Klaus W. Larres, University of North Carolina at Chapel Hill
Beijing is touting its role in the world and praising its autocratic governmental system and its huge countrywide surveillance network. Hawks in Washington aren’t impressed.
In the week ending February 28, leading stock markets around the world faced their worst week since the financial crisis of 2008. And things could get worse.
Chinese electric vehicle sales already amount to more than half of the world’s total – and car makers and battery manufacturers are working hard to grow even faster.
While the tariffs are unlikely to stem Chinese intellectual property theft or reverse the steep trade deficit, they are certain to hurt American companies and consumers.
China’s goods are everywhere, thanks to the gains China has made from trade and foreign investment. Now that China wants to return the favor, the US may risk losing out if it chooses to turn inward.
China’s interventions to cheapen its currency relative to others will hurt US imports in the short term, but the country’s surging “mainstream” will easily offset the impact.
Australian Prime Minister Tony Abbott has been forced to respond to calls for stricter food labelling and inspection of food imports, following a spate of hepatitis A infections suspected of being linked…