Please disable your adblock and script blockers to view this page

From trade to TikTok: How US-China decoupling affects everyone


The New York Times
State
Presidential Library
Museum
the Chinese Communist Party
the White House
Trump
Huawei Technologies
Uighurs
The US Federal Reserve
the Federal Reserve Bank of New York
the United Nations Conference on Trade and Development
reshoring".Research
Enodo Economics
HSBC
Al Jazeera
Standard Chartered
TikTok
ByteDance
Microsoft
China Daily
Trump administration
the European Commission
Nokia
Ericsson
The Wall Street Journal
EU
the World Health Organization
the Brookings Institution
Al Jazeera NewsAsia
Al Jazeera Media Network


Richard Nixon
William Safire
day."I
Frankenstein
Mike Pompeo
Donald Trump
Mao Zedong's
hands."Trade
Frederic Neumann
Stephen
Stitt
IHS Markit
Thomas J Christensen


American
Communist
Republican
Chinese
Muslim
Asian
European
East Asian
Greek


West
the South China Sea
Asia
Pacific
nations."China

No matching tags


China

United States
Safire
US
California
Washington
Beijing
Hong Kong
Houston
Chengdu
Malaysia
Singapore
Vietnam
Japan
New Zealand
South Korea
London
India
Germany
the United Kingdom
France
2018.The
UK
Finland
Sweden
the United States


Cold War
Cultural Revolution

Positivity     34.00%   
   Negativity   66.00%
The New York Times
SOURCE: http://www.aljazeera.com/ajimpact/trade-tiktok-china-decoupling-affects-200803144706785.html
Write a review: Al Jazeera English
Summary

Rising costs in China, increased automation - and growing anger at Beijing's appropriation of intellectual property in exchange for access to its markets - had already been pushing some Western companies to start looking at alternatives to China.But the US-China trade war forced many firms to move quickly.There are now a number of fronts along which the two countries are engaged in direct economic or political conflict.These include punitive tariffs placed by the US on about $370bn worth of Chinese imported goods, and retaliatory levies by China; the US's accusations that Chinese telecommunications equipment maker Huawei Technologies helps Beijing snoop on its enemies; the coronavirus; a row over Beijing's move to impose a security law on Hong Kong; US sanctions on some Chinese individuals linked to alleged human rights abuses against Uighurs and other minority Muslim groups; territorial disputes in the South China Sea; and most recently, the tit-for-tat closures of each other's consulates in Houston and Chengdu.All these developments have pulled the two superpowers further apart. The tariff war in particular has made a sizeable dent in both economies.The US Federal Reserve estimates the conflict (PDF) has resulted in a net loss of employment among US manufacturers in the first half of 2019, while the Federal Reserve Bank of New York says the trade war wiped $1.7 trillion off the value of US-listed firms over the two years since it began.Meanwhile, the United Nations Conference on Trade and Development says higher US tariffs on Chinese goods resulted in a 25 percent dropin Chinese exports to the US, and tens of billions of dollars of losses for Chinese firms.One direct consequence of the trade war has been to force some US companies that had over several decades outsourced manufacturing to low-cost centres - including China until recently - to accelerate plans to move some of those activities back home, a process known as "reshoring".Research firm Enodo Economics says the sectors most likely to do this are makers of cars and electrical machinery, wood processors, chemical firms and companies involved in railways, shipping, aircraft and pharmaceuticals.But reshoring might be easier said than done.Modern manufacturers farm out the production of components to other companies, which might in turn hire others to make the bits that go into those parts, and so on down the value chain.

As said here by Azhar Sukri