Category Archives: China

China | China warns US on higher tariff report

By ZHONG NAN, JING SHUIYU and REN XIAOJIN

Foreign Ministry spokesman: Countermeasures would follow

China will inevitably take countermeasures if the United States further hinders bilateral trade, the Ministry of Foreign Affairs said on Wednesday in response to Western news reports saying that Washington would more than double a set of earlier proposed levies on Chinese goods.

China | China works on enlarging its middle-income group

China is working on measures to enlarge its middle-income group, including increasing earnings for the low-income class, equalizing public services and reforming taxation, as Economic Information Daily reported Thursday.

The report cited data from the China Institute for Income Distribution of Beijing Normal University, showing that the middle-income class is expected to scale up to 43 percent in 2020 if there are no policy changes, while the figure could reach up to 50 percent with preferential policies.

China |

China imposed counter-tariffs on some import products from the United States at 12:01 pm Friday immediately after new US tariffs took effect, the country’s customs authority said.

In response to the US announcement to impose additional duties on Chinese imports, the Customs Tariff Commission of the State Council announced it would levy additional tariffs for 545 items worth about $34 billion, including agricultural products, vehicles and aquatic products, starting July 6, 2018.

North Korea Has the Upper Hand in Negotiations with Trump

by Vijay Prashad

North Korea’s Kim Jong-un met with Donald Trump of the United States in Singapore. This was the first meeting of the heads of government of these two countries. The United States has been at war with North Korea since 1950. Three years into that war, which destroyed most of the infrastructure in North Korea, the two countries—and South Korea—agreed to a halt in the active fighting. But the war did not end. It remains intact. A massive military deployment by the United States at the edge of North Korea maintains the fear inside the Korean Peninsula of annihilation. This is what makes the summit between Kim and Trump so important. Threats of war are now at a low point.

How Singapore, Astana and St Petersburg preview a new world order

Ahead of the crucial Shanghai Cooperation Organization (SCO) summit in Qingdao this coming weekend, three other recent events have offered clues on how the new world order is coming about.

The Astana Economic Forum in Kazakhstan centered on how mega-partnerships are changing world trade. Participants included the president of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun; Andrew Belyaninov from the Eurasian Development Bank; former Italian Prime Minister and president of the EU Commission Romano Prodi; deputy director-general of the WTO Alan Wolff; and Glenn Diesen from the University of Western Sydney.