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.

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.

Breaking Open the Black Boxes: media archaeology, anarchaeology and media materiality

An essay on the emergent methodology of media archaeology, in realtion to the material turn in approaches to digital media. In particular, this article advocates taking up Siegfried Zielinski's concept of 'anarchaeology', but in a different sense to the way it was originally proposed, in order to emphasise the political potentials of a media (an)archaeological methodological approach.

Children's TV and Digital Media in the Arab World

Who analyses children’s screen content and media use in Arab countries, and with what results? Children, defined internationally as under-18s, account for some 40 per cent of Arab populations and the proportion of under-fives is correspondingly large. Yet studies of children’s media and child audiences in the region are as scarce as truly popular locally produced media content aimed at children. At the very time when conflict and uncertainty in key Arab countries have made local development and diversification of children’s media more remote, it has become more urgent to gain a better understanding of how the next generation’s identities and world-views are formed. This interdisciplinary book is the first in English to probe both the state of Arab screen media for children and the practices of Arabic-speaking children in producing, as well as consuming, screen content. It responds to the gap in research by bringing together a holistic investigation of institutions and leading players, children’s media experiences and some iconic media texts. With children’s media increasingly linked to merchandising, which favours US-based global players and globalizing forces, this volume provides a timely insight into tensions between differing concepts of childhood and desirable media messages.

Policy mixes for resource efficiency – conceptual issues, design and assessment challenges

Since the 1950s the global consumption of natural resources has skyrocketed, both in magnitude and in the range of resources used. Closely coupled with emissions of greenhouse gases, land consumption, pollution of environmental media, and degradation of ecosystems, as well as with economic development, increasing resource use is a key issue to be addressed in order to keep the planet Earth in a safe and just operating space. This requires thinking about absolute reductions in resource use and associated environmental impacts, and, when put in the context of current re-focusing on economic growth at the European level, absolute decoupling, i.e., maintaining economic development while absolutely reducing resource use and associated environmental impacts. Changing behavioural, institutional and organisational structures that lock-in unsustainable resource use is, thus, a formidable challenge as existing world views, social practices, infrastructures, as well as power structures, make initiating change difficult. Hence, policy mixes are needed that will target different drivers in a systematic way. When designing policy mixes for decoupling, the effect of individual instruments on other drivers and on other instruments in a mix should be considered and potential negative effects be mitigated. This requires smart and time-dynamic policy packaging. This Special Issue investigates the following research questions: What is decoupling and how does it relate to resource efficiency and environmental policy? How can we develop and realize policy mixes for decoupling economic development from resource use and associated environmental impacts? And how can we do this in a systemic way, so that all relevant dimensions and linkages—including across economic and social issues, such as production, consumption, transport, growth and wellbeing­—are taken into account? In addressing these questions, the overarching goals of this Special Issue are to: address the challenges related to more sustainable resource-use; contribute to the development of successful policy tools and practices for sustainable development and resource efficiency (particularly through the exploration of socio-economic, scientific, and integrated aspects of sustainable development); and inform policy debates and policy-making. The Special Issue draws on findings from the EU and other countries to offer lessons of international relevance for policy mixes for more sustainable resource-use, with findings of interest to policy makers in central and local government and NGOs, decision makers in business, academics, researchers, and scientists.

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.

Cracking the USA? Interpreting UK-to-US TV Drama Translations

For well over half a century, British TV drama production has both inherited from and aimed to appeal to nations and cultures beyond the UK, particularly the lucrative (yet notoriously tough) US TV market. However, in the context of mainstream American broadcasting, British-produced imports have never been anything more than a peripheral presence on US small screens. A currently prominent production strategy aiming to counter the mainstream US TV market's aversion to foreign-sourced drama, in an attempt to access prime-time broadcasting positions, is a process which can be labelled as UK-to-US TV drama ‘translation’: the ‘recreation’ of British-based dramas within an American cultural framework. Whilst the cultural reconfiguration of game show and reality/lifestyle TV formats has received heightened critical attention in recent years, investigation into the international translation of TV drama remains less developed. This paper investigates both the internal textual operations and the external production dynamics involved in the process of UK-to-US TV drama translation, drawing on direct interview material from industry professionals. The UK and US versions of the crime drama Cracker constitute the core translation case study, utilising the close analysis of text and production context as a lens through which to examine the mechanics of UK-to-US TV drama translation.

How Vladimir Putin’s Divorce Story Was Constructed and Received, or When the President Divorced His Wife and Married the Country Instead

When the Russian president divorced his wife in 2013, social media crowds coined plenty of the Internet memes to interpret the news. Anastasia Denisova, Doctoral Researcher at CAMRI, examined the framing of the story in traditional and new media and came to the surprising findings.