Trump’s pick for trade representative could lead to tougher U.S.-China trade relations
Top business and technology news for January 13, 2017. Part of the daily SupChina news roundup Tillerson risks ‘devastating confrontation’ with Beijing.
BUSINESS AND TECHNOLOGY:
Opinion: Trump’s pick on trade could put China in a difficult spot / NYT (paywall)
U.S. president-elect Donald Trump named Robert Lighthizer, a China critic who served in the Reagan administration, as the new U.S. Trade Representative on January 3. The move “could put China in a difficult spot,” as Lighthizer is known for blaming U.S. trading partners for the problems of working-class Americans and manufacturers. Lighthizer, who previously pushed for “very aggressive” tactics at the World Trade Organization to reduce the U.S. trade deficit with China, said in a testimony to a congressional commission in 2010, “It seems clear that the U.S. manufacturing crisis is related to our trade with China.” Read more about his testimony here.
China overseas investment spree set to run out of steam / WSJ (paywall)
After years of robust increases, China’s direct investment overseas in many areas, such as infrastructure and real estate, is likely to decline this year, according to a government think tank. Growth of China’s overseas direct investment, which doesn’t include stocks and bonds, has been increasing at an annualized rate of 35 percent since 2003. However, several factors, including stricter scrutiny of overseas investment and the prospect of a tougher U.S. trade policy, will put downward pressure on outbound investment in 2017.
- China posts worst export fall since 2009 as fears of U.S. trade war loom / Reuters
- China credit growth exceeds estimate as lending remains robust / Bloomberg
- China’s reputation for low-cost manufacturing under attack / The Economist
- The limits of China’s ‘Silk Road’ to Europe / The Diplomat
- China has built the world’s largest bullet-train network / The Economist
- Why China is counting its chickens / CNN
- The rise of Pear Video: Making short news videos trending on Chinese social media / What’s on Weibo
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