Tag: tensions

Xi and Biden to try to ease tensions as Taiwan looms over US-China talks

Joe Biden and Xi Jinping are expected to hold frank talks about Taiwan when the US and Chinese presidents meet in San Francisco on Wednesday in a renewed effort to stabilise relations between the two powers.

One year after their first meeting as leaders — at the G20 summit in Bali, Indonesia — Biden and Xi will resurrect attempts to halt the steep deterioration in ties, which are in their worst state in four decades. Their effort a year ago was derailed when a suspected Chinese spy balloon flew over the US in February.

In recent months, the sides have resumed top-level engagement, including a visit by secretary of state Antony Blinken to Beijing and a reciprocal trip to Washington by foreign minister Wang Yi.

Washington has welcomed the engagement, but US officials stressed that the summit would not produce big agreements, particularly as tensions remain high over Taiwan, which holds a presidential election in January.

“We’re not talking about a long list of outcomes,” said one US official. “The goals here really are about managing the competition, preventing the downside risk of conflict and ensuring channels of communication are open.”

The official said the combination of Taiwanese and US elections next year meant 2024 could be “bumpy” for US-China relations, reinforcing the need for top-level communication.

They added that Biden would reaffirm the “one China” policy — in which the US recognises Beijing as the sole government of China but only acknowledges its assertion of sovereignty over Taiwan — while making clear to Xi that Chinese political interference in Taiwan’s election “would raise extremely strong concerns”.

Rick Waters, who until August was the US state department’s top China official, said both leaders wanted to prevent a further slide in relations “at the lowest possible cost”.

“The question is how

Xi Jinping To Address American Business Leaders Amid US-China Tensions

Xi Jinping

Chinese President Xi Jinping is expected to have dinner with American business leaders on Wednesday. (File Image)

Photo : AFP

Chinese President Xi Jinping is expected to have dinner with American business leaders on Wednesday in San Francisco. This is part of his efforts to court American companies and counter his nation’s recent struggles to attract foreign investment.

The dinner on the margins of the Asia-Pacific Economic Cooperation (APEC) forum will follow a day of talks between Xi and US President Joe Biden, intended to calm tense relations between the two biggest economies in the world.

American businesses will have the opportunity to speak with China’s leader directly, as they look for strategies to deal with China’s economic slowdown, the US push to de-risk some American supply chains away from China, and the uncertainty brought on by growing Chinese security regulations. “The purpose of the dinner is to foster better communication,” one source close to the organisers told Reuters. Declining to say who would speak while confirming representatives from both the Chinese and U.S. governments would share the podium.

But the event is yet to be formally announced by hosts US-China Business Council (USCBC) and the National Committee on US-China Relations (NCUSCR), also presents uneasy optics. According to event notifications seen by Reuters, some US firms will pay tens of thousands of dollars to hear a Chinese state leader from a government that Washington has accused of genocide against Muslim Uyghurs.

The US-China Business Council and the National Committee on US-China Relations both declined to comment on the planned dinner. China’s embassy in Washington also did not respond to a request for comment. For years, business and trade has been at the centre of US-China relations, helping to fuel China’s economic resurgence and offering what Beijing has often described as

Canada-India tensions jeopardizing trade | CTV News

TORONTO –


The escalating tension between Canada and India is jeopardizing delicate trade and investment relationships that the two sides have been working for years to advance, business leaders said.


On Monday, Prime Minister Justin Trudeau accused India of being involved in the killing of a man wanted by authorities in that country. Hardeep Singh Nijjar, a Sikh activist and Canadian citizen, was gunned down in June outside a Sikh temple in suburban Vancouver.


The situation escalated in the following days, with both sides engaging in a diplomatic tit-for-tat by expelling one another’s representatives. India has also temporarily halted all visa services for Canadian citizens.


Victor Thomas, president and CEO of the Canada-India Business Council, said this country has been trying to grow its trade relationships with India, which is the world’s biggest country by population and the world’s fastest-growing large economy.


Now, trade talks are being affected as the two countries face off, with Canada’s trade minister postponing a planned October mission to India.


Business likes stability and predictability, said Thomas. This is anything but.


“In the midst of all this … we’re trying to see, you know, where things land and how we can actually navigate into the future.”


Just a few weeks ago, Thomas said Canadian business leaders had high hopes that Ottawa and India could ink an Early Progress Trade Agreement (EPTA), widely seen as an important step en route to a broader Comprehensive Economic Partnership Agreement (CEPA).


Negotiations for a deal covering specific industries began in 2010, were put on hiatus for five years and finally resumed in 2022, but Canada paused the process once again at the beginning of this month. The news was met with surprise and concern from the business community, with Saskatchewan

Foreign firms in China say vague rules and tensions with Washington hurting business, surveys show

Foreign companies operating in China say tensions with Washington over technology, trade and other issues and uncertainty over Chinese policies are damaging the business environment and causing some to reassess their plans for investing in the giant market.

The results of surveys released Tuesday by the American Chamber of Commerce in Shanghai and by the European Union Chamber of Commerce in China largely concurred in appealing for greater certainty and clarity over China’s stance toward foreign businesses.

“For decades, European companies thrived in China, benefitting from a stable and efficient business environment. However, after the turbulent past three years, many have reevaluated their basic assumptions about the Chinese market,” Jens Eskelund, the EU Chamber’s president said, in a letter that accompanied the report.

Eskelund said that predictability and reliability had been undermined by “erratic policy shifts,” hurting confidence in China’s growth prospects.

“At the top of a growing list of questions about the Chinese market is, what kind of relationship does China want to have with foreign enterprises?” he said.

The Shanghai AmCham’s survey showed a continued downgrading of China’s importance as an overseas destination for investment, even though two-thirds of the 325 companies responding said they had no immediate plans to change their China strategy.

Just over one in five of the companies surveyed said they were decreasing their investment in China this year, with the top reason being uncertainty about the U.S.-China trade relationship, followed by expectations of slower growth in China, it said.

Overall, the survey showed sentiment worsened from last year, when companies were embroiled in disruptions from “zero-COVID” policies that caused parts of entire cities, transport networks and travel to be shut down, sometimes for weeks at a time.

Such disruptions were a major “push factor” that companies cited in expanding their operations outside China,

U.S. firms in China say vague rules, tensions with Washington, hurting business, survey shows

American companies operating in China view tensions with Washington over technology, trade and other issues as a major hindrance for their businesses there, according to a survey by the American Chamber of Commerce in Shanghai.

The survey released Tuesday showed a continued downgrading of China’s importance as an overseas destination for investment, even though two-thirds of the 325 companies responding said they had no immediate plans to change their China strategy.

Just over one in five of the companies surveyed said they were decreasing their investment in China this year, with the top reason being uncertainty about the U.S.-China trade relationship, followed by expectations of slower growth in China, it said.

Overall, the survey showed sentiment worsened from last year, when companies were embroiled in disruptions from “zero-COVID” policies that caused parts of entire cities, transport networks and travel to be shut down, sometimes for weeks at a time.

Such disruptions were a major “push factor” that companies cited in expanding their operations outside China, the survey showed.

While 52% of those surveyed said they were optimistic about their five-year business outlook in China, that was the lowest figure since the American Chamber of Commerce in Shanghai began the annual survey in 1999.

Nearly nine in 10 companies said rising costs were a big challenge.

Companies named geopolitical tensions as a major concern, followed by an economic slowdown that has foiled hopes for a strong, post-pandemic boom.

Intensifying competition has also been worsened by policies that favor local companies over foreign ones and courts that tend to favor Chinese companies in decisions on protection of intellectual property such as patents and trademarks.

Companies face a growing threat from “nimble, innovative local businesses and state-owned enterprises, which have enjoyed stronger support in recent years and whose consolidation has made them increasingly

US-China relations: Gina Raimondo’s ‘reality check’ in China seen paving way for Xi-Biden meeting as tensions persist

US Commerce Secretary Gina Raimondo’s visit to China will set the stage for top-level leadership meetings and serve as a “reality check” on American business in China’s struggling economy, according to Chinese analysts.

Raimondo’s trip, from Sunday to Wednesday, would make her the latest US official dispatched to China since June, in a sign that stalled high-level visits between the world’s largest economies are resuming amid growing tensions stemming from geopolitical wrangling.

Geopolitical experts also see her visit as another step toward a meeting between presidents Xi Jinping and Joe Biden in San Francisco on the sidelines of the Asia-Pacific Economic Cooperation (Apec) Leaders’ Meeting in November.

Yet, Raimondo’s China itinerary appears different from those of previous US officials, as it includes a stop in Shanghai along with Beijing, where she is expected to meet high-ranking officials.

From Raimondo to deflation: 4 things to look for in China’s economy in August

A source with knowledge of Raimondo’s trip told the Post that she will meet with the Shanghai party secretary and the American Chamber of Commerce in Shanghai, along with visits to New York University Shanghai and, tentatively, Shanghai Disneyland.

Shanghai is China’s commercial capital for foreign investment and where more than 1,000 American companies are registered with AmCham Shanghai.

“[It is] a fairly light schedule from a policy standpoint, which suggests her visit is to reinforce stable US-China communications ahead of the upcoming Apec meeting,” the source said on condition of anonymity.

Pang Zhongying, a chair professor in international political economy at Sichuan University in Chengdu, said Raimondo’s trip comes at a time when American business could be shifting away from China due to political and economic concerns.

“Her stop in Shanghai means she will engage with major American business representatives in China, to understand how they

How high U.S.-China tensions are impacting American companies : NPR

Commerce Secretary Gina Raimondo is set to become the latest government official to travel to China amid rising tensions between the two countries. The worsening relations are leaving American companies facing an uncertain environment.

Pool/Getty Images


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Commerce Secretary Gina Raimondo is set to become the latest government official to travel to China amid rising tensions between the two countries. The worsening relations are leaving American companies facing an uncertain environment.

Pool/Getty Images

Tensions between China and the U.S. are running high — and that’s leaving American companies having to carefully navigate their approach to a key player in the global economy.

The uncertainty U.S. businesses are facing is getting increased attention this week as Commerce Secretary Gina Raimondo is set to become the latest senior official to visit Asia’s largest economy.

Raimondo’s trip, which is scheduled from Sunday to Wednesday, comes at a tricky moment. On top of the trade tensions with the U.S., China is facing a slowing economy.

Here’s a look at how American companies are currently approaching China.

Tensions are having a ‘chilling’ effect

Even before tensions increased between the two countries, U.S. companies’ perceptions of China had already taken a hit.

The Trump administration had imposed a number of tariffs on China. And then China implemented a “zero-COVID” policy that was disorienting and disruptive for global companies. Travel within, and to and from, China was all but impossible, and lockdowns disrupted manufacturing and trade.

Companies like Apple, for example, faced delayed shipments as lockdowns disrupted their operations in China.

A resident looks through a hole from inside a locked-down area in Beijing on June 30, 2022. China implemented a “zero-COVID” policy that was disorienting and disruptive for global companies.

Lintao Zhang/Getty Images


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Janet Yellen to visit China in new US push to ease tensions

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US Treasury secretary Janet Yellen will visit China this week, becoming the second Biden cabinet official to travel to Beijing as the countries boost efforts to stabilise their turbulent relationship.

Yellen will spend four days in Beijing for meetings with top Chinese officials and US business leaders, according to a senior Treasury official, who cautioned that the trip was unlikely to produce “significant breakthroughs”.

The Treasury secretary will arrive in Beijing on Thursday, China’s finance ministry confirmed. She is not expected to meet President Xi Jinping.

Her trip comes just weeks after secretary of state Antony Blinken visited China with the hope of resurrecting efforts to set a “floor” under the relationship, which remains in its worst state since the countries established diplomatic ties in 1979.

The trips by Yellen and Blinken follow an agreement reached between Joe Biden and Xi in Bali in November that was derailed after a suspected Chinese spy balloon flew over the US early this year.

“Through this trip, we seek to deepen and increase the frequency of communication between our countries moving forward and to stabilise the relationship to avoid miscommunication and expand collaboration where we can,” said the Treasury official.

They added that Yellen planned to discuss the three pillars of the US-China economic relationship that she outlined in a speech in April. Yellen said at the time that the US would secure its national security interests, including human rights, but was not using security tools to gain competitive economic advantage.

She added that Washington wanted a healthy economic relationship with China but would respond to its “unfair economic practices”, stressing that the US sought co-operation on global challenges such as

Bill Gates meets privately with Xi Jinping as US-China tensions rise


Hong Kong
CNN
 — 

Bill Gates and Xi Jinping met Friday, marking the Chinese leader’s first known one-on-one meeting with a Western business figure in years.

Gates, the co-founder of Microsoft

(MSFT)
and world’s fifth-richest man, is in Beijing this week for his first trip to the Chinese capital since 2019, before the pandemic.

During their meeting, Xi called on Gates to help promote US-China relations, greeting the tech tycoon warmly. “I am very happy to see you. We haven’t seen each other for more than three years … and you are an old friend of ours,” Xi said, according to Chinese state media.

Xi went on to tell Gates that he was “the first American friend I’ve seen this year.”

“I always believe that the foundation of the US-China relationship is in the people. I am placing my hope in the American people,” the Chinese leader was quoted as saying.

Microsoft co-founder Bill Gates meeting with Chinese leader Xi Jinping in Beijing on Friday.

The billionaire’s latest visit comes at a precarious time for US-China relations. Tensions are running high over the future of AI and advanced semiconductors, raids by Chinese officials on international companies, and heightened fears that China could attack Taiwan.

This is not the first time Xi has called on American business leaders to help improve relations between their two countries. In 2021, Xi wrote to Starbucks

(SBUX)
’ former chairman and CEO Howard Schultz, suggesting he help promote bilateral ties, according to Chinese state media.

Gates’ meeting with the leader of the world’s second largest economy came a day after his family’s foundation pledged $50 million toward research in China for drug discovery and treatments of “infectious diseases such as tuberculosis and malaria, which disproportionately affect the world’s poorest,” according to a statement from the Gates Foundation.

The entrepreneur is one of the premier foreign business leaders who have