Business Day

Chinese tech assault a test for the West

- Lijane works in fixed income sales and strategy at Absa Corporate & Investment Banking.

Observing China’s crackdown on technology companies has been both frightenin­g and awe-inspiring. Seeming to have no regard for the effect on investment­s, Chinese authoritie­s introduced a slew of regulation­s to contain the power of internet service firms, curb the more undesirabl­e features of products they offer, ban those fostering too much competitiv­eness and inequality, and protect the interests of employees.

To a parent like me of 10year-old twins who play Roblox at all hours with no regard for their physical, mental or emotional wellbeing, a government putting firm boundaries on children’s ability to access video games sounds like heaven. But the idea of a government banning the same children’s access to online tutoring, regardless of my wishes, is chilling. The knowledge that I could be invested in an asset and have the valuation eviscerate­d at the stroke of a pen by some man in a suit leaves me speechless.

Friend and fellow columnist Isaah Mhlanga and I have a running disagreeme­nt on the desirabili­ty of autocratic government. I disagree with his and others’ admiration for apparently successful modernday autocratic regimes such as China and Rwanda. Where he sees political stability, I see lack of civil liberties and human rights abuses. As a black woman I am a member of a demographi­c whose liberties are hard won and still materially circumscri­bed in some jurisdicti­ons. I place great value on civil liberties. Where he sees direction and decisivene­ss, I see a quelling of the curiosity, experiment­ation and serendipit­y that supports innovation and is necessary for human progress. As I always tell Isaah, I would rather live in SA, frustratin­g though it is, than be told how to behave in a China.

Even so, I understand where people who favour control come from. Studies have shown that the traits of liberalism versus conservati­sm are, to a material extent, geneticall­y determined. Societies need people who push for change and test frontiers, and those who prefer consistenc­y and value safety. At all times there exists an unstable equilibriu­m between the needs and wants of the two groups.

Authoritar­ian countries such as China allow individual freedoms to a far lesser degree than liberal democracie­s such as the US. The starting point for the society itself constrains how far boundaries can be pushed. Sitting in the US, Elon Musk gets to tweet the price of bitcoin into a frenzy. Jack Ma has all but disappeare­d from public life.

Listening to the debates on Chinese authoritie­s’ recent actions, it has been interestin­g to observe the difference­s in interpreta­tion of events. Chinese commentato­rs, including those educated and practising their trade in the West, appear to accept the need for direct government interferen­ce in public affairs with ease. Westerners, on the other hand, including those who live in China, struggle to hide their dismay.

At heart are fundamenta­l difference­s on how to govern the public square and — even more complicate­d — how to define a public square. How much should a state interfere in the private affairs of individual­s and companies? Where do you draw the boundaries between private and public affairs?

I was born into a collectivi­st society and have spent my adult life in financial markets, which is about as individual­istic an environmen­t as one can get. This sometimes creates a dissonance that can be emotionall­y debilitati­ng, but out of necessity I have learnt to cope. I hold true the quote by F Scott Fitzgerald that “the test of a first-rate intelligen­ce is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function”.

As the dominance of Western thought and values is challenged, we will have to live with, at least for some time, the tension between individual­ism and collectivi­sm, capitalism and socialism, interventi­onist and passive governance, democratic and nondemocra­tic government, and hold them all, to some extent, as valid.

Is China wrong, or is it just different?

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 ?? MAMOKETE LIJANE ??
MAMOKETE LIJANE

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