China-US trade war

Can China become fully self-reliant in the semiconductor industry? (iStock)

China’s semiconductor Great Leap Forward is doomed to fail

Political commentator Jin Jian Guo believes that the semiconductor Great Leap Forward pushed by the Chinese authorities could have the same devastating effects as the Great Leap Forward of the past. In an industry that is globally interconnected, persisting with the impossible endeavour of becoming fully self-reliant would only result in further instances of failing to learn from history.
People walk by the New York Stock Exchange at the start of the trading day on 3 June 2022 in New York City. (Spencer Platt/Getty Images/AFP)

Could the end of the China-US trade war be near?

With the latest virtual call between Chinese Vice-Premier Liu He and US Treasury Secretary Janet Yellen, observers are anticipating that the US will lift the Trump-era punitive tariffs on China and de-escalate the four-year-long China-US trade war that has hurt both economies. Zaobao correspondent Yang Danxu looks at how the situation might develop and how Biden might play his cards.
A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, US, 31 March 2017. (Randall Hill/Reuters)

Boeing losing out amid strained China-US trade relations

Three of China’s major airlines have announced plans to purchase about 300 aircrafts from Europe’s Airbus, much to the chagrin of the US’s Boeing. Zaobao correspondent Yu Zeyuan discusses the reasons behind the move and what this might portend.
A woman holds US dollar banknotes in this illustration taken 30 May 2022. (Dado Ruvic/Illustration/Reuters)

Quit the dollar: Can Asia build its own digital currency and digital payment infrastructure?

Calls for de-dollarisation have increased since the financial sanctions of the Ukraine war and the very real threat of the US dollar being weaponised. In this context, academic Pei Sai Fan explains why conditions are ripe for China and Asia to offer innovative alternatives, such as developing regional digital currency cooperation in the payment and settlement of regional trade and investment, and expediting the development of new cross-border digital payment infrastructure in Asia known as multi-CBDC platform projects.
Yang Jiechi (first from right) and Jake Sullivan (first from left) at their meeting in Luxembourg, 13 June 2022. (Xinhua)

Xi-Biden meeting unlikely as China-US relations stay locked in stalemate

While virtual meetings between Xi Jinping and Joe Biden have usually followed in-person meetings between the countries’ top diplomats, there is no sign of a virtual summit taking place any time soon after China's Yang Jiechi and US national security adviser Jake Sullivan met in Luxembourg. For the US, internal disagreement over trade tariff issues could be causing the pause. And in the case of China, it has already let go of any false hope for better ties.
Pedestrians carry shopping bags on Geary street in San Francisco, California, US, on 18 May 2022. (David Paul Morris/Bloomberg)

Can high inflation in the US bring an end to the China-US trade war?

With inflation reaching historic highs, the Biden administration is facing a challenging road ahead of the midterm elections in November. The lifting of some tariffs on China could ease inflation in the US and appease voters, bringing an end to the China-US trade war. However, views in the White House are mixed. Zaobao correspondent Edwin Ong speaks with academics to find out more.
Burnt cars are pictured through the glass of a damaged car in Saltivka neighbourhood, amid Russia's attack on Ukraine, in Kharkiv, Ukraine, 10 May 2022. (Ricardo Moraes/Reuters)

Russia-Ukraine war has triggered another split in China-US relations

Economics professor Zhu Ying observes that since US-China relations reached their high point after former President Trump's visit to Beijing in 2017, China-US relations have seen three splits, each driven by the trade war, the pandemic and the war in Ukraine respectively. Amid tense relations and set identities that have been formed, one can only hope that the US and China do not stumble into a hot war.
Demonstrators gather in support of Ukraine following Russia's invasion, and watch Ukraine President Volodymyr Zelensky's speech as it is broadcasted to the Knesset, Israel's parliament, and projected at Habima Square in Tel Aviv, Israel, 20 March 2022. (Corinna Kern/Reuters)

When a country needs to choose between realism and idealism

NUS academic Lu Xi notes that following the Russia-Ukraine war, the world will possibly be divided by political ethics, specifically between the idealists and realists who respectively believe in the rule of law and the law of the jungle. In this hypothetical scenario, will small states be able to stay neutral without taking sides? How will they navigate between the big powers and maintain their own national interests?
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, 16 March 2022. (Brendan McDermid/Reuters)

US regulations strangling the life out of China concept stocks?

Chinese concept stocks plunged after the US Securities and Exchange Commissions’ recent announcement that another five US-listed Chinese companies might be delisted for non-compliance with US regulations. Although there was a rebound after Vice-Premier Liu He’s reassurance that China will implement policies to stabilise the stock market and support overseas listings, Chinese companies looking to raise capital abroad will still have to deal with two sets of inherently contradictory regulations from the US and China.