How China Won Trump s Trade War And Got Americans To Foot The Bill Donald Trump famously tweeted that trade wars are good, and easy to win in 2018 as he began to impose tariffs on about $360 billion of imports from China. Turns out he was wrong on both counts.
Updated: January 12, 2021 7:07 pm IST
Compared with tariffs, an escalating conflict over technology is of more concern to China
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U.S. President Donald Trump famously tweeted that trade wars are good, and easy to win in 2018 as he began to impose tariffs on about $360 billion of imports from China. Turns out he was wrong on both counts.
HONG KONG/BEIJING (Jan 12): US President Donald Trump famously tweeted that “trade wars are good, and easy to win” in 2018, as he began to impose tariffs on about US$360 billion of imports from China. Turns out he was wrong on both counts.
China Telcos Rally as Mainland Funds Buy Record Hong Kong Stocks
Bloomberg 1/11/2021 Jeanny Yu and Felix Tam
(Bloomberg) Having slumped under the weight of a U.S. executive order, China’s three major telecommunications companies are on the rebound in Hong Kong supported by a record inflow of mainland cash.
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Mainland traders bought a record HK$19.5 billion ($2.5 billion) of Hong Kong stocks through trading links Monday, according to data compiled by Bloomberg. China Mobile Ltd. led the gains for the country’s wireless majors, rising 5.8%. Its shares, along with those of China Telecom Corp. and China Unicom Hong Kong Ltd. declined last week as index firms said they’d remove them from their gauges to comply with U.S. sanctions, and the New York Stock Exchange said it would delist them.
China Daily Global / 2021-01 / 11 / Page006
Chinese chipmakers eye global glory By CHENG YU | China Daily Global | Updated: 2021-01-11 00:00 Amid sanctions and uncertainty, domestic firms ride policy support for self-reliance
This year is likely to prove fruitful for Dou Qiang. The president of Tianjin Phytium Information Technology Co Ltd, a Chinese manufacturer of server chips or integrated circuits (ICs), has been busy answering incessant phone calls from prospective customers desperate to receive supplies of chips. Demand for chips manufactured by Chinese companies has been very intense these days. The number of buy orders had already hit a record high at the beginning of last year, Dou said.
This time, it s due to a lack of semiconductors.
It s not just the US that s seen a surge of novel coronavirus cases in recent months; numerous countries around the world are all experiencing the same worrying trend as the northern hemisphere experiences its winter season. At the same time, demand for products such as consumer electronics has started to bounce back, creating a shortage of semiconductor chips that s roiling the automotive industry.
Reuters reports that Fiat Chrysler, Ford, and Toyota have all announced temporary North American plant closures or production slowdowns due to the shortage of chips, prioritizing lower-profit or lower-volume vehicles in an effort to spare their most money-making vehicle lines.