Wong MNC Center

Regulations promulgated pursuant to China’s 2017 cybersecurity law will give Chinese police expansive authority to examine corporate information systems. China’s Ministry of Commerce (MOFCOM) and other bodies reported that Chinese outward foreign direct investment (FDI) flows experienced a drop in 2017 for the first time since 2002. Apple and Amazon vehemently reject Bloomberg story that their servers were penetrated by hardware corrupted by Chinese intelligence operatives. Plans for Japan’s SoftBank to build the world’s largest solar farm in Saudi Arabia may be burning up, though the firm insists the project is moving forward. Japan’s Mitsubishi partners with various state-owned enterprises (SOEs) on USD $31 billion LNG project in western Canada. South Korea’s Hyundai Development Company (HDC), in a joint venture (JV) with India’s Hindustan Construction Company Ltd (HCC), wins $300 million road project in India. Spurred by South Korea government policies and Indonesia incentives as well as the Association of Southeast Asian Nations (ASEAN) Free Trade Agreement, Hyundai Motor Group plans major car manufacturing plant in Indonesia.

On September 21, 2018, the Mr. & Mr. S.H. Wong Center for the Study of Multinational Corporation (Wong MNC Center) and the University of Nottingham, Ningbo jointly held a workshop on China’s Maritime Silk Road Initiative (MSRSI), Africa, and the Middle East.

China takes a softer stance on dominating the Artificial Intelligence (AI) sector at the World AI Conference in Shanghai. Summer Davos observers and participants stress the progress of the [China] Greater Bay Area in attracting foreign direct investment (FDI). Alibaba’s Jack Ma retreats from promise to create 1 million jobs in United States (US). Germany looks to pursue more measures, including a billion euro investment fund, to control Chinese FDI flows into the country. Japanese chemical firms boost FDI in Southeast Asia to ramp up production to fill the space flowing from reduced production of Chinese firms that cannot meet China’s environmental requirements. Building upon the foundation created by Japanese and Indian leaders, Japanese companies and investors are pouring money into India to support IT startups. South and North Korea agreed to take steps to reconnect infrastructure links and restart discontinued inter-Korean projects. South Korea’s Hyundai Engineering signed Memoranda of Understanding with Indonesian officials regarding the expansion of its industrial facilities and the construction of a hydroelectric power plant there.

Reacting to Apple’s statement that new tariffs on Chinese goods would affect many of its products, United States (US) President called on it to manufacture more goods in the US. 16 members of US House of Representatives send letter to Google to inquire about its plans to comply with China’s search and surveillance policies. To improve its market prospects, Japan’s Toyota will share and license hybrid technology with China’s Geely. Japan’s Mitsubishi and a subsidiary of Singapore’s state-backed investment company Temasek have formed a joint venture for massive urban development projects. In Seoul, Indonesian President Joko Widodo calls for Korean companies to partner with Indonesia in the area of advanced technology. Korea’s state-owned Korea. Korea’s state-run company Korea Gas Corp. transforms into global player in energy exploration, development, and infrastructure.