A prominent figure in the global shipping industry has pointed out that China's foreign trade flows will persist despite geopolitical challenges.
Speaking in an interview with China Global Television Network (CGTN) at the World Economic Forum in Davos on Monday, Chavalit Frederick Tsao, chairman of Singapore-based Tsao Pao Chee Group (TPC), highlighted the impact of economic forces, geopolitical challenges, and tariffs on China's trade strategy, emphasizing the need for businesses to adapt and diversify in response to a rapidly restructuring global economy.
The TPC is a fourth-generation family business founded in China in the late 1800s.
"If you look at China's strategy, it's very well laid out -- where they are going, how do they look at the redistribution, how do they look at the whole planned rural-urban relationship, international relationship. It's a very well-thought through process and policies. Of course the reality is you have to evolve it and dance with the situation. As I said, you need to flow in, negotiate barriers and trade is one of the elements in that big policy. And everybody know trade is good for economics, how we trade will be influenced by geopolitics right now. But you cannot stop the water from flowing. It just flows through the obstacles," said Tsao, who was also former head of The International Association of Dry Cargo Shipowners (INTERCARGO).
When asked to comment on the potential for increased tariffs under the administration of U.S. President Donald Trump, the buisnessman also noted the act of imposing tariffs will not stop trade, but consumers will eventually pay the price.
"There is a lot of fear, but the last time tariff was snapped on China, trade increases rather than reduces. Now the cost of trade might be different, but eventually who pays? Consumers pay. So [we] cannot stop trade. It's the cost of trade, because barriers create resistance. It's not efficient, so the end user pays," Tsao said.
China's foreign trade will persist despite geopolitical challenges: shipping tycoon
The Chinese animated blockbuster Ne Zha 2 began preview screenings in London on Friday ahead of its official release in the country and Ireland on March 21, attracting excited crowds to watch the film in advance.
The film made its debut in the UK at London's BFI IMAX, home to the country's largest IMAX screen and is scheduled to screen in over 250 cinemas of 100 cities across the UK and Ireland during the first week of release.
The film's Europe-wide distributor, Trinity CineAsia, announced that it has acquired theatrical distribution rights for Ne Zha 2 across 37 countries in Europe, including the UK, Ireland, and Germany. This scale of film release is exceptionally rare in the history of overseas distribution for Chinese-language films, reflecting the strong confidence of local cinemas in the movie's market potential.
"The fact that it is here and, you know, that we are getting a lot more influx of films from all across Asia from China, South Korea, Japan, South Asia as well. I think it's really good to kind of like widen the palate, because we all want to escape our little cinematic bubble and see what the rest of the world has to offer," said Jack Martin, a film reviewer, in an interview with the China Central Television (CCTV).
"Ne Zha 2" has shattered global box office records to become the No. 1 box office animated film of all times and also the first non-Hollywood production to crack the global all-time top 10 box office chart.
Rooted in 16th-century Chinese mythology with a bold reinterpretation, the movie has attracted attention of global audiences with its stunning visuals, well-crafted storytelling, and deep cultural heritage.
"And I think all these elements show that Ne Zha 2 is both a film that's modern, but also has its roots in something very deep and very ancient," said Cedric Behrel, managing director of Trinity CineAsia, in an interview with the CCTV.
Many audiences attending the preview screening in London have shared their thoughts about the movie in interviews with the CCTV.
"It was moving like heartwarming. Yes, I'll go home now and talk to it to all my friends," said a moviegoer.
"I thought that the humor of the film was really great, but it balances so perfectly with some of the more dramatic and heartfelt moments of it. And yeah, I really, really enjoyed it. And the language barrier was not a problem at all," said another moviegoer.
"We might not speak the same language, but at its heart is a very universal theme of friendship and just trying to do right in the world. And I think that a lot of people really resonate with that. I can see why it's done so well in China already," said Jack Martin.
James Smith, an social media influencer, shared his views about the movie in Chinese language during the interview. He thought the movie can serve as a bridge for foreigners to understand Chinese culture.
"I watched Ne Zha, the 2019 box office hit, in China. When I heard that its sequel was set to debut in the UK today, I rushed to the cinema to see it. It's definitely a great movie, filled with humor, touching moments, and encouragement. My friends often ask me how they can better understand China, because they think I know something about the country. I would say that you can watch the Ne Zha 2, as I believe it's a great film and through which you can learn something about Chinese culture," he said.
Ne Zha 2 begins preview screenings in London, captivating local audiences
