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China has a global image problem

This is the web version of Eastworld, Fortune’s newsletter focused on business and technology in Asia. Subscribe here to get future editions in your inbox.

A new report by the Pew Research Center finds that China has won global recognition as an economic superpower.

The report, based on a survey of public opinion in 14 major democracies, observes that, in those nations, a median of 48% of respondents identified China not just as a leading economy but the leading economy in the world. The U.S. finished a distant second; across the 14 nations, the median of those polled who picked the U.S. as the world’s top economy was just 35%.

One might think Pew’s discovery would be a source of pride in China, where leaders of the Communist Party have long vowed to restore their nation to its rightful place on the global stage and reverse a “Century of Read the rest

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TSMC Leads Chipmakers’ Sales Surge Ahead of New iPhones

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. reported a stronger-than-expected 22% rise in quarterly sales, buoyed by orders from its largest customers including Apple Inc.The world’s largest contract chipmaker saw revenue for the three months to September climb to a record NT$356.4 billion ($12.4 billion), up from NT$293 billion a year earlier, according to Bloomberg calculations based on monthly sales data disclosed by TSMC. Fellow Taiwanese chipmakers United Microelectronics Corp. and MediaTek Inc. on Thursday also reported strong sales, suggesting a broad recovery in the industry.TSMC in July raised its 2020 outlook, saying that revenue this year will grow by more than 20% in dollar terms. Sales for the first nine months of the year suggests that Apple’s main iPhone chipmaker is on track to meet its growth forecast as the Covid-19 pandemic fueled demand for home computing equipment.The company’s business typically revs up in the months before Apple unveils new … Read the rest

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A Guide For Entrepreneurs: How To Give Your New Business The Best Possible Start To Life

All successful companies share one all-important trait — a solid structure. If you want your next business venture to reach its full potential in years to come, it’s absolutely essential that you fortify its foundations during the initial stages of its inceptions. The earliest days of your organization’s lifecycle will either help or hinder its ongoing growth, which is why it’s crucial that you get things right at this incredibly important and delicate time.

Want to find out what you must do to give your new business the best possible start to life? If so, be sure to read on.

Hiring amazing employees right off the bat.

Failing to take your time when it comes to your hiring process could have serious consequences for your business going forward. All it takes is one bad apple to spoil the rest of the fruit bowl… and it’s no different with employees. Should … Read the rest

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1 in 4 clients have cut back on saving plans – PFS

More than 1 in 4 financial advisers (27%) taking part in a PFS straw poll said clients had reduced the amount they were saving and spending due to concerns about the impact of the Coronavirus pandemic.

In contrast, 29% of advisers said clients were saving more cash during lockdown.

The PFS released the results of the poll, carried out in September, to support World Financial Planning Today today.

The PFS said its poll suggested many clients of financial advisers were sticking to their plans – although the PFS is concerned about a seeming recent spike in enquiries about pension transfer advice.

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Overall the poll showed despite the upheaval four out of 10 financial advisers stated that their clients had made “no change” to their financial plans due to the Coronavirus pandemic.

Keith Richards, chief executive of the Personal Finance Society, said: “Today (7 October) is World Financial Planning

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U.S. companies have more female CFOs than ever before

Good morning, Broadsheet readers! Eileen Murray settles with Bridgewater, Michelle Obama has a final pitch for the Biden-Harris campaign, and the number of female CFOs reaches a record. Have a lovely Wednesday.

– A CFO record. The Broadsheet has been tracking the record number of female CEOs in the Fortune 500 this year, but there’s another all-time high to report: The number of female CFOs.

According to data from executive recruiter Crist Kolder Associates, there are 90 female CFOs at S&P 500 and Fortune 500 firms, surpassing the previous peak of 89 in 2018, Bloomberg reports. Recent female CFO appointments include Ann Gugino at Papa John’s, Gina Goetter at Harley-Davidson and Amy O’Keefe at WW International.

Tom Kolder, president of Crist Kolder, told Bloomberg the trend reflects the fierce competition for finance jobs; firms are looking deeper into their finance bench, where more women are present.

Once in the … Read the rest

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Poland Ups Nord Stream Fight With $7.6 Billion Gazprom Fine

(Bloomberg) — Poland’s antitrust watchdog slapped a $7.6 billion fine on Gazprom PJSC over the Nord Stream 2 pipeline, opening a new front in the bitter political battle over the natural gas project.The record fine adds to pressure against project — nearly complete — that will feed gas from Russia under the Baltic Sea into Germany. Poland and the U.S. have long objected to the pipeline, arguing it will deepen Europe’s dependence on energy supplies from Russia. Germany has taken a more commercial view of the project, leaving Poland frustrated by the EU’s approach.The regulator said the Baltic Sea pipeline impedes competition and “violates the interests of consumers.” It gave Gazprom and its partners 30 days to terminate financing agreements to “restore” competition. The fine amounts to 10% of the revenues of Russia’s primary gas export company, the maximum allowed penalty. Gazprom said it will appeal.“This is serious and bad … Read the rest

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Can You Make Money Online? How To Avoid “Scams” And Find True Success

by Ian Pribyl, Founder of StoppingScams.com and author of “From Nothing: Everything You Need to Profit from Affiliate Marketing, Internet Marketing, Blogging, Online Business, e-Commerce and More… Starting With <$100

Now more than ever, people all over the world are considering starting an online business. What becomes abundantly clear to anyone as they begin trying, however, is how many “snake oil” salesmen there are in that industry. It can be hard to decipher who you can trust which leads any sane person to ask themselves, “Can you REALLY make money online?

As shrouded in mystery as this industry often is, it’s absolutely possible with dedication and hard work. Young Upstarts has some outstanding articles for brainstorming which online business you might want to pursue:

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Save 50% on Financial Planning Today Magazine

The latest edition of Financial Planning Today Magazine is out and includes an exclusive Cover Feature on how Financial Planning professionals are leaping the hurdles created by the pandemic.

Leading Financial Planners share their growth stories and insider tips on staying ahead of the challenges caused by the pandemic. 

Other highlights include:

• Paraplanners share their working from home ‘highs and lows’

• A poignant Planner Casebook on how one leading Financial Planner helped a family cope with the devastating loss of a loved one

• James Mackay of Frazer James on reaching “overlooked and under-served” nextgen clients

• Wes Nixon of Kelsall Steele on his move from compliance to Financial Planning and his client management philosophy

• Cedric Bucher of Hearthstone Investments on why property fund restrictions may turn out to be a wise move

• Susan Ring of Link Group on the outlook for dividends

• Plus contributions

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The WNBA gives a lesson on choosing political action over empty words

Good morning, Broadsheet readers! Kayleigh McEnany tests positive, all eyes are on the VP debate, and why the WNBA won’t say her name. Have a healthy Tuesday.

– She who must not be named. While most of the U.S.’s attention is, understandably, focused on presidential politics, I was interested to see that the New York Times yesterday ran a pair of stories focused on a certain female member of Congress.

If I were a WNBA player, I wouldn’t get any more specific than that. While I am a fan, I haven’t dribbled a basketball since junior high, so I’ll spell it out: Georgia Sen. Kelly Loeffler.

The first NYT story digs into how Loeffler—who is perhaps best known for making some very profitable stock trades soon after senators received a private briefing on COVID-19—went from “from political moderate to ‘more conservative than Attila the Hun.’” It’s an object lesson in … Read the rest

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Cybersecurity Pioneer McAfee Arrested for U.S. Tax Evasion

(Bloomberg) — Elusive cybersecurity pioneer John McAfee was arrested in Spain for tax evasion in the U.S., the Justice Department in Washington said.McAfee is accused of failing to file U.S. tax returns from 2014 to 2018 and hiding assets including real estate, a vehicle and a yacht in the name of others, prosecutors said. An indictment returned in June was unsealed on Tuesday after he was taken into custody. He’s being held pending extradition, the Justice Department said.He was arrested on Oct. 3 at Barcelona airport while traveling to Istanbul, according to an official at Spain’s national police force, who can’t be identified under internal policies.U.S. prosecutors claim McAfee earned millions of dollars through the promotion of cryptocurrencies, speaking engagements, consulting jobs and the sale of the rights to his life story for a documentary, but never filed tax returns. Instead, his income was paid into accounts held in the … Read the rest