The North Korean regime continues to amass missile and nuclear technologies, through a combination of global licit and illicit transactions. North Korea trades for currency, for fuel, and for military materiel to preserve its power. Will expanded sanctions choke off revenue for weapons programs, or will continued trade ties with China throw North Korea a lifeline?
If the Trump administration confronts China over unfair trade practices it will need to ignore handwringing from trade groups, but the action will still offer only half of a solution. It generally doesn’t help when you are losing a race to complain that your competitors are running too fast. To stay in the lead, you have to pick up the pace.
In 2016, American ranchers sold $6.3 billion worth of beef overseas, finding its way into traditional meat dishes from yakiniku in Japan to tacos al carbon in Mexico, and bulgogi in South Korea. And now, thanks to a new trade deal, they can sell beef to China too.
Confirmation of Robert Lighthizer as USTR is still pending but some of his views on China were revealed at his hearing. The WTO may not have all the tools needed to address China’s industrial policies so the Trump Administration may look for additional new ones.
Chinese New Year celebrations kick off on January 28. Despite slowing growth, Chinese consumers will goose their economy buying new holiday clothes, food and drinks for gatherings, and gifts for relatives for the holiday.
If you’re like most Americans, you are more familiar with Davos Seaworth from Game of Thrones than with the little ski town of Davos, Switzerland. But this week in Switzerland, China’s president and a representative from Mr. Trump’s Administration both said they’d like to avoid a trade war.
Michael Jordan’s exploits on the basketball court were legendary, but the former hoops star seems to be showing that he’s got “game” when it comes to the rules of international trade as well.
China argues it should be granted “market economy status” by all WTO Members. Some of the world’s major economies, including the United States, think it depends on the specific situation. American producers of industrial commodities such as steel say China is not operating on market principles in their sector.
In the 1980s, the southern Chinese coastal city of Shenzhen was not much more than a small fishing village, home to some 30,000 hearty souls eking out a living barely above the subsistence level.
Services represent just under 50% of gross domestic product in China compared with 63% in Russia, 70% in Brazil, and 52% in India. China could rebalance export oriented growth if it adopts a more open and transparent services economy.