NYT
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Tag: International Trade and World Market
Trump Is Breaking the Rule That Every Barroom Brawler Knows
Provoking your enemies, alienating your friends and actively sabotaging your own defenses is no one’s idea of a sound national security plan. And yet, this is the playbook that President Trump has apparently followed over the first 100 days of his second term. You can see it most clearly in the global fight he kicked off with China. He’s been scrapping for this showdown since before he entered politics, so you’d think that before taking on such a global powerhouse, he’d strengthen every alliance, game out every possible countermeasure and…
Yellen Sees ‘More Work to Do’ as China Talks End With No Breakthrough
Four days of top-level economic meetings between the United States and China concluded in Beijing on Monday with no major breakthrough, but the world’s two largest economies agreed to hold more discussions to address rising friction over trade, investment and national security. The conversation is poised to become even more difficult, however, as hopes of greater economic cooperation collide with a harsh political reality: It is an election year in the United States, and antipathy toward China is running high. At the same time, Chinese officials appeared unmoved by Treasury…
‘Reglobalization’ to the Rescue?
Russia, China, Iran and their allies, by contrast, tend to use the term to describe a new world order in which they play a greater role, said Benedikter, who first heard “reglobalization” at a 2017 conference in Russia. Since then, he said, the term has gained traction as the global supply chain has experienced shocks from the pandemic, Russia’s war on Ukraine and attacks by Houthi rebels on commercial ships in the Red Sea. To Harold James, a Princeton economic historian, the term describes the constantly shifting relations in global…
China Lifts Punishing Tariffs on Australian Wine
In a sign of easing tensions between Australia and China, China said Thursday it will lift the tariffs it placed on Australian wine more than three years ago. The tariffs, which were first imposed in 2020 amid a nasty diplomatic spat between Australia and China, had all but vaporized the country’s biggest overseas market, worth 1.2 billion Australian dollars or around $800 million at its peak. Australian winemakers faced desperate hardship and were stuck with a surfeit of big-bodied red wines. The decision to lift the tariffs was announced by…
Yellen to Warn China Against Flood of Cheap Green Energy Exports
The Biden administration is growing increasingly concerned that a glut of heavily subsidized green technology exports from China is distorting global markets and plans to confront Chinese officials about the problem during an upcoming round of economic talks in Beijing. The tension over industrial policy is flaring as the United States invests heavily in production of solar technology and electric vehicle batteries with funding from the Inflation Reduction Act of 2022, while China pumps money into its factory sector to help stimulate its sluggish economy. President Biden and Xi Jinping,…
Germany’s Solar Panel Industry, Once a Leader, Is Getting Squeezed
Before China came to dominate the solar panel industry, Germany led the way. It was the world’s largest producer of solar panels, with several start-ups clustered in the former East Germany, until about a decade ago when China ramped up production and undercut just about everyone on price. Now as Germany and the rest of Europe try to reach ambitious goals to cut greenhouse gas emissions, the demand for solar panels has only increased. Some of the last remaining manufacturers in Germany’s solar industry are not ready to give up.…
China’s Plan to Spur Growth: A New Slogan With Familiar Ideas
From the top of the government, China is heavily promoting a plan to fix the country’s stagnant economy and offset the harm from a decades-long housing bubble. The program has a fresh slogan, presented foremost by Xi Jinping, the country’s top leader, as “new, quality productive forces.” But it has features that are familiar from China’s economic playbook: The idea is to spur innovation and growth through massive investments in manufacturing, particularly in high-tech and clean energy, as well as robust spending on research and development. And there have been…
What China Is Saying About the TikTok Furor in Washington
This is not the first time that China has seen a frenzy over TikTok consume Washington. In 2020, former President Donald J. Trump issued an executive order that would have forced TikTok’s Chinese owners to sell the popular app. But Beijing foiled a takeover bid by American buyers by slapping curbs on technology exports. Last year, Montana lawmakers enacted a ban on TikTok in the state, but the law was blocked by a federal judge before it could take effect. Now, U.S. lawmakers are again attempting to force ByteDance, TikTok’s…
China’s Exports Surge Are Drawing a Global Backlash
China’s factory exports are powering ahead faster than almost anyone expected, putting jobs around the world in jeopardy and setting off a backlash that is gaining momentum. From steel and cars to consumer electronics and solar panels, Chinese factories are finding more overseas buyers for goods. The world’s appetite for its goods is welcomed by China, which is enduring a severe downturn in what had been the economy’s biggest driver of growth: building and outfitting apartments. But other countries are increasingly concerned that China’s rise is coming partly at their…