Building blocs Jan 19, 2018 (WiC 394)
“What we are looking for now with Tencent is just to find more creative ways of reaching children and creating bespoke content with Tencent, in this case, video games”
Jacob Kragh, head of Lego in China, tells Reuters about a new partnership between the Danish toymaker and the Chinese internet giant. China’s toys and games market is worth $31 billion, of which Lego has a 3% share. In late 2016 it opened a giant factory in Jiaxing to serve the Asian market.
Two-way boulevard Jan 12, 2018 (WiC 393)
“The ancient Silk Roads were never only Chinese”
President Emmanuel Macron (see also Photo of the Week on Back Page) elaborates on his counterpart Xi Jinping’s Belt and Road Initiative during a visit to China this week. “By definition, these roads can only be shared. If they are roads, they cannot be one-way,” he said, adding Europe was “back” and needed to work closely with China on the project. “These roads cannot be those of a new hegemony, which would transform those that they cross into vassals.”
An artificial lead Jan 5, 2018 (WiC 392)
“By 2020, they will have caught up. By 2025, they will be better than us. By 2030 they will dominate the industries of AI”
Eric Schmidt – who will step down as executive chairman of Alphabet this month – predicts China will overtake the US in artificial intelligence in around seven to eight years. Schmidt chairs America’s Defence Innovation Advisory Board.
Brewing up a storm Dec 8, 2017 (WiC 391)
“One thing we didn’t count on is how busy the stores would be in the afternoon and evening, which is different from the US where we are busiest in the morning”
Howard Schultz, executive chairman of Starbucks, told the Financial Times this week that China could become its biggest market within a decade. Schultz says that Starbucks is opening a new store every 15 hours in China, and that the company would soon reach an “inflection point” that would make it less dependent on its business in the US.