Financial media, globalisation, and China’s economic integration: comparing narrative construction of the Economist and Caijing

In June 2015, legal frameworks of the Asian Infrastructural Investment Bank were signed by its 57 founding members. Proposed and initiated by China, this multilateral development bank is considered to be an Asian counterpart to break the monopoly of the World Bank and the International Monetary Fund. In October 2015, China’s Central Bank announced a benchmark interest rate cut to combat the economic slowdown. The easing policy coincides with the European Central Bank’s announcement of doubts over US Fed’s commitment to raise interest rates. Global stock markets responded positively to China’s move, with the exception of the indexes from Wall Street (Bland, 2015; Elliott, 2015). In the meantime, China’s ‘One Belt, One Road’ (or New Silk Road Economic Belt) became atopic of discourse in relation to its growing global economy, as China pledged $40 billion to trade and infrastructure projects (Bermingham, 2015). The foreign policy aims to reinforce the economic belt from western China through Central Asia towards Europe, as well as to construct maritime trading routes from coastal China through the South China Sea (Summers, 2015). In 2012, The Economist launched a new China section, to reveal the complexity of the‘meteoric rise’ of China. John Micklethwait, who was then the chief editor of the magazine, said that China’s emergence as a global power justified giving it a section of its own(Roush, 2012). In July 2015, Hu Shuli, the former chief editor of Caijing, announced the launch of a think tank and financial data service division called Caixin Insight Group, which encompasses the new Caixin China Purchasing Managers Index (PMI). Incooperation with with Markit Group, a principal global provider of PMI, the index soon became a widely cited economic indicator. One anecdote from November’s Caixin shows how much has changed: in a high-profile dialogue between Hu Shuli and Kevin Rudd, Hu insisted on asking questions in English; interestingly, the former Prime Minister of Australia insisted on replying in Chinese. These recent developments point to one thing: the economic ascent of China and its increasing influence on the power play between economics and politics in world markets. China has begun to take a more active role in rule making and enforcement under neoliberal frameworks. However, due to the country’s size and the scale of its economy in comparison to other countries, China’s version of globalisation has unique characteristics. The ‘Capitalist-socialist’ paradox is vital to China’s market-oriented transformation. In order to comprehend how such unique features are articulated and understood, there are several questions worth investigating in the realms of media and communication studies,such as how China’s neoliberal restructuring is portrayed and perceived by different types of interested parties, and how these portrayals are de-contextualised and re-contextualised in global or Anglo-American narratives. Therefore, based on a combination of the themes of globalisation, financial media and China’s economic integration, this thesis attempts to explore how financial media construct the narratives of China’s economic globalisation through the deployment of comparative and multi-disciplinary approaches. Two outstanding elite financial magazines, Britain’s The Economist, which has a global readership and influence, and Caijing, China’s leading financial magazine, are chosen as case studies to exemplify differing media discourses, representing, respectively, Anglo-American and Chinese socio-economic and political backgrounds, as well as their own journalistic cultures. This thesis tries to answer the questions of how and why China’s neoliberal restructuring is constructed from a globally-oriented perspective. The construction primarily involves people who are influential in business and policymaking. Hence, the analysis falls into the paradigm of elite-elite communication, which is an important but relatively less developed perspective in studying China and its globalisation. The comparing of characteristics of narrative construction are the result of the textual analysis of articles published over a ten-year period (mid-1998 to mid-2008). The corpus of samples come from the two media outlets’ coverage of three selected events:China becoming a member of the World Trade Organization, its outward direct investment, and the listing of stocks of Chinese companies in overseas exchanges, which are mutually exclusive in sample collection and collectively exhaustive in the inclusion of articles regarding China’s economic globalisation. The findings help to understand that, despite language, socio-economic and political differences, elite financial media with globally-oriented readerships share similar methods of and approaches to agenda setting, the evaluation of news prominence, the selection of frame, and the advocacy of deeply rooted neoliberal ideas. The comparison of their distinctive features reflects the different phases of building up the sense of identity in their readers as global elites, as well as the different economic interests that are aligned with the corresponding readerships. However, textual analysis is only relevant in terms of exploring how the narratives are constructed and the elements they include; textual analysis alone prevents us from seeing the obstacles and the constrains of the journalistic practices of construction. Therefore, this thesis provides a brief discussion of interviews with practitioners from the two media, in order to understand how similar or different narratives are manifested and perceived, how the concept of neoliberalism deviates from and is justified in the Chinese context, and how and for what purpose deviations arise from Western to Chinese contexts. The thesis also contributes to defining financial media in the domain of elite communication. The relevant and closely interlocking concepts of globalisation, elitism and neoliberalism are discussed, and are used as a theoretical bedrock in the analysis of texts and contexts. It is important to address the agenda-setting and ideological role of elite financial media, because of its narrative formula of infusing business facts with opinions,which is important in constructing the global elite identity as well as influencing neoliberal policy-making. On the other hand, ‘journalistic professionalism’ has been redefined, in that the elite identity is shared by the content producer, reader and the actors in the news stories emerging from the much-compressed news cycle. The professionalism of elite financial media requires a dual definition, that of being professional in the understanding of business facts and statistics, and that of being professional in the making sense of stories by deploying economic logic.

From Underground to Elite: Egyptian Bloggers before and after the 2011 Uprising

This research looks at how the shift in the status of Egyptian bloggers from underground dissident voices to mainstream political and media players affected the plurality they add to the public space for discourse in Egypt’s authoritarian settings. The role of the internet – and more recently social media and bloggers – in democratic transition has been studied by various media scholars since the introduction of the worldwide web and especially after the Egyptian and Tunisian uprisings of 2011. But no work has been done to study how bringing those once-underground bloggers into the public and media spotlight affected the nature of the blogosphere and the bloggers themselves. Star bloggers were not only covered by the media after January 25th, 2011, they also started joining the media as column writers; a move that had various effects on them and the blogosphere but was never examined in media studies. The plurality the blogosphere adds to the Egyptian public space for discourse in light of those changes as well as in light of the financial and practical sustainability of blogging was hence never looked at in a context similar to Egypt’s. Guided by modified theories of the public sphere and theories of hegemony and manufacturing consent, I look at whether bloggers have been co-opted into the historical bloc in the process of renewing the social order and how this affects them and the online sphere. Also, guided by theories of power and media elites, I look at bloggers’ backgrounds to assess whether they come from power elites and are transforming into media elites, thus limiting the plurality of the online sphere. Finally, guided by theoretical works on institutionalizing and commercializing the internet, I look at how those shifts into mainstream affect the independence and freedom of the blogs and microblogs. The research uses a comparative study to assess how those changes affect prominent versus less prominent bloggers and compare their backgrounds. The study uses quantitative content analysis and framing analysis of chosen media outlets and interviews with bloggers, marketeers and media professionals. The findings trace an increase in media coverage of bloggers post January 25th, 2011, especially in the prominent bloggers category, and an overall positive framing of bloggers post the uprising. This led to the mainstreaming of bloggers into the media as well as public work, which had various implications on the freedom they had over their content and voice, both online and offline. It also points to a dramatic decrease in bloggers’ activity on their blogs in favour of mainstream and social media and due to star bloggers becoming more career-oriented and their failure to make blogs financially sustainable. The findings also indicate that more prominent bloggers seem to come from more elite backgrounds than others and enjoy luxuries that allow them the time, technology and security to post online. This research concludes that the shifts in bloggers’ status post-January 25th have limited the plurality they add to the discourse in Egypt.

Plurality, policy and the local: can hyperlocals fill the gap?

Over the last 15 years, the acceleration in media consolidation has presented a series of policy challenges around diversity of editorial output. While policy debates on national ownership limits and other regulatory interventions are important, developments at the local level are often marginalised. And yet, the direction of travel—towards more consolidation and more deregulation—has arguably been more debilitating for democracy at the local level, where the vast majority of citizens interact with hospitals, schools, transport systems and local councils. The decline of local media—including, in some towns, the wholesale disappearance of local newspapers—leaves citizens starved of information and local institutions less accountable. This article uses an existing conceptual framework for assessing whether and how journalism makes a real-life contribution to democratic life at the local level. Against this normative framework, it then assesses the contribution of hyperlocal media sites to local democracy. We present findings from the most extensive survey of the hyperlocal sector to date, a collaboration with research partners at Cardiff and Birmingham City Universities and Talk About Local, which analysed online questionnaires from over 180 local online media initiatives. Our research offers a unique insight into the funding, operational problems and sustainability of community media sites, and suggests they have the potential to fulfil a vital democratic and civic role. These data inform our conclusions and recommendations for policy initiatives that would invigorate hyperlocal sites and therefore provide a real alternative for otherwise democratically impoverished local communities.

‘Don’t look down!’: A short history of rooftopping photography

The article examines the practice known as ‘rooftopping photography’ and its significance for the representation of vertical cities. It begins by charting the historical development of architecture as a viewing platform in the age of the camera, and dwells on the imagery of cityscapes from above that emerged in the inter-war period. Against this background, the essay investigates how rooftopping arose out of the urban exploration movement and became a global trend in the early 2010s. This phenomenon is situated within its wider social and cultural context, and is discussed with reference to the online media discourse that contributed to its public visibility. A set of ideas from the philosophy of photography and visual culture inform the critical analysis of rooftopping photographs: this broad and diverse body of images is examined with a focus on two predominant modes of representation—panoramic and plunging views. The affective responses elicited by so-called ‘vertigo-inducing’ images are discussed through the concept of vicarious kinaesthesia, which offers insights into the nexus between visceral experience and visual representation that lies at the core of rooftopping. By unpacking this interplay, the essay explores a phenomenon that has hitherto been given little scholarly attention and reflects on its broader implications for the relationship between photography and architecture today.

Changes to media consumption affecting production methods

Semi-converged media brands who have content on television and online need converged production teams and practices. The case study of BBC Children's 'Level Up' provides evidence and a useful illustration.

Queer youth, Facebook and faith: Facebook methodologies and online identities

‘Making space for queer-identifying religious youth’ (2011–2013) is an Economic and Social Research Council (ESRC)-funded project, which seeks to shed light on youth cultures, queer community and religiosity. While non-heterosexuality is often associated with secularism, and some sources cast religion as automatically negative or harmful to the realisation of lesbian, gay, bisexual and transgender (LGBT) identity (or ‘coming out’), we explore how queer Christian youth negotiate sexual–religious identities. There is a dearth of studies on queer religious youth, yet an emerging and continuing interest in the role of digital technologies for the identities of young people. Based on interviews with 38 LGBT, ‘religious’ young people, this article examines Facebook, as well as wider social networking sites and the online environment and communities. Engaging with the key concept of ‘online embodiment’, this article takes a closer analysis of embodiment, emotion and temporality to approach the role of Facebook in the lives of queer religious youth. Furthermore, it explores the methodological dilemmas evoked by the presence of Facebook in qualitative research with specific groups of young people.

Alienation and Digital Labour – a Depth-Hermeneutic Inquiry into Online Commodification and the Unconscious

At the core of this paper is a psychosocial inquiry into the Marxist concept of alienation and its applications to the field of digital labour. Following a brief review of different theoretical works on alienation, it looks into its recent conceptualisations and applications to the study of online social networking sites. Finally, the authors offer suggestions on how to extend and render more complex these recent approaches through in-depth analyses of Facebook posts that exemplify how alienation is experienced, articulated, and expressed online. For this perspective, the article draws on Rahel Jaeggi’s (2005) reassessment of alienation, as well as the depth-hermeneutic method of “scenic understanding” developed by Alfred Lorenzer (e.g. 1970; 1986).

Understanding citizen media as practice: agents, processes, publics

Much recent commentary on citizen media has focused on online platforms as means through which citizens may disseminate self-produced media content that challenges dominant discourses or makes visible hidden realities. This chapter goes beyond a concern with media content to explore the much broader range of socially situated practices that develop around citizen media. Drawing on Couldry’s proposal for a practice paradigm in media research, it suggests shifting the focus from ‘citizen media’ to ‘citizen media practices’ and demonstrates, through a case study of communication activism in the World Social Forum, how this framework can bring into view a broad range of citizen media practices (beyond those directly concerned with the production and circulation of media content), the different forms of agency that such practices make possible, and the social fabric they can help generate. I conclude by arguing that a practice framework necessitates a rethink of the way that the concept of (counter-) publics is used in the context of citizen media. Citizen media practices of the kind described here can be understood not only as practices of ‘making public’ previously unreported issues and perspectives, but as practices of public¬-making: practices that support the formation of publics.

Scenes of provincial life: an online video sequence and commentary

I present here a sequence of short videos, Scenes of Provincial Life, forming a unified, ongoing online work. In my written commentary I discuss the work‘s context, genesis and facture and presentation and thereby demonstrate its claim to originality as art work. I go on to suggest one possible interpretive framework for it. I then discuss the nature of art works as candidates for the generation of new knowledge and conclude that art works in general fulfil this function, in a very carefully defined way, as a necessary condition of being art works. I further connect the success of any work as art work with the richness of its knowledge generating capacity, inseparably allied to its aesthetic force. I conclude that if Scenes of Provincial Life is seen to have value as artwork it will therefore by definition be a creator of new knowledge.

Policy Solutions and International Perspectives on the Funding of Public Service Media Content for Children: A Report for Stakeholders

This project on Policy Solutions and International Perspectives on the Funding of Public Service Media Content for Children began on 8 February 2016 and concludes on 31 May 2016. Its outcomes contribute to the policy-making process around BBC Charter Review, which has raised concerns about the financial sustainability of UK-produced children’s screen content. The aim of this project is to evaluate different funding possibilities for public service children’s content in a more challenging and competitive multiplatform media environment, drawing on experiences outside the UK. The project addresses the following questions: • What forms of alternative funding exist to support public service content for children in a transforming multiplatform media environment? • What can we learn from the types of funding and support for children’s screen content that are available elsewhere in the world – in terms of regulatory foundations, administration, accountability, levels of funding, amounts and types of content supported? • How effective are these funding systems and funding sources for supporting domestically produced content (range and numbers of projects supported; audience reach)? This stakeholder report constitutes the main outcome of the project and provides an overview and analysis of alternatives for supporting and funding home-grown children’s screen content across both traditional broadcasting outlets and emerging digital platforms. The report has been made publicly available, so that it can inform policy work and responses to the UK Government White Paper, A BBC for the Future, published by the Department of Culture, Media and Sport in May 2016.

Power, Arab media Moguldum & gender rights as entertainment in the Middle East

Discourse is a giant field of research and gender related rights are still a disputed area of thinking. Thus, when Arab transnational satellite televisions produce dialogues, images, stories and narratives about the disputed “universal” gender rights in the Middle East, the big questions remain how and why. According to De Beauvoir (1949), one becomes woman and to Butler (1990) one is not born a gender at all but is “done” and “undone” to become one via discourse. Islamic feminism speaks of a cultural/religious specificity in defending women rights and even gender diversity based on new Quranic interpretations. The gender, “Al-Naw’u”, remains synonym to sex “Al Jins” as gender and queer theories never developed in Arabic in tandem with the European institutions or the theories of the19th century– especially those ideas emerging from studies of the mental asylum. This research tries to understand gender related “rights” and “wrongs” as manifest in the discursive institutions owned by media mogul Prince Al Waleed Ben Talal Al Saud. The trouble of such a study is lexical, ideological and institutional at the same time. Since we lack a critique of the discourses and narratives addressed in the pan-Arab satellite channels, in general it is difficult to understand their significance and influence in everyday life practices. What language is used to speak of gender rights or wrongs? Which ideology is favoured in this practice of legitimisation and/or policing? Using case studies, CDA of social and religious talk shows, narrative analysis of Arabic cinemas, this research adapted triangulation to show the complexity of conversing and narrating gender related content at the micro and macro levels within an institution of power. Using semi-structured interviews from fieldwork in Egypt (2009) and Lebanon (2011), archive research and online ethnography, the research exposes the power structure under which gender discourses evolve. It emerges that gender content is abundant on the Pan Arab satellite space, “manufactured” on talk shows and plotted tactfully in the cinematic “creative-act”. The result is a complex discourse of gender content that scratches the surface calling for interpretation. So how and why do gender rights and wrongs find place on Prince Al Waleed’s Media Empire?

Racism, nationalism and right-wing extremism online: The Austrian Presidential Election 2016 on Facebook

Thee 2016 Austrian presidential election saw a run-o between the Green party candidate Alexander Van der Bellen and the Freedom Party of Austria’s (FPÖ) far-right candidate Norbert Hofer. This paper asks: How did voters of Hofer express their support on Facebook? It presents the results of a qualitative ideology analysis of 6755 comments about the presidential election posted on the Facebook pages of FPÖ leader Heinz-Christian Strache and FPÖ candidate Hofer. The results reveal insights into the contemporary political role of the online leadership ideology, online nationalism, new racism online, the friend/enemy-scheme online, and online militancy. Right-wing extremism 2.0 is a complex problem that stands in the context of contemporary crises and demagoguery.