“The economic growth of China is largely a wealth transfer from the United States,” says Robert Lighthizer. “You’re transferring the wealth of our children and grandchildren and their children overseas.” Mr. Lighthizer served as the U.S. Trade Representative in the Trump administration and also served as deputy trade representative in the Reagan administration. In this…
[PREMIERING 7/18, 7:30PM ET] ‘A Fool’s Bargain’—Robert Lighthizer on the US-China Trade Relationship and How to Strategically Decouple
July 17, 2023
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New Zealand Says Trade Deals With UK, EU Offer ‘More Favorable Terms’ Than China
New Zealand’s leader said that while his country has “sizable economic interests” in China, it also sees “high-value markets” through free trade agreements (FTAs) with the United Kingdom, European Union, and an Asia-Pacific trade group. Prime Minister Chris Hipkins made the remarks at the China Business Summit in Auckland on July 17, in which he…
China, Russia Carried Out ‘Record-High’ Military Drills in 2022: Report
China and Russia conducted joint military drills in 2022 on a larger scale than they did two decades ago, according to a Bloomberg report on July 15, raising concerns about a potential escalation of tensions. The two countries held six joint military drills last year, the highest number in the past 20 years, Bloomberg reported, citing…
The CCP Lowers US Dollar Interest Rates to Stabilize China’s Yuan
The Chinese Communist Party (CCP) has recently implemented two reductions in interest rates for U.S. dollar deposits in order to stabilize the exchange rate of the Chinese yuan. Analysts have raised concerns about the rapid depreciation of the yuan, which could lead to an increased outflow of funds from China and potentially heighten the risk…
US Calls for Freedom of ASEAN Countries to Choose Their Alliances
July 17, 2023
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U.S. Secretary of State Antony Blinken emphasized Friday the importance of ensuring the freedom of the Association of Southeast Asian Nations (ASEAN) to choose and forge alliances without facing coercion. Speaking to reporters following the ASEAN foreign ministers’ meeting in Indonesia, Blinken said the United States and the 10-member bloc have embarked on “a new…
Germany’s New ‘China Strategy’ All Bark, No Bite
Commentary After decades of being China’s closest ally in the European Union, Germany finally appears to have second thoughts. On July 13, Germany issued its first “China strategy” document to guide its political and business establishment on their China engagement going forward in an effort to balance the economic relationship along with the risks of…
IN-DEPTH: Surging Child Sex Abuse Cases in China
July 16, 2023
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Child sexual assault numbers are increasing dramatically in China, according to recent Chinese Communist Party (CCP) statistics and data from Girls Protection Fund, a Chinese non-profit. There are some obvious factors for the rising numbers, including China’s one-child policy and the country’s registration system, which forces many rural parents to leave their families to work…
IMF Hints Allowing Countries to Use Chinese Yuan for Debt Repayment
July 15, 2023
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The International Monetary Fund (IMF) has hinted that it may accept the Chinese Yuan as a currency for countries to settle their obligations with the IMF following Argentina’s recent debt repayment in yuan. IMF spokesperson Julie Kozack confirmed on Thursday that Argentina had paid off part of its debts—equivalent to $1.1 billion of the $2.7…
Gloomy Outlook for China Exports, as Economy Struggles to Recover Amid Weakened Global Demand
July 14, 2023
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China’s exports rapidly declined last month as part of an economic downturn unseen since the beginning of the COVID-19 pandemic. Chinese policymakers are under pressure to implement new stimulus measures in light of the challenges that the global economy is currently experiencing. The first quarter saw a momentary pickup in China’s economic recovery following the…
House Hearing: Growing Peril for American Companies in China
Are your China investments safe? Three witnesses at a House hearing reveal the pitfalls of doing business in China. Curious about the real risks of doing business in China? One of the most connected businessmen in the country shares his biggest lessons. Secretary Yellen gets back to traveling, with India and Vietnam trips planned after…
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