QUOTE OF THE WEEK
“In 2013, the U.S. welcomed more than 1.8 million Chinese visitors and over 235,000 Chinese students. At the same time, more Americans are visiting China and learning Mandarin. Last year, more than 2 million Americans visited China. Currently, more than 51,000 Americans study Mandarin in the U.S., and more Americans study abroad in China than in Germany or Australia. We’re currently on track to reach President Obama’s goal of increasing the number of Americans studying in China to a total of 100,000 over four years.” – Assistant Secretary of State for East Asia and the Pacific Daniel R. Russel at the China-U.S. Symposium at Tufts University on April 18, 2014
China-U.S. Symposium at Tufts University
From April 17 to April 19, The Fletcher School at Tufts University in Boston, MA held its seventh annual China-U.S. Symposium, with panels on: the U.S. Pivot to Asia and Asia’s Response; China and the U.S. in Africa; Military and Cyber; and Foreign Media Perception. The China-U.S. Symposium is a two and a half day academic conference that aims to foster relations between the two countries and increase awareness of the importance of working with China to address global problems. More on the symposium can be found here. On April 18, Daniel R. Russel, Assistant Secretary of State for East Asia and the Pacific, delivered remarks at the China-U.S. Symposium. His full remarks can be found here.
Bipartisan Congressional Delegation Visits Asia-Pacific
From April 18 to April 27, House Majority Leader Eric Cantor (R-VA) led a bipartisan congressional delegation to the Asia-Pacific, meeting with leaders in Japan, South Korea, and China. Topics covered included economic growth and trade, regional security challenges, and strengthening American alliances in the region. On April 24, Mr. Cantor met with Chinese Premier Li Keqiang in Beijing. The delegation included: Budget Committee Chairman Paul Ryan (R-WI), Cybersecurity Subcommittee Chairman Pat Meehan (R-PA), Armed Service Committee Vice Chairman Mac Thornberry (R-TX), State and Foreign Operations Subcommittee Chairwoman Kay Granger (R-TX), Representative Kristi Noem (R-SD), Representative Aaron Schock (R-IL), Representative Tulsi Gabbard (D-HI), and Representative Paul Cook (R-CA).
Former Treasury Secretary in Beijing
On April 29, former Treasury Secretary Timothy Geithner met with Chinese Premier Li Keqiang in Beijing for a discussion of US-China economic relations.
China Could Overtake U.S. as Largest World Economy
On April 30, the World Bank’s International Comparison Program released a report indicating that China could overtake the U.S. as the world’s largest economy as early as this year. Previous estimates had been that China would do so by 2020 or later. The U.S. has been the world’s largest economy since 1872, when it wrestled the title away from Britain. The World Bank report, “Purchasing Power Parities and Real Expenditures of World Economies,” can be found here.
Chinese Leaders’ Official Travel
On April 26, Chen Changzhi, Vice Chairman of the Standing Committee of the National People’s Congress, attended the 50th anniversary of the United Republic of Tanzania.
From May 4 to May 11, Chinese Premiere Li Keqiang will visit Ethiopia, Nigeria, Angola, and Kenya. His visit will include a stop at the African Union headquarters and he will also participate in the Plenary Session of the 24th World Economic Forum in Nigeria.
From May 7 to May 9, Chinese Agriculture Minister Han Changfu will attend the power transfer ceremony of the President of the Republic of Costa Rica.
Official Visits to China
From April 28 to April 30, China hosted a visit by Lubomir Zaoralek, Minister of Foreign of Affairs for the Czech Republic.
ENERGY & ENVIRONMENT
UN 2015 Climate Treaty Options
On April 22, the United Nations released a summary of options for the global 2015 climate agreement, including one that would make emissions reductions binding for developed countries but voluntary for developing nations, and another that would make the agreement legally binding for all participating countries. European Union Commissioner for Climate Action Connie Hedegaard said during a visit to China April 25 that the agreement must be legally binding for all nations, and that China, specifically, must take strong action.
U.S.-China Clean Energy Cooperation
On April 25, the U.S. – China Economic and Security Review Commission held a Capitol Hill hearing on “U.S. – China Clean Energy Cooperation: Status, Challenges, and Opportunities.” Witnesses included: Ms. Leocadia Zak, Director, U.S. Trade and Development Agency; Joanna Lewis, Assistant Professor of Science, Technology and International Affairs, Georgetown University; Sarah Forbes, Senior Associate, World Resources Institute; Jane Nakano, Fellow, Energy and National Security Program, Center for Strategic and International Studies; Jerald J. Fletcher, Director, Advanced Coal Technology Consortium, U.S.-China Clean Energy Research Center; Huei Peng, U.S. Director, U.S.-China Clean Energy Research Center-Clean Vehicle Consortium; and Valerie Karplus, Project Director, China Energy and Climate Project, MIT Joint Program on the Science and Policy of Global Change.
China Shale Gas Reverse Trade Mission
USTDA is sponsoring a reverse trade mission (RTM) to the United States of key individuals representing China's shale gas sector. The RTM will introduce the delegation to U.S. firms that export technology, services and products that can assist China in developing the country's shale gas resources. The reverse trade mission will take place June 23 – July 3, 2014 and will include stops in Washington, D.C and Pittsburgh, PA as well as a business briefing in Houston, TX where U.S companies will learn about upcoming procurements, as well as implementation criteria for shale gas projects. More information can be found here.
USITC to Continue Duty Orders on Steel Line Pipe from China
On April 23, the U.S. International Trade Commission (ITC) determined that revoking the existing antidumping (AD) and countervailing duty (CVD) orders on circular welded carbon-quality steel line pipe from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission's affirmative determinations, the existing orders on imports of this product from China will remain in place.
Commerce Final Determination on Concrete Steel Rail Tie Wire from China
On April 29, the Department of Commerce (Commerce) announced its affirmative final determinations in the antidumping duty (AD) investigations of imports of prestressed concrete steel rail tie wire (PC tie wire) from the China and Mexico, and its negative final determination in the AD investigation of PC tie wire from Thailand. In the China investigation, mandatory respondent Silvery Dragon Group Technology and Trading Co., Ltd. Tianjin received a final dumping margin of 31.40 percent on exports of subject merchandise produced by Silvery Dragon Prestressed Materials Co., Ltd. Tianjin. The China-wide entity, inclusive of Wuxi Jinyang Metal Products Co., Ltd. and Shanxi New-Mile International Trade Co., Ltd., received a final dumping margin of 35.31 percent. As a result of the final affirmative determinations for China and Mexico, Commerce will instruct U.S. Customs and Border Protection to collect cash deposits equal to the applicable final weighted-average dumping margins. The International Trade Commission (ITC) is scheduled to make its final injury determinations on June 12, 2014. If the ITC makes affirmative final determinations that imports of PC tie wire from China and/or Mexico materially injure, or threaten material injury to, the domestic industry, Commerce will issue AD orders. If the ITC makes negative determinations of injury, the investigations will be terminated.
CAP Report on China’s Economic Reform Agenda
On May 1, the Center for American Progress released a report titled “Assessing China’s Economic Reform Agenda: Even With New Reform Efforts, The State, Not Market, Still Poised to Drive China’s Economy.” The report can be found here.
Greater China Business Forum
On October 7th and 8th, the Department of Commerce, as part of the DISCOVER GLOBAL MARKETS 2014 series, will hold a forum on China in New York City at the New York Athletic Club. The Greater China Business Forum is a two-day conference that will provide numerous opportunities for companies to learn from experts with real-world experience in Greater China markets. The forum will include visiting U.S. Commercial Service diplomats based in Beijing, Chengdu, Shanghai, Guangzhou, and Hong Kong, and will also offer one-on-one consultations with subject matter experts in IPR, Standards and Certifications, Trade Finance, Export Controls, e-Commerce, and Government Procurement. Agenda, registration, and cost information can be found here.