Home>Top Issues

Beijing’s patience tested by comment from Ross

Sunday,Feb 05, 2017

From: South China Morning Post

Beijing’s patience tested by ‘most protectionist’ comment from Ross


 

Donald Trump’s pick for commerce secretary fires latest salvo at China

In the latest criticism targeting Beijing from US president-elect Donald Trump’s team, Wilbur Ross, the commerce secretary nominee, branded China the “most protectionist” major economy.

But mainland analysts said Beijing should avoid being drawn into making an immediate reaction as the comments were merely aimed at testing China’s bottom line.

Ross, 79, a billionaire private-equity investor, told Congress in confirmation testimony that America’s trade partners should practise “fair trade”, echoing Trump’s earlier statements that the US would take a tougher stance against China.

“We should not put up with malicious trading activities, state-owned enterprises or subsidised production,” he told the Senate Commerce Committee which will vote on his nomination.

Foreign business groups operating in China have long complained of discrimination, vague regulations that are selectively enforced and Beijing’s favouring of state-owned enterprises.

He Weiwen, deputy director of the Beijing-based Center for China and Globalization (CCG) and a former diplomat, said China faced challenges in treating foreign companies fairly and it would take time to restore their confidence.

Lester Ross, head of the policy committee at the American Chamber of Commerce in China said China was less dependent on foreign expertise than before and some businesses felt China was less welcoming.

“What we are asking for here is not a welcome or some extra benefits. What we are asking for is level playing field and fairness,” he said.

Trump has nominated Peter Navarro, a well-known hardline China critic, to lead the White House National Trade Council, while Robert Lighthizer has been picked to act as US trade representative.

Lighthizer was previously deputy trade representative during the Reagan administration in the 1980s and helped craft policies that curbed Japan’s exports to the US in the 1980s.

“The nominations and their remarks have already signalled a tougher trade policy approach against China under Trump’s presidency,” said He, who was economic and commercial counsellor at the Chinese consulate general in New York and San Francisco.

“China has its toolbox to counter extreme trade policies, but we have very little knowledge of Trump and we must collect any relevant information at any time,” said He. (By Wendy Wu)

From  South China Morning Post, 2017-1-19

  • Obama farewell speech

    For Obama’s legacy, The World Insight Beijing Studio is joining with Dr. Wang Huiyao, the President of the Center for China and Globalization (CCG) and the translator of Dreams from My Father (Writed by Barack Obama), Douglas Paal, Vice President of Carnegie endowment for international Peace and Timothy Hagle, Political Science Professor from University of IOWA in U.S., to sharing their opinions.

  • Long Yongtu: Beijing should play bigger role in global rule making

    By pledging to abide by WTO rules, China has increased its foreign trade on average by 22 percent a year during these years, while becoming a major destination for foreign investment. China has also benefited by abiding by international rules, and it will continue to participate in making global rules, as well as executing them.

  • Green channel boosts options for expats

    An innovative plan will see Beijing further embrace foreign expertise as it pilots a green channel for expats seeking permanent residency and makes them more attractive offers to serve various industries.

  • China set to play bigger role in multilateral trade system

    The 11th WTO Ministerial Conference, which closed in Argentina on Thursday, faced challenges due to some countries like the US trying to go back to bilateral trading mechanisms, said experts from the Beijing-based Center for China and Globalization (CCG) at a meeting in Beijing.

  • China opens its job market to foreign postgraduates

    In China, there is a big debate going on about the real economy and the virtual economy. Some say the real economy is shrinking because of the expansion of the digital economy, and even ask for more supervision of online operations by the government; those in the virtual economy argue that the lack of innovation and reform is what’s hurting the real economy. China’s Primer Li Keqiang has said, these economies need to be combined to promote the economic development in China, but high costs in the real economy remain an issue. Finding the way to get the balance right is an ongoing challenge.