On December 30, the European Union (EU) and Chinese government announced that they had agreed in principle to a bilateral investment treaty, the Comprehensive Agreement on Investment (CAI), after 7 years of negotiations. The agreement appears to make modest progress in market access for EU investors in a few sectors, but does not appear to introduce dramatic changes to or openings in China’s commercial environment.
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January 13th, 2021
January 13th, 2021
President-Elect Joe Biden’s trade and economic team will face a variety of China-related issues from day one in office. The next US trade representative will have to grapple with what to do with the Phase One trade agreement and tariffs on some $370 billion worth of Chinese goods. The Commerce secretary will be responsible for implementing export control policy and deciding how to move forward with securing the information and communications technology supply chain, including recent orders...
January 13th, 2021
Battered by a global pandemic that took a toll on China’s domestic growth and the economies of its trading partners, China’s economy grew at an anemic 2.1 percent in 2020, the slowest pace in four decades—but also the fastest growth of any major economy. This year, the outlook appears brighter. China’s economy is expected to grow between 7 and 8 percent in 2021, bolstered by loosening virus restrictions, pent up consumer demand, and a slow return to normalcy after nearly a year of demand...
January 11th, 2021
Please allow me to wish everyone a more stable and prosperous 2021! We are on the cusp of significant change that will bring new challenges and opportunities to each of our members. Perhaps Vladimir Ilyich Lenin, when he was living in exile, described last week best when he said, “there are decades when nothing happens and there are weeks when decades happen.” The election of Joe Biden and the concomitant transition of the US Senate from Republican control to Democratic control presage a...
January 11th, 2021
On January 9, China’s Ministry of Commerce (MOFCOM) released Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures (Chinese text, English text), with the stated aim of “protecting Chinese citizens, legal entities, and organizations registered in China from harm caused by unilateral actions that interrupt normal trade activity.” Effective immediately, the rules establish a MOFCOM-led interagency group to evaluate whether foreign laws are...
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