Global Impact: Chinese-owned social media platform TikTok is facing a ban in the US as China hits back at ‘never-ending cycle’
- Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world
- In this week’s issue, we look to keep up with the complex and ever-evolving US-China relationship, with a particular focus on Washington’s moves to ban video-sharing app TikTok
Several years and multiple congressional hearings later – after Trump tried unsuccessfully to force ByteDance to sell the property – it now has around 170 million American users.
US-China all-out trade war unlikely but soft-power gap will persist: Joseph Nye
Congress is also moving to bolster restrictions.
As Washington cracks down on Chinese businesses, lobbyists come under fire
60-Second Catch-up
Deep dives
US-China all-out trade war unlikely but soft-power gap will persist: Joseph Nye
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Global affairs expert Joseph Nye shares his assessments of what China has done right, and what will hold it back
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In terms of economic challenges, ‘we should not exaggerate the China threat’, Nye says
You are most well known in China for your book on soft power and even former Chinese president Hu Jintao mentioned it in the 17th party congress report. China has invested heavily in expanding its soft power and President Xi Jinping has told officials to “tell the China story well”. How do you comment on these efforts? What are the achievements and what are the failures, and why?
As Washington cracks down on Chinese businesses, lobbyists come under fire
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Concerns about Beijing’s potential to threaten US national security have spurred several bills seeking more scrutiny about who is representing Chinese interests
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Weeks after one list of Chinese companies and their lobbyists circulates on Capitol Hill, several firms drop their clients, including DJI and Hesai Tech
In early February, a list made the rounds among Capitol Hill staffers. It named several Chinese companies and their Washington lobbyists, as well as the federal “entity lists” – which prohibit those entities from doing business in the US – that included those companies.
Titled “Buying Influence in Washington: The Top Firms Lobbying for China”, the list – it was unclear who had compiled it – highlights some big players in the Washington lobbying scene. These included the Vogel Group and Avoq, retained by Chinese drone maker DJI; Akin Gump Strauss Hauer & Feld and Brownstein Hyatt Farber Schreck, retained by lidar maker Hesai Tech; and Steptoe & Johnson, retained by biotech firm BGI Group.
How far did Janet Yellen’s trip move the ball for US-China relations?
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US Treasury Secretary Janet Yellen said the US had been able to ‘move the ball’ on key issues during her week-long trip to China
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Analysts said the trip focused on ‘practical short-term’ matters, including overcapacity concerns, money laundering and the mistreatment of US companies in China
The week-long trip to China by US Treasury Secretary Janet Yellen sidestepped core economic disputes, and without headway, analysts said the pressure of November’s presidential election could force the Biden administration “to be more aggressive” on the trade front.
‘America is rising’: Biden uses State of the Union to push contest with China
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Annual presidential address has Biden appearing vibrant and confident about US, including its partnerships and alliances in the Pacific
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Although Biden administration ‘tried to take the temperature down’ on China, the Beijing challenge allowed him to talk about his domestic agenda, says analyst
“We’re in a stronger position to win the competition for the 21st century against China, or anyone else for that matter,” he said, presenting a passionate case for a second term in the White House.
Why is Trump now defending TikTok in the US after trying to ban it?
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Ex-president’s U-turn coincides with recent meeting held with billionaire Republican megadonor who is deeply invested in parent company ByteDance
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About-face could hurt presumptive 2024 Republican presidential nominee who has long touted his toughness on China, analysts say
China’s 17-year run as top source of US imports ends as Mexico rises
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World’s second-largest economy also saw its share of American imports decline to 13.9 per cent in 2023, its lowest level in 20 years
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Total value of goods shipped from China to US fell by 20.3 per cent last year compared to 2022, as Mexico’s grew by 4.6 per cent
Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world.