Commerce Secretary Gina Raimondo proudly held up the progress of American industry on semiconductor manufacturing Sunday, declaring that the U.S. has “out-innovated” China as the two nations fight to advance their domestic technology manufacturing. Semiconductor manufacturing has been a major priority of President Biden’s domestic policy, with Raimondo at the head. Biden has repeatedly held … Read more
The week-long trip to China by US Treasury Secretary Janet Yellen sidestepped core economic disputes, and without headway, analysts said the pressure of November’s presidential election could force the Biden administration “to be more aggressive” on the trade front. Yellen ended her second trip to China in 10 months on Tuesday, having met Chinese officials … Read more
Premier Li Qiang, Vice-Premier He Lifeng, Minister of Finance Lan Fo’an, central bank governor Pan Gongsheng and Liu He, China’s former vice-premier who led previous trade negotiations with the US, would also meet with Yellen during trip, the US Treasury statement added. Current affairs: sparks fly between China, US over EVs before Janet Yellen visit … Read more
Still, for many Chinese firms that do venture out, or wish to, concerns linger over profitability, policy uncertainties and safety – as well as vast differences in the work cultures. “It was very tough to convince or to try to explain to Chinese companies from mainland China why they should come to Mexico and what … Read more
Just a quarter of business economists and analysts expect the United States to fall into recession this year. And any downturn would likely result from an external shock – such as a conflict involving China – rather than from domestic economic factors such as higher interest rates. But respondents to a National Association of Business … Read more
Photo: Smith Collection/Gado (Getty Images) The Department of Homeland Security raided the U.S. subsidiary of a Chinese auto parts manufacturer outside of Dayton, Ohio on January 18, 2023. The agency won’t comment about the nature of the search warrant executed against Harco Manufacturing other than that it was part of a federal investigation, the Dayton … Read more
But how long will the reset last? As the systemic divisions underlying US-China relations remain unresolved, people have reason to wonder. For example, Biden stressed that both countries should manage their competition responsibly to prevent it from veering into conflict while Xi wondered aloud “are we adversaries or partners?”. Few would expect the diplomacy between … Read more
