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Is The Future Still Clear for Chinese Entrepreneurial Capitalism?

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For years, Chinese entrepreneurial capitalism has been a powerful economic force, particularly in the technology sector. However, China’s massive tech crackdown has left many wondering what the future holds for the country. 

Due to China’s regulatory crackdown and the impending delisting of Chinese firms from the American stock exchange, Chinese tech stocks have fallen precipitously over the past year. The Hang Seng tech index has plummeted by over 40% since last year. In the same time frame, the price of Alibaba’s shares listed in Hong Kong and the United States fell by approximately 49%.

China’s recent tech crackdown

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The Chinese government claims that it is cracking down on “irrational exuberance” and a “blind pursuit of money,” but many are skeptical of this claim, especially considering that China’s government has long been known for its heavy hand in business. 

In November 2020, the stock market launch of Ant Group, Alibaba’s finance arm, was delayed. It marked the beginning of government control over major internet enterprises. The Xi government looked sternly at the company, which was growing its influence in financial markets, as the financial authorities pointed out the “unsound corporate governance” of Ant as a problem.

The government fined Alibaba the biggest amount ever in April 2021 because its online commerce division had broken the competition law. The authorities also unveiled new legislation, cracking down on Tencent, Meituan, and Alibaba. The ride-hailing company DiDi began the process to delist from the New York Stock Exchange at the directive of the Chinese government.

At one point, some of the most well-known corporations in China lost billions of dollars in value as a result of China’s crackdown on big tech. Regulators are now suggesting they might lessen their sector oversight if the nation’s economic outlook grows bleaker.

A hint at relaxing control

CNBC reported on May 17, 2022 that Chinese Vice-Premier Liu He comforted tech CEOs by saying that the government-backed the sector’s growth and that public listings for technology businesses were further indications that the sector’s control was relaxing. Liu spoke at a gathering organized by China’s main political advisory body, the Chinese People’s Political Consultative Conference (CPPCC).

At the meeting, Liu stated that China would try to “properly manage” the market and government interaction. According to state broadcaster CCTV, the country will encourage tech companies seeking listings both domestically and overseas and work to support the healthy growth of the platform economy. Digital platforms, which are a major engine of economic activity and include those utilized for online commerce, are referred to as the platform economy. Concerns that the second-largest economy in the world would contract in the second quarter have grown due to Covid-19 limits and other measures to combat the pandemic, which have wreaked havoc on businesses and supply chains across various sectors.

What the future holds

However, tech analyst Linghao Bao cautions everyone not to get their hopes up. In an interview with CNBC’s Squawk Box Europe, Bao says he thinks the big tech firms will have a grace period, possibly for the next six months.

“However, this is really not a U-turn on the tech crackdown, the long-term outlook hasn’t changed yet,” Bao further added. He explained that since Beijing has already concluded that it is not a good idea to let big tech firms run wild because it creates unfair market competition. In such situations, wealth might be concentrated at the top, thus having a tendency to influence politics.

Bloomberg also pointed out that despite indications that the Communist Party’s attack on big tech is softening at the edges, interviews with more than a dozen industry leaders suggest the picture of Chinese entrepreneurial capitalism is still anything but good.

“China’s tech crackdown has happened. There is no comeback from that,” an anonymous entrepreneur said in an interview with Bloomberg. The source says the regulatory pressure on Chinese tech firms may have slowed down for now because of the sluggish economy. However, it’s unthinkable that regulators in China would loosen their grip on platform companies ever again.

According to Bloomberg, these insiders feel that there is still persistent paranoia and paralysis, as well as the disturbing knowledge that the exorbitant growth rates of the previous two decades will probably never return.

For many years, Chinese entrepreneurial capitalism has been a thriving force, and it has come to represent innovation and growth in many ways. In fact, Chinese companies now account for nearly half of all venture capital investments worldwide! Is there any hope for Chinese entrepreneurial capitalism? The future appears to be unclear at the moment.

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10 Environmental Organizations and Nonprofits To Save the World

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Making positive changes in our lifestyle is a powerful way to tackle important issues. Supporting charities is another great way to help the environment, make a difference, and build a better future. In this light, now is a great opportunity for government, business, and individuals to back environmental nonprofits. Here are ten groups working for a sustainable future that you can support. Get started by choosing an organization that really connects with your values.  

1. World Wildlife Fund for Nature

wwf website page

This Swiss-based NGO focuses on conserving nature and reducing human environmental impact. Acknowledged for its work with endangered species, WWF has expanded its mission to cater to specific animals and landscapes and to more significant issues that affect them. 

WWF partners with governments, businesses, and other environmental organizations to implement policies and programs protecting wildlife, nature, and the global climate. 

How to get involved: Sign up to take action on a particular campaign, adopt a species, participate in one of its partner-led conservation tips, or get updates on its causes. 

2. One Percent For the Planet

One Percent For the Planet is a global convergence of businesses, environmental organizations, and individuals working together for a healthy planet. Founder Yvon Chouinard (also Founder of Patagonia) started the organization to bring ” dollars and doers” together to create change. Member brands commit one percent of their profits to support environmental action. The organization ensures those donations go to trusted nonprofits involved in wildlife and nature conservation, reforestation, ocean cleanups, and other environmental efforts.

How to get involved: Become a business member and donate 1% of your annual sales directly to One Percent for the Planet’sPlanet’s environmental partners network.  

3. Fashion Revolution

Fashion Revolution is a worldwide movement bringing people and brands together towards creating a safer, cleaner, and fairer fashion industry. Founded after the Rana Plaza collapse in 2013, Fashion Revolution believes that collaboration across the value chain is the best way to transform the industry radically. It works with global coordinators to host events every year for an entire week in April to inspire consumers and brands to take a closer look at how and by whom their clothes were made.

How to get involved: Participate in the #WhoMadeMyClothes campaign all year round, especially during Fashion Revolution Week, which takes place annually in late April. 

4. Earthjustice

earthjustice website

Earthjustice attorneys support various significant environmental policies, such as the Endangered Species Act and the Clean Air Act. Earthjustice works with activists, national politicians, international policymakers, and individuals to protect and strengthen laws to benefit people and a healthy planet. 

How to get involved: Make a one-time or monthly donation and support essential campaigns.

5. Natural Resources Defense Council (NRDC)

The Natural Resources Defense Council aims to safeguard the Earth, including its people, plants, and animals. Founded in the 1970s by a team of law students and attorneys, NRDC is now a membership-based organization that works with lawyers, activists, scientists, businesses, and individuals to identify problems and formulate sustainable solutions. NRDC also ensures that everybody has the right to clean air, clean water, and healthy wild spaces.

How to get involved: Make a one-time or monthly donation, or add your voice to essential campaigns.   

6. Conservation International

conservation international webpage

Conservation International (CI) aims to protect the Earth to provide us with fresh water, adequate food, sustainable livelihood, and a stable climate. CI works with governments, business leaders, and individuals to implement doable solutions to climate change-related problems. In its 30 years of operation, the organization has successfully protected more than 601 hectares of land, marine, and coastal areas.

How to get involved: A $25 donation here will protect one acre of forest. Other ways to get involved with CI include:

  • Subscribing to receive conservation news and calls to action in your inbox.
  • Taking the “I Need Nature and Climate Action Pledge.”
  • Reading their tips for greener living.

7. Rainforest Alliance

The Rainforest Alliance is a nonprofit working to create a better future for people and the Planet. They offer a certification program for brands selling rainforest-friendly products. They also work alongside activists, businesses, small farmers, and forest communities to drive positive social, environmental, and economic change across forest landscapes.

How to get involved: Promote their frog seal while shopping for rainforest-dependent products such as tea, coffee, chocolate, and paper. Environment-conscious travelers can even opt for Rainforest Alliance-certified hotels and tours worldwide.

8. Greenpeace

greenpeace web page

Greenpeace is an international environmental organization whose mission is to create a green, peaceful, and ecologically diverse world. It relies on its membership of activists, students, educators, scientists, and environmentalists to investigate issues and solutions, lobby governments, and show up for actions against climate change. 

How to get involved: Join a local group of activists and follow along with Greenpeace’s journalism site, Unearthed. Donations are also welcome.

9. Lonely Whale Foundation

Lonely Whale Foundation works with businesses and entrepreneurs to develop environmental business models, gets involved in communities to educate the next generation better, and initiates global movements to address plastic pollution in our oceans.

How to get involved: Check out current campaigns to get involved in or donate.

10. 350.org

With members in over 180 countries, 350.org uses social media campaigns, grassroots organizations, and collective public action to support clean energy solutions. Its primary objectives are to reduce carbon footprint, help build a zero-carbon economy, and make governments accountable for limiting their emissions. 

How to get involved: Join a local group near you and support the initiatives they are working on. You can also start your own or donate if you are far from an existing group.  

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Up in the Air: The Dark Side of Balloon Releases

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While balloons bring momentary delight in celebrations and events, this tradition poses ecological challenges we often forget. They are harmful to wildlife, marine ecosystems, natural resources, and even toddlers. Balloons filled with helium look so pretty in the sky. However, they can’t stay afloat for so long. Each of these balloons pops and plunges to the earth, turning into trash. This is why balloon releases should be banned. 

How the Tradition of Balloon Releases Harms the Environment

Releasing balloons has become a customary practice in local events, including schools, weddings, and memorials, with origin tracing back to the 1940s. We acknowledge the emotional significance of traditions, like those we’ve seen in sporting events with fireworks, marching bands, and cool mascots. However, it is becoming more evident that haphazard balloon releases have several harmful implications for the environment. 

Indy 500
The Iconic Indianapolis 500 Balloon Launch in May 2019. Source: speedsport.com

Insert image: The Indy 500 balloon launch

Caption: The Iconic Indianapolis 500 Balloon Launch in May 2019. Source: speedsport.com

In May 2019, The Indianapolis Motor Speedway (IMS) continued its tradition of releasing balloons before the start of the Indianapolis 500. The IMS claims that its balloons are biodegradable. However, studies conducted to test these claims still raise a big question and pose a substantial environmental risk. 

Then, in 2022, the IMS management confirmed that the pre-race “Balloon Launch” has been paused indefinitely. 

Regardless of what the Indy 500 does, several people and organizations still do balloon releases. Here are some reasons they harm the environment and potential alternatives to flying balloons. 

Balloons are bad for wildlife and marine ecosystems.

deflated balloons in the ocean

The National Oceanic and Atmospheric Administration (NOAA) emphasizes that wildlife can confuse a balloon’s small, bright pieces as food. The agency points out that the balloons released into the air don’t merely go away. They either get stuck on something like electrical wires or tree branches. Others may deflate and plummet into the ground, where they can create many problems. 

Balloons that are not disposed of properly end up in the ocean and along the shores, and worse, they can be mistaken for food by wildlife and marine animals. Strings or ribbons attached to the balloon, on the other hand, can cause entanglement and other injuries. 

Another major problem is marine debris.

Experts are also worried about balloons becoming marine debris. Solid waste, found in global water bodies and the accumulation of such waste along waterway shorelines, is termed marine debris. Marine debris is frequently cited as one of the most widespread issues in global marine pollution.

7 Alternatives to Balloon Releases

person releasing a balloon

At first, we are hesitant to talk about this because we know how sentimental balloon releases are in many communities, organizations, and families. Fortunately, there are several alternatives to balloon launches.

A non-profit organization called Clearwater Marine Aquarium recommends seven potential alternatives to balloon launches, including the following: 

  • Flags 
  • Banners 
  • Streamers 
  • Kites 
  • Pinwheels 
  • Bubbles 
  • Floating Flowers 

Do you want to make a meaningful contribution to save Mother Nature? Now is the best opportunity to help!  Next time you’re thinking about celebrating, try these environmentally friendly replacements for balloons. 

Conclusion 

Our effort has exposed the environmental hazard that balloon celebration may bring to our plant. We must reassess our traditions and consider some eco-friendly alternatives to commemorate special events. Let us prioritize sustainability and make informed choices to make a lasting impact on the environment. It’s time to deflate the myths and rise above the challenges associated with balloon releases. 

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Why Green Living Matters? Ways to Reduce Your Carbon Footprint

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Green living has become a popular campaign in a world increasingly defined by rapid industrialization. It is about switching to an eco-friendly lifestyle and living a simple life that will help us combat the effects of climate change. Our combined efforts to practice a green, sustainable lifestyle will be a significant step to save the planet and our future. And that practice will be the ultimate guide to our green lifestyle. 

What Does Green Living Entail?

person holding a sign

Green living is a lifestyle that promotes creating a balance in preserving and protecting Earth’s natural resources, ecosystems, and biodiversity. In short, green living is a way of developing sustainable habits in one’s daily life. This way, their daily routines work alongside the natural resources instead of consuming them or damaging the environment permanently. 

The vital aspects of green living are reducing pollution, protecting wildlife, and conserving natural resources. People need to recognize that green living can alleviate the rapidly increasing global warming and climate change rates. 

What are the Benefits of Green Living?

people holding a small plant

The apparent advantage of green living is enhanced sustainability within individuals and the world. It also improves the state of the environment by taking into consideration the reduction of impacts of climate change and global warming. 

However, there are many benefits to committing to green living, which include the following:

Mitigate Further Pollution

Green living directly reduces your carbon footprint and overall global emissions. You immediately make a difference in pollution through simple habits like lowering your electricity consumption or avoiding plastic use.

Preserve the Natural Resources

One of the primary aspects of green living is using what you already have. This is where the concept of “reduce, reuse, recycle” comes in. 

Likewise, gardening was a green living trend that became popular due to the pandemic. More and more people have decided to grow their produce at home, reducing food waste and excessive use of plastic packaging. 

Green Living is Economical

Did you know that most Eco-friendly products are becoming cheaper? So, if you join the green living movement, you’ll notice a decrease in your usual spending habits. 

Lead A Healthier Life

Green living will help improve your diet and overall health because of increased fruit and vegetable consumption. Amidst the fast food era, most people no longer consume the recommended amount of fruits and vegetables. Green living can help encourage better eating habits while saving the planet. 

The Domino Effect

If one person sees how well you’re doing in green living, they will be inspired to try the same. Remember, the battle against climate change requires collective efforts. If we can slowly create change in the community, we can drastically reduce the harmful effects of global warming.

7 Ways to Reduce Your Carbon Footprint

green icons

A few simple changes around your home can reduce your carbon footprint. You can prevent waste and pollution by using the shower instead of a bath and using your reusable grocery bags. Look at some fixes that WWF pushes for implementing green living in your own simple ways. 

1. Dial it down. Turning your thermostat down to 2 degrees in winter and up two degrees during summer could save approximately 2,000 pounds of carbon dioxide annually.

2. Turn it off. Artificial lighting comprises 44% of electricity use in office buildings. Always turn off the lights for 15 minutes or more when leaving any room. Also, switch off power strips and unplug electrical devices when not in use. 

3. Use cold water. Using cold water can as much as 80% of the energy needed to wash your clothes. Opt for a low setting on the washing machine to help save water.

4. Switch to electronic billing. Paper products comprise the most significant percentage of local solid waste in the United States, and printed bills alone generate almost 2 million tons of CO2. So, save paper by switching to electronic billing (e-billing).

5. Buy local produce. In North America, for example, fruits and vegetables travel 1,500 miles, on average, before reaching your plate. Buy fresh, local food to avoid long distances traveled and preserve nutrients and flavor.

6. Recycle. You can recycle plastic bottles, paper, electronics, batteries, etc. Practice proper disposal and learn how to recycle such products.

7. Switch to solar. Use solar panels to power your homes or offices. This can lower your electric bill and reduce your carbon footprint. Explore this option and help our planet through renewable energy.

Final Thoughts 

Green living reduces the further impact of global warming. It is a simple way to lessen the adverse effects of climate change because it encourages individuals to reduce their carbon footprint. Collectively, it can help reduce global temperatures. Moreover, green living improves health and sustainability in your own life and paves the way for a brighter future.

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