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Highlights of this Month’s Edition
•Bilateral trade: U.S. exports to China rise 14.1 percent year-on-year in November 2016, the largest increase since December 2013. Cumulative yearly trade with China and the U.S. goods trade deficit continue to decline year-on-year.
•Bilateral policy issues: China launches complaint at the WTO against the United States and EU over market economy status; the United States challenges Chinese grain tariff rate quotas at the WTO; WTO talks to finalize the Environmental Goods Agreement collapsed, due in part to China’s last-minute submission of a new product list.
•Policy trends in China’s economy: Capital outflows continue, forcing the Chinese government to spend down reserves and reinstitute capital controls to maintain the exchange rate; a new directive issued by the Chinese government prohibits social media sites from streaming videos on current events from non-government-approved sources.
China’s Beidou satellite navigation system—one of the country’s top space projects and only the fourth system of its kind currently in development or operation—is projected to achieve global coverage by 2020. This report examines the objectives behind Beijing’s decision to develop the system as an alternative to GPS, its efforts to build an industry around the system, and the effects this might have in security, economic, and diplomatic terms for the United States. The system’s primary purpose is to end China’s military reliance on GPS, although China’s associated industrial policies will likely affect U.S. firms operating in China’s market. Industry professionals assess there are no inherent risks to products such as smartphones receiving data from Beidou.
The report examines the rapidly increasing foreign direct investment by China in the United States and how the unprecedented level of investment, especially in sensitive sectors, raises new considerations for lawmakers regarding U.S. national and economic security. This report was prepared for the Commission by the Rhodium Group.
Highlights of this Month’s Edition •Bilateral trade: U.S. exports to China jump 11.3 percent year-on-year in October 2016, leading to a smaller deficit. •Bilateral policy issues: At JCCT, China pledges to open entertainment sector to the United States, but U.S. concerns over Chinese biotechnology rules remain unaddressed. •Policy trends in China’s economy: China has passed a broad new cybersecurity law aimed at tightening government control over information flows and technology products, sparking complaints from foreign business and rights advocacy groups; Lou Jiwei replaced as Minister of Finance, raising concerns about China’s commitment to economic reform.
• Sector focus – Singles’ Day and E-Commerce: Singles’ Day sets new record for online sales amid the continued rise of electronic transactions in China, offering new market opportunities for foreign firms.
The U.S.-China Economic and Security Review Commission has released the 2016 Annual Report to Congress. This year’s report covers Chinese overcapacity, investment in the United States, state-owned enterprise reform, China’s military buildup, espionage threats to the United States, and China’s relationship with the world (including a special focus on Hong Kong, Taiwan, South Asia, and North Korea), among other topics. Additionally, this year’s report has a new chapter on China’s response to the United States’ Rebalance to Asia. The congressionally-mandated report features 20 recommendations for lawmakers. Commissioners will be in attendance to present their analysis and answer any questions.
Highlights of this Month’s Edition" • Bilateral trade: In the third quarter of 2016, the U.S. trade deficit declined year-on-year due to weakened imports; in the second quarter of 2016 U.S. service exports to China reach $10.8 billion, an 8 percent increase year-on-year. • Bilateral policy issues: China drops discriminatory aviation tax break; WTO rules against U.S. zeroing antidumping methodology; the United States advances WTO raw materials case against China. • Quarterly review of China’s economy: China’s GDP growth hit 6.7 percent for the third straight quarter; strong public investment, largely in real estate and infrastructure, has counterbalanced lower private sector investment and driven economic growth, but questions remain regarding the health of the underlying economy; RMB posts weakest rate against the dollar since 2010. • Policy trends in China’s economy: The CCP designates Xi Jinping as its “core” leader at the Sixth Plenum.
The U.S.-China Economic and Security Review Commission was created by the United States Congress in October 2000 with the legislative mandate to monitor, investigate, and submit to Congress an annual report on the national security implications of the bilateral trade and economic relationship between the United States and the People’s Republic of China, and to provide recommendations, where appropriate, to Congress for legislative and administrative action.