Beijing-based film-maker Jian Yi, now 43, clearly remembers the arrival of fresh milk in his life. It was an image of it, not the real thing. “It was the 1990s, and I first saw it in an advert on TV. The ad said explicitly that drinking milk would save the nation. It would make China stronger and better able to survive competition from other nations.” Like most ethnic Han, who make up about 95% of the population, Jian was congenitally lactose-intolerant, meaning milk was hard to digest. His parents did not consume dairy at all when they were growing up; China’s economy was closed to the global market and its own production very limited. Throughout the Mao era, milk was in short supply and rationed to those deemed to have a special need: infants and the elderly, athletes and party cadres above a certain grade. Through most of the imperial dynasties until the 20th century, milk was generally shunned as the slightly disgusting food of the barbarian invaders. Foreigners … [Read more...] about Can the world quench China’s bottomless thirst for milk?
Tariff free zone china
Good Thursday morning. (Was this email forwarded to you? Sign up here .) Trade talks progress, with fears of overcompromise American and Chinese officials have reportedly begun to hash out documents that could form the basis of a trade deal, but there are growing concerns that leaders of both nations are softening on key demands. More on the progress from Bloomberg, citing an unidentified source: • Several memorandums of understanding “would cover areas including agriculture, non-tariff barriers, services, technology transfer and intellectual property, said the person.” • “The enforcement mechanism remains unclear, but would likely be a threat that tariffs would be reimposed if conditions aren’t met, the person said.” • “No breakthrough is expected during this week’s talks,” though an extension to a March 1 deadline is still a possibility. But there’s a new fear surrounding the deal. According to Lingling Wei … [Read more...] about DealBook Briefing: Could Trump Cave Too Easily on a China Trade Deal?
The Department of Justice (DOJ) will support the Trump administration’s efforts to counter China’s unfair trade practices by establishing a unit focused exclusively on the prosecution of economic espionage by Chinese agents, Attorney General Jeff Sessions announced Thursday. Sessions unveiled the program, dubbed the China Initiative, during a speech in Washington, declaring Beijing’s alleged theft of American trade secrets a “real and illegal threat to our nation’s economic prosperity and competitiveness.” “This initiative will identify priority Chinese trade theft cases, ensure that we have enough resources dedicated to them, and make sure that we bring them to an appropriate conclusion quickly and effectively,” he said. The initiative will fall under the purview of Assistant Attorney General John Demers, who heads up the DOJ’s National Security Division. Senior FBI officials and at least five U.S. attorneys will … [Read more...] about Jeff Sessions Plans To Wage The Trade War With China In The Courts — Here’s How
President Trump has done many counterproductive things on trade. His recently announced (and later scaled back) steel tariffs, for example, will punish car makers and other industrial users of steel. And his decision to pick fights with nations in Europe and North America needlessly angers important allies. But with his announcement to impose penalties on up to $60 billion in Chinese imports, Trump has finally hit on a trade action that makes a certain amount of sense. China's numerous state-owned companies limit access to Chinese markets, while exports to the United States continue at a robust level. Its practice of requiring foreign companies to share trade secrets in return for market access is nothing short of a shakedown. And its tolerance for (perhaps even encouragement of) theft of intellectual property makes it a lawless frontier for international companies trying to do business. Trump’s threatened tariffs are meant to effect change in China, … [Read more...] about Donald Trump’s China tariffs make sense
Hong Kong (CNN)When Victor Gao was growing up in rural China in 1970s, cars and trucks were so rare he would chase them with the other children through the dirt roads, overjoyed by the strange sight. Today, China is the world's largest automobile manufacturer, with more than double the capacity of the United States. "I never expected that an ordinary Chinese family would own an automobile. I never expected China would be a major automobile manufacturing country," Gao told CNN. "It would be completely beyond my wildest dreams that China would produce more automobiles than the US." December 18 marks four decades since China kickstarted a process which would transform it from a poverty-ridden country into an economic superpower. Read More This era of massive change is known broadly as "Reform and Opening." A view of the Chinese city of Shenzhen in 1982 compared with today. When powerful Chinese politician and future leader Deng Xiaoping addressed the Communist Party … [Read more...] about China sparked an economic miracle — now there’s a fight over its legacy