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.

Living and dealing with RF impairments in communication transceivers

This paper provides an overview of the sources and effects of the RF impairments limiting and rendering the performance of the future wireless communication transceivers costly as well as hindering their wide-spread use in commercial products. As transmission bandwidths and carrier frequencies increase effect of these impairments worsen. This paper studies and presents analytical evaluations of the performance degradation due to the RF impairments in terms of bit-error-rate and image rejection ratio. The paper also give highlights of the various aspects of the research carried out in mitigating the effects of these impairments primarily in the digital signal processing domain at the baseband as well as providing low-complexity hardware implementations of such algorithms incorporating a number of power and area saving techniques.

Construction studies in higher education and the use of digital technology

The construction industry wants graduate employees skilled in relationship building and information technology and communications (ITC). Much of the relationship building at universities has evolved through technology. Government and the ITC industry fund lobby groups to influence both educational establishments and Government to incorporate more ITC in education _ and ultimately into the construction industry. This influencing ignores the technoskeptics’ concerns about student disengagement through excessive online distractions. Construction studies students (n=64) and lecturers (n=16) at a construction university were surveyed to discover the impact of the use and applications of ITC. Contrary to Government and industry technopositivism, construction students and lecturers preferred hard copy documents to online feedback for assignments and marking, more human interface and less technological substitution and to be on campus for lectures and face-to-face meetings rather than viewing on-screen. ITC also distracted users from tasks which, in the case of students, prevented the development of the concentration and deep thinking which a university education should deliver. The research findings are contrary to the promotions of Government, ITC industry and ITC departments and have implications for construction employers where a renewed focus on human communication should mean less stress, fewer delays and cost overruns.

Managing Vietnamese newsrooms: the role of internal communication

There have been many studies on news production but little has been found about newsroom efficiency despite the fact that this is journalists’ main concern. The very few (mostly foreign) researchers who study Vietnamese media usually look at them from policy making and political-social perspectives, and with an outsider’s eye. They have little physical access, if any, to the media houses, which surely limits their view. Their approach implicitly over-emphasizes the influence of political forces and neglects the media’s own dynamics. This research takes a different approach: from insiders’ point of view. Using two daily newspapers as case studies, this multi-disciplinary ethnographic research seeks to understand the strategies Vietnamese news media employ to cope with the subsidy cuts and increasing competition while still under close political control. A particular focus is on the newsroom operational strategies to improve efficiency. It is found that organizational structure and culture, work climate, motivation and employee satisfaction, leadership and management styles, personnel policies (task requirements vs personal abilities and skills), systems/policies and procedures, and most importantly, communication are the factors that affect the newsroom efficiency, as well as newsroom strategy implementation and results.

Culture in Transfer: Translation and Transcultural Communication International Conference

It is widely acknowledged that interpreters need to have knowledge of the cultures represented by the languages they work with (e.g. Roy 2002, Angelelli 2004, Wadensjŏ 2008). However, it is not clear what interpreters are expected to do with this knowledge. Some scholars recommend that interpreters be cultural mediators (e.g. Katan 2004 & 2014). As an attempt to examine existing guidelines on interpreters’ roles in the face of cultures/cultural issues, the research reported in this paper compares and contrasts the codes of conduct for interpreters from a number of associations and institutions in the UK, the US and China. The research has collected three different sets of data and has sought to investigate (1) in what ways interpreters are expected to do with their knowledge of cultures; (2) to what extent interpreters’ role as cultural mediators is referred to or defined in these codes of conduct; and (3) whether or not relevant guidelines are practically helpful for interpreters to deal with the range of cultural issues they may encounter in interpreting. Data analysis suggests that while cultural knowledge is a requisite for interpreters, the expectation for them to be cultural mediators may depend on the types of interpreting setting they work with and further guidelines are needed so that interpreters are clear on what they are required to do in dealing with cultural issues. The paper then discusses the implications of these findings and points to some directions for future research. Key references Brunette, L., G Bastin, I. Hemlin and H. Clarke (ed.). The Critical Link 3: Interpreters in the Community. Amsterdam/Philadephia: John Benjamins. Hale, S. 2007. Community Interpreting. Hampshire, New York: Palgrave Macmillan. The International Association of Conference Interpreting, 2015. Interpreting Explained. Available from: http://aiic.net/; accessed on 24 June 2015 Katan, David, --- 2004. Translating Cultures: An Introduction for Translators, Interpreters and Mediators. St Jerome. --- 2014. Workshop: Translation at the cross-roads: time for the transcreational turn? University College London. Martín, Mayte C. & Mary Phelan, 2009. Interpreters and Cultural Mediators – different but complementary roles. In: Translocations: Migration and Social Change. ISSN Number: 2009-0420 (online) McDonough Dolmaya, Julie, (2011. Moral ambiguity: Some shortcomings of professional codes of ethics for translators. In: The Journal of Specialised Translation. Issue 15, January 2011 (online). Pöchhacker, F., 2008. Interpreting as Mediation. In: (ed.) Valero Garcés, C. and Martin, A, Crossing Borders in Community Interpreting: definitions and dilemmas, pp. 9-26. John Benjamins Amsterdam and Philadelphia. Roy, Cynthia B., 2002. The Problem with Definitions, Descriptions, and the Role Metaphors of Interpreters. In: (ed.) Pöchhacker, Franz & Miriam Shlesinger, The Interpreting Studies Reader. Routledge. Wadensjö 1998. Interpreting as Interaction. New York: Addison Wesley Longman Inc.