Talk of economic decoupling between China and the United States, the world's two largest economies, surfaced amid their prolonged trade war, rising tech rivalry and general geopolitical tensions which

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China looks inwards as it plans for economic ‘worst-case scenario’
China is turning inward and looking to its domestic market, rather than international trade, to revive its economy in what has been described as preparation for a “worst-case scenario” that might see it decoupling from America and the rest of the West.   President Xi Jinping told dozens of top economic advisers in Beijing over the weekend that China was pursuing a new development plan where “domestic [trade] circulation plays the dominant role.” “For the future, we must treat domestic demand as the starting point and foothold as we accelerate the building of a complete domestic consumption system, and greatly promote innovation in science, technology and other areas,” Xi said in comments pub
41% of Americans shun China’s products. The mistrust is mutual
The coronavirus pandemic is fueling mistrust among consumers in China and the United States of each country’s products.  A recent survey by Deutsche Bank’s big data platform dbDIG showed 41% of Americans would not buy a “Made in China” product again. 35% of Chinese would avoid buying products “Made in USA.” Even though most consumers were not ready to completely shun each other’s goods, the survey results indicate a rise in commercial nationalism and a growing distaste for globalization, said Apjit Walia, an analyst at Deutsche Bank. US consumer distrust of Chinese products has been boosted by comments from American officials, particularly President Donald Trump, who has blamed China for th
China could soon find itself short of friends
China could face isolation from the post-coronavirus global economic order, according to the man who helped secure its place in the World Trade Organization in 2001.  The warning by Long Yongtu, the country’s former chief trade negotiator, adds to a chorus of influential domestic voices who are increasingly concerned about the country being frozen out in the fallout from the pandemic. As more countries follow the United States in criticizing China for its handling of the virus, some in China are concerned that Washington and its allies will try to exclude Beijing from a new international economic order. Long said: “China is also an important participant in globalization, so when somebody be
China issues 11,380-word rebuttal to US coronavirus claims
China has issued a lengthy rebuttal dismissing claims it mishandled the Covid-19 pandemic and denying claims that there had been safety problems at a virology lab in the Chinese city of Wuhan. The 11,380-word rebuttal follows an escalating war of words between China and the United States over the origin of the coronavirus that causes Covid-19. The statement was posted on the Chinese foreign ministry’s website on Saturday and has been published by state media outlets. Last week, President Donald Trump and Secretary of State Mike Pompeo said there was evidence that linked the secure facility to an accidental leak of the pathogen, although Pompeo later changed his tune and said it “could be wr
How canceling debt to China could backfire for the US
China could cut the vast amount of US government debt it buys in response to speculation that the United States may not repay it, amid a war of words over the coronavirus and trade, analysts have said. US news reports indicated that White House officials had debated several ways to offset the cost of the coronavirus outbreak, including not repaying some or all of the nearly $1.1 trillion debt that the US government owes China. The discussion of China’s financial connection to the US government has come as President Donald Trump and other American officials have increased their criticism of Beijing over the origins and handling of the coronavirus, and threatened new import tariffs to penaliz
Coronavirus pandemic pushes US, China into ‘new Cold War’
A dramatic deterioration in US-China relations in recent days has convinced current and former government advisers on both sides that bilateral ties have plummeted to their lowest point in decades. Over the past week, the Trump administration has threatened to scrap an initial trade deal and increase tariffs on China, backed tough new export controls for Chinese firms buying American tech products, and continued to push theories claiming the coronavirus originated in a laboratory in the city of Wuhan. The White House is also “turbocharging” an initiative among “friendly nations” to push manufacturing supply chains out of China, according to Reuters.  And a leaked report from the US Departme