Global Scans · China · Weekly Summary

WHAT'S NEXT?: Any disruption in economic activity between China and the United States will necessarily affect other Asian and world economies. How China handles Donald Trump's administration, its relationship with Russia and develops its leadership ambitions will be key areas to watch intently in the coming years.

• [New] The rise in geopolitical rivalry between the US and China could have a big impact with one of Ireland's largest trading partners and is a cause of concern for business. The Irish Times
• [New] Continued Geopolitical Rivalry: AI will remain a central component in the global competition for technological advantage, particularly between superpowers like the US and China. Security Boulevard
• [New] The fear among Biden administration officials is that Chinese manufacturing is powerful enough to push down prices globally, undercutting nascent U.S. companies and putting the Biden administration's subsidies to waste. Mint
• [New] Close exchange between governments and their businesses operating in China will be necessary to monitor developments and take remedial action. Merics
• [New] China opposes the unilateral imposition of tariffs which violate (World Trade Organization) rules, and will take all necessary actions to protect its legitimate rights. CNN
• [New] Electric vehicles imported from China will see their tariffs more than quadrupled from 27.5% to 100% - a policy lever meant to challenge Beijing's practice of encouraging aggressively low pricing by domestic EV manufacturers while levying a 40% tariff on US car imports. CNN
• [New] An axis of authoritarian states including Russia, China, Iran and North Korea pose increasing threats. The Mirror
• [New] If political relationships with China continue to be stable and not deteriorate further, maybe (foreign firms) can tap Baidu or Tencent for next-generation products in the 2030s. The Nation
• [New] Russia and China, which are strong supporters of Palestine's UN membership, were concerned that granting the rights and privileges listed in an annex could set a precedent for other would-be UN members - with Russia concerned about Kosovo and China about Taiwan. The Business Post
• [New] The Biden administration plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. HT Auto
• [New] In terms of China's place in the global supply chain and economic integration, China will prioritize its domestic political needs ahead of the global common good, as evidenced in how the dynamic zero COVID policy and its associated lockdowns have been implemented. Time
• [New] While China under Xi Thought ultimately aims to make China the preeminent power in the world, it will not seek to replace the U.S. as the global hegemon. Time
• [New] China is taking steps to make its economy less reliant on the West, and it could have both economic and military motivations for doing so. Insider
• [New] Driven by geopolitical tensions and disruptions in the global supply chain due to the COVID-19 pandemic, many companies are diversifying their production away from China, particularly in critical tech sectors like semiconductor manufacturing. The Silicon Review
• [New] Political leaders fear Chinese EV imports because China is able to undercut American manufacturers on price, while including more powerful batteries and advanced technology. The Guardian
• [New] As the US continues to curb China and other countries' access to US AI, there are concerns that a bifurcation of AI technology between the two major regions of the world could appear. Verdict
• [New] The new US curbs will target China, Russia, North Korea and Iran, citing sources. Verdict
• [New] Companies are now shifting investments to mitigate the impact of decoupling between China and other countries as well as to find opportunities elsewhere. Insurance Journal
• The new submarines, which are expected to come online sometime around 2040, could be used to break a Chinese blockade of Taiwan in the event of large-scale military conflict, and they could also be used to blockade the Strait of Malacca and deprive China of oil imports from the Middle East. New Left Review
• The Belt and Road Initiative proposed by China will connect China closely with all countries in Southeast Asia. PubMed Central (PMC)
• The patent 'Copolymer and Method for Treatment of Bacterial Infection' has now been granted in China with an expiry of 2035 and, as a result, Recce is now patent-protected in all major global pharmaceutical markets. Proactiveinvestors UK
• Economic security in the US, China and increasingly in Europe will make it harder for China to mitigate its structural deceleration through innovation. Bruegel | The Brussels-based economic think tank

Last updated: 17 May 2024