Threatening to penalize US automaker, fortifying South China Sea islets
BEIJING — Eager to see how Donald Trump backs up his hard-line rhetoric, the Chinese government is taking steps to elicit responses from the U.S. president-elect on the economic and foreign policy fronts.
An official of the National Development and Reform Commission has revealed that an unnamed U.S. automaker is to be fined for instructing dealerships in China to fix prices, according to the English-language newspaper China Daily. Trump has responded by meeting with Wilbur Ross, his pick for commerce secretary. Continue reading
With Washington heading in more hawkish direction, China must respond by opening up state companies to private investment, analysts say
A top US congressional panel has called on Washington to ban Chinese state-owned firms from taking over US companies, citing national security concerns.
The recommendation in a report on Wednesday from the US-China Economic and Security Review Commission comes amid intense speculation about US president-elect Donald Trump’s likely policy on China and fears of a trade rift between the two countries. Continue reading
China will invest 946.3 billion yuan ($140 billion) by 2020 to relocate its poorest citizens from remote, inland regions to more developed areas, the state planner said on Monday.
The mass relocation is part of a strategy to lift 10 million people out of poverty by 2020, with 2 million estimated to be moved this year, the state council said in May. Continue reading
Dalian, China: The plan here seems far-fetched – a $36 billion tunnel that would run twice the length of the one under the English Channel, and bore deep into one of Asia’s active earthquake zones. When completed, it would be the world’s longest underwater tunnel, creating a rail link between two northern port cities.
Throughout China, equally ambitious projects with multibillion-dollar price tags are already underway. The world’s largest bridge. The biggest airport. The longest gas pipeline. An $80 billion effort to divert water from the south of the country, where it is abundant, to a parched section of the north, along a route that covers more than 1,500 miles.
Such enormous infrastructure projects are a Chinese tradition. From the Great Wall to the Grand Canal and the Three Gorges Dam, this nation for centuries has used colossal public-works projects to showcase its engineering prowess and project its economic might. Continue reading