On December 18, China made a bold move on the global economic chessboard. It launched a massive free-trade experiment by turning the entire island province of Hainan – an area, comparable in size to Belgium, whose gross domestic product was US$113 billion last year – into a duty-free customs zone. A new narrative has now…
The European Union has formally terminated a long-running dispute with China at the World Trade Organization, centred on Beijing’s alleged coercion of Lithuania in 2021. In a statement circulated to WTO members, the bloc said it was abandoning the case “considering the key objectives behind this dispute have been met and relevant trade has resumed”….
China’s 15th five-year plan is more than a policy blueprint; it is a pivotal turning point. This plan and the next one will define an era of innovation-led growth, solidifying China’s status as a major power and peer competitor to the United States. Since the reform and opening-up policy was launched, China’s economic development has…
China’s Foreign Minister Wang Yi said “a multipolar world is emerging”, positioning Beijing’s latest vision for global governance as a unifying and stabilising framework at a time of increasing turbulence and Washington-driven unilateralism. Speaking in Beijing on Monday, Wang also called for “an end to politicising economic and trade issues, artificially fragmenting global markets, and…
This wide coverage benefits key export sectors for least developed countries (LDCs)—such as coffee, tea, leather, textiles and processed food—helping these economies integrate more effectively into global value chains. According to the WTO secretariat’s latest report, Market Access for Products and Services of Export Interest to Least Developed Countries, India’s Duty-Free Tariff Preference (DFTP) Scheme…
WASHINGTON (AP) — President Donald Trump said Monday that the U.S. commands “great respect” from Beijing and that he will reach a “fantastic deal” with Chinese President Xi Jinping when the two leaders meet soon. Trump’s remarks come after Beijing infuriated him by expanding export controls on rare earth products that are used in smartphones,…
China’s top trade negotiator, Li Chenggang, has been dismissed from his role as the country’s permanent representative at the World Trade Organization. This change was announced by state news agency Xinhua as part of a broader list of ambassadorial appointments and dismissals overseen by President Xi Jinping. Source link
Oil prices dipped on Monday, pressured by worries over a global glut as escalating U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand. Brent crude futures fell 24 cents, or 0.4%, at $61.05 a barrel at 0032 GMT, while U.S. West Texas Intermediate futures were down 21 cents, or 0.4%,…
China is increasingly applying domestic law beyond its borders in response to US pressure, legal analysts have suggested. The “foreign-related rule of law” concept was first unveiled in 2019, and soon gained prominence. Some leading Chinese legal analysts and policy advisers have said that the United States was responsible for this. The 2023 Law on…
The European Commission has unveiled sweeping measures to shield the EU’s struggling steel industry from a flood of overcapacity that it says is emanating from China, slashing tariff-free quotas by nearly half and doubling duties on excess shipments to 50 per cent. To take effect, the plan must be approved by the European Parliament and…