东谈西论

中国三大金融监管机构上星期二突然联合召开记者会，公布了一系列救市措施，包括降准、降息、下调房地产贷款利率、将房贷首付比率下降至15%。这等于向市场释放1万亿元人民币的流动性。

中国央行行长潘功胜在记者会上还宣布，将推出两项政策工具来释放流动性并提振股市。这两项政策工具共计会对市场释放8000亿人民币，而且还只是首期。中国股市、香港股市应声大涨，并带动亚太和欧洲股市上扬。

到了星期四，中共中央政治局再开会部署经济工作，要求保证必要的财政支出、实施有力度的降息、促进房地产市场止跌回稳。国际投资者为之振奋，著名对冲基金经理 David Tepper公开表示他已全面加仓。

在冠病疫情结束后，中国经济并没有出现预期的报复性反弹，反而面临越来越大的挑战。尽管经济学家一直在呼吁中国政府采取更为有力的救市措施，但当局的行动被形容为“挤牙膏”。这一次，中国政府终于启动了大规模救市的扳机吗？这是否算是大水漫灌？

这期的早报播客《东谈西论》，听主持人韩咏红和新加坡华侨银行亚洲地区研究与策略主管谢栋铭解析中国推出的新一轮政策将会对中国经济产生什么影响？

延伸阅读：

• 杨丹旭：中国央行放大招能否力挽狂澜？
• 陈婧：楼市终于要止跌了？

China has surprised markets with a series of aggressive monetary easing measures aimed at reviving its flagging economy. 

The country's central bank announced a cut to the reserve requirement ratio for banks, injecting billions into the financial system.  Additionally, lending and mortgage interest rates will be lowered, and further stimulus measures are on the horizon. 

This comes after China's post-pandemic recovery fell short of expectations, prompting calls for more decisive government action. The announcements led to significant gains in China's stock market, which also positively impacted the Hong Kong, Asia-Pacific, and European markets. 

While some investors are expressing renewed confidence, the long-term impact of these measures remains to be seen. 

In this episode of Global Heartbeat podcast, join host Han Yong Hong and guest Tommy Xie, Head of Greater China Research & Strategy at OCBC Bank, as they analyse these developments and discuss whether China has finally pulled the trigger on a large-scale economic rescue plan.  

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

马来西亚一家具规模的跨国商业机构“全球兄弟服务与商业控股”（简称全球兄弟）9月爆出惊人丑闻。

截至9月下旬，警方从全球兄弟下辖的儿童福利院救出了大约600名少年儿童。这些少年儿童相信都是全球兄弟成员的子女。他们被强迫劳动、性侵害、虐待，也在精神上被洗脑与控制。

全球兄弟的资产约3亿2500万令吉（约9976万新元），业务遍布亚洲以及欧洲。它到底是一家怎么样的企业？是不是邪教？为什么能长期犯罪而不被揭发？过去二三十年里，马来西亚社会日益宗教化与保守化。全球兄弟爆出的这场丑闻，应该引起怎样的注意？

这期的早报播客《东谈西论》，听主持人韩咏红和《联合早报》吉隆坡特派员萧郡瑜及《联合早报》国际新闻组第二主任吴汉钧解析轰动马来西亚的全球兄弟性侵虐童案。

延伸阅读：

• 回教福利院数百儿童证实被虐 马国元首促警彻查
• 马回教局将研究“全球兄弟”是否为异端

In September, Malaysia's Global Ikhwan Services and Business (GISB) Holdings was thrust into the spotlight following a shocking scandal involving the abuse of children in their welfare homes. Malaysian police have rescued hundreds of children who were subjected to forced labor, sexual abuse, and physical mistreatment. 

Established in 2010, GISB is a Muslim conglomerate that has assets totalling around RM325 million (S$99.8 million) with operations spanning Asia and Europe. The company has been linked to the now-defunct Malaysia-based Al-Arqam religious sect, which was banned by the Malaysian government in 1994. The scandal has exposed systemic failures in child welfare oversight and highlighted the impact of societal norms that allowed such abuses to go unchecked for years. 

In this episode of Global Heartbeat, host Han Yonghong is joined by Lianhe Zaobao’s Second Foreign Editor, Ng Hon Kuan and Kuala Lumpur correspondent Seoow Juin Yee. They delve into the details of the scandal, and discuss its broader implications in Malaysia.

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

世界四大会计事务所之一、总部设在英国的普华永道（PricewaterhouseCoopers, PwC），因替中国房地产巨头恒大集团出具虚假审计报告，被中国财政部罚款人民币4.41亿元（8070万新元），并处以停业六个月的处罚，同时撤销了普华永道广州分所的执业资格。

普华永道因对恒大集团的虚假账目“睁一只眼、闭一只眼” 而陷入危机。而在香港上市的恒大集团今年1月已被下令清盘，留下超过3000亿美元的债务、上百万套烂尾楼，以及数十亿美元的财富管理产品违约。

恒大账目造假，普华永道作为审计机构应承担多少责任？这背后是否存在利益输送？

这期的早报播客《东谈西论》，听主持人韩咏红和新加坡管理大学李光前商学院副教授傅方剑解析这个事件暴露了上市公司与会计行业之间哪些深层次问题？

延伸阅读：

• 中国财政部点名瑞幸恒大：财务造假成本过低 新会计法大幅提高处罚力度
• 普华永道被香港监管机构调查

Chinese regulators hit the auditing unit of PricewaterhouseCoopers (PwC) in mainland China with a six-month business suspension and a record fine of 441 million yuan (S$81 million) over the firm’s audit of troubled property developer China Evergrande Group, which was ordered to liquidate earlier this year.

The Big Four accounting firm is accused of failing to uncover accounting irregularities at the real estate giant, raising serious questions about auditing practices in China.

In this episode of Global Heartbeat podcast, join host Han Yong Hong and Associate Professor of Finance from the Singapore Management University’s Lee Kong Chian School of Business, Fu Fangjian, as they delve into the broader implications of this incident for the auditing industry, financial accountability, and corporate governance in China. 

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

中国国家男子足球队上周四在客场对阵日本，以0比7惨败。这场比赛不仅创下了国足在国际正式比赛中的最大比分差距，还刷新了世界杯预选赛的历史分差纪录。虽然过去26年里，中国队从未战胜过日本队，但这次的惨败尤其让球迷倍感震惊。

中国拥有14亿人口，还有庞大的足球迷群体，但男子足球的表现为何屡屡让人失望？网络上的嘲讽与调侃层出不穷。赢不了球的中国男足，难道真的成了大众的笑柄？

更有意思的是，中央电视台并未转播这场比赛。这背后究竟是单纯的经济原因、认为版权费太高，还是另有其他政治考量？

这期的早报播客《东谈西论》，听主持人韩咏红与《联合早报》驻北京的记者于泽远详细解析这场比赛背后的舆论风波。

延伸阅读：

• 于泽远：中国国足输出了喜感
• 张田勘：0比7是一个苦涩的参照数字

Chinese football fans are reeling after their national team suffered a record-breaking 7-0 defeat against arch-rivals Japan in a crucial World Cup qualifier. The match was China’s worst defeat in the team’s history as well as the biggest goal difference in World Cup qualifying history. It has sparked outrage and despair across the nation. This crushing defeat goes beyond a sporting disappointment; it touches upon national pride and reignites long-standing frustrations regarding China's struggle to establish itself as a football powerhouse. What does this loss mean for the future of Chinese football? 

In this episode of Global Heartbeat, host Han Yonghong and Lianhe Zaobao’s China News Copy Editor Yu Zeyuan examine the state of Chinese men's football.

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

8月31日，台湾政坛第三势力领袖、民众党主席柯文哲被戴上手铐，并被指涉嫌收贿图利罪，震惊四方。经过两天的讯问后，柯文哲被台北市地方法院裁定无须支付保证金就能直接回家。

柯文哲形容自己 “在这两天当中，可以说是极尽压迫和凌虐”。

法院认为京华城获得容积奖励确实违法，但没有证据证明柯文哲“犯罪嫌疑重大”或者明知而违法，因此裁定他无保请回。

柯文哲平安落地了吗？台北市检察署认定柯文哲涉嫌收贿和图利，这次是否会被打脸？民众党是否成功逃过一劫？这期的早报播客《东谈西论》，听主持人韩咏红和台湾文化大学广告系教授钮则勋深入解析柯文哲的政治危机。

延伸阅读：

• 韩咏红：柯文哲案对两岸关系的影响
• 【视频】柯文哲无保请回 法院：检方无法明确举证犯罪嫌疑重大

After a marathon interrogation in a graft probe, Taiwan People's Party (TPP) leader Ko Wen-je, was released without bail, vehemently denying any wrongdoing in the case, which involves approvals given for the Jinghua City project during his time as Taipei mayor from 2014 to 2022. Upon his release, Ko addressed supporters, claiming he was subjected to extreme oppression and bullying. While the court determined that the changes to the Jinghua City project were unlawful, prosecutors failed to present sufficient evidence to prove Ko's direct involvement in illegal activities.

In this episode of Global Heartbeat podcast, host Han Yong Hong speaks with Niu Tse-hsun, professor and chair of the Chinese Culture University's advertising department to explore whether TPP has dodged a bullet or if a larger storm is brewing. 

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

美国民主党一连四天的全国代表大会在当地时间8月22日落下帷幕。美国副总统哈里斯在五万名现场观众的欢呼声中，正式接受民主党提名，竞选美国总统。

在7月21日美国总统拜登宣布退选之前，哈里斯原本被认为是表现不佳的副总统。但她却在短短一个月内声势大涨，不但筹得创纪录的5亿4000万美元（约7亿新元）资金，她的民调支持率也迅速追平特朗普，重新点燃了民主党胜选的希望。

如果当选，哈里斯将成为美国历史上首位女性总统和首位有亚裔血统的总统。她的选举路上将会面临哪些挑战？她有机会打败特朗普吗？她是否有能力治国？

这期的早报播客《东谈西论》，听主持人韩咏红和上海东亚研究所副所长包承柯解析哈里斯在竞选美国总统路上可能面临的挑战。

延伸阅读：

• 韩咏红：与谣言共舞的时代
• 伟达：美国大选走向与政治设计

The recent Democratic National Convention marked a significant milestone for Vice President Kamala Harris as she accepted the nomination to run for President of the United States. This historic moment was met with enthusiasm, setting the stage for a potentially transformative election. 

 

Harris, once perceived as an underperforming Vice President, has seen a remarkable turnaround in just one month. She has raised an unprecedented US$540 million (S$702.2 million) in campaign funds, signalling a strong wave of support and rekindling the Democratic Party's hopes for victory.

If elected, Harris would break multiple barriers as the first female President and the first President of Asian descent. Her candidacy brings forth numerous questions about the challenges she will face and the policies she intends to implement. The path to the presidency is fraught with obstacles, and her ability to govern effectively will be under intense scrutiny.

In this episode of Global Heartbeat podcast, host Han Yong Hong invites Bao Chengke, assistant director at the Institute for East Asian Studies in Shanghai to examine Harris‘ challenges ahead, and unpack what a Harris presidency could mean for the United States and the world. 

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

台湾民众党主席、前台北市长柯文哲近期陷入从政以来最大的危机。

此前，柯文哲因台北市长任内涉及的京华城案和北士科案被列为被告。如今，他在去年竞选总统时的竞选总部又爆出一系列假账丑闻，其中包括漏报 2,000万新台币的政治献金以及96万元新台币的素食便当费用。

柯文哲的竞选总部大楼内有一家名为“木可”的公关公司，董事长是柯文哲竞选总部财务长、他的高中同学李文宗的妹妹。这引发外界质疑，木可公司是否充当了一个秘密的小金库。

政治分析人士认为，柯文哲不仅面临牢狱之灾，甚至民众党也有可能因此走向灭亡。柯文哲为何会陷入如此困境？他真的会被判刑吗？白色力量的危机又将如何影响台湾整体的政治版图？

这期的早报播客《东谈西论》，听主持人韩咏红和台湾政治的文化大学广告系教授钮则勋深入解析柯文哲的政治危机。

延伸阅读：

• 民众党称政治献金假账是因会计师漏报
• 新闻人间：四面楚歌柯文哲

Ko Wen-je, chairman of the Taiwan People's Party (TPP), is facing the biggest political crisis of his career, grappling with serious allegations of corruption and financial impropriety. These accusations stem from his time as Mayor of Taipei and his recent unsuccessful presidential bid, casting a shadow over his political future and potentially impacting Taiwan’s "white force" (also known as “third force”) movement - a political force seeking an alternative to the entrenched dominance of the two main parties.  

In this episode of Global Heartbeat podcast, host Han Yong Hong invites Niu Tse-hsun, professor and chair of the Chinese Culture University's advertising department to dissect this unfolding scandal as well as what it means for Ko and the future of the “white force”.

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

经历了一番纷纷扰扰，2024年巴黎奥运在当地时间星期天落下帷幕。

全球运动员齐聚法国，一同经历了16天的拼搏、激情、欢笑与泪水。最终，金牌榜上出现了一个史无前例的成绩——中国和美国各自摘下40枚金牌，并列金牌榜第一名。

提出修昔底德陷阱的美国哈佛大学教授艾莉森上星期撰文指出，奥运会反映了中国作为美国最重要的地缘政治对手的几乎全方位的崛起。

巴黎奥运是当前全球地缘政治的折射吗？中美在巴黎奥运期间争议不休的禁药问题到底谁是谁非？这些争议会不会延续到2028年的洛杉矶奥运会？

这期的早报播客《东谈西论》，听主持人韩咏红和《联合早报》驻北京的记者于泽远详细解析。

延伸阅读：

• 【奥运会】中美金牌数持平 中国多点开花美国游泳优势削弱
• 杨丹旭：政治阴云笼罩巴黎奥运

The 2024 Paris Olympics concluded amid a whirlwind of excitement and controversy. Athletes worldwide gathered in France for 16 days of intense competition. 

In an unprecedented outcome, both China and the United States tied for the most gold medals, each winning 40. However, the United States led the overall medal count with 126, far ahead of China’s 91.

Harvard University’s Professor Graham Allison, who is the author of “Destined for War: Can America and China Escape Thucydides’s Trap”, noted that China's rise to become the leading rival of the United States in the Olympics mirrors its broader geopolitical ascent. 

In this episode of Global Heartbeat, host Han Yong Hong and Lianhe Zaobao’s China News Copy Editor Yu Zeyuan explore the implications of the Paris Olympics on global geopolitics, the doping disputes, and what to expect as the world turns its attention to the next Olympic Games in Los Angeles.

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

中国今年第二季度的经济增长只有4.7%，不但低于预期，也是五个季度以来的最低水平。

为了稳住经济，中共政治局7月30日召开会议，部署下半年经济工作要求、提振内需、培育壮大新兴产业和未来产业。会议上还出现了一个罕见要求，就是“强化行业自律，防止‘内卷式’恶性竞争”。

中国的企业现在有多“卷”？

这期的早报播客《东谈西论》，听主持人韩咏红和辽宁大学特聘研究员陈波深入解析什么是“内卷式”恶性竞争？政治局一纸命令真的能有效防止“内卷”？

延伸阅读：

• 陈婧：政治局会议也谈“防内卷”
• 中国出台20条促消费 分析：电商、游戏、教培重获重视

China’s economic growth slowed to a mere 4.7% in the second quarter of 2024, falling short of projections and marking the weakest performance in five consecutive quarters. To stabilise the economy,  the Chinese Communist Party’s Politburo convened on July 30 to formulate economic strategies for the second half of the year. The meeting underscored the importance of stimulating domestic demand and nurturing the expansion of emerging and future industries.

Interestingly, the meeting  also issued an uncommon directive, urging for greater industry self-discipline to curb what is termed as “involution-style” vicious competition.   

"Involution," in this context, describes a pattern of excessive, often unproductive competition that traps businesses in a cycle of diminishing returns. This can manifest as a culture of extreme work with minimal gains in productivity and innovation.

How prevalent is this issue among Chinese enterprises, and can a top-down directive from the Politburo effectively mitigate this behaviour?  

In this episode of Global Heartbeat podcast, host Han Yong Hong is joined by Chen Bo, a prominent researcher and Adjunct Professor of Economics at Liaoning University to analyse the effectiveness of the Politburo’s directive. 

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

See omnystudio.com/listener for privacy information.

中国与俄罗斯的四架战略轰炸机，7月25日在美国阿拉斯加附近的白令海进行联合空中战略巡航。这是中国轰炸机首次飞抵阿拉斯加附近。美国和加拿大紧急出动战斗机，对中俄轰炸机进行跟踪、监视和拦截。

美国国防部长奥斯汀隔天在五角大楼的新闻发布会上说，中俄战机并没有进入美国领空，最靠近时距离美国海岸大约200英里。他也说这四架轰炸机并没有对美国和加拿大构成威胁。

北京和莫斯科从2019年开始组织战略轰炸机联合巡逻，这次是第八次，也是第一次抵近阿拉斯加。在美国总统拜登宣布退选后，美国提前进入看守政府状态，中国是否利用这个时机采取激进的战略行动？

这期的早报播客《东谈西论》，听主持人韩咏红和联合早报驻北京的记者于泽远解析中俄战略轰炸机联合巡逻是要发出什么信号？

延伸阅读：

• 于泽远：中国轰炸机抵近阿拉斯加
• 王毅与俄外长会面 称中俄要坚定相互支持

Last Wednesday, four Chinese and Russian bombers conducted a joint strategic air patrol over the Bering Sea, near Alaska. While Russian bombers frequently operate in this region, it was the first time Chinese bombers entered the Alaskan Air Defense Identification Zone. The bombers were promptly tracked and intercepted by US and Canadian fighter jets.

The following day at a Pentagon press conference, US Defense Secretary Lloyd Austin confirmed that the aircraft did not enter US airspace, maintaining a distance of about 200 miles (320 kilometres) from the US coast. He emphasised that these flights were not perceived as a threat.

Since 2019, Beijing and Moscow have been conducting joint strategic air patrols, and this was their eighth such mission. The significance of these joint drills raises several questions: What message are China and Russia attempting to convey? 

With US President Biden's recent announcement that he will not seek re-election, is China capitalising on the perceived vulnerability of the US administration and seizing this opportunity to engage in more aggressive strategic manoeuvres?

Tune in to this episode of Global Heartbeat podcast as host Han Yong Hong and Lianhe Zaobao’s China News Copy Editor Yu Zeyuan delve into the implications of this incident and explore the broader geopolitical context.

Hosted by Lianhe Zaobao’s Associate Editor, Han Yong Hong, Global Heartbeat is a Mandarin weekly news and current affairs podcast that is updated every Tuesday, 7.00 PM SGT. It is available on zaobao.sg, Apple Podcast, Spotify and other podcast platforms.

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