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Market Talk – June 9, 2021 | Armstrong Economics


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ASIA:
China has denounced a US Senate bill worth approximately $250bn that aims to boost American technology and manufacturing prowess as an example of the US hyping up “the so-called China threat,” and accused Washington of attempting to hinder its development. The Senate on Tuesday overwhelmingly approved the Innovation and Competition Act. The expansive legislation, passed by 68-32 votes, combines various China-related measures into what analysts have called the biggest piece of US industrial policy legislation in decades. Analysts said the passage of the bill reflected the reality of the US-China bilateral relationship, which has been in a downward trend since Joe Biden’s predecessor, Donald Trump, took power in 2017. ....

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