For readers working inside the Washington beltway, the impending US government shutdown is dominating the news, with the minutiae of budget rules parsed daily. For readers outside of Washington, however, some context of the implications of the US budget gridlock may be useful to understanding the potential impact on US-China commercial relations.
The most pressing issue now is funding for the US government—which will close tomorrow unless the impasse is resolved—though soon after that...
China has stated its interest in joining the Trade in Services Agreement (TISA) negotiations, according to a BNA report. If it formally joins the negotiations, China’s participation would add new dimension and complexity to the talks, and would correspond with China’s stated intention to pursue “proactive strategies” to strengthen its services sector. The TISA negotiations, launched in 2013, seek to remove barriers and increase market openings originally covered in the 1995 General Trade in...
The US Treasury Department today released its semiannual Report to Congress on International Economic and Exchange Rate Policies, notably choosing not to label China a currency manipulator. The report stated the renminbi (RMB) has appreciated by 9.3 percent, and 12.6 percent at an inflation-adjusted rate, since June 2010. However, Treasury characterized the RMB as remaining "significantly undervalued" and emphasized that "more progress is needed" to effectively address currency...
