The National Defense Authorization Act (NDAA) for 2027 is coming into focus after the House and Senate armed services committees advanced their versions of the bill earlier this month.
In a public setback for China’s Ministry of Commerce (MOFCOM), a touted foreign investment reform reflects the continued use of the National Development and Reform Commission’s (NDRC) approach to managing inbound foreign investment and fails to include even the limited openings that MOFCOM advocated.
Traditionally overshadowed by metropolises such as Shanghai and Beijing, Zhejiang Province’s capital city of Hangzhou found itself in the global spotlight during the G20 Summit. To beautify the city and ease congestion for its international guests, the government shut down polluting factories, shipped away migrant workers, gave citizens vouchers to encourage vacation, and spent more than $1 billion on a new convention center.
The European Union and the United States in July filed with the World Trade Organization (WTO) new disputes against China regarding its raw materials export duties. Both complaints claim China export duties unfairly favor Chinese industry, which is against the laws of the organization. These complaints were filed just months before the 15-year anniversary of China’s entry into the WTO, and the deadline to remove China’s non-market status. As the deadline looms, many in the United States and the EU are worried about protecting themselves from overcapacity, especially in steel.
