Good morning. Biden introduces his foreign policy team. The Dow breaks 30,000. And Pennsylvania is banning alcohol sales.
How Biden will confront China
The presidents who came just before Donald Trump took a mostly hopeful view of China. Barack Obama, Bill Clinton and the two George Bushes all tried to integrate China into the global economy and political system. Doing so, they believed, could persuade China to accept international rules and become more democratic.
China used access to the world’s markets to grow richer on its own terms. It rejected many international rules — on intellectual property, for example — while becoming more authoritarian at home. As a recent Times story puts it, China has adopted “increasingly aggressive and at times punitive policies that force countries to play by its rules.”
23 Nov 2020 08:56AM(Updated: 23 Nov 2020 09:52AM) CNA
TAIPEI: A two-star Navy admiral overseeing US military intelligence in the Asia-Pacific region has made an unannounced visit to Taiwan, two sources told Reuters on Sunday (Nov 22), in a high-level trip that could vex China.
The sources, who include a Taiwanese official familiar with the situation, said the official was Rear Admiral Michael Studeman. The sources spoke on condition of anonymity.Advertisement
According to the Navy’s website, Studeman is director of the J2, which oversees intelligence, at the US military’s Indo-Pacific Command.
Donald Trump has banned US investment in a further 89 Chinese companies, and reportedly sent a navy admiral to Taiwan, as he seeks to secure a tough-on-China foreign policy legacy.
Multiple media outlets have reported plans by the Trump administration for a series of confrontations with China before Biden’s inauguration on 20 January, and the moves were largely expected. Foreign policy and political analysts believe Trump wants to leave a legacy of being tough on China, while simultaneously conducting a “scorched earth” policy on his way out of the White House.
TAIPEI: The US and Taiwan are stepping up cooperation in a newly created economic dialogue, in another move from the outgoing Trump administration to increase official exchanges with the self-ruled island.
The two sides signed a five-year agreement establishing the US-Taiwan Economic Prosperity Partnership Dialogue, which is meant to be held annually. The deal falls short of a long-desired bilateral trade agreement, but is a significant step that increases ties between Washington and Taipei.
By Nguyen Quy November 19, 2020 | 11:46 am GMT+7 VNExpressNational security adviser Robert O’Brien speaks to the media outside the White House in Washington, U.S., November 17, 2020. Photo by Reuters/Leah Millis.
U.S. national security adviser Robert O’Brien left Thursday for Vietnam and the Philippines to discuss regional security cooperation, the White House National Security Council said.
He would meet leaders in both countries “to reaffirm the strength of our bilateral relationships,” it tweeted on Thursday.
Vietnam’s Ministry of Foreign Affairs spokeswomen Le Thi Thu Hang said at a press meet the same day that O’Brien will be in Vietnam from Friday to Sunday for high-level meetings to discuss bilateral relations and regional and international issues that concern both Vietnam and the U.S.
Peter Martin November 16, 2020, 9:38 PM GMT+7 Bloomberg
World could slide into catastrophe like World War I: Kissinger
Says Biden, Xi should agree not to resort to military conflict
Former U.S. Secretary of State Henry Kissinger said the incoming Biden administration should move quickly to restore lines of communication with China that frayed during the Trump years or risk a crisis that could escalate into military conflict.
“Unless there is some basis for some cooperative action, the world will slide into a catastrophe comparable to World War I,” Kissinger said during the opening session of the Bloomberg New Economy Forum. He said military technologies available today would make such a crisis “even more difficult to control” than those of earlier eras.
Hong Kong (CNN Business) President Donald Trump spent much of his term setting up Beijing as Washington’s greatest political and economic adversary. Don’t expect drastic changes when Joe Biden takes the helm, even if he eschews the bluster and unpredictability of his predecessor.
Economists and trade experts believe that the United States and China will move further apart on trade and technology as Washington continues to scrutinize virtually every aspect of its relationship with the world’s second-largest economy.
”We have a fundamental, systematic rivalry between these two systems,” said Alex Capri, research fellow at the Hinrich Foundation and senior fellow and lecturer at the National University of Singapore. “In many ways, that rivalry is going to intensify.”
A historic shift in U.S. economic policy is taking shape regardless of who sits in the White House or controls Congress: an increasingly muscular role for state power to build up industries U.S. leaders deem critical to America’s national security and place in the world.
Alan Crawford, DebWu, Colum Murphy and Ian KingFri, October 23, 2020, 12:42 AM GMT+7·11 mins read. Yahoo!Finance
(Bloomberg) — On a scorching hot day in late August, representatives of Taiwan’s government and industry crowded into the clinical cool of a state-of-the-art semiconductor facility for a symbolic moment in the global tech conflict.
They were attending the opening ceremony for a training center built by Dutch company ASML Holding at a cost of about $16 million, small change for an industry used to spending $10 billion or more on a single advanced manufacturing plant.
Hong Kong (CNN Business) China wants to counter the United States by boosting its technological capabilities and becoming more self sufficient. That’s easier said than done.
Beijing outlined its goal for more economic independence this week as the Chinese Communist Party’s Central Committee put together its latest Five-Year Plan. The 14th iteration of the vast policy framework will cover 2021 to 2025, and is key to setting the country’s political and economic agenda.
The full scope of the plan might not be known for months, but a statement published Thursday said that China wants to focus on economic self-reliance and technological independence. Doing so would help insulate the country from US attempts to restrict its access to critical technologies.”[We will] nurture a strong domestic market and establish a new development pattern,” the statement said. “Domestic consumption will be a strategic focus.”
(CNN)The Unites States has charged eight people, including six Chinese citizens, over a three-year plot to intimidate a US resident into returning to China to face criminal charges.
The case is believed to be part of the ruling Communist Party’s Operation Fox Hunt, an international anti-corruption campaign targeting Chinese fugitives — often former officials or rich individuals suspected of economic crimes.
The US Department of Justice said Wednesday the charges included “conspiring to act in the US as illegal agents of the People’s Republic of China.” Five people have been arrested, while three are believed to be at large in China.