Speaking of What Not To Do – this is for the “Employee Relations” file.
There is a video doing the rounds of a group of female employee’s of a Tengzhou (Shandong) beauty company who were forced to crawl on all fours down the city street while being led by a male Team Leader holding the Company flag. Apparently the employees had failed to reach their annual sales targets.
It’s ok though – local police issued the Leader with a “verbal warning” and the Company was required to undertake “self reflection”.
We all know that today is the start of the Spring Festival / Chinese New Year but it also marks the period of the greatest human migration the world has ever seen.
With the rapid urbanisation of China you have a situation where an enormous number of 1st and 2nd generation urban dwellers still have parents, grandparents, brothers and sisters back in the rural areas. And what happens every Chinese New Year? They all head home to join their families!
This year the estimate is about 385 million people will make the trip, at pretty much the same time, out of the major cities – around 12% up on last year. Total passenger journeys for Chunyun (the Spring Festival travel season) are expected to be around 3 Billion (with a ‘B’!!).
2019 is the Year of the Pig.
Pig’s aren’t necessarily considered to be an overly smart animal – basically they like sleeping and eating and becoming fat. On the positive side, pigs behave themselves, have no plan to harm others, and can bring wealth to people.
People with Chinese zodiac Pig sign are considerate, responsible, independent and optimistic. They always show generousness and mercy to endure other people’s mistakes, which help them gain harmonious interpersonal relationships.
What about if you’re one of the other Chinese zodiac signs? What does the next year bring? Well:
Vietnam is currently the fastest growing economy in Asia, recording 7.5% growth in the most recent quarter, followed by the Philippines at 6.9% and outpacing China’s 6.8%.
The Straits Times gives a great overview of some of the booming economies in the region.
Tencent, the Chinese social network company that owns WeChat, has become the first Asian firm to pass a market value of $500Bn which makes it more valuable than FaceBook.
I’ve said it before but, if you’re doing business in China (and increasingly in the rest of Asia) and you’re not using WeChat, you may as well not bother.
The 2017 Global Innovation Index has out for a few months now but I was looking at it again today and thought it worthwhile posting.
As has been the case for a number of years now, Singapore tops the regional rankings coming in at 7th place overall (down from 6th last year). Next comes South Korea (11th), Japan (14th), Hong Kong (16th) and PRChina (22nd) finishing up the ASEAN and Asian entries in the top 25.
The Index is prepared annually by the World Intellectual Property Organization (WIPO) and, this year, looked at 127 countries across 82 metrics such as education, infrastructure, financial systems, labor force, and others.
China has overtaking the US in the total number of ranked supercomputer systems in the top 500 by a margin of 202 to 143. It is the largest number of supercomputers China has ever claimed on the TOP500 ranking, with the US presence shrinking to its lowest level since the list’s inception 25 years ago.
Just six months ago, the US led with 169 systems, with China coming in at 160. Despite the reversal of fortunes, the 144 systems claimed by the US gives them a solid second place finish, with Japan in third place with 35, followed by Germany with 20, France with 18, and the UK with 15.
China has also overtaken the US in aggregate performance as well and claims 35.4 percent of the TOP500 flops, with the US in second place with 29.6 percent.