Mnuchin Proposing New Trade Negotiations: A Turnaround or a Tactic?

United States Secretary of the Treasury Steven Mnuchin sent a proposal to China on September 12, seeking the initiation of a new round of trade negotiations. Gao Feng, spokesman of China’s Ministry of Commerce, responded the following day that China had received the proposal and welcomes talks. Beijing and Washington are now working out the negotiation details. Escalating trade conflict is not in line with interests of either party, Gao emphasized. Since the trade war was first waged by the US in July, the US has already levied tariffs on $50bn of Chinese products, while China has retaliated with measures worth an equivalent amount. Now, Trump’s government is considering a duty increase on $200bn of Chinese products. With these factors in mind, how should we interpret the signal for talks the US has sent out at this crucial time? Does it indicate a turnaround? Increasing Domestic Pressure on Trump’s Government From running a presidential election campaign to taking office, Trump has always held a tough position on trade issues. He has placed the blame for US trade imbalances on other countries, saying they take advantage of the US. Hence, by bearing the torch of trade protectionism, Trump has shaped himself in the image of a strongman who fears no international pressure and always safeguards US interests. This image has won […]

Sep 17, 2018

CPEC Emerging as Economic Boon for Pakistan

Since its launch, the CPEC has helped to create a conducive and favorable environment for the country, guaranteeing prosperity, a bright future and security along with a sustainable economy.

Aug 15, 2018

Evolution of Malaysia-China Relations

Since 1974, a sort of mythology has grown up around how Malaysia’s current strong relations with China began to take shape in that year, when Prime Minister Tun Abdul Razak became the first ASEAN leader to normalize relations with it.

Aug 9, 2018

Growing Pains

Just when everyone thought China’s e-commerce market was being dominated by Alibaba and, a dark horse emerged from the shadows and blazed a trail into the trading spotlight amid a wave of criticism.