News analysis European Union officials are pushing President-elect Ursula von der Leyen to update its Standards Policy to favor EU tech firms by slapping tariffs on the United States and China. During the rise of globalism and internationalization of supply chains, the European Union supported multilateral standards development organizations (SDOs), with the argument that they
That is Stephen Moore, the Chief Economist of the Heritage Foundation. In the wake of the Fed’s lowering the interest rate, Trump’s new tariffs on China, the RMB falling to a historic low and the U.S. designation of China as a currency manipulator, we need to make sense of the whole sequence of events. How are they
The founder of Chinese telecom giant Huawei said on Aug. 19 that he expects no relief from Washington’s 90-day extension to a reprieve that allows the firm to buy from U.S. companies to supply existing customers. Instead, the U.S. decision to add another 46 Huawei affiliates onto the economic blacklist while granting the extension is
News Analysis A crisis of confidence has gripped China’s regional lenders, as Beijing moved to nationalize its third major financial institution since May. Hengfeng Bank Co., a regional lender based in Shandong Province, received official approval for restructuring by taking a lifeline from an entity affiliated with the Shandong provincial government, as well as Central
Commentary A recent 76-nation study found a noticeable correlation between patience and prosperity. Indeed, a world map depicting the degree of patience in countries bears a striking similarity to Transparency International’s Corruption Perceptions Index. The more patient and less corrupt a country is, the more prosperous it tends to be. The authors of the new
WASHINGTON—China has resorted to currency manipulation, allowing the yuan to fall against the U.S. dollar, in an apparent effort to blunt the effect of the trade war on the Chinese economy. The United States labeled Beijing a currency manipulator, after the Chinese renminbi weakened to its lowest level since 2008, slipping below the level of 7 per dollar, which had been
Commentary China already knows who it wants in the Oval Office after the 2020 election—his name is Beijing Joe Biden. Well, anyone with a “D” after their name would do, but “Beijing Joe” is their preferred candidate. China hasn’t had it easy under President Trump, who came into office vowing to renegotiate harmful, outdated trade deals that put U.S. workers
The Chinese yuan has breached a key seven-per-U.S. dollar exchange rate on Aug. 5, for the first time in 11 years. The seven-per-dollar benchmark is significant because the Chinese regime has said that rate would be the bottom threshold that ensures that foreign investors wouldn’t move out of China. A higher exchange rate would allow Beijing to
China’s falling savings rate coupled with increasing government directed investment rate threatens a balance of payments crisis that could crash currency and asset values. China became the “factory to the world” and built incredible infrastructure over the last three decades based on the strength of individual savers who remembered the hard times of the Great
Commentary The Sino-U.S. trade war morphing into a technology war is giving Hong Kong the opportunity to regain some lost leverage over the Chinese Communist Party. Beijing historically kept a low profile in Hong Kong to facilitate the city as a conduit for the flow of foreign technology and investment into the mainland Chinese economy.
Staffers at Chinese telecom giant Huawei have previously worked for Chinese intelligence or military agencies, according to an analysis of employment records from thousands of employees that have been leaked online, raising further questions about the company’s ties to the Beijing regime. A recent study by Christopher Balding, an associate professor at Fulbright University Vietnam, conducted with the UK-based think tank Henry Jackson Society,
China President Xi Jinping came to the G-20 summit meeting in Japan with Trump as a supplicant and left having narrowly escaped disaster. Xi faced a flagging economy at home and a popular uprising in Hong Kong. In fact, the political crisis that his hardline policies towards the former British colony have caused is so sensitive
Three South Korean companies have recently shut down some of their production facilities in China, after taking a cue from South Korean tech giant Samsung Electronics. Automakers Hyundai Motor and Kia Motors, and tech giant LG Electronics decided to execute a long-overdue decision to shift production out of China, after seeing Samsung announce such a
Commentary Not that long ago, so it seems, my politically enlightened friends complained about the United States’ trade policy with China. Why, they would ask, do we give “most favored nation” status to a country that suppresses free speech, stifles dissent, brutalizes its citizens, ignores intellectual property law, and uses slave or prisoner labor? On
WASHINGTON—The current U.S.–China trade dispute could shave 0.5 percent off the global economy, International Monetary Fund (IMF) chief Christine Lagarde said on June 5. Speaking at the American Enterprise Institute, Lagarde defined trade as a “major growth engine” for the world economy. And any brakes on trade, she said, such as tariffs and nontariff barriers, would put a brake
Commentary When people believed the 14-month U.S.-China trade negotiations were finally drawing to a satisfactory close, Beijing made a surprising move to backtrack on all major agreements, to the great annoyance of Washington. In addition to the ensuing tariff increase, the overall U.S.-China bilateral relationship is also heading towards a danger zone. According to Forbes,
Editor’s Note: This is an abridged translation of an article by Wang Shangyi, which was originally published in SecretChina on May 27. The additional 25 percent tariff imposed by the United States on $200 billion worth of Chinese goods will trigger a new round of factory closures in China, driving economic collapse. After more factories close, foreign exchange
During the Cold War, around half of the world ran on the technologies, machinery, and political ideologies developed by the Soviet Union. The other half—the free world—adopted those of the United States and its allies. As trade war tensions between the United States and China escalate, could we be on the cusp of a new
For years now, the US Chamber of Commerce, which has sponsored the ASEAN Business Outlook Survey, has identified corruption as a major challenge to doing business in the ASEAN region. In January 2016, Transparency International (TI), an anti-corruption organisation based in Berlin, released its Corruption Perceptions Index. “Based on expert opinion from around the world,”
The much anticipated debate between Fox Business Network’s news anchor Trish Regan and Chinese state media CGTN’s host Liu Xin about the ongoing US–China trade dispute was finally on air the morning of May 29. It all started after Ms Regan said on her show ‘Trish Regan Primetime’ on May 14 that the United States
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