Call for a ‘smart reset’ of U.S.-China economic relations
Top business and technology news for February 3, 2017. Part of the daily SupChina news roundup "Self-taught villager wins lawsuit against chemicals company."
- Opinion: The art of a China deal / ChinaFile
James McGregor, veteran China businessman and author of One Billion Customers: Lessons from the Front Lines of Doing Business in China, writes that Donald Trump “should know that he is about to be seriously outsmarted by a country that has been spectacularly outmaneuvering American policymakers and businesses for at least a decade.” However, he sees potential for commerce secretary nominee Wilbur Ross to negotiate a “Trump Pacific Partnership” that will reassure Asian allies and curtail China’s protectionism. He also thinks U.S. trade representative nominee Robert Lighthizer could apply his expertise in trade law to establish reciprocity in economic relations. McGregor concludes that without a dedicated “united front” advocating American interests, which could be aided through a “purpose-built annual president-to-president meeting” instead of the current series of ministerial-level meetings, American businesses will struggle rather than prosper in China.
- What’s behind China’s disruptive foray into e-cars? / Caixin
Faraday Future is a U.S.-based electric car manufacturer that is yet to sell a single vehicle. It is funded by LeEco, a Chinese company that is good at generating headlines but seems unable to generate much cash (see this Bloomberg piece). But there’s a lot more to China’s electric car industry than hype: The Caixin article linked above is a good roundup of the landscape in China for electric vehicle startups.
- China says ‘Silk Road’ push will counter ‘isolationism’ / Reuters
- China tightens monetary policy by raising money market rates / Bloomberg
- Private indicator shows slowdown in China growth – Caixin PMI declined from 51.9 in December to 51.0 in January / CNBC
- Opinion: A ‘green leap forward’ in China? What a load of biomass / WSJ (paywall)
- Ford is starting to sell supersized pickup trucks in China. Will anyone buy them? / Washington Post
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