The past 5 years has witnessed the historical rise of Chinese economy as the largest powerhouse driving the world economy forward. The Chinese economy entered the New Normal in 2012. Although there has been no longer two-digit growth, it has still experienced a medium-high growth rate with a better, cleaner and higher-end technology quality.
On August 14 US President Donald Trump issued a presidential memo directing the United States Trade Representative (USTR) to conduct a Section 301 investigation into China. Robert Lighthizer, the USTR, subsequently announced the process.
Trump explained the reason behind the move as China’s “forced technology transfer” and “theft of American IP”, and called the investigation “a very big move” and “just a beginning.”