US Treasury Secretary Janet Yellen’s plan is a protectionist disaster that will impede the path to net zero, says David Fickling for Bloomberg Opinion.
US Treasury Secretary Janet Yellen and People's Bank of China Governor Pan Gongsheng shake hands before a meeting in Beijing, China , on Apr 8, 2024. SYDNEY: Imagine if a Chinese company announced plans to build the biggest electric vehicle battery factory the world had ever seen.
If a country can manufacture goods at lower costs than you can, you shouldn’t raise tariff barriers. Instead, you should import the goods, and send back something in return where your industry is more efficient. Another notable factor is that imbalances in the US-China economic relationship now are as minimal as they have been in a generation. The bilateral trade deficit in 2023 came to US$279 billion, the lowest since 2010. Relative to the size of the US economy, the figure is the lowest it’s been since 2002, just months after China joined the World Trade Organization .
In lithium-ion batteries, we are still below target. In wind power - the clean-technology segment where exports are most difficult because of the huge size of turbines, and as a result a decent proxy for where the world might be if it weren’t for the investment plans of ambitious Chinese companies - we are drastically deficient.
United States Green Technology
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commentary: What to make of China not appointing new foreign minister at ‘two sessions’It had been widely speculated that Liu Jianchao would replace Wang Yi as foreign minister. That the transition did not happen at the National People’s Congress could point to some considerations on President Xi Jinping’s mind, says NUS East Asia Institute’s Chen Gang.
Read more »
Commentary: Singapore's comeback draw against China provides hope for a brighter footballing futureSingapore's fight to a 2-2 draw against China in their World Cup Qualifier clash tastes all the more sweeter given recent struggles, says CNA's Matthew Mohan.
Read more »
Commentary: China’s homegrown COMAC jet has its eye on Southeast Asia after Singapore debutThe COMAC C919 stole the limelight at the Singapore Airshow and went on a demonstration tour of Southeast Asia, but it will still be a hard sell outside of China for now, says Endau Analytics’ Shukor Yusof.
Read more »
Commentary: Are EVs a form of China’s soft power in Southeast Asia?The rapid expansion of Chinese electric vehicles and related investments in Southeast Asia is no fluke, says Intellisia Institute's Xirui Li.
Read more »
Commentary: Navigating China’s influence and expanding role in Southeast AsiaThere are nuances to geopolitical dynamics in the region and China needs to address the lack of confidence that it will "do the right thing”, says this ISEAS-Yusof Ishak Institute researcher.
Read more »