Tag: International Trade and World Market

Fake Signals and American Insurance: How a Dark Fleet Moves Russian Oil

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The Cathay Phoenix is not a lone rogue ship, but one of at least three tankers identified by The New York Times taking extraordinary steps to hide their true activity, a practice that helps them to elude U.S. government oversight and puts their American insurer at risk of violating recent sanctions on Russian crude oil. For years, ships wanting to hide their whereabouts have resorted to turning off the transponders all large vessels use to signal their location. But the tankers tracked by The Times go beyond this, using cutting-edge…

U.S. Solar Makers Criticize Biden’s Tax Credits as Too Lax on China

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Biden administration rules released on Friday that will determine which companies and manufacturers can benefit from new solar industry tax credits are being criticized by U.S.-based makers of solar products, who say the guidelines do not go far enough to try to lure manufacturing back from China. The rules stem from President Biden’s sweeping clean energy bill, which offers a mix of tax credits and other incentives to try and spur the construction of more solar factories in the United States and reduce the country’s reliance on China for clean…

‘Rip and Replace’: The Tech Cold War Is Upending Wireless Carriers

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Deep in a pine forest in Wilcox County, Ala., three workers dangled from the top of a 350-foot cellular tower. They were there to rip out and replace Chinese equipment from the local wireless network. Three hours into the job, the team ran into a hitch. Replacement gear from a European company was obstructing a safety beacon for airplanes. “We’ve got a problem,” a crew member on the ground said. “They say it’s blocking the beacon.” The project had already been delayed for months because of storms, slow equipment shipments…

Congress Clashes With Biden Over Tariffs on Illegal Chinese Solar Panels

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The Senate voted on Wednesday to reinstate tariffs on solar panels from Chinese companies in Southeast Asia that had been found to be coming into the United States in violation of trade rules. The measure, which passed by a vote of 56 to 41, had already been approved by the House. It sets up a showdown with the Biden administration, which had temporarily halted the tariffs to try to ensure that the country had an adequate supply of solar panels in the fight against climate change. President Biden has said…

As Xi Befriends World Leaders, He Hardens His Stance on the U.S.

Chin@Strategy

China’s top leader, Xi Jinping, has rolled out the red carpet for President Luiz Inácio Lula da Silva of Brazil, lauding him as “an old friend of the Chinese people.” He has sipped tea in a garden with President Emmanuel Macron of France, treating him to a performance of an ancient Chinese zither. And he has talked on the phone with Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, offering well wishes for the Muslim holy month of Ramadan. But even as Mr. Xi has offered a glad…

Why China’s Shrinking Population Is a Problem for Everyone

Chin@Strategy

Despite the rollback of China’s one-child policy, and even after more recent incentives urging families to have more children, China’s population is steadily shrinking — a momentous shift that will soon leave India as the world’s most populous nation and have broad rippling effects both domestically and globally. The change puts China on the same course of both aging and shrinking as many of its neighbors in Asia, but its path will have outsize effects not just on the regional economy, but on the world at large as well. Here’s…

‘Zero Covid’ Behind It, China’s Economy Starts to Recover

Chin@Strategy

Economic growth began to recover in China during the first three months of the year, after the government abruptly lifted stringent “zero Covid” measures in early December. The Chinese economy grew 4.5 percent from January through March compared with the same months last year, the country’s National Bureau of Statistics said Tuesday. Strong retail sales, up 10.6 percent in March from a year earlier, led the way. The stakes for the rest of the world are high. China has been the single largest engine of global growth for most of…

U.S. Car Brands Will Benefit Most From Electric Vehicle Tax Breaks

Chin@Strategy

American brands like Tesla and General Motors will benefit most from rules that determine which electric vehicles qualify for tax credits starting on Tuesday. Foreign carmakers like Hyundai will be at a significant disadvantage because of restrictions aimed at cutting China out of the supply chain. Only 10 vehicles will initially qualify for tax credits of $7,500, less than a quarter of the battery-powered cars on sale in the United States. But those 10 include many of the most popular models and accounted for two-thirds of electric vehicle sales before…

China’s Rise Relied on the West. Xi Jinping Is Turning Away.

Chin@Strategy

In late 1978, China’s paramount leader Deng Xiaoping set in motion two major policy shifts that would change China and the world order in the decades to come. At a Communist Party meeting in December of that year, the leadership declared that China would turn its focus from political struggle to economic development. Within days, China and the United States announced that they would establish diplomatic relations. These two events marked the end of China as a hermit country where one billion people lived in extreme poverty and the start…

China Wine Tariff Pushes Australia’s Grape Growers Into Crisis

Chin@Strategy

For years, China’s thirst for Australian wine seemed insatiable. Chinese drinkers were so passionate about big-bodied red wines from Australia that many vineyards replaced white grapes with darker varieties. Wineries even reverted to using corks — instead of convenient screw tops — because Chinese consumers liked the traditional plug. But then everything unraveled. In April 2020, Australia’s prime minister at the time, Scott Morrison, called for an independent investigation into the origin of Covid-19. Beijing was furious, denouncing “political games” meant to assign blame for the pandemic. In response, China…