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CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week16 | 2021

week16 | 2021

CGCC News
What to Expect From Recruiters - Comrise Survey
In April 2021, CGCC member Comrise shared a survey with job seekers, asking for their expectations for the recruitment a...
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Inc. Magazine Ranks Brio Benefit Consulting One Of Metro New York City’s Fast-Growing Companies
NEW YORK, NY – Inc. magazine has named Brio Benefit Consulting to its second annual Inc. 5000 Regionals: New York City M...
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Central Bank Will Begin Reducing Bond Purchases ‘Well Before’ Raising Interest Rates, Powell Says - WSJ
Federal Reserve Chairman Jerome Powell said Wednesday that the central bank will begin to slow the pace of its bond purchases “well before” raising interest rates.
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Sales Boom May Be More Than Fleeting Flurry - WSJ
The big question on the economy is no longer whether demand is going to boom in the months ahead, but how long that boom will last. The answer will dictate everything from how quickly the job market recovers to how high inflation goes to how soon the Federal Reserve begins tightening policy. It will also influence which investments will make money and which will not.
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China's economy grows 18.3% in post-Covid comeback - BBC News
China's economy grew a record 18.3% in the first quarter of 2021 compared to the same quarter last year. It's the biggest jump in gross domestic product (GDP) since China started keeping quarterly records in 1992.
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China’s Economy Is Still Dependent on Housing and Exports - WSJ
The world’s second-largest economy kept chugging along in early 2021 with the help of some familiar drivers: housing and exports. A dip in the latter last month will probably prove temporary. But increasing regulatory ire could weigh on China’s housing market—and industrial metal prices—in the second half. Aside from housing, durable signs of strong domestic demand remain relatively scarce.
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In Battle With U.S. for Global Sway, China Showers Money on Europe’s Neglected Areas - WSJ
DUISBURG, Germany—The struggle between the U.S. and China for global influence has come to Europe’s gritty industrial backwaters, where China is steadily co-opting local economies starting with their railroads.
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Import prices jump 1.2% in March and add to rising U.S. inflation
The cost of imports surged in March for the fourth month in a row and added to growing inflationary pressures in the U.S., as a resurgent economy spawns strong demand for a host of goods ranging from lumber to computer chips to new cars.
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U.S. issues subpoena to Chinese company as part of supply chain review - Reuters
The U.S. Commerce Department said on Tuesday it had issued a subpoena to an unnamed Chinese company as part of the Biden administration’s review of its supply chain for any risks posed to U.S. national security.
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Inflation Accelerated in March Due to Strengthening Economy, Rising Energy Prices - WSJ
U.S. consumer prices rose sharply in March as the economic recovery gained momentum, marking the start of an expected monthslong pickup in inflation pressures.
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U.S. Climate Envoy to Arrive in Shanghai for Meeting With Chinese Counterpart - WSJ
U.S. special climate envoy John Kerry is set to become the first Biden administration official to visit China, arriving in Shanghai for three days of meetings with senior officials overseeing climate and foreign policy, according to people familiar with the matter.
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Jay Powell says US economy is at an ‘inflection point’ | Financial Times
Fed chair sees hiring and growth set to accelerate but a new Covid-19 surge could still derail recovery
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Raw Materials Prices Have Surged. Corporate Profits Are Likely Next. - WSJ
Prices are surging for raw materials, leading to higher costs for companies from home builders to clothing makers.
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China’s Message to America: We’re an Equal Now - WSJ
President Xi is confronting the Biden administration with a new world view, that Beijing’s decades of not challenging the U.S. as global leader are over
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U.S. Faces Uphill Climb to Rival China’s Rare-Earth Magnet Industry - WSJ
Businesses and governments across the West are gearing up to counter China’s dominance in a key component of modern technology: the magnet.
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China’s Covid-19 Vaccination Campaign Gets Off to Slow Start - WSJ
HONG KONG—A year after Covid-19 swept through China, the virus is under control. Now authorities have to motivate a population that feels little urgency to get vaccinated by using a mix of social pressure, incentives, education and coercion.
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With Economy Poised for Best Growth Since 1983, Inflation Lurks - WSJ
Ronald Reagan was in the White House, “Return of the Jedi” was in theaters, and economic growth hit an astonishing 7.9%.
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week15 | 2021

week15 | 2021

CGCC News
US-China Market Watch: Alaska Trade Meeting, Digital Yuan, Alibaba to Sell Off Media Assets
East West Bank's monthly roundup of the latest US-China business and industry news.
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After Covid-19, Office Leases Largely Come With Bargain Rates - WSJ
Big companies are making plans to stick with city-center office buildings, but they are cutting back on space and driving down rent prices for years to come, according to an analysis of U.S. office leasing trends prepared for The Wall Street Journal.
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Investors Sour on Emerging Markets as U.S. Prospects Brighten - WSJ
Pressure is building in some emerging markets as brightening U.S. growth prospects prompt investors to pull capital out of economies that look less robust.
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Biden should summon the courage to reverse course on China | Financial Times
Donald Trump’s hardline policies served only to strengthen Xi Jinping and the communist system
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IMF Lifts Global Growth Forecast for 2021 to 6% - WSJ
WASHINGTON—The global economy is likely to expand this year at the fastest pace in at least four decades as vaccine rollouts accelerate and advanced economies spend aggressively to counter the Covid-19 pandemic and related lockdowns, the International Monetary Fund said Tuesday.
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G-20 to Seek Agreement on Global Minimum Tax Rate by Mid-2021 - WSJ
Finance ministers from the Group of 20 leading economies Wednesday said they hope to agree on a minimum tax rate for company profits by the middle of this year as part of a wider overhaul of the way international businesses are taxed.
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Violence Spurs Many Asian-Americans to Activism for First Time - WSJ
Atlanta spa shooting deaths and rising reports of hate crimes during pandemic have pulled in families who had avoided discussing race
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China's New Rules Worry Foreign Banks and Companies - The New York Times
New rules, aimed at taming big money flows and possibly controlling the Chinese currency, could give domestic rivals a competitive edge and make international firms more dependent on local lenders.
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White-Hot Stock Rally Masks Mammoth Value Swings - WSJ
Explosive moves in individual stocks and sectors are underpinning a white-hot streak in the market.
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Janet Yellen calls for global minimum corporate tax | Financial Times
Treasury secretary seeks to reassert US leadership in international economic policy
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U.S. Stocks Climb to Records on Signs of an Economic Rebound - WSJ
The Dow Jones Industrial Average and S&P 500 surged to records on Monday as a strong jobs report and data showing a rebound in the services sector cheered investors hoping for a robust economic recovery.
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China Creates Its Own Digital Currency, a First for Major Economy - WSJ
A cyber yuan stands to give Beijing power to track spending in real time, plus money that isn’t linked to the dollar-dominated global financial system
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The Housing Market Is Crazier Than It’s Been Since 2006 - WSJ
Less than a day after real-estate agent Andrea White listed a three-bedroom home for sale in Sacramento, Calif., in March, she received an all-cash offer. The buyer—who had not even seen the home in person—was ready to pay $520,000, Ms. White said. That was $21,000 above the asking price and 37% more than the seller had paid for the ranch-style home only two years ago.
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What the U.S. Can Learn From China’s Infatuation With Infrastructure - WSJ
Beijing’s building boom inspires awe in even the staunchest U.S. critics, but emulating it is a different story
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Nations Begin to Shape Post-Covid-19 Economy Amid Diverging Fortunes - WSJ
WASHINGTON—The world’s top economic officials plan to focus at a virtual meeting this week on the prospect of new Covid-19 variants and shutdowns undermining the global rebound, while weighing measures to prevent lasting damage to the poorest and most vulnerable populations.
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week14 | 2021

week14 | 2021

CGCC News
What the Financial Services Industry Can Expect From State Attorneys General in a Biden Administration
State attorneys general have become significant players in the financial world, using a number of special investigative ...
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Combating Anti-Asian Racism Resources
Throughout the past year, our communities in the United States and elsewhere in the world have faced extraordinary chall...
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U.S. Home Prices Rise at Fastest Pace in 15 Years - WSJ
U.S. home prices are rising at the fastest pace in 15 years, reflecting how fiercely buyers are competing for a limited supply of homes in nearly every corner of the country.
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Even Suez Canal Blockage Can’t Hold Back Red-Hot Global Trade - WSJ
Factories around the world are struggling to keep up with soaring demand for all types of goods as the global economic recovery from the pandemic accelerates.
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拜登的2.3万亿美元基建计划将惠及哪些行业? - 华尔街日报
美国总统拜登的2.3万亿美元基建计划涉及一系列美国企业和行业,其中不仅有汽车生产商、半导体制造商和光纤企业,也包括可再生能源生产商、药品开发商、房屋建筑商和建筑公司。
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China’s currency set for worst month since US trade war | Financial Times
Investors fear country’s post-Covid economic bounce will prompt withdrawal of stimulus
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Biden Calls for $50 Billion to Boost U.S. Chip Industry - WSJ
WASHINGTON—President Biden’s expansive infrastructure proposal includes $50 billion for the American semiconductor industry, whose lobbying efforts have gained momentum amid a global chip shortage and fears that China might be overtaking the U.S. in a critical technology.
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China’s Consumers Boost Its Economic Recovery - WSJ
BEIJING—China’s economic recovery picked up a surprising amount of steam in March, boosted by strong domestic consumption and unquenchable foreign demand for Chinese-made goods.
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Biden Says U.S. Adds New Covid-19 Vaccine Sites, Warns Against Complacency - WSJ
President Biden said Monday his administration is adding new vaccine sites, as he and other officials asked Americans to keep taking precautions and the head of the Centers for Disease Control and Prevention described a feeling of “impending doom” with Covid-19 cases rising recently.
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Man Is Arrested After Brutal Attack on Filipino Woman in N.Y.C. - The New York Times
Even as reports of anti-Asian hate crimes have escalated in recent weeks, the video released by police officials on Monday evening touched a fresh nerve. The sheer brazenness of the attack — combined with the seeming indifference of the bystanders — caused another wave of fear for many Asian-Americans already worn down by a steady drumbeat of assaults.
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President Biden will unveil his $2 trillion infrastructure plan today – CNBC
The plan Biden will outline Wednesday will include roughly $2 trillion in spending over eight years and would raise the corporate tax rate to 28% to fund it, an administration official told reporters Tuesday night, speaking on condition of anonymity in advance of the announcement.
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China and Iran sign 25-year agreement to expand ties | Financial Times
Beijing has become Tehran’s most important commercial partner as US sanctions have tightened
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China, Long a Source of Deflation, Starts Raising Prices for the World - WSJ
HONG KONG—Rising raw-materials costs and unrelenting supply-chain constraints are prompting many Chinese exporters to increase prices for the goods they sell abroad, raising fears it may add to global inflationary pressures.
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Biden’s China Challenge: Counter Its Perception of American Decline - WSJ
U.S. relations with China are a minefield of potentially explosive problems, yet the biggest risk is a subtle one: the danger that China overestimates the decline of U.S. power and acts accordingly.
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Hong Kong ‘Homecoming Listings’ Are All the Rage, but New York Is Still the Life of the Party - WSJ
U.S.-listed Chinese companies are flocking to go public in Hong Kong amid heightened political tension. But when it comes to trading, New York remains the place to beat.
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China Helped Rev Up, and Then Slow Down, the Global Commodities Boom - WSJ
A bull market in industrial metals that lasted nearly a year is faltering after China started unwinding economic stimulus, underscoring the pivotal role its state-led economy plays in global commodity booms.
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New Trade Representative Says U.S. Isn’t Ready to Lift China Tariffs - WSJ
WASHINGTON—The U.S. isn’t ready to lift tariffs on Chinese imports in the near future, but might be open to trade negotiations with Beijing, according to U.S. Trade Representative Katherine Tai.
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week13 | 2021

week13 | 2021

U.S.-Listed Chinese Stocks Fall Into Bear Market - WSJ
Fresh concerns about companies from China being kicked off American exchanges have helped push an index of U.S.-traded Chinese stocks into bear-market territory.
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Fed's Powell: Rates would move only after "all but full recovery" - Reuters
The Federal Reserve will not raise interest rates until a nearly complete recovery from the pandemic’s economic damage, Fed chair Jerome Powell said on Thursday, a process likely only relevant “in the longer run.”
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Biden Says U.S. Wants Competition, Not Confrontation, With China - WSJ
President Biden forecast “steep competition” with China and said his administration is teaming up with allies around the world to hold China accountable for violating international rules with its aggressive actions in the region.
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Chinese stocks turn from leader to laggard on tighter liquidity | Financial Times
China’s stock market has gone from global leader to laggard in the first three months of 2021, as expectations of tighter monetary policy spurred by an economic recovery from Covid-19 sap appetite for shares.
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Slow-Vaccinating Asia Is Squandering Its Economic Advantages - WSJ
As late as last autumn, suggesting that countries where Covid-19 outbreaks had been suppressed or controlled would suffer a longer-lasting shortfall in consumer demand than the U.S. would have seemed fanciful. It no longer does.
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Pandemic reveals weak links in global supply chain | Financial Times
Vaccine nationalism, Brexit and US-China tensions reflect a political environment more hostile to global trade
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US and EU to revive joint effort to handle more assertive China - Financial Times
The US and EU are poised to reboot a joint effort on how to handle an increasingly assertive China, days after working with the UK and Canada to impose sanctions on officials over human rights abuses in Xinjiang.
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Tech Stocks Led the Market Rally. Now They’re Falling Behind. - WSJ
A year after the U.S. stock market’s coronavirus-induced selloff, investors are trying to assess what comes next.
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Coronavirus Live Updates: More Than 25% of U.S. Has Received a Vaccine Dose - WSJ.com
Newly reported coronavirus cases in the U.S. rose slightly, while Covid-19 vaccination campaigns continued to ramp up, with more than a quarter of the country having received at least one dose.
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Biden’s $1.9tn stimulus set to return global economy to pre-Covid path | Financial Times
Manufacturers hope US consumers will spend their portion of relief package on imported consumer goods
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Biden Administration Officials Put Together $3 Trillion Economic Plan - WSJ
WASHINGTON—Administration officials are crafting a plan for a multipart infrastructure and economic package that could cost as much as $3 trillion and fulfill key elements of President Biden’s campaign agenda, according to people involved in the discussions.
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U.S., China Climate Envoys to Meet Despite Frosty Alaska Talks - WSJ
HONG KONG—The U.S. and China are tiptoeing toward cooperation on climate change despite recent and testy high-level talks, with the two governments’ chief climate envoys scheduled to come together for formal discussions this week.
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Bitter Alaska Meeting Complicates Already Shaky U.S.-China Ties - WSJ
ANCHORAGE, Alaska—High-level talks between the Biden administration and Beijing that veered into acrimony put the U.S.-China rivalry in sharp relief, complicating efforts by the two powers to erect guardrails and keep tensions from spiraling further.
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Covid-19 Vaccine Manufacturing in U.S. Races Ahead - WSJ
Covid-19 vaccine manufacturers are ramping up production, churning out far more doses a week than earlier in the year, progress that is accelerating mass vaccination campaigns in the U.S.
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CGCC Statement on Anti-Asian Violence
Today China General Chamber of Commerce – USA (CGCC-USA) is calling on all members of our community to join us in continuing to stand up against these vile attacks. Whether we are calling out bias and discrimination, supporting advocacy groups, or just taking time to educate ourselves on the benefits of diversity in our communities, we all play a role in breaking this cycle.
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week12 | 2021

week12 | 2021

CGCC News
PwC's 24th Annual Global CEO Survey
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USDA attache sees China 2021/22 soybean imports at 100 million tonnes - Successful Farming
Following are selected highlights from a report issued by the U.S. Department of Agriculture's ForeignAgricultural Service post in Beijing: "China's soybean imports are forecast to reach a record 100 million metric tons (MMT) in marketing year (MY) 21/22 and an estimated 99 MMT in MY20/21 to meet feed demand from the livestock and poultry sectors. "
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Fed's Powell: U.S.-driven global recovery could help lift laggards like Europe - Reuters
The U.S. economy appears set to leave other developed markets in the dust this year with the largest annual growth spurt in decades, new Federal Reserve forecasts indicate, but that divergence is not worrying to the central bank’s top official.
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China, U.S. Trade Barbs at First High-Level Talks Under Biden - WSJ
The U.S. and China began their first high-level meeting under the Biden administration with an acrimonious exchange of words, setting an abrasive tone as the two powers try to stabilize tense relations.
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Gasoline Demand Has Peaked, Global Forecaster Says - WSJ
The world’s thirst for gasoline isn’t likely to return to pre-pandemic levels, the International Energy Agency forecast, calling a peak for the fuel that has powered personal transportation for more than a century.
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Everywhere You Look, the Global Supply Chain Is a Mess - WSJ
Supply chain woes mounted world-wide for makers of everything from cars and clothing to home siding and medical needle containers, as the extreme Texas weather and port backlogs compounded problems for manufacturers already beset by pandemic disruptions.
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China Plans to Ask U.S. to Roll Back Trump Policies in Alaska Meeting - WSJ
Beijing plans to press Washington to reverse many of the policies targeting China introduced during the Trump presidency in the first face-to-face meeting of senior U.S. and China officials since President Biden’s election, according to people with knowledge of the plans.
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Fed poised to upgrade forecasts for US economic growth - Financial Times
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/3d7704d3-a312-4294-95bc-90233f469ccd The Federal Reserve is poised to upgrade its forecasts for the US economy on Wednesday, pointing to an acceleration of America’s recovery from the pandemic that will test the central bank’s willingness to maintain ultra-loose monetary policy in the years ahead. 
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Bolstered by allies, Biden officials take blunt message to first China talks - Reuters
The United States will take an uncompromising stance in talks with China on Thursday in Alaska, officials have said, in the first face-to-face meetings between senior officials from the two rivals since U.S. President Joe Biden took office.
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Biden Imposes His First Sanctions on Chinese Officials Ahead of Bilateral Meeting - WSJ
The Biden administration added new sanctions against two dozen Chinese officials it says have undermined Hong Kong’s partial autonomy from Beijing, signaling a continuing strong U.S. line on an issue that has contributed to fraying bilateral ties.
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Chinese Monetary Policy Looks Looser Than Advertised - WSJ
China’s industrial output and retail sales jumped by their most in more than a decade in the first two months of 2021: up 35% and 34% year-over-year respectively. Those are big numbers—but sadly, not very meaningful ones.
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Biden stimulus will boost global recovery from Covid, says OECD | Financial Times
US spending package forecast to add 1 percentage point to world’s economic growth this year
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Republicans Push Biden to Take Aggressive Stance Toward China - WSJ
WASHINGTON—As President Biden devotes himself to dealing with the coronavirus pandemic, Republicans are striving to elevate China policy as a top issue, pressuring him to take an aggressive stance as Americans’ opinion toward the global rival grows more negative.
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China Becomes First Major Economy to Start Withdrawing Pandemic Stimulus Efforts - WSJ
HONG KONG—As the first major economy to beat back Covid-19, China is now taking the global lead in moving to unwind its pandemic-driven economic stimulus efforts.
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White House Weighs How to Pay for Long-Term Economic Program - WSJ
WASHINGTON—The Biden administration is looking past its $1.9 trillion coronavirus relief bill and starting to consider how to pay for the next round of programs meant to bolster long-term economic growth with investments in infrastructure, clean energy and education.
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BioNTech Recruits Rivals to Boost Covid-19 Vaccine Production - WSJ
The maker of the West’s first Covid-19 vaccine is building a new manufacturing alliance that could throw Europe and the rest of the world a lifeline amid a painful shortage of shots and a rebound in infections.
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week11 | 2021

week11 | 2021

CGCC News
MoForecast: Predictions on National Security
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Biden directs all states to make all adults eligible for COVID-19 vaccine by May 1 - CBSNews
President Biden set a goal of July 4 to "get closer to normal" in reopening the country in his first prime-time address on Thursday night. To reach that goal, Mr. Biden said he would be directing all states to make all American adults eligible for the COVID-19 vaccine by May 1.
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Top U.S., China Officials to Meet Next Week in Alaska on Range of Issues - WSJ
Top U.S. and Chinese officials are set to hold talks next week in the first high-level in-person meeting between the two powers since President Biden took office, after months of deteriorating ties.
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Biden signs historic $1.9 trillion Covid-19 relief law - CNNPolitics
President Joe Biden signed his sweeping $1.9 trillion Covid-19 economic relief package into law on Thursday afternoon.
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For U.S. Farmers, China Is Back and Bigger Than Ever - WSJ
Record exports follow a painful trade war, but concerns remain: ‘We can’t just be reliant on one partner’
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Top US and China envoys to meet in Alaska next week | Financial Times
Gathering of senior diplomats from Beijing and Washington is the first under Biden
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China’s Rise Drives a U.S. Experiment in Industrial Policy - WSJ
American leaders have long trusted in private markets rather than the federal government to pick the economy’s winners and losers, shunning the industrial policy popular with France, Japan and others.
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U.S and China Engage, Tentatively, on Climate Change - WSJ
The U.S. and China are engaged in a confidence-building exercise that could show whether the world’s two largest economies can work together on shared priorities despite deep disagreements and a badly strained bilateral relationship.
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U.S. Senate panel chairman hopes for vote on China measures as soon as April - Reuters
Senator Bob Menendez, the chairman of the Senate Foreign Relations Committee, said on Tuesday he hoped the Senate could vote as soon as April on a sweeping bi-partisan package of legislation to address threats from China.
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U.S. House set for final approval of $1.9 trillion COVID-19 bill in early win for Biden - Reuters
President Joe Biden is poised on Wednesday for his first major legislative victory when the House of Representatives is expected to approve his $1.9 trillion COVID-19 relief package, which forecasters predict will turbocharge the U.S. economy.
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China M&A surges on Covid recovery as focus shifts inwards | Financial Times
Value of domestic deals at $77.5bn marks busiest start to a year on record
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U.S. Companies in China Say Political Tensions Remain Top Concern - WSJ
SHANGHAI—U.S.-China political tensions remain the top concern for American companies in China despite some optimism about the relationship improving under President Biden, according to companies surveyed by the American Chamber of Commerce in China.
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U.S. Growth Surge Could Unbalance Fragile Global Economy - WSJ
The U.S. will drive a sharp rebound in the world economy this year, but the strength of the American bounce could unbalance weaker economies, particularly in the developing world.
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China Targets AI, Chips Among Seven Battlefronts in Tech Race With U.S. - WSJ
SINGAPORE—China upped the stakes in its tech race with the U.S. as leaders laid out plans to speed up development of advanced technologies from chips to artificial intelligence and quantum computing over five years.
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U.S. Set to Power Global Economic Recovery From Covid-19 - WSJ
The U.S. could help drive a powerful global economic recovery this year, as it plays a more central role in the comeback than after the financial crisis, reflecting the unusual nature of the Covid-19 shock and the flexibility of the American economy.
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China Exports Resurgent a Year on From Covid-19 Doldrums - WSJ
BEIJING—China’s exports surged by more than 60% in the first two months of the year from last year’s coronavirus-induced lows, as demand in the U.S. and Europe for made-in-China goods continued to rebound.
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week10 | 2021

week10 | 2021

CGCC News
US-China Market Watch: Biden’s China Policy, China Online Lending Curbs, Lunar New Year Box Office
President Joe Biden is planning to focus on semiconductors, artificial intelligence and next-generation networks in U.S....
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Americans’ Views on China Go From Bad to Worse - WSJ
A series of recent U.S. public opinion polls show some of the frostiest views ever toward China and indicate growing support for the Biden administration to take tougher stands aimed at influencing Beijing’s behavior.
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China Sets 2021 GDP Growth Target at Over 6% - WSJ
Chinese leaders said they would target gross domestic product growth of 6% or more this year, a relatively modest goal that nonetheless signals continued optimism after a year in which the coronavirus eviscerated the global economy.
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Senate Advances Democrats’ Covid-19 Aid Bill - WSJ
Senate Democrats advanced a $1.9 trillion coronavirus relief package Thursday after making a series of adjustments related to student loans, infrastructure and other matters, with approval in the chamber expected within days.
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Support for Covid-19 Vaccine Passports Grows, With European, Chinese Backing - WSJ
Many international travelers will likely need to prove they are vaccinated or free of Covid-19 if they plan trips later this year, after the European Union and China both said they would move ahead with plans for “vaccine passports.”
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China Taps U.S.-Trained Former Central Banker for IMF Role - WSJ
SINGAPORE—Beijing is set to appoint a lawyer with deep U.S. experience as its top representative to the International Monetary Fund, according to people familiar with the decision, as it seeks to repair its relationship with Washington and gain a greater voice in the multilateral economic arena.
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After Crushing Covid-19 Last Year, These Countries Are Getting Left Behind in the Recovery - WSJ
Asian nations led the world in crushing Covid-19 in 2020. Now some are being hamstrung by border closures and other rules they imposed to stay safe, potentially putting them behind the U.S. and other countries in leading the global economic recovery.
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Fed officials emphasize policy 'patience' as outlook improves - Reuters
U.S. Federal Reserve officials, facing a potential bout of inflation this spring in an economy turbocharged by vaccines and government spending, on Tuesday said they will nevertheless keep their easy money plans in place in hopes of speeding displaced Americans back to work.
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Biden Expects U.S. to Have Covid-19 Vaccines for All Adults by End of May - WSJ
President Biden said the U.S. would have enough Covid-19 vaccines for all American adults by the end of May, two months earlier than he had previously said, after regulators authorized the one-shot Johnson & Johnson vaccine and Merck & Co. agreed to help produce it.
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Gina Raimondo Confirmed as Commerce Secretary - WSJ
Rhode Island Gov. Gina Raimondo won easy Senate confirmation for commerce secretary Tuesday, but faces big challenges ahead at an agency tasked with addressing Chinese trade and technology threats.
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IMF expects US and China to recover most strongly from virus economic hit | Financial Times
Fund predicts that Europe and emerging markets will be lagging behind in 2022
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Is Inflation a Risk? Not Now, but Some See Danger Ahead - WSJ
Though slack in the economy and a vigilant Fed currently keep prices well in check, some economists say political pressure and new emphasis on maximizing employment could test central bank’s resolve
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U.S. to Take Hard Line on Chinese Trade Practices, Administration Says - WSJ
WASHINGTON—The Biden administration said Monday it will use “all available tools” to respond to alleged unfair trading practices by Beijing as it conducts a comprehensive review of its trade policy with China.
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China Got Its Economy Growing Again, but a Shortfall in Babies Will Be Harder to Fix - WSJ
China may have blunted the pandemic’s impact on its economy, but a shortfall in babies is clouding its growth horizon.
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U.S. to Impose Sweeping Rule Aimed at China Technology Threats - WSJ
WASHINGTON—The Biden administration plans to allow a sweeping Trump-era rule aimed at combating Chinese technology threats to take effect next month, over objections from U.S. businesses, according to people familiar with the matter.
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China Lets Yuan Rise Steadily, Pressuring Exporters - WSJ
HONG KONG—China’s currency has continued to climb in value this year on the back of a strong economic recovery, and Beijing doesn’t appear to be in a hurry to weaken it despite the pressure it is putting on exporters.
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week9 | 2021

week9 | 2021

CGCC News
Third Wave of Paycheck Protection Program Loans
More financial relief may finally be within reach for organizations suffering from the economic impact of the COVID-19 p...
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Lessons Learned from OFAC’s 2020 Enforcement Actions
As we previously wrote in our OFAC 2020 Year in Review, the U.S. Treasury Department’s Office of Foreign Assets Control ...
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U.S. Stock Futures Choppy After Tech Selloff - WSJ
U.S. stock futures edged lower Friday, putting the S&P 500 on track for its worst week in a month following a sharp selloff in technology stocks.
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China confirms Xie Zhenhua appointed as new special climate envoy - Yahoo Finance
Xie Zhenhua, who served as China's chief negotiator during key climate meetings in Copenhagen and Paris, has been appointed the country's new special climate envoy, the environment ministry confirmed on Thursday.
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Global Trade Roars Back From Depths of Covid-19 Pandemic - WSJ
Global trade has rebounded from its collapse in the early stages of the pandemic, with China and other Asian manufacturing countries grabbing a bigger slice of exports of everything from masks to bikes—market share they are expected to keep after the public-health crisis fades.
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Countries Seek New Fix for Dormant International Trade Court - WSJ
WASHINGTON—Member countries of the World Trade Organization are aiming to resurrect a dormant system for resolving trade disputes that has been a point of friction between the U.S. and other nations.
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Joe Biden orders review of critical foreign supply chains | Financial Times
President wants federal agencies to look into US dependence on rivals in essential sectors
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Biden Economic Aide Sees Steady Recovery as Covid-19 Vaccinations Progress - WSJ
WASHINGTON—Economic activity will pick up as the pandemic recedes and Americans are vaccinated against Covid-19, but the recovery will be gradual rather than sudden, a top economic adviser to President Biden said Wednesday.
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U.S. Treasury No. 2 nominee Adeyemo urges get-tough attitude on China - Reuters
Wally Adeyemo, President Joe Biden’s nominee as deputy Treasury secretary, on Tuesday said Washington should work with allies to hold China accountable to international rules to ensure a level playing field for companies in the United States and elsewhere.
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Tech Stocks Bounce Back as Rate Fears Ease - WSJ
Tech stocks rebounded from an early swoon after Federal Reserve Chairman Jerome Powell pledged anew to support the economic recovery by keeping interest rates low, easing concerns about the impact of rising rates on the monthslong rally in major U.S. indexes.
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To Make More Covid-19 Vaccines, Rival Drugmakers Team Up - WSJ
Some of the world’s biggest drugmakers are joining forces with rivals to help produce Covid-19 vaccines, forging unusual alliances that promise to substantially increase supplies by this summer.
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China urges Biden to lift sanctions and stop meddling | Financial Times
Foreign minister’s remarks follow frosty exchanges in first weeks of US administration
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Chinese Consumers Were Big Spenders During the Lunar New Year Holiday - WSJ
BEIJING—Chinese consumers opened up their wallets over the weeklong Lunar New Year holiday, energizing a domestic retail and service sector that has proved a stubborn laggard in China’s economic recovery.
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Biden Prepares for Sweeping Recovery Package After Covid-19 Relief Bill - WSJ
WASHINGTON—As President Biden pushes for passage of his coronavirus relief plan, he has begun working on a wide-ranging economic recovery package that could face skepticism from lawmakers who are wary of another high-dollar legislative response to the pandemic.
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Biden Declares Texas Winter Storm a Major Disaster - WSJ
President Biden approved a major disaster declaration for Texas on Saturday after winter storms wreaked havoc on the state, creating a power and utility crisis.
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Underfunded and Under Pressure, U.S. Pensions to Keep Investing in China - WSJ
U.S. state pension funds that invested in Ant Group Co. were stung when the financial technology firm’s initial public offering was suddenly pulled on orders of China’s president. But few of these investors are swearing off Chinese private markets, where they still hope to reap big returns.
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Paycheck Protection Program to Offer Exclusive Covid-19 Loan-Application Window for Smallest Firms - WSJ
WASHINGTON—The federal government’s signature coronavirus-relief program for small businesses will accept applications exclusively from companies with fewer than 20 employees for 14 days starting Wednesday, President Biden will announce Monday, according to administration officials.
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week8 | 2021

week8 | 2021

Bitcoin steams to new record and nears $1 trillion market cap - Reuters
Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.
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New York State Sues Amazon Over Worker Treatment During Covid-19 Pandemic - WSJ
New York’s attorney general has filed a lawsuit against Amazon.com Inc. that accuses the online retailer of not doing enough to protect workers in the state from the coronavirus.
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Yellen says U.S. will keep tariffs on China in place for now - Reuters
The United States will keep tariffs imposed on Chinese goods by the former Trump administration in place for now, but will evaluate how to proceed after a thorough review, Treasury Secretary Janet Yellen told CNBC on Thursday.
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Oil and gas industry in Texas buckles under strain of Arctic blast | Financial Times
Frigid temperatures disrupt big pillar of global energy industry, sending crude prices soaring
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Chinese Consumers Were Big Spenders During the Lunar New Year Holiday - WSJ
BEIJING—Chinese consumers opened up their wallets over the weeklong Lunar New Year holiday, energizing a domestic retail and service sector that has proved a stubborn laggard in China’s economic recovery.
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Decoupling With China Would Hurt U.S. Businesses, Chamber of Commerce Says - WSJ
WASHINGTON—The U.S. Chamber of Commerce is warning that rising tensions with China could have serious consequences for U.S. businesses, laying out a worse-case scenario where some major U.S. industries would be crippled.
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Pandemic Spurs Companies to Increase Tech Startup Investing - WSJ
Corporations are expanding venture-capital commitments and launching new funds.
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Why 2021 Promises a Fresh Wave of Defaults From Corporate China - WSJ
This year is likely to bring a series of defaults from China after a string of blowups in 2020. But some investors say they are being compensated well for the risk—and Chinese companies are still less likely to run into financial trouble than their American counterparts.
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Foreign Investors Load Up on U.S. Warehouses - WSJ
Foreign property investors, long drawn to Manhattan skyscrapers, coastal resorts or urban shopping corridors, are increasingly directing their attention to suburban warehouses.
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Jamie Dimon and other business chiefs meet Biden at White House | Financial Times
US president tries to win corporate support for $1.9tn stimulus package
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China Hints at a Shift on Climate - WSJ
A rare public rebuke of the energy agency signals to some that environmental regulators have been empowered to counter the coal industry
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Forecasters Lift Expectations for 2021 Economic Growth - WSJ
Forecasters are increasingly optimistic about economic growth this year, though less so about the labor market’s prospects, as it recovers from the effects of the coronavirus pandemic, a new Wall Street Journal survey shows.
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week7 | 2021

week7 | 2021

Biden warns China will 'eat our lunch' on infrastructure spending - BBC News
US President Joe Biden has warned that China will “eat our lunch” if America doesn’t “step up” its infrastructure spending.
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Fed's Powell Calls for 'Society-Wide Commitment' on Jobs - Bloomberg
Federal Reserve Chairman Jerome Powell says a "society-wide commitment" is needed to achieve and sustain maximum employment.
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Biden’s China Tech Policy at Crossroads Over Commerce Security Pick - WSJ
As the Biden administration charts its course on China policy, a coming political appointment to a key Commerce Department post could offer clues to how the White House will address security risks posed by Chinese tech companies.
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Pentagon launches new task force to examine China threat - POLITICO
The move underscored the message that the administration is prepared to counter China on the military front.
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Biden, China’s Xi Hold Talks Over Human Rights, Trade, Climate - WSJ
WASHINGTON—President Biden spoke with Chinese President Xi Jinping for the first time since taking office in a call in which he said he raised issues of human rights, trade policy and international security that divide the two countries while also holding open the possibility of working together on climate change and nuclear proliferation.
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Celebrating 2021 “New Beginnings” Lunar New Year of the Ox with China General Chamber of Commerce – USA
On Wednesday, February 10th, China General Chamber of Commerce – USA (“CGCC”) and CGCC Foundation, the largest independent, non-governmental, non-profit organization representing Chinese investments in the United States, hosted its 2021 Lunar New Year of the Ox Gala.
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Biden's OMB pick cites concern about China's adherence to trade rules - Reuters
President Joe Biden’s pick as budget director on Tuesday struck a critical tone against China, voicing concern about potential security threats posed by Chinese technology and accusing Beijing of failing to meet bilateral commitments.
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Job Openings Pick Up in Pandemic-Resilient Industries - WSJ
The number of help-wanted ads returned to pre-pandemic levels in January, particularly among industries that have weathered the pandemic relatively well, a sign that hiring could pick up from its sluggish pace at the start of the year.
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U.S. joins WHO programme aimed at boosting COVID-19 fight - Reuters
A U.S. official told a World Health Organization meeting on Tuesday that Washington would participate in a programme to boost COVID-19 testing, diagnostics and vaccines as it joins global efforts to respond to the pandemic.
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US China hawks wage battle over commerce department post | Financial Times
Critics of Beijing seek to influence Joe Biden’s choice to lead Bureau of Industry and Security
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Third Chinese Covid-19 Vaccine Was 66% Effective in Late-Stage Study - WSJ
TAIPEI, Taiwan—Early clinical trial results from several countries showed that a Covid-19 vaccine candidate jointly developed by the Chinese military and a private Chinese firm was 65.7% effective at preventing symptomatic cases of the coronavirus, potentially giving China a third effective vaccine candidate in fighting the pandemic.
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China’s Economy Isn’t Out of the Woods, Despite a Strong 2020 - WSJ
HONG KONG—China weathered the economic fallout from Covid-19 better than any other major country, and economists are predicting a bigger snapback this year.
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U.S. Trade Balance With China Improves, but Sources of Tension Linger - WSJ
WASHINGTON—The U.S. trade balance with China improved last year, but friction is likely to persist, posing a test for President Biden as he seeks to reframe economic relations with the world’s No. 2 economy.
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From Lightbulbs to 5G, China Battles West for Control of Vital Technology Standards - WSJ
Nearly every product in American homes, from lightbulbs to couches, windows and Wi-Fi routers, conforms to standards and measurements of a global system established to ensure quality and seamless operation.
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As Covid-19 Vaccines Raise Hope, Cold Reality Dawns That Illness Is Likely Here to Stay - WSJ
Vaccination drives hold out the promise of curbing Covid-19, but governments and businesses are increasingly accepting what epidemiologists have long warned: The pathogen will circulate for years, or even decades, leaving society to coexist with Covid-19 much as it does with other endemic diseases like flu, measles, and HIV.
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week6 | 2021

week6 | 2021

Fed Officials: Now Isn’t the Time for the Fed to Think About Pulling Back Support - WSJ
Two Federal Reserve officials said Wednesday there will be no imminent pullback in central bank support for the U.S. economy even with growth likely roaring back this year and the unemployment rate seen falling.
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Factbox: What the U.S. Senate voted on in marathon COVID-19 'vote-a-rama' - Reuters
U.S. Senate Democrats were taking the first step on Thursday toward President Joe Biden’s $1.9 trillion COVID-19 relief plan through passage of a budget resolution, as they voted on a series of amendments in a marathon “vote-a-rama” session that could last into the night.
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Biden declares America is back and announces end of support for war in Yemen - CNN
President Joe Biden announced "America is back" on Thursday and declared that "diplomacy is back at the center" of US foreign policy.
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Oil Companies Endure Brutal 2020, Warn of Slow 2021 Recovery - WSJ
The big international oil companies are reporting one of their worst annual performances in decades and signaling that the pandemic could continue to challenge their businesses in 2021.
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Biden to pursue arms control, seeks to engage China, U.S. envoy says | Reuters
The Biden administration views the New Start Treaty clinched with Russia this week as the beginning of engagement on strategic issues including multilateral arms control, a U.S. envoy said on Thursday.
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Biden’s China Policy to Be Steered by Team of Rivals - WSJ
President Biden has stocked his China team with high-powered officials who have longstanding ties to one another but differing objectives. How they work together could determine whether the new administration has a unified China policy, or one riven with divisions that Beijing can exploit.
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Analysis: Delay to U.S. China investment ban leaves U.S. investors in limbo - Reuters
A U.S. Treasury move to delay a ban on investments in companies linked to the Chinese military has left U.S. investors in limbo and unable to tap opportunities non-U.S. investors get to enjoy.
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Trade to be part of Biden's China strategy, not driving force: ex-USTR official - Reuters
Trade will be a part of President Joe Biden’s overall negotiation policy with China, but it won’t be the driving force in Sino-U.S. relations, as it was under former President Donald Trump, a former official at the Office of the U.S. Trade Representative (USTR) said on Wednesday.
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Biden to order review of critical US supply chains - Financial Times
President Joe Biden will issue an executive order requiring the government to review critical supply chains, in an effort to ensure that the US is not too reliant on other countries, including China, for technology and materials.
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Biden Administration to Review Possible Sanctions Relief in Response to Covid-19 - WSJ
The Biden administration is expected to review existing economic sanctions for possible relief to help with the global response in combating the coronavirus pandemic.
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Biden shows his hawkish side on China | Financial Times
New US administration signals it will act tougher against Beijing than Republicans claim
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U.S. Economy Is Expected to Reach Pre-Pandemic Peak by Mid-2021 - WSJ
WASHINGTON—The U.S. economy is expected to expand more rapidly in 2021 than officials projected in July, but it will take several years for output to reach its full potential and for the number of employed workers to return to its pre-pandemic peak, according to new economic projections released Monday.
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China’s New Covid-19 Outbreaks Trip Up Economic Momentum - WSJ
BEIJING—China’s economy started the new year on a weaker footing as new coronavirus outbreaks and pandemic-containment measures sapped factory production and weighed on the country’s services recovery, official data showed Sunday.
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Government ‘SWAT Team’ Is Reviewing Past Startup Deals Tied to Chinese Investors - WSJ
A national-security panel on the hunt for Chinese involvement in U.S. technology companies is scrutinizing startup investments that are months or even years old.
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Vaccination Delays Put Global Rebound at Risk - WSJ
Timetables for vaccinating enough people to effectively curb Covid-19 are slipping in many countries, raising fears that a large portion of the world will still be battling the pandemic and its economic effects well into 2022 or beyond.
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week5 | 2021

week5 | 2021

Saved Stimulus Checks Expected to Help Spur Economic Recovery - WSJ
Many U.S. consumers are starting 2021 flush with savings likely to help fuel the economic recovery this year.
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Exclusive: China likely to avoid setting 2021 GDP target over debt concerns, sources say - Reuters
China will likely avoid setting a 2021 growth target, dropping the closely watched measure for a second straight year on concerns that maintaining one could encourage provincial economies to ramp up debt, policy sources told Reuters.
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U.S. Economy Shrank in 2020 Despite Fourth-Quarter Growth - WSJ
The U.S. economy shrank in 2020 for the first time since the financial crisis, but grew rapidly in the fourth quarter and is forecast to continue recovering following its worst year since the 1940s.
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Biden administration delays Chinese military investment ban | Financial Times
Move by US Treasury will give new president more time to review Donald Trump’s China policies
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A China With More Clout Awaits Biden at the WTO - WSJ
HONG KONG—President Biden has said he plans to work with allies to keep pressure on China, but at the World Trade Organization the U.S. will be facing a rival in Beijing that has become a more dominant force in recent years.
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Fed Holds Policy Steady as Economy Stumbles - WSJ
The Federal Reserve kept its easy money policies in place, saying that business activity has softened with the resurgence of Covid-19 cases, but hoping the rollout of vaccines will tame the pandemic and heal the economy.
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Commerce Nominee Pledges Tough China Stance, but Mum on Huawei Blacklist - WSJ
President Biden’s pick for Commerce secretary pledged a tough line against Chinese trade and technology threats, but stopped short of saying she would continue the Trump administration’s blacklisting of Huawei Technologies Co.
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China's ambassador in U.S. hopes new govt to show sincerity on ties - CGTN
Chinese Ambassador to the U.S. Cui Tiankai on Tuesday expressed hope that the new U.S. administration would show patience, rationality and sincerity in handling Sino-U.S. relations.
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Biden signs 'Buy American' order, pledges to renew U.S. manufacturing - Reuters
President Joe Biden vowed on Monday to leverage the purchasing power of the U.S. government, the world’s biggest single buyer of goods and services, to strengthen domestic manufacturing and create markets for new technologies.
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Global trade recovers to pre-pandemic level | Financial Times
Rebound in late 2020 also fuelled industrial production, benefiting China
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Global chip shortage puts car supply chain under the microscope | Financial Times
Severe shortage of crucial supplies risks becoming recurring crisis for auto industry
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China Played Its Hand Well in 2020. Will It Keep Winning? - WSJ
In late 2019, a group of international public health experts set out to assess pandemic preparedness around the world. Using criteria such as early virus detection, speed of response and adherence to international health norms, they ranked the U.S. first, China a distant fifty-first.
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China Joins Global Push to Rein in Tech Companies - WSJ
Beijing is adding new momentum to efforts in Brussels and Washington to curb the power of big tech companies.
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China Pushes for High-Level Meeting to Ease Tension With U.S. - WSJ
Looking to reset the troubled U.S.-China relationship, Beijing is pressing for a meeting of its top diplomat with senior aides to President Biden to explore a summit between the two nations’ leaders, according to people with knowledge of the initiative.
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China Overtakes U.S. as World’s Leading Destination for Foreign Direct Investment - WSJ
China overtook the U.S. as the world’s top destination for new foreign direct investment last year, as the Covid-19 pandemic amplifies an eastward shift in the center of gravity of the global economy.
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week4 | 2021

week4 | 2021

Business to Biden: prepare for a fight over tax and minimum wage - Financial Times
Business leaders are warning they will fight moves to raise corporate taxes, tighten regulation and double the federal minimum wage under the Biden administration — even as they signalled strong support for the new president’s plans to tame the pandemic and stimulate the US economy. 
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Biden Moves to Jump-Start Covid Fight With Slew of Orders - WSJ
President Biden signed 10 executive orders on his first full day in office to combat the coronavirus, seeking Thursday to jump-start the U.S. response to the pandemic while warning it will take “many months to get where we need to be.”
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Chinese Telecom Carriers Ask NYSE to Make Another U-Turn on Delisting - WSJ
China’s big telecom carriers asked the New York Stock Exchange to rethink their planned delisting, the latest twist in a to-and-fro about whether they should be allowed to trade in U.S. markets.
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China Bids Good Riddance to Trump - WSJ
China said moments after Joe Biden assumed the U.S. presidency that it would sanction 28 senior American officials who served in the Trump administration as part of a testy send-off that included bidding former President Donald Trump “good riddance” via Twitter.
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Kristalina Georgieva: ‘We are in a resilient place but cannot take stability for granted’ | Financial Times
The IMF chief calls for global co-operation to support health systems and limit the damage of economic scarring
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Joe Biden sworn in as 46th US president | Financial Times
New commander-in-chief declares ‘democracy has prevailed’ after tumultuous transfer of power
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American Students’ Love Affair With China Cools as Political Tensions Rise - WSJ
The number of U.S. students in China has dropped by more than one-fifth since a 2011-2012 peak, according to data released in November by the Institute of International Education. The number of American students in Taiwan has climbed by nearly 55% during the same period.
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Blinken Backs Tough Approach to China, Says Will Work With GOP - WSJ
President-elect Joe Biden’s pick for secretary of state backed a tough approach to China and found common ground with Republicans on issues ranging from Israel to Venezuela, hinting at a more unified approach to foreign policy in the next four years.
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Biden plans 15 executive actions on his first day in office - Politico
President-elect Joe Biden is planning a blitz of unilateral action shortly after taking office on Wednesday that will mark his first extensive effort to undo the last four years under President Donald Trump.
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Trump directs government to minimize procurement from China - Reuters
In another action against China days before he leaves office, U.S. President Donald Trump on Friday directed government departments to look at ways to minimize procurement of Chinese goods and services to reduce the risks from espionage, his national security adviser said.
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A Year On, China Falls Short on Trade-Deal Targets - WSJ
The U.S.-China trade pact signed a year ago is being credited for improving business conditions for some American companies, even if a cornerstone of the deal—China’s commitment to greatly increase purchases of U.S. goods—has fallen short.
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UPDATE 1-China's corn, wheat imports in 2020 reach record highs - Reuters
China's grains imports soared to record highs in 2020, customs data showed on Monday, after tight domestic corn supplies pushed prices to multi-year peaks, driving demand for cheaper imports.
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week3 | 2021

week3 | 2021

Biden Outlines $1.9 Trillion Spending Package to Combat Virus and Downturn - The New York Times
The president-elect detailed plans for an initial effort to fight the coronavirus and a subsequent one to address economic recovery.
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China Exports Boom to Record Year, While Covid-19 Ravages Global Economy - WSJ
The coronavirus dealt a blow to global trade in 2020, but not in China, where exports rose last year to their highest level on record, officials said Thursday, positioning it as the only major world economy to grow during the pandemic-scarred year.
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Pentagon Adds Xiaomi to U.S. Investment Blacklist - WSJ
Xiaomi Corp. and eight other businesses have been added to a list of companies that the U.S. Department of Defense says aid China’s military and security services, meaning U.S. investors will soon be barred from buying shares in the Chinese smartphone-maker.
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China’s Economy Powers Ahead While the Rest of the World Reels - WSJ
China is the only major economy expected to report growth for 2020, helping it close the gap with the U.S. Lifted by its quick recovery from Covid-19, it has also expanded its role in global trade and shored up its position as the world’s factory floor.
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U.S. Economy Saw Modest Growth in Late 2020, Fed’s Beige Book Shows - WSJ
WASHINGTON—The U.S. economy grew “modestly” in the final weeks of 2020, as a resurgence in Covid-19 cases prompted activity in some sectors to slow, a Federal Reserve report said Wednesday.
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President Trump Impeached by the House for Second Time - WSJ
WASHINGTON—The House voted to impeach President Trump for an unprecedented second time on Wednesday, alleging he encouraged a mob to storm Congress as part of a last-gasp effort to overturn Democrat Joe Biden’s election win.
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U.S. Trade Deficit Widest Since 2006 in November - WSJ
WASHINGTON—The U.S. trade deficit hit a 14-year high in November as stores stocked up cellphones and other imported consumer and household goods ahead of the holiday season.
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US to require negative Covid-19 test for international air travellers | Financial Times
Health officials try to clamp down as new variants raise alarms about the virus’s spread
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Biden Trade Policy to Center on Workers, USTR Nominee Says - WSJ
WASHINGTON—President-elect Joe Biden’s trade policy will focus on helping American workers by ensuring trade agreements protect and enhance U.S. jobs—and not just ensure low prices of imported goods for consumers, his nominee for the top trade-policy job said Tuesday.
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China’s Car Sales Fell 6.8% in 2020, but That Still Likely Beats Other Markets - WSJ
SHANGHAI—Chinese car sales declined 6.8% last year, as the world’s largest market for automobiles shrank for a third straight year.
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Trade Chief Lighthizer Urges Biden to Keep Tariffs on China - WSJ
WASHINGTON—In his nearly four years in office, U.S. Trade Representative Robert Lighthizer helped move protectionism from the fringes of American policy-making to the core. His advice to the Biden administration: Stay the course.
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House Plans Trump Impeachment Vote for Wednesday - WSJ
WASHINGTON—Congress careened toward a fresh showdown with President Trump, as House Democrats said they plan to vote on impeaching him Wednesday over accusations he incited supporters to storm the U.S. Capitol.
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This Could Be the Best Year on Record for Job Growth - WSJ
The U.S. economy is poised to add more jobs this year than any other on records dating back to 1939—though the expected gain is unlikely to fully replace losses last spring, when the coronavirus pandemic first took hold.
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China’s New Rules Amp Up Pressure on U.S. Businesses - WSJ
HONG KONG—Beijing hit back against recent U.S. restrictions targeting Chinese companies, saying it plans to ban Chinese firms and citizens from complying with foreign laws and sanctions it deems “unjustified.”
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House to Move to Impeach Trump After Push to Have Pence Remove Him From Office - WSJ
WASHINGTON—House Speaker Nancy Pelosi (D., Calif) said the House will move to impeach President Trump as soon as this week if Vice President Mike Pence and the president’s cabinet don’t act to strip him of his powers over the riot at the U.S. Capitol.
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week2 | 2021

week2 | 2021

‘In a Dark Place’: Before Condemning Violence, Trump Spent Day Increasingly Isolated and Angry - WSJ
President Trump late Thursday called the storming of the U.S. Capitol by a mob of his supporters a “heinous attack” and said he would leave office peacefully Jan. 20, after facing bipartisan criticism for his reaction to the riot and increasing pressure for his removal.
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Chinese bargain hunters pile into stocks blacklisted by Trump - Reuters
As U.S. investors dump shares in Chinese companies blacklisted by outgoing President Donald Trump, bargain hunters in China are taking the opposite side of that trade, wagering that a Joe Biden presidency will reverse the investment ban.
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Blacklisted Chinese Telecoms Carriers Cut From Stock Indexes - WSJ
Shares in China’s three major telecommunications companies dropped in Hong Kong on Friday, after index compilers said they would remove the stocks from their benchmarks due to a U.S. government investment ban.
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Covid-19 Aftermath Could Spell a ‘Lost Decade’ for Global Economy, World Bank Says - WSJ
WASHINGTON—Even before Covid-19, the World Bank had lowered its projections for global growth in the 10 years that began in 2020. The pandemic is exacerbating that trend, raising the prospect of a “lost decade” ahead, the World Bank said Tuesday, as it also cut its forecasts for the coming year.
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NYSE Reverses Course Again, Will Delist Three Chinese Telecom Stocks - WSJ
The New York Stock Exchange will move forward with delisting three Chinese telecommunications companies targeted by an executive order from President Trump, reversing course yet again after the NYSE said earlier this week that it wouldn’t delist them.
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Biden Plans to Build a Grand Alliance to Counter China. It Won’t Be Easy. - WSJ
The president-elect wants a coalition of democracies to pressure Beijing to curtail what he sees as unfair practices; Xi Jinping has been thinking along the same lines
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Auto Sales in 2020 Are Expected to Hit Lowest Point in Nearly a Decade - WSJ
Several auto makers reported relatively brisk U.S. sales to finish 2020, stoking optimism the car business this year can continue its climb back from the Covid-19 crisis.
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Warnock makes history with Senate win as Dems near majority - AP News
Democrat Raphael Warnock won one of Georgia’s two Senate runoffs Wednesday, becoming the first Black senator in his state’s history and putting the Senate majority within the party’s reach.
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Here Are the 8 Chinese Apps Trump Banned - The New York Times
The White House took a surprise parting shot at China on Tuesday by banning the popular Chinese payment service and other applications.
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China’s State Capitalism Collides With Its Technological Ambitions - WSJ
Can China’s hybrid state-capitalist economy learn to worship—or at least genuflect a bit deeper—at the altar of efficiency? As relations with wealthier, technologically advanced countries deteriorate, that is probably the most crucial economic question of the 2020s.
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Trump’s Trade War Will Be Left for Biden to Win - WSJ
At first glance, the Trump administration appears to have left President-elect Joe Biden with a strong hand to play in trade negotiations with China. But bringing things to a successful resolution will be challenging on multiple fronts.
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NYSE Scraps Plans to Delist Chinese Telecom Stocks - WSJ
The New York Stock Exchange reversed its decision to delist China’s three largest telecommunications companies, after consulting with regulatory authorities about a recent U.S. investment ban.
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After Covid, Plane Makers Are Even More Dependent on China - WSJ
With airlines in the West expecting to take years to recover from Covid-19, aircraft manufacturers depend on the resilience and growth potential of the Chinese market. But China’s own aerospace ambitions and the geopolitical tensions that surround them could make it a turbulent ride.
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Covid-19 Shipping Problems Squeeze China’s Exporters - WSJ
HONG KONG—A logjam in the global shipping industry is testing the resilience of China’s exporters, who have driven the country’s economic recovery by churning out goods to meet surging global demand during the Covid-19 pandemic.
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Economists Expect Tough Sledding in Winter, Then a Rebound - WSJ
Headed into 2021, the U.S. faces a surge in coronavirus cases, new restrictions on business, cautious holiday shopping and slowing economic growth. Forecasters anticipate that the Labor Department’s December jobs report, due to be released Friday, will show the labor market closed the year on a weak footing.
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