Setting up a new joint secretariat could be key to keeping engagement between the world's leading economies on track.
U.S. and Chinese officials meeting during the second U.S.-China Diplomatic and Security Dialogue, at the State Department in Washington, November 9, 2018. Credit: Ministry of National Defense
The telephone rang and rang in Beijing on February 4, 2023. U.S. Defense Secretary Lloyd Austin was attempting to call China’s defense minister, Wei Fenghe, to explain why two American F-22 fighter jets had been dispatched to shoot down an errant Chinese surveillance balloon off the coast of South Carolina. Minister Wei (who has subsequently been replaced by Li Shangfu) never took the call. His spokesperson claimed that a hyper-reactive U.S. had not created “the proper atmosphere” for
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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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