US-China Trade War
Battles lines drawn between the world's two largest economies
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Background and explainers on the trade war between China, led by President Xi Jinping, and the United States, and its President Donald Trump. Having started in July 2018, the prolonged conflict reached a turning point in January 2020 with the signing of the phase one trade deal, but not after it had weighed heavily on the global economy for 18 months due to additional import tariffs levied by both China and the US. The US has accused China of unfair trading practices, including intellectual property theft, forced technology transfer, lack of market access for American companies in China and creating an unlevel playing field through state subsidies of Chinese companies. China, meanwhile, believes the US is trying to restrict its rise as a global economic power.
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World Opinion
US political leaders have resorted to playing the blame game to convince voters they are fixing the country’s trade deficit. But by going after China, they are ignoring the root of the problem – the federal government’s unchecked spending – while increasing the risk of a full-blown superpower conflict.
Opinion
Increase by Biden White House seems designed to win points for re-election, but will only delay the inevitable if American car makers fail to make up for lost time
China’s inter-regional rivalries and US inter-party politics are colliding in the fight for global electric vehicle dominance, pushing the world towards a future of walled camps engaged in escalating mercantilism while putting our common destiny at risk.
The West misunderstands China’s efforts at boosting innovation and satisfying domestic demand as seeking to undermine foreign competitors. While oversupply is a valid concern, a bigger problem is concentrated production among a small cluster of firms which US tariffs on China will not address.
In enacting yet another round of tariffs on Chinese exports, the Biden administration has its sights set firmly on its fortunes in November’s election. The US president has to shore up Democrats’ support in rust belt states and clearly thinks American firms and consumers are ready to pay the price tariffs will bring.
It is starting to look as if the changes in global economic ties will lead not to a hot war but a new ice age where US- and China-aligned blocs coexist in an environment of slow growth and tension
As Chinese multinational firms expand their presence internationally, they can reshape global production networks towards the Global South and accelerate the transition to a green economy, helping build a more sustainable future for all.
EU and US manufacturers already complaining of Chinese competition in solar power and electric vehicles won’t like China’s hydrogen policy. As it moves to produce hydrogen using renewable energy, this could become an important part of the world’s low-carbon future.
Complaints of Chinese overcapacity and dumping may be useful in justifying US, EU subsidies and trade barriers but China’s success is really due to its innovation and scale.
Latest US protectionist moves targeting Chinese steel and aluminium imports, together with other measures, risk another damaging round of trade war.
Chinese and American presidents took opportunity to have ‘candid’ and ‘constructive’ conversation against backdrop of testing events in region.
Updating John Meynard Keynes’ seminal predictions, IMF managing director Kristalina Georgieva has set out a hopeful scenario for the next century. But the outlook hinges on more sustainable and equitable growth.
China’s growing dominance in solar panels, electric cars and batteries is putting US and European manufacturers at a disadvantage and is attracting defensive hostility.
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