Andy Xie, former Morgan Stanley Director and Chief Asia-Pacific Economist, predicts what the future of US-China relations hold.
Chinese investment around the world is plummeting due to recipient reluctance and difficulty in getting money out of the country. Will the trend last?
The relationship between China and the US has been deteriorating further in the past months with escalated confrontational rhetoric and actions—some of them military—by both sides. While hopes for the world’s two largest economies to work together amicably are fading for the foreseeable future, the two need to find a way to live together for the good of everyone on the planet.
The rollout of 5G is making global headlines, with everyone now wanting to connect to the internet with the new technology, and China is at the forefront. How is the race shaping up?
Given their ongoing differences, what will the future of China-US relations look like? After more than 40 years of growing ties, the economies of China and the US are now deeply intertwined, and decoupling to any degree would mean a disentangling of enormous complexity.
China has approved five new varieties of genetically modified crops for import, highlighting the huge impact Chinese GMO restrictions have on the global agricultural sector. Is Beijing planning to relax its near-total ban on GMO?
October 27 of 2018 was supposed to be a historic day for China’s growing aerospace industry. Landspace, a Beijing-based startup, was set to become the first private Chinese firm to launch a rocket into outer space. Then, at 6:40 pm, a fault occurred. Soon after, Landspace declared the mission a failure. A few weeks later, SpaceX completed its 20th successful launch of 2018. It is unfair to draw sweeping conclusions based on the performance of just two companies, but it does serve as a reminder of how far China has to go before it rivals the US as the world’s leading technological power.
The Sino-US trade tussle has had the greatest impact on multinational corporations in China—precisely the group that the US started out trying to support. Many have begun considering radical courses of action to stay in business.
For China’s technology sector, the decision of the United States to hit Shenzhen-based telecommunications giant ZTE with a trade ban in April was an abrupt and painful wake-up call. Until then, many in China had grown accustomed to thinking of their country as a global leader in technology. After all, China’s smartphones, high-speed railways and e-commerce platforms were the envy of the world. But in the days following the ban, designed to punish ZTE for violating US sanctions on Iran and North Korea, it became clear that one of China’s most successful companies was totally dependent on American suppliers.
China played a surprisingly prominent role in debates surrounding the UK’s 2016 referendum on leaving the EU. For leading “Leavers”, Brexit was a chance for Britain to free itself from a stifling Brussels bureaucracy and build stronger trade relations with upcoming powers like China. But those expecting a blossoming in China-UK relations after Brexit might be disappointed, says Leslie Young, Professor of Economics at CKGSB. Professor Young, who received a doctorate in mathematics from Oxford University in 1971, at the age of 20, and who is now a recognized authority in international economics, explains how Chinese business is likely to be affected by Brexit.