Earlier this month, China’s economic tsar, Liu He, took the stage at the World Economic Forum in Davos like a salesman delivering a carefully practiced pitch. With thinning gray hair and reading glasses, the 71-year-old Harvard graduate methodically laid out for the audience how to better understand the Chinese economy.
“Entrepreneurship is a key factor for wealth creation of a society,” Liu said. “Therefore, entrepreneurs, both Chinese and foreign, will play an important role as the
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Walmart should be in trouble in China, where its competitors are in retreat and its sourcing operations have been criticised by both Beijing and Washington. But the American retailer seems to have found a way forward in a difficult sector and remains one of the biggest benefactors of China-U.S. trade.
The Commerce Department wants to expand export controls to majority-owned subsidiaries of Chinese companies. That could trigger cascading effects — and challenges.
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