Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.

Southern Sun Earnings Surge

Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.

China’s Property Market Recovery

In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.

Broader Economic Implications

The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.

Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24

Vietnam’s diplomatic strategy seeks a balance of cooperation and struggle with China, focusing on strengthening ties while resisting encroachments in the South China Sea through military enhancements and regional partnerships.

Vietnam’s Diplomatic Strategy

Vietnam’s diplomatic approach seeks to maintain a delicate balance between cooperation and struggle with China. While concerned about China’s growing influence, particularly in the South China Sea, Hanoi focuses on strengthening its economic and political ties. This effort involves military enhancements, fostering relationships with regional powers, and engaging in frequent political dialogues. By skillfully navigating relations with major powers, Vietnam aims to protect its sovereignty and foster stability amidst evolving geopolitical dynamics.

Recent Developments and Implications

Hanoi’s diplomatic maneuvering has drawn attention, particularly regarding key visits like Vietnamese Communist Party General Secretary To Lam’s August 2024 trip to China. Although there are apprehensions about a potential shift in Vietnam’s alignment due to To Lam’s background in public security and his anti-corruption initiatives, it is premature to predict any significant changes in policy. Vietnam’s leaders must continuously seek a balance between peaceful coexistence with China and safeguarding national sovereignty.

Economic Interdependence and Military Modernization

Vietnam’s strategy involves fostering economic interdependence with China while simultaneously resisting encroachments. This paradigm of “cooperation and struggle” enables Hanoi to cultivate beneficial ties in economic, political, and security domains. By leveraging its geographical advantage and connections, Vietnam enhances its economic ties while countering threats through military modernization and cooperation with regional partners. This nuanced approach allows Vietnam to welcome trade, particularly amidst shifting dynamics from the US-China trade war, ensuring continued foreign direct investment and growth in key sectors.

Source : Cooperation and struggle define Vietnam’s approach to China

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Black Myth: Wukong, a Chinese video game, could reshape global tech dominance by driving semiconductor innovation while showcasing China’s cultural influence and challenging Western technological supremacy.

It may sound far-fetched, but the future of global technology supremacy could hinge on a video game.

Black Myth: Wukong, China’s latest blockbuster, isn’t just breaking gaming records – it could be driving a critical shift in the global balance of technological power. What seems like just another action-packed video game is, in reality, a vital component in Beijing’s larger strategy to challenge Western dominance in the tech industry.

The game, released by Chinese company Game Science on Aug. 19, 2024, is based on the legendary 16th century Chinese novel “Journey to the West.” The novel tells the story of a monk, Xuanzang, who journeys to India in search of Buddhist scrolls. The monkey Sun Wukong protects the monk by confronting and battling various demons and spirits.

Black Myth: Wukong has captivated millions with its stunning visuals and storytelling. It quickly became a cultural sensation in China and abroad, attracting widespread attention and praise for its graphic fidelity and technological sophistication.

As global affairs scholars, we see that the game’s success goes beyond the number of downloads or accolades. It’s what this success is driving within China’s technology sector that has far-reaching consequences.

Video games and global power

For years, China has been playing catch-up in the tech race, particularly in the production of semiconductors – the tiny microchips that power everything from smartphones to advanced artificial intelligence systems. The United States has maintained its dominance in this field by limiting China’s access to the most advanced chip-making technology.

As of 2024, China has shifted away from its aggressive “wolf warrior” diplomacy to a more cooperative approach in order to rebuild international ties. The government has also issued mandates for companies like Huawei to develop domestic chips. However, China’s success in boosting semiconductor development and production using these approaches has been limited.

Historically, video games have played a significant role in driving technological innovation in the semiconductor industry. From the early days of the 8-bit Nintendo Entertainment System to the modern PlayStation 5, gaming has always pushed chipmakers to develop faster, more efficient processors and graphics processing units, or GPUs. The intense graphical requirements of modern games – high resolutions, faster frame rates and real-time rendering – demand the most advanced semiconductor technology. The development of advanced GPUs by companies like NVIDIA was directly influenced by the gaming industry’s needs.

Gamers require advanced processors to enjoy Black Myth: Wukong’s high-end visual and gameplay experience. Built using the state-of-the-art Unreal Engine 5 video game development tool, the game is a visual spectacle featuring lifelike graphics, seamless open-world environments and complex combat systems. The game is available for PlayStation 5 and PCs, and Game Science plans to release an Xbox version.

Black Myth: Wukong features rich visuals and intricate gameplay.
Courtesy of Sony Interactive Entertainment LLC

As Black Myth: Wukong sweeps across gaming platforms, it not only puts pressure on China’s semiconductor makers to build more and better chips, but it also reveals the vast market potential for high-performance hardware, especially for gaming PCs equipped with powerful GPUs. The game’s success showcases just how big the demand is.

Market analysts expect the Chinese video game industry to reach revenues of US$66.13 billion in 2024, compared with $78.01 billion in the U.S. Analysts predict the game will have annual sales of 30 million to 40 million copies in 2024.

China’s gaming industry has surged into a global powerhouse, yet it remains dependent on foreign-made chips. Coupled with the West’s restrictions on chip exports, Wukong has become a key catalyst for China’s semiconductor development, and domestic companies now face growing pressure to innovate.

This pressure aligns with Beijing’s broader technological ambitions. The government’s “Made in China 2025” plan calls for technological self-reliance, particularly in sectors like semiconductors, where China lags behind. And advanced GPUs haven’t been confined to the entertainment industry. They have become integral to advances in AI, including deep learning and autonomous systems.

Flexing China’s cultural muscle

While it might seem strange to link video games with geopolitics, Black Myth: Wukong is more than just entertainment. It’s a tool in China’s soft power arsenal. Soft power is nations influencing each other through cultural exports. For decades, the West, particularly the U.S., dominated global culture through Hollywood, music and video games.

Now, China is flexing its cultural muscle. The success of Black Myth: Wukong abroad, where it has been hailed as a game-changing title, is part of Beijing’s strategy to export its culture and technological prowess. Millions of gamers around the world are now being exposed to Chinese mythology, art and storytelling through a highly sophisticated digital medium.

‘China Stay Winning’ American YouTubers react enthusiastically to Black Myth: Wukong. (Audio NSFW)

But Black Myth: Wukong isn’t just a cultural triumph for China; it’s a warning shot. The country is taking advantage of its booming gaming industry to drive advances in a field that will define the future of technology. This game not only exports Chinese culture but also strengthens its tech base by accelerating the demand for domestic semiconductors.

While Black Myth: Wukong entertains millions, it also shows China’s growing influence in the digital realm. In the future, we might not look back at Black Myth: Wukong as just a successful video game, but as a catalyst that helped China close the technological gap with the West. Beijing is playing a long game, and video games like Black Myth: Wukong are turning out to be effective weapons.

This article is republished from The Conversation under a Creative Commons license. Read the original article.