Tag: US – China Trade War

The US-China rivalry in tech and trade won’t end because Joe Biden is president

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Analysis by Jill Disis, CNN Business

Updated 1043 GMT (1843 HKT) November 9, 2020

See how world reacts to US presidential election results
See how world reacts to US presidential election results

Hong Kong (CNN Business)President Donald Trump spent much of his term setting up Beijing as Washington’s greatest political and economic adversary. Don’t expectdrastic changes when Joe Biden takes the helm, even if he eschews the bluster and unpredictability of his predecessor.Economists and trade experts believe that the United States and China will move further apart on trade and technology as Washington continues to scrutinize virtually every aspect of its relationship with the world’s second-largesteconomy.”We have a fundamental, systematic rivalry between these two systems,” said Alex Capri, research fellow at the Hinrich Foundation and senior fellow and lecturer at the National University of Singapore. “In many ways, that rivalry is going to intensify.”

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The real winners of the US-China trade dispute

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DW

With tariffs on Chinese products high, US importers are turning to other countries. A DW analysis shows where Americans are now buying their cell phones, computers, furniture and clothing from instead.

Data visualization preview picture Trade War

Dung Trans’ business is booming: “Last year, we added a second floor to our factory. And now I’m looking at a new site four times larger than the current one.” For his company, the ongoing trade dispute between China and the United States has been a boon. And he is not alone.

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US designates six more Chinese media companies as foreign missions

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By Ben Westcott and Jennifer Hansler, CNN Business

Updated 0541 GMT (1341 HKT) October 22, 2020

Screengrabs from journalists speaking to press after being evacuated from China
Screengrabs from journalists speaking to press after being evacuated from China

Concept illustration released on Aug 23, 2016 by the lunar probe and space project center of Chinese State Administration of Science, Technology and Industry for National Defence shows the concept portraying what the Mars rover and lander would look like. China's planetary exploration program has been named Tianwen, or Quest for Heavenly Truth, the China National Space Administration announced on Friday.

(CNN Business) The United States government has labeled six more Chinese media companies operating in the US as foreign missions in the latest round of tit-for-tat between Beijing and Washington over restrictions on journalists.US Secretary of State Mike Pompeo announced the decision at a press briefing on Wednesday, saying that the six media companies were “substantially or effectively controlled by a foreign government.””We’re not placing any restrictions on what these outlets can publish in the United States,” Pompeo said. “We simply want to ensure that American people, consumers of information, can differentiate between news written by a free press and propaganda distributed by the Chinese Communist Party itself. They’re not the same thing.”The US operations of Yicai Global, Jiefang Daily, Xinmin Evening News, Social Sciences in China Press, Beijing Review and Economic Daily will all be affected by the decision, according to a release from State Department spokesperson Morgan Ortagus.

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The U.S.-China Conflict Over Chips Is About to Get Uglier

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Alan Crawford, DebWu, Colum Murphy and Ian KingFri, October 23, 2020, 12:42 AM GMT+7·11 mins read. Yahoo!Finance

The U.S.-China Conflict Over Chips Is About to Get Uglier
The U.S.-China Conflict Over Chips Is About to Get Uglier

(Bloomberg) — On a scorching hot day in late August, representatives of Taiwan’s government and industry crowded into the clinical cool of a state-of-the-art semiconductor facility for a symbolic moment in the global tech conflict.

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US-China decoupling: is Beijing ramping up its diversification away from the US dollar?

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US-China frictions and the threat of American financial sanctions have renewed debate in Beijing about reducing dependence on the US dollarChina cut its holdings of US government debt to US$1.07 trillion in late August, the lowest level since March 2017, the US Department of Treasury says

Frank Tang

Frank Tang in Beijing

Published: 12:00am, 21 Oct, 2020 SCMP

China has long tried to undermine the US dollar’s dominant role in the international monetary system, despite the fact that the bulk of its reserves are in dollar-denominated assets. Photo: Reuters

China has long tried to undermine the US dollar’s dominant role in the international monetary system, despite the fact that the bulk of its reserves are in dollar-denominated assets. Photo: Reuters

China may be speeding up the diversification of its foreign exchange reserves away from US dollar assets in response to potential American financial sanctions, but there are clear limits on how far it can go in its de-dollarisation push, according to analysts.China has long tried to undermine the US dollar’s dominant role in the international monetary system, despite the fact that the bulk of its reserves are in dollar-denominated assets.

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China warns India on eyeing trade talks with Taiwan; slams US-Tibet meeting

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Chinese Foreign Ministry spokesman Zhao Lijian (Photo: Reuters)

Chinese Foreign Ministry spokesman Zhao Lijian (Photo: Reuters)

3 min read. Updated: 20 Oct 2020, 09:20 PM IST Elizabeth Roche, livemint.com

  • ‘There is only one China in the world, and Taiwan is an inalienable part of Chinese territory,’ says Chinese foreign ministry spokesman Zhao Lijian
  • The comments come against the backdrop of tensions between India and China along their common border in Ladakh

NEW DELHI: China on Tuesday warned India against launching any talks with Taiwan on trade saying such a move would be violative of the one China policy New Delhi has so far supported.

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Keep an Eye on Taiwan

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The battle over the island may be a Cold War relic, but it will shape the future.

MICHAEL SCHUMAN OCTOBER 10, 2020 The Atlantic

Man holding the Taiwan flag up in the air, in front of a blue sky
JOSE LOPES AMARAL / NURPHOTO / GETTY

Taiwan is one of those flash points that has never flashed. The dispute over the island’s fate has had the potential to erupt into conflict between China and the United States for decades. But the feared Chinese invasion has never come. The situation has remained deadlocked for so long that Taiwan’s quandary often drifts into the background of Asian affairs, overshadowed by seemingly more-pressing concerns, such as North Korea’s nuclear ambitions and inflamed tensions between India and Pakistan in Kashmir.

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How China Outsmarted the Trump Administration

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The Atlantic

While the U.S. is distracted, China is rewriting the rules of the global order.

Illustration similar to UN logo with globe's latitude and longitude lines as a broken net
Lan Truong

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Back in may, when President Donald Trump called for America to stop funding the World Health Organization, he presented a list of the WHO’s recent failures: the organization’s initial failure to flag the spread of the novel coronavirus; its initial failure to follow up when Taiwan—a country excluded from the WHO because of Chinese objections—inquired about evidence that seemed to indicate that the virus could be transmitted from one human to another; its initial failure to press China to accept an international investigation into the source of the virus. At the beginning of the pandemic, the WHO, which operates as a specialized agency of the United Nations, seemed to be one beat behind. It also seemed overly reliant upon biased information provided by the government of China.

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United States closes immigration door to communists in clear swipe at China

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Yahoo! News

Keegan Elmer South China Morning Post 4 October 2020

TĐH: This will affect Vietnam

The United States has released guidance on its immigration laws that will make it almost impossible for members of a Communist party or similar to be granted permanent residence or citizenship of America.

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Pompeo, Vatican clash over China after tensions spill out

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By NICOLE WINFIELD Oct. 2, 2020 AP

U.S. Secretary of State Mike Pompeo meets Vatican Secretary of State Cardinal Pietro Parolin, at the Vatican, Thursday, Oct. 1, 2020. Pompeo is meeting Thursday with top Vatican officials, a day after tensions over U.S. opposition to the Vatican’s China policy spilled out in public. (Vatican Media via AP)

ROME (AP) — The U.S. and the Vatican butted heads over China on Thursday as the Holy See chafed at U.S. Secretary of State Mike Pompeo’s public call to take a harsher stance against Chinese restrictions on religious freedom.

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US-China tech war: can China’s chipmaking drive save it from US technology embargo?

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Beijing is going all in to back a breakthrough in Chinese semiconductor manufacturing as the nation faces US sanctions on hi-tech goodsBut many newcomers to the industry have little experience and some experts say the ‘whatever it takes’ approach shows tolerance for inefficiency

Cissy Zhou

Cissy Zhou

Published: 11:30pm, 28 Sep, 2020 SCMP

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A quick guide to the US-China trade war

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16 January 2020, BBC

Containers are unloaded at Qingdao Port

The world’s two largest economies have been locked in a bitter trade battle.

The dispute has seen the US and China impose tariffs on hundreds of billions of dollars worth of one another’s goods.

US President Donald Trump has long accused China of unfair trading practices and intellectual property theft.

In China, there is a perception that America is trying to curb its rise as a global economic power.

Negotiations are ongoing but have proven difficult. In January, the two sides signed a preliminary deal but some of the thorniest issues remain unresolved.

Uncertainties around the trade war have hurt businesses and weighed on the global economy.

What tariffs have been imposed?

Mr Trump’s tariffs policy aims to encourage consumers to buy American products by making imported goods more expensive.

The US has imposed tariffs on more than $360bn (£268bn) of Chinese goods, and China has retaliated with tariffs on more than $110bn of US products.

Washington delivered three rounds of tariffs in 2018, and a fourth one in September last year. The most recent round targeted Chinese imports, from meat to musical instruments, with a 15% duty.

Beijing hit back with tariffs ranging from 5% to 25% on US goods.

What’s next?

Under the so-called “phase one” deal signed in January, China pledged to boost US imports by $200bn above 2017 levels and strengthen intellectual property rules.

The US agreed to halve some of the new tariffs it had imposed on China.

The White House said it will tackle additional issues in a second, “phase two” deal but analysts said they didn’t expect anything concrete anytime soon

Semiconductors are a weapon in the U.S.-China trade war. Can this chipmaker serve both sides?

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BY EAMON BARRETT

August 10, 2020 5:30 PM GMT+7

What a difference two months can make. In May, Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest chipmaker, lost the business of Huawei Technologies—its biggest Chinese customer and the source of 13% of its revenue—as a casualty of geopolitical jockeying between superpowers. But TSMC shareholders took the loss in stride. And by late July, after a stumble by rival Intel, TSMC’s stock had risen almost 50% since May, making it one of the world’s 10 most valuable companies. 

May’s low and July’s high have something in common: They both reflect TSMC’s distinctive role in the global tech economy. Although far from a household name, TSMC controls roughly half of the world’s contract chip manufacturing. Brand-name companies that design their own chips—most notably Apple—rely on TSMC’s world-class production so they don’t have to spend tens of billions to build their own factories. Crack open your iPhone and you’ll find a chip from TSMC. If you could crack open an American guided missile, you’d likely find one there too. Its prowess has elevated TSMC to No. 362 on the Global 500, with $35 billion in revenue. Today it gets 60% of sales from the U.S. and about 20% from mainland China. 

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