but of course in here in Shanghai the government and also soochow they're asking businesses to Extend this holiday for another week So of course that's going to hit businesses and those businesses. They would just take the hit in their own Bottom line on right. I mean it's not like they're going to be made whole by the government exactly but I have to say you know. This is a tough economic environment. And what's really fascinating is that In the last couple couple of years bankruptcy rates have gone up because the government has made it easier for businesses to declare bankruptcy and in some of those cases. We have asked the employees. Like you'll see worker Kerr saying that they have not been paid for months sometimes even for a year And they will say well. We understand that. It's a bad economic time and it's happening industry-wide when am I supposed to do jump to another company and there's this real mentality that you know the work unit is like their family so they work hard then maybe they can help the company get out of the bad times and they'll get paid last question a little bit off topic. But what's the What's the buzz? What's the vibe about The government's response bonds to this any sense of that. Well as you know. People are not allowed to criticize the central government But they are allowed to criticize. Local Government went on a lot of the anger has been directed towards the mayor of Han. which is at the epicenter of the outbreak and he actually came out in an interview with local media at meeting saying that they responded too slowly or release the information to slowly and this is part of the problem about containing this virus? Is that people just do not trust trust The information so that's kind of breeding into this whole outbreak and why it's taking so long to contain it Jennifer pack in Shanghai. Thanks Jennifer
U.S.-China trade deal swaps tariff rollbacks for farm, energy purchases
"Has the have the US and China struck a mini trade deal too published reports say the two sides have agreed in principle for the US to remove or delay plans tariffs on Chinese exports and for China to buy more American agricultural products and there is a briefing in Beijing do in just about thirty five minutes market place's China correspondent Jennifer pack in Shanghai has some context over the past eighteen months president trump has announced delayed then renounce terror some Chinese goods even industries not affected by terrorists are taking a hit some Chinese manufacturers tell us their clients worry that Chinese products not subject to tears today could be while floating at sea towards the U. S. tomorrow SO factories are receiving less orders or orders in smaller quantities factory bosses ask themselves tough questions should be cut staff numbers what if business bounces back and they can't hire people because there is a labor shortage big manufacturers already struggling with higher production costs have moved to cheaper countries in Southeast Asia and once these new supply chains are formed it's much harder to shift back as for US businesses who sell to the Chinese market they start to scrutinize every contract not renewed visa not approved spot check by the government they wonder are they the victims of a Chinese government retaliation and that might make them think twice before investing more in China in shock hi I'm Jennifer pack for market
China Insists U.S. Removes Some Tariffs to Reach a Trade Deal
"A senior Chinese official today indicated Washington and Beijing have come up with a plan to phase out some tariffs as part of the first phase of the trade deal but there is no timetable here's market place's Jennifer pack China's commerce ministry says if the many trade deal is to be reached with the U. S. both sides must cancel existing terrace emphasis on if so far the US has imposed terrace on two thirds of Chinese imports and China has retaliated with tears on almost all American products like beef and fruits some items have been subject to multiple tears to match the U. S. because the Chinese do not buy as much from American firms a Chinese official says the two sides should remove the terrace in phases and at the same time removing terrace has been a key demand from Chinese negotiators in another sign that talks are going in the right direction Chinese state media says China is thinking of lifting a previous ban on US poultry it's not clear when any trade deal will be signed the US is set to impose a new round of tears mid
"jennifer pack" Discussed on KCRW
"The big military parade in Beijing marks seventy years since the founding of the people's Republic of China and in Hong Kong pro democracy protests that turned into running street battles with riot police both of those protests and the celebrations come as president trump continues his trade war with China the central theme of which has been and I'm paraphrasing here but only slightly the China has been beating American global trade and that he is not gonna let him rip us off anymore so we said market place Jennifer pack to find some of the people benefiting from that big win her series this week is one of one migrant worker and her family take a look at your shoes if they're made in China and nearly seventy percent of shoes sold in America are they probably came from factories into one city hi one that had a lead out mom and some may have passed through the hands of time only she left her village in central Henan province in two thousand and three and when some nine hundred miles away to working shoe factories into one post on the is still farming doesn't bring in much income and I have two small children to feed so I asked my husband to look after the children well I went to find work in the city and it wasn't easy for her to leave her children were just five and fourteen we are no fun at home my my my my my daughter cried mommy don't leave so I lied on my shoulder money is going to earn some money to buy a bike for you that was the only way my husband could send me to the railway station I cried the whole way back. eventually she found a way to this factory called tongues yen which produce issues mainly for U. S. France Kenneth Cole is its biggest client the factory boss Tony tone was initially manufacturing shoes in Taiwan but then labor costs shot up so he moved to mainland China in one city in nineteen eighty nine a well done soul soul reactions Holly said was I was about to build a factory so many workers scramble to get in that they nearly broke the door down at first he says he paid above average wage about a dollar fifty a day per worker by the time time only enjoying his staff in two thousand and six the salaries were around three times higher at a hundred and forty dollars a month almost as much as she could earn in a year planting cotton in her village this is why for four decades hundreds of millions of people left the countryside to make goods for the rest of the world. work force was very cheap it was very productive and that's basically what Dr China's economic miracle for many many years Jeffrey cross all works in Hong Kong with the advocacy group China labor bulletin he says work conditions were tough you'd have to sleep in a dorm tree with a toll ten other people and twelve hour days six days a week remain typical China tightened its labor laws about a decade ago but Chris all says enforcement is lax his group has recorded hundreds of labor strikes and protests every month. still factory jobs remain one of the few ways people like tie home lean can earn a living she only has a junior high education yet the money she's made over the years has helped put her children to school pay for her son's wedding as well as a two story family home in her village money if I see him I'm satisfied with this job at least it's better than working in my village so does she see herself as a winner well not quite her current salary almost six hundred dollars a month is seen as too high by many manufacturers woman to be in this industry is now moving out from China it's the same as what happened to the U. S. in the past a lot of people have lost their jobs to cheaper places like Vietnam and Cambodia millions of Chinese have benefited economically from the communist party's reforms to mark the anniversary tilings factory is closing for six days of holiday instead of the usual one but she's not in a celebratory mood and I'm not happy for you I'm not happy that I have more holidays because they usually work the holidays for extra pay no older less this month compared to last year and she wants to work every available hours she says to give her family a better life in.
"jennifer pack" Discussed on KCRW
"If Bonzi more attractive this week stocks less. So the Dow is currently down one hundred seventy points, seven tenths of one percent, the S and P five hundred is down five tenths percent. It's down two point two percent since this time a week ago, the NASDAQ at the moment, down four tenths percent. China's state run media Evan making not so veiled threats that the country could use important minerals against the US in the trade war today. The people's daily newspaper ran a commentary saying that America is a big consumer of these rare earths, and that it's an allusion to the US is self sufficient in processing these marketplaces, China. Correspondent Jennifer pack joins us now from Shanghai. Welcome. Good morning, David, or what are rare earth reminders? So they're a group of seventeen medals that are used to make everything from your iphones, flat screen TV's, even weapons. All right. So rare, it's rare metals. Are they rare actually? No, they could be found in a lot of places. But here's the thing refining is a rather toxic process. So the dirty work has been largely left up to China because here the environmental standards are lower. All right. So the, the processing facilities, but how might China use these rare earth against the US as a pressure point in this trade war. Well, they might restrict its output, which on the surface seems very simple. Right. China is the world's largest producer of rare earths it's accounts for about eighty percent of the market. So if China cuts production, the US can't buy as much should be disaster for America. Right. But it's actually more complex than that. China doesn't just sell to the US restricting output, could then push up global prices, it will punish other customers. And also, the US while they do buy a lot of rare earths from China overall, the demand is low, because a lot of manufacturers that require these rare earth. They've actually moved to China. So it's really unclear what the true impact will be if. If China really does want to use earth's as a bargaining chip in the trade talks. All right. Marketplace's China correspondent Jennifer pack and Changhai today. Thank you. Thanks, david. Marketplace morning report is supported by ADP committed to designing a better way to work. So everyone can achieve what they're working for ADP always designing for people. Learn more at designed ADP dot com. Wagmans grocery chain is opening a store in Brooklyn, New York, this fall and that news has some fans in a state of rapture. One person on Twitter said having a Wegmans opened in Brooklyn during her birthday month is the best present I could ever receive. So what else said they'll not move to Brooklyn just because that stores coming marketplace's Mariel cigar reports now on how this is just one example of what the marketing world calls cult brands Matthew Bennett lives in Phoenix, but he commutes almost every week to San Francisco, where he works as an executive at a credit union, and he always flies on Southwest Airlines, actually, he's kind of obsessed with southwest. He also keeps miniature models of its planes on his desk. He taught his three year old son to recognize south west jets when they fly over his house. So this is crazy. I look forward to the Southwest Airlines earnings calls, just so that I can understand what the company strategy is, and he so loyal, he won't fly anywhere. Southwest doesn't so that causes. Most international travel office list. I'm not interested in another experience. People are willing to do irrational, things for these products that they wouldn't do for another product, BJ, Blencoe.
"jennifer pack" Discussed on KQED Radio
"In China in Shanghai. I'm Jennifer pack for marketplace. We live as we all know in a connected world. Our phones our TV's are toothbrushes. Everything is online. Also. Now, it seems diverse smart diapers. Technically Huggies released mart diapers in Korea last October. They could become an here this summer like waters wrote about it for vox, welcome to the program. Thank you. We're gonna void the scatalogical here. But what exactly are smart diapers? Gonna do for us. Basically. What smart diapers? Do is they send you text messages here smartphone about essentially, your baby's bowel movements. And so they can do they can measure the pressure in the temperature of these birds, and they can also track whether you're baby poops R peas they come from bluetooth sensor attachments. Gotcha. You put to the outside of sorts built into the diaper. It's a thing. You put on the diaper. Right. Exactly. So you remove it with each change. I'm just thinking back to my days as a newborn, and and that would just seem to be one more thing you need to worry about a changing time that that said. We ought to point out here before we get to far this diapers are already pretty highly engineered items in this economy, right? Yeah. I mean since disposable divers have been introduced which happened at the end of the nineteen forties. Diaper brands have poured billions and billions of dollars into research for diapers. And there's been a bit of a diaper arms race. So to speak around creating these new diapers. These new designs and making each company more and more competitive because there isn't inherently a huge difference between different brands, they're just slightly different price tiers. And is that what this is then I mean, this is a step in that arms race. Because honestly, I don't need a text when my baby does its thing. Right. Not a lot of people. Do I mean? And that's part of the interesting thing about this. I think there's this extra pressure on diaper brands to develop diapers that are more expensive, and that can give them more of a profit and because the birth rate in the US is declining. And so companies like Kimberly Clark, which develops Huggies has problems with financials because of the shrinking birth rate. And they've cited recent layoffs because of the birth rate should sales, obviously, right? If you're means fewer diapers. And so these companies are need to increase their margins. Yeah. Absolutely. It's frustrating. Birth-rate musici- ranking market for baby diaper brands, a word here about the internet of things. This is sort of you got smart refrigerators, you got smart garbage cans, and now we got more diapers. Yeah. Absolutely. I mean, another way that companies are increasing their profit margin by investing and these more expensive products, basically in the same companies that are making these libraries also have stuff like smart toothbrushes laying powered toothbrushes that cost like two hundred ninety dollars which is infinitely more than regular toothbrush in it. It is a way to charge more. Sure. Speaking of cost how much it's gonna cost me. If I want to bluetooth up. My baby's diaper. So an exact price has not been finalized in the US. The estimate is that only about two hundred fifty dollars. Seriously. Yeah. And it is to be fair. It is for this reusable sensor. So it's not like you pay two hundred fifty dollars for each diaper. But it is absolutely far beyond the price. Like most people want to pay anything related fact. But also, let's be clear here. Right. I mean, there are many many millions of people who can barely afford or cannot afford disposable diapers to begin with right about a third of parents estimated not to people to avoid diapers into companies like Huggies credit. I mean, they are trying to invest in like, the national diaper Bank network, for instance, which provides free diapers parents. But this is very clearly a play to like an upper class market as it were of the diaper market, like water ready in vox about bluetooth enabled diapers. Believe in Michael. Thanks a lot. Thank you for having me. Let's do the numbers. Sucks did regain some of the ground. They lost on Monday. The Dow is up two hundred seven today eight tenths percent twenty five thousand five thirty two. The NASDAQ climbed eighty seven points about one point one percent seventy seven thirty four P five hundred gained twenty two points eight tenths percent twenty eight and thirty four there apple is one of those sensitive skirmishes in the trade words, apple found one and a half percent. Still though down about ten percents since may the fifth when the president tweeted about ramping of tariffs on all that Chinese stuff. Cheers, Walt Disney advanced one point four percent after the entertainment giant's degree.
"jennifer pack" Discussed on KCRW
"In China in Shanghai. I'm Jennifer pack for marketplace. We live as we all know in a connected world. Our phones our TV's are toothbrushes. Everything is online. Also. Now, it seems diapers. Smart diapers. Technically Huggies released smart diapers in Korea last October. They could become an here this summer like a waters wrote about it for vox, welcome to the program. Thank you. We're going to avoid the scatalogical here. But what exactly are smart diapers? Gonna do for us. Basically. What smart diapers? Do is they send you text messages to your smartphone about essentially, your baby's bowel movements. And so what they can do is. They can measure the pressure in the temperature of these diapers, and they can also track whether your baby poops R peas they come from bluetooth sensor attachments. Gotcha. You put to the outside of the built into the diaper. It's thing you put on the diaper. Right. Exactly. So you remove it with each change. I'm just thinking back to my days as a newborn, and and that would just seem to be one more thing you need to worry about a changing time that that said we ought to point out here before we get to far into this. Diapers are already pretty highly engineered items in this economy, right? Yeah. I mean since disposable divers have been introduced which happened at the end of the nineteen forties. Diaper brands have poured billions and billions of dollars into research for diapers. And there's been a bit of a diaper arms race. So to speak around creating these new diapers. These new designs and making each company more and more competitive because there isn't inherently a huge difference between different types of brands. They're just slightly different price tiers. And is that what this is then I mean, this is a step in that arms race. Because honestly, I don't need a text when my baby does its thing. Right. Not a lot of people. Do I mean? And that's part of the interesting thing about this. I think there's this extra pressure on diaper brands to develop. Up diapers that are more expensive, and that can give them more of a prophet because the birth rate in the US is declining. And so companies like Kimberly Clark, which develops Huggies has problems with financials because of the shrinking birth rate. And they've like cited recent layoffs because of the birth rate, which it sales, obviously, right? If you're a baby's means fewer diapers. And so these companies are need to increase their margins. Yeah. Absolutely. It's frustrating rate means a shrinking market for baby diaper brands, a word here about the internet of things. This is sort of you got smart refrigerators, you got smart garbage cans. And and now, we got smart diapers. Yeah. Absolutely. I mean, and it's another way that companies are increasing their profit margin by investing and these more expensive products, basically in the same companies that are making these cyber also have stuff like smart toothbrushes laying powered toothbrushes that cost like two hundred ninety dollars which is infinitely more than a regular toothbrush in it. As a way to charge more. Sure, speaking of cost how much is it. Going to cost me if I want to bluetooth up. My baby's diaper. So an exact price has not been finalized in the US. Yeah estimate is that about two hundred fifty dollars. Seriously. Yeah. And it is fun to be fair. It is for this reusable sensor. So it's not like you pay two hundred fifty dollars for each diaper. But it is absolutely far beyond the price that like most people want to pay anything diaper related. But also, let's be clear here. Right. I mean, there are many many millions of people in this economy who can barely afford or cannot afford disposable diapers to begin with right about a third of parents are estimated not people to avoid diapers into companies like Huggies credit. I mean, they are trying to invest in like, the national diaper Bank network, for instance, which provides free diapers parents. But this is very clearly a play to like an upper class market as it were of the diaper market, like water, ready and.
"jennifer pack" Discussed on KCRW
"Who's on assignment the US has high tariffs from ten percent to twenty five percent on two hundred billion dollars worth of Chinese exports? The administration says this is because China backed away from commitments at the last minute. The Chinese government says it will take necessary counter measures. We don't yet know what those might be. Meanwhile, President Trump has been tweeting this morning. He said, there's absolutely no need to rush to make a deal and negotiations are continuing today. Let's turn to Jennifer pack. Marketplace's China correspondent inching. Hi. Good morning. Morning. President Trump is threatening to escalate things even further and put tariffs on the rest of Chinese exports. Oxford economics is US tariffs on China have cut US growth by about a tenth of a percent, so far, but what's China feeling? Well, we've heard one estimate by the former head of the People's Bank of China. Joe south Tryon last year, saying that half a percent could be knocked off from growth, but officially they have been downplaying the impact you've talked to say about the possible impact on China. Well, they said it's going to be mixed that, of course, it's weighing down on manufacturers. Like the ones we speak to their pretty desperate because at ten percent. They say they can handle it. But twenty five percent, they said they can't keep in mind that China's government has said they're going to help out some of these industries. So the industries they want to keep the government is going to help them with the subsidies. But the ones that they don't they're gonna let them fail. Or have them move out of the country. Marketplace, China correspondent, Jennifer pack. Good talk. You thanks for having me. An assistant secretary at the Commerce Department has resigned over disagreements on the roll out of high speed five G, wireless technology. David Reddell step down yesterday after complaining in a speech Monday about divisions within the Trump administration. Marketplace's Nancy Marshall genzer has more on that David riddle was unusually blunt in his speech. He said the administration's current approach to five G is not sustainable rental has been involved into Sagredo among Trump administration officials over how to allocate airwaves for five gene, which is needed for self driving cars and smart appliances, the FCC wants to press ahead. But the Commerce Department is worried that freeing up wireless spectrum for five G could interfere with weather forecasting. Nasa is afraid of interference with its satellites. They want wireless carriers to install protections that would prevent interference. But wireless company say that would be too expensive. Marketplace's Nancy Marshall guns are. Thanks you. Welcome. Let's take a look at the numbers. The footsie in London is up two tenths of a percent. Dow SNP NASDAQ futures are down in the six to eight tenths percent range. No doubt on trade news with the Dow future down one hundred fifty four points the ten year. Treasury yield is at two point four five percent..
"jennifer pack" Discussed on KQED Radio
"Of the US population. In Shanghai, Jennifer pack for marketplace. All the theory that in this economy everybody while we're talking companies here. So mostly every company deserves a second chance we bring you now chapter eleven of the federal bankruptcy code specifically. Why companies that declared bankruptcy don't always die? That's the title of the piece in vox the other day by Elisa Brooke walk in the program. Hi, hello. So let's do the history here. First before we get into the actual primer part of this conversation where did and why did bankruptcy become a thing in the United States in the American economy. Yes. So then krupps coffee kind of as a way for companies to restructure themselves dais back to the nineteenth century. And so it kind of came about. Because of the railroad boom, basically railroads were overbuilt some players necessarily failed. The railroad company is kind of lawyers up and worked up system where they would kind of be able to stay in business but their creditors would turn into shareholders. So they were basically trading debt for equity, and that's where chapter eleven bankruptcy comes from. And that's basically the provision in the bigger quote code that allows companies to restructure rather than just liquidating and going out of business. And the catch is really that these companies bankrupt, though, they may be there has to be a legitimate reason for them to continue to exist, in some way, shape or form, right? Yes. This is something that sounds so basic, but companies do need a reason to be in business. And so that's kind of. Question that they're asking themselves when they're thinking about do we want to restructure do wanna liquidate are they going into bankruptcy because they have too much debt, but they still have strong sales or have all their customers left in that case, maybe restructuring isn't the way to go. And that's the modern retailer versus Amazon thing. Right. I mean modern retell Shabina tough time because in some way, shape or form because in some way, there is new exist as has gone away because Amazon's there. Yeah. And so this is this is the big reason why I've written about bankruptcy. It's come up a lot in the retail environment. Lately. Sears toys R us Clair's American peril. Mattress firm. There are a lot of retailers that in the last few years have gone bankrupt. And it's because these are these retailers that grew by expanding their store fleets by just putting down more and more stores. So they're kind of buckling under that weight. And a lot of layoffs. A lot of them are going bankrupt. Just because a company goes into chapter eleven which is the restructuring chapter of the bankruptcy code. Does. That mean that they're eventually going to be okay. Once they go through the reorder they all necessarily gonna come out. No. And so that's that's the big thing chapter eleven bankruptcy often ends in a company going under anyway reorganizations very often fail. And so one thing that, you know, a lot of there's there's a joke. I hear in the bankruptcy business, which is chapter twenty two. And that's when a company goes bankrupt comes out of it. And then almost immediately goes bankrupt. Again, is this uniquely American thing. The the ability to to sort of go broke as it were. And and sort of try again. I mean. Yeah. This is this is an interesting thing. And this is where it kind of gets philosophical, bankruptcy reorganizing under bankruptcy. That is certainly a thing that Cording to the professors that I talked to has kind of been an American export it does it does play into this American ideal of you know, this being a place for second chances. And you know, that you're history doesn't determine your future necessarily that's kind of mythology that has been disproven insert ways. But I do think that it it ties nicely into it. Rook reg post recently invokes about.
"jennifer pack" Discussed on KQED Radio
"S China trade talks wrapped up in Beijing. Last week. The agenda was basically same same intellectual property for technology transfer the really big sticky issues, what is not being discussed much opening the Chinese market to this country's biggest technology companies Facebook, Google, Amazon Twitter and all the rest there may not perations as we know them in the United States. Just don't exist in China. So marketplace's Jennifer pack sent along this postcard from Shanghai. What a Google internet. Looks like over there. The first thing I like to do when I get the office is to check the latest news so a web browser, and let's see what do we have a news dot com. Doesn't work. It's not loading this site. Can't be reached. That's usually a sign that it's been blocked. Some locks are partial like marketplace's website loads funding, but the search function doesn't work. China's great firewall is it's often referred to helps the authorities restrict the flow of information in and out of the country, but on the streets of Shanghai, most Chinese people don't notice the absence of big US tech firms because instead of Google they have by do search by do drive and by do maps instead of Facebook Twitter, and what's up they have ball, and we chat instead of YouTube or Netflix, they have Yoku IT and tencent videos and Chinese apps work. Well, like rideshare platform.
What internet search is like behind China's Great Firewall
"This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post a job in minutes set up screener questions than zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed dot com slash marketplace. That's indeed dot com slash marketplace. Look into internet life behind the great firewall of China from American public media. This is marketplace tech demystifying the digital economy. I'm jed Kim in for. Molly would. This week activist shareholders in alphabet, the parent company of Google spoke out against development of Google Dragonfly. That's the internal codename for a project reportedly working on a censored search engine for China. We hear a lot about web censorship in China. But how does it work? What's it like to use? It we called marketplace. Correspondent Jennifer pack in Shanghai before we officially started. The interview Jennifer wanted to check something with Bing, the one US search engine that operates in China. Yeah. Being it wasn't going. Well, well, you're experiencing what it's like to have the internet in China, which is that I have to switch between turning on and off VPN. She takes forever. And now I have to restart. My computer Jennifer has reported from inside China for years. She says censorship is getting stronger. It used to be that. If you had steered clear of what? We call the three t's Tiananmen Tabet. Anti warn talking about the sensitive topics about independence or the protests that happen TNN. Then you're pretty much safe. But increasingly this list has gotten longer and longer and it changes day by day. So in some instances, if it's banned search term, you will get a message that says sorry, you were trying to access something that is in violation of Chinese law. So you know that it happened. But there are other instances where you just get a limited number of search results. But you don't even really know that it's been censored do Chinese people, even call it censorship. I mean, that's what we would call a here. But like when you're living it, how do you refer to it. I don't think that the majority of people in China realize that what they're getting is censored because remember their media years also censored, and I have to say the internet works, very fast. If you are restricting yourself to just Chinese tools searching in. The Chinese language within China. The problem happens when you're trying to access web sites outside or you're trying to access Chinese language websites, which have sensitive information negative information about mainland China. That's when it becomes a bit more difficult to access up. But does not completely shut off because sometimes people will say, well, I can still get it. There are tools and ways to get around it. But the purpose of censorship in China is not to stop all information from coming in. It's just to stop the average person in China to make it difficult enough for them to access these websites that they just eventually give up those sensitive surge have any kind of economic impact. And I mean like does it lead people to make less informed decisions about business or like household finance business and economic news and information used to be quite open and for business journalists it used to be very open as well. But increasingly they're facing a lot of pressure to. Not report the news because now economics has become political right with the US China trade tensions. And all of that, Jennifer pack is marketplace's China correspondent I asked her how she gets through the great firewall online. She wouldn't say didn't want the government to catch on and block her work arounds. I'm jed Kim. And that's marketplace tech. This is a PM. This marketplace podcast is brought to you by backlog, developers know, the importance of officiency and transparency when it comes to collaborating on a team backlog is the perfect software development tool for managing issues from start to finish create tasks and track progress with features like Gant and burn down charts. Tackle bugs update teams on various issues and push code out from get to backlog, do all this and more with one easy tool. Try backlog for your team free for thirty days using the special URL backlog dot com slash marketplace.
iPhone sales fall in China, but fans abound
"That funny. Caterpillar is today's global economy. Four letter word heavy equipment maker posted disappointing profits this morning. I guess is why anybody China, of course in the slowdown there. But Caterpillar is not the only company that has been hit by the softening in China, apple cut. It's quarterly revenue spectators last month because of poor iphone sales there. So we send our China correspond, Jennifer pack to talk to some apple customer. She sent this report from Shanghai when the iphone first came out. It wasn't officially available in China. So the only place to get an iphone with electric market like this one. Some of the vendors here got a hold of phones from the US and Hong Kong and sold them on into close in two thousand seven the price of the first iphone was about six hundred dollars which was higher than the average monthly salary back. Then apple reseller, Mr. Ma he doesn't want to disclose his full name because he's been selling phones on the gray market since the devices I launch he says apple prices have only gotten higher since with the hyped match. Team will make you the Bondo Jillian local news reports. Say in twenty eleven a teenager wanted an iphone ipad, so bad. He sold his kidney to pay for them. China says that by twenty fifteen one out of every six people with the cell phone in the country was using an iphone tech, commentator and social media influence once you was one of them. The. I still have about twenty apple products. I use five of those on a daily basis, but after he dropped eighteen hundred dollars on the latest iphone ten s max, he says, it might be the last iphone he buys what you're the poverty and be meal. Total would the experience on the iphone didn't exceed my expectations and the prices much higher than Chinese brands like, wow as made twenty model, which has better features for Chinese users. He's also frustrated with Apple's customer care service. Apple CEO. Tim cook has said the firm respects, China, but Wonka says he hasn't felt it to general social Fava about many iphones. We're not launched in China. I they were sold in the US or Hong Kong. Now, the phones are released at the same time in China. But what about localizing some features? They don't have many apple seems to respect our money. But does it respect our culture our use habits? No, apple isn't the only firm. Having a hard time in China fewer. People are buying cell phones. Overall in part because users have invested in good smartphones. And don't feel the need to upgrade as often add in more Chinese competitors. And over the last two years apple sales have fallen to fifth place behind the likes of away and show me. But if you walk on the streets of Shanghai or Beijing iphone seem to be everywhere apple is still setting the trend in China says writer, Stephen Schwenk, erred who covered the arrival of the iphone in the Chinese market and identifies as a lifelong apple lover up almost be doing something, right because all the competitor seem to be producing almost the same product. But with a different name at a different price point. Back at the electrons market. Apple reseller jomie says she's been selling more secondhand. I phones up to five day likely because the newer models are too pricey. Driver, Mr. wall. He doesn't want to use his full name for fear of government retaliation. He sees his iphone as the status symbol. You into buying the knife phone is like buying a car, you have China-made cars and imported once people only care about the brand Huguet and for him. The iphone is the Mercedes Benz of cellphones in Shanghai. I'm Jennifer Pap for marketplace.
"jennifer pack" Discussed on KCRW
"I'm Sabrina short in for David Brancaccio. Who's on assignment China announced its official economic growth figures this morning. The country's GDP grew six point six percent in two thousand eighteen about what an outside analysts expected. It was the slowest pace of growth since nineteen ninety for China. Marketplace's China correspondent, Jennifer pack reports. This latest figure came out just days after China revised its GDP for twenty seventeen saying the economy grew at a slower pace than it had previously reported. That's no coincidence says analyst, Dan. With Economist Intelligence Unit in Beijing. We think the reason for that is to lower the comparison base. So twenty eight hundred number will look better. But even China's statistics show, it's a Konami isn't expanding as fast as before mainly because the state has been controlling pollution and risky borrowing at Indian certainty of the U S, China trade dispute and the Chinese economy is set to slow down again in two thousand nineteen but it's not all bad. News says analysts Wong done for investors in energy sector, dealmaking or infrastructure related industries. It should be a relative that Goodyear names with China's national bureau of statistics says the Chinese economy is still strong will will you change your tweet each and neither says China has the fastest growing middle class in the world bigger than the population of the US many foreign firms rely on Chinese consumers for growth and China's companies, and it's people are buying more. Just not as much as before. Which is why the rest of the world is bracing for impact in Shanghai. I'm Jennifer pack for marketplace. And let's do the numbers..
"jennifer pack" Discussed on 90.3 KAZU
"First of all the apple news of last week. The shortfall in iphone revenue entirely said apple CEO, Tim cook due to China and number two Beijing. Yes. Just yesterday reporting the first drop in auto sales in twenty years, Bullock, there's data. And then there's what people are really doing. Right. So are China? Correspondent Jennifer pack went out onto the streets of Shanghai to get a sense of how Chinese consumers are actually feeling. It's a gray and rainy day here in Shanghai. But that's not stopping shoppers from coming here to nine hundred pedestrian street. It's a very popular shopping area where you can get gap. There's a Tudor house set cells Korean makeup a Rolex shop a Chinese pharmacy with so many choices water people by. You'll baby clothes says who you and Wyoming. Sheldon Fong and his friends are shopping for handbags and jewelry for their wives while snacking on sticky rice, desserts, but otherwise children phone says he's cutting back on spending. The company I work for isn't doing. Well. It's metal parts factory. He says he hasn't received his salary for a few months. So he's cancelled an annual visit to his home village for the upcoming lunar new year holiday. Down the street. Loud music plays from clothing shops to attract customers, like don't you? Wait who spent his entire salary every month? So has he felt the economic slowdown? See you Danielle. She says.
"jennifer pack" Discussed on KQED Radio
"And people's finances. Thanks a lot. I appreciate your time. Thanks for having Two data points now about the Chinese economy that might give one pause first of all the apple news of last week. The shortfall on iphone revenue entirely said apple CEO, Tim cook due to China and number two Beijing. Yes. Just yesterday reporting the first drop in auto sales in twenty years, Bullock, there's data. And then there's what people are really doing. Right. So are China? Correspondent Jennifer pack went out onto the streets of Shanghai to get a sense of how Chinese consumers are actually feeling. It's a gray and rainy day here in Shanghai. But that's not stopping shoppers from coming here to ninety pedestrian street. It's a very popular shopping area where you can get gap. There's a Tudor house set cells Korean makeup a Rolex shop a Chinese pharmacy with so many choices water people by. Twenty baby clothes says who you in Wyoming. Sheldon phone and his friends are shopping for handbags and jewelry for their wives while snacking on sticky rice, desserts, but otherwise Xiaojun phone says he's cutting back on spending. The company I work for isn't doing. Well. It's metal parts factory. He says he hasn't received his salary for a few months. So he's cancelled an annual visit to his home village for the upcoming lunar new year holiday. Down the street. Loud music plays from clothing shops to attract customers, like don't you? Wait who spends his entire salary every month? So has he felt the economic slowdown? So you Danielle he says and many shoppers here tell me.
China's economy cools as trade war with U.S. heats up
"China's economy grew at six point five percent in the third quarter. That is actually slow for China. It's been on a debt fueled growth spurt for some time. Six point five percent is the slowest pace of growth there since two thousand nine. This slowdown is happening. Of course in the context of a trade conflict between the US and China. Marketplace's trying to correspondent Jennifer pack joins us now from Shanghai. Good morning. So is this slowdown directly a result of US tariffs is that what we're seeing not really the figure only covers the first nine months. So it's not going to reflect the latest and heaviest round of tariffs the US imposed on two hundred billion dollars worth of Chinese imports which only began at the end of September. Instead what we're seeing is a reflection of China's domestic issues mainly the government raining in debt are officials in China concern that US tariffs might actually make their economic situation worse. No. Because officials have said they have the tools to withstand US tariffs because Chinese goods to the US only account for three or four percent of the GDP. I've spoken to analysts who feel there really is a very strong narrative among the Trump administration that the Chinese economy was in the slums, and that the terrorists will bring China on its knees, but they really don't see that they say if you look at both consumption of goods and services and income growth, the picture really doesn't look that bleak. Well, if this current decline is not really trade related is there any concern that it could become trade related that. The current slowdown in growth could make it harder to withstand pressure from Washington over trade going forward. Sure it limits. The tools China can use to cut financial risks. But the real vulnerability is really, psychological. If consumers feel tougher
China moves to block internet VPNs from 2018
"To marketplace weekend we're gonna stay with china and go from trade wars to the internet china blocks a lot of things on the web but for years firms could bypass this using certain tools like vpn's virtual private networks well the government in china is closing a lot of these loopholes marketplace's china correspondent jennifer pack joins me from shanghai thanks for coming on thanks for having me what me through what is blocked in china well the list is always changing but for now facebook youtube twitter new york times wall street journal bloomberg and all things google are blocked here now there are chinese equivalents of these tools but for all intents and purposes china's internet is really an internet behind what's known as the great firewall and how do they go about blocking access when you mentioned some of these entire sites but what do they do well they blocked the ip address if they want to block the entire sites but some of the filters have become very sophisticated so sometimes they can block specific articles within a new site they can block particular search terms chinese internet companies are regularly given lists of blocked keywords that of course stops you from searching them on search engine sites but also on instant messages like on our we chat app so for example searches that do not follow the china government line on taiwan tibet and tiananmen those are for sure blocked but this list of course is always evolving and the problem is is that oftentimes you don't even know if it is blocked or if it's an internet error because sometimes it just shows up and says it's an internet air or sometimes the pages still loading loading loading but it never comes up and you know the reason that we're talking now is question that foreign businesses have sorta found a way to circumvent this tell me about that.
US Foreign Trade
"Two of the world's biggest soybean shippers they fell ahead of expected retaliation from china now chinese officials say they don't like having this large trade deficit with the us either and so they suggested that one way to remedy this is to remove the restrictions on american high tech exports to china at the same time senior officials in china have pledged to open its lucrative markets wider to foreign firms and even said there will be no force transfer of technology so potential costs on the us side of the ledger but the intention of these tariffs is to persuade chinese officials to stop coercing us based companies from giving up their their trade secrets yes the chinese officials have already said that the government plans to open up its lucrative markets wider to foreign firms and premier league a challenge even said that the manufacturing sector will be fully opened and they will not require foreign firms to transfer their technology to domestic competitors but a lot of businesses here are a bit concerned because while it sounds good on paper there are many more barriers that china has to get rid of before they can have an even playing field when they're doing business here in china or replaces china correspondent jennifer pack in shanghai thank you need to check the markets here the footsie index in london is down five tenths percent but del sbn nasdaq futures are down pretty sharply in the case of the nasdaq future down one point two percent s and p future down seven tenths percent after the fed raised interest rates yesterday the ten year treasury yield is actually down two point eight five percent leaders in congress have come up with a tentative federal spending deal to keep the money flowing to the federal government through september they have until tomorrow night to pass it to avoid a shutdown the bill includes about five hundred million dollars for a major infrastructure upgrade in the northeast a new commuter route under the hudson river between new york and new jersey that amount is a compromise the trump administration had pushed back marketplace's dan gorenstein has more on the economic development angle two thousand passenger trains carrying eight hundred thousand riders a day right across the northeast from boston to washington but centuryold infrastructure connecting.