Highlights of this month’s edition:
• Bilateral trade: U.S. goods deficit with China slowed in November 2015 as imports from China declined. • Bilateral policy issues: USTR challenges China’s discriminatory taxation policy for domestically produced small aircraft; the PBOC creates a multicurrency index for the RMB in a bid to deemphasize links to the dollar. • Policy trends in China’s economy: Beijing announces a slate of new reforms to improve quality of life, including changes to the household registration system; China a party to the Paris climate change agreement, but questions remain about reliability of China’s pledges. • Sector focus – Internet Privacy and Freedom of the Press: China passes antiterrorism law requiring decryption and other technological assistance from telecommunications and Internet services providers; Xi Jinping defends “Internet sovereignty” at Beijing-sponsored World Internet Conference despite China’s status as worst abuser of Internet freedom and jailer of journalists in 2015.
Leading up to the 2016 election, Taiwan’s electorate has grown largely dissatisfied with the state of the domestic economy and increasingly worried about Taiwan’s growing dependence on China. Amid stagnant growth and wages, the Democratic Progressive Party (DPP) has focused its campaign on improving Taiwan’s domestic economy through expanded social welfare benefits, a higher minimum wage, and new local sources of innovation. Meanwhile, the economic platform of the Chinese Nationalist Party (Kuomintang, or KMT) has largely been defined by promoting Taiwan’s external economic relations, especially with China, as a means of supporting export-led growth. This report provides an objective review of major economic indicators in Taiwan, and evaluates the implications of political transition for Taiwan’s economic relations with China, the United States, and the international community.
Despite China’s rapidly growing overseas engagement and recent multilateral initiatives, the country still receives development finance from a variety of governments and institutions. From a development perspective, China thus challenges convention and, like other middle-income countries, straddles the divide between a developing nation requiring external assistance and an emerging power assuming global leadership roles. This report examines China’s concurrent positions as a recipient and a provider of development finance, evaluating the objectives driving global finance flows, and assessing the impact of these flows on U.S. economic and diplomatic interests.
Highlights of this Month’s Edition • Bilateral trade: October U.S. goods trade deficit with China at $33 billion, the smallest deficit in seven months. • Bilateral policy issues: RMB added to the SDR basket; a U.S.-China agreement on joint inspections of accounting firms falls through, placing U.S. regulators in violation of their mandate. • Policy trends in China’s economy: Chinese e-commerce soars as Singles’ Day eclipses Black Friday and Cyber Monday in online sales. • Sector spotlight – Traditional Chinese medicine: Internationalization and modernization key for increasing quality and regulatory acceptance and boosting exports to Western market.
The U.S.-China Economic and Security Review Commission (USCC) released its 2015 Annual Report to Congress today. The 2015 report provides information on and analysis of developments in the U.S.-China security dynamic, U.S.-China bilateral trade and economic relations, and China’s evolving bilateral relationships with other nations.
The U.S.-China Economic and Security Review Commission was created by the United States Congress in October 2000 with the legislative mandate to monitor, investigate, and submit to Congress an annual report on the national security implications of the bilateral trade and economic relationship between the United States and the People’s Republic of China, and to provide recommendations, where appropriate, to Congress for legislative and administrative action.