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ICAS Bulletin (online ISSN 2836-3418, print ISSN 2836-340X) is published every other week throughout the year at 1919 M St NW, Suite 310, Washington, DC 20036.
The online version of ICAS Bulletin can be found at chinaus-icas.org/bulletins/.
– U.S. Secretary of Commerce Gina Raimondo is visiting China from August 27–30 to create a peaceful dialogue regarding Sino–American commerce and trade.
– The visit is happening at a crucial time: the two major economies are shifting away from each other and increasing trade with other partners as China’s economy is facing a downturn.
– Secretary Raimondo said she refused an appeal by Chinese leaders to reduce U.S. export controls on technology with potential military capabilities during an in-person meeting in Beijing.
– Concerns over restrictions on U.S. business like Intel and Micron Technology as well as gallium and germanium exports were among the topics discussed during the hours of ‘wide-ranging and candid talks’ between Secretary Raimondo and China’s commerce minister Wang Wentao on August 28. TikTok was reportedly not discussed.
– On August 29, Secretary Raimondo met with Chinese Premier Li Qiang, passing along a message from President Biden: “We seek to maintain our $700 billion commercial relationship with China, and we hope that that relationship can provide stability for the overall relationship.”
– Secretary Raimondo shared that she increasingly hears from U.S. corporations that “China is uninvestable because it’s become too risky” with new challenges including but not limited to “exorbitant fines without any explanation” and “revisions to counterespionage law.”
– On August 28, the U.S. and China announced they have agreed to hold regular conversations regarding commercial access and the tech industry. Secretary Raimondo called the agreement a “very good sign.”
Associated News References:
“US commerce secretary rejects Chinese appeal to ease export controls,” AP, August 29
“Commerce says US firms complain China is ‘uninvestible’,” Reuters, August 29
“TikTok’s U.S. Future Still in Limbo as Commerce Secretary Visits China,” The New York Times, August 29 [Paywall]
“Raimondo Stresses Optimism on Economic Ties With China’s Premier,” Bloomberg, August 29 [Paywall]
“U.S. and China Agree to Broaden Talks in Bid to Ease Tensions,” The New York Times, August 28 [Paywall]
“US raises concerns by Micron, Intel with China,” Reuters, August 28
“U.S., China set for talks as they bring trade closer to shores,” Reuters, August 25
– The Pentagon unveiled their Replicator drone program, reportedly in order to compete with China’s drone industry. The focus of the program will be on innovation.
– The Chinese State Council has ordered an age limit on talent in technology fields, with the goal of promoting youth in a push to pull ahead in the ‘U.S.-China tech war’.
– Apple production hotspots are shifting from China to India and Vietnam as economic growth induces wage increases in China.
– As part of national efforts to promote domestic growth and de-risk from the U.S., Chinese Premier Li Qiang conducted a three–day visit to Guangdong hi–tech firms amid economic stagnation in the tech industry.
– Chinese tech company Huawei is building shadow chip factories across China in order to circumvent bans from the U.S., who has blacklisted the company.
– The U.S. and China are now competing to integrate AI into military technologies, with a new goal being for AI to identify and strike targets without human intervention.
– On August 17, China’s Ministry of Commerce said that they “will take necessary countermeasures” to the Biden administration’s executive order to restrict U.S. investment in Chinese technology.
– U.S.-based Intel’s acquisition deal of Israeli chip–maker Tower Semiconductor fell through due to Chinese regulators’ refusal to approve the deal.
Associated News References:
“Pentagon unveils ‘Replicator’ drone program to compete with China,” Defense News, August 28
“US-China tech war: Beijing wants young tech talent to play leading role amid self-reliance push,” South China Morning Post, August 28 [Paywall]
“Apple’s iPhone Supply Chain Splinters Under US-China Tensions,” Bloomberg, August 27 [Paywall]
“China’s hi-tech direction on show as Premier Li Qiang visits economic barometer as US curbs, de-risking damage mounts,” South China Morning Post, August 25 [Paywall]
“Huawei Is Building a Secret Network for Chips, Trade Group Warns,” Bloomberg, August 22 [Paywall]
“China, U.S. Test Intelligent-Drone Swarms in Race for Military AI Dominance,” The Wall Street Journal, August 19 [Paywall]
“China is considering countermeasures to Biden’s executive order,” CNBC, August 17
“China Torpedoes Intel’s Bid to Buy Israeli Chip Maker Tower Semiconductor,” The Wall Street Journal, August 16 [Paywall]
– Chinese president Xi Jinping is strengthening ties with Africa in a rare international visit, hoping to establish himself as a leader of the developing world.
– On August 18, President Biden hosted a trilateral meeting with the leaders of Japan and South Korea at Camp David, establishing formal agreements and releasing a joint statement that includes direct references to and arguments against China.
– China seeks allies in Africa in response to America’s increasing ties with Japan and South Korea. The simultaneous yet separate diplomatic engagements led by the U.S. and China are leading many observers to remember and compare current situations to the Cold War.
– President Biden says that the trilateral Camp David Summit will help establish the three countries against increasing pressure from China and North Korea.
– One of the concerns by the diplomats at the Camp David Summit was whether or not to “insert the word ‘China’ in the documents’ final text” of the trilateral statement.
Associated News References:
“China Tries to Increase Its Clout in Africa Amid Rivalry With the U.S.,” The New York Times, August 23 [Paywall]
“Biden’s Summit With Asian Allies Further Isolates China,” Bloomberg, August 22 [Paywall]
“U.S., China Try to Draw Nations to Their Side as Divisions Harden,” The Wall Street Journal, August 20 [Paywall]
“U.S., Japan and South Korea Boost Alliance to Counter China, North Korea,” The Wall Street Journal, August 18 [Paywall]
“China casts a shadow over opening of Biden’s Japan-S.Korea trilateral summit,” Politico, August 16
– Chinese auto manufacturer BYD has struck a deal to purchase the U.S.-based manufacturer Jabil Inc’s mobile manufacturing business in China in a bid to increase its smartphone components business.
– Chinese liquified natural gas (LNG) importers are not only expanding into locations in Singapore and London but also increasing volumes with American and Qatari contracts.
– U.S. fast food chain Popeye’s announced plans to open 1,700 locations in China in spite of the presence of more established rivals McDonald’s and KFC.
– Estée Lauder is facing losses in North American and Chinese businesses, but expects to make a rebound this year.
– Chinese real estate developer Evergrande has officially filed for bankruptcy in the U.S. The process is expected to be one of the world’s biggest debt restructurings.
– U.S. corporation Tyson Foods plans on selling its China poultry business, making them one of the most recent multinational firms to distance themselves from China.
– Boeing will name Alvin Liu, a China–born representative, as its China branch president despite ongoing Sino–American economic tensions.
Associated News References:
“Chinese carmaker BYD to buy US firm Jabil’s mobility business for $2.2 bln,” Reuters, August 28
“China LNG buyers expand trading after adding more US, Qatari contracts,” Reuters, August 21
“Popeyes takes on KFC, McDonald’s in China as the US fried chicken brand plans to open 1,700 stores in mainland in next decade,” South China Morning Post, August 21
“Estée Lauder Swings to Loss on Weakened China Business,” The Wall Street Journal, August 18 [Paywall]
“Evergrande files for US bankruptcy protection as China economic fears mount,” Reuters, August 18
“Exclusive: Tyson Foods plans to sell China poultry business,” Reuters, August 17
“Boeing China appoints new president amid Sino-US tensions,” Reuters, August 16
– According to a new study, consumers are the ones bearing the brunt of the backlash from the policies enacted by the Biden and Trump administrations to shift U.S. trade away from China.
– American lawmakers are increasingly pushing bills to prohibit land ownership by Chinese entities and citizens in 33 states.
– The enforcement of law banning the import of car parts from China, including EV batteries, heightens as efforts increase to cease U.S. links with forced labor.
– Federal officials have concluded that five Chinese solar panel companies are avoiding U.S. tariffs by redirecting operations through Southeast Asia.
– A federal judge in Tallahassee, Florida rejected attempts to block a law that would prohibit some Chinese citizens from purchasing land in Florida.
– Ken Griffin, founder of finance firm Citadel, reshapes new real estate bans on certain Chinese citizens. These changes would allow those with U.S. work permits to purchase land.
Associated News References:
“Trump, Biden policies shifted trade from China at a cost, study shows,” Reuters, August 26
“State lawmakers move to ban Chinese land ownership,” The Washington Post, August 21 [Paywall]
“EV battery imports face scrutiny under US law on Chinese forced labor,” Reuters, August 19
“Feds determine five Chinese solar panel companies have been skirting US tariffs,” CNN Politics, August 18
“Federal judge rejects push to block Florida Chinese land ownership law,” Politico, August 17
“Ken Griffin Reshaped Law Banning Chinese Real Estate Purchases,” Bloomberg, August 16 [Paywall]
“Exclusive: State Dept picks veteran diplomat Lambert as top China policy official – sources,” Reuters, August 29
“Trustar plans to raise fund to manage McDonald’s China stake -sources,” Reuters, August 28
“China’s ‘aggressive behaviour’ in South China Sea must be challenged, US Navy official says,” Reuters, August 27
“3M settles US anti-bribery law charges in China unit, SEC says,” Reuters, August 25
“China Casts CIA as Villain in New Anti-Spying Push,” The Wall Street Journal, August 24 [Paywall]
“Biden resists pressure from lawmakers and seeks short extension to key China science pact,” CNBC, August 23
“Germany plans to double AI funding in race with China, U.S.,” Reuters, August 23
“US approves possible sale of F-16 search and track systems to Taiwan,” Reuters, August 23
“An ex-Googler takes aim at China,” Politico, August 22
“U.S. to Sanction Chinese Officials for Forcible Assimilation of Tibetans,” The Wall Street Journal, August 22 [Paywall]
“White House: China economic data less transparent in recent months,” Reuters, August 22
“British firms quizzed on Chinese tech links as US-style clampdown looms,” Politico, August 21
“China investigates citizen accused of spying for CIA -security ministry,” Reuters, August 21
“Intelligence Agencies Warn Foreign Spies Are Targeting U.S. Space Companies,” The New York Times, August 18 [Paywall]
“Pentagon biodefense review points to Chinese, Russian threats,” The Washington Post, August 17 [Paywall]
August 25 hosted by International Institute for Strategic Studies
August 21 hosted by U.S.-China Economic and Security Review Commission
August 16 hosted by United States Heartland China Association and University of Missouri-St. Louis
August 30 hosted by Chatham House
August 30 hosted by Brookings
August 30 hosted by Center for Strategic and International Studies
August 31 hosted by Center for Strategic and International Studies
September 7 hosted by Brookings
September 18 hosted by Carnegie Endowment for International Peace
October 12-13 hosted by American Conference Institute
October 18 hosted by Victims of Communism
November 1-2 hosted by The China Project
Stay Tuned for Information Regarding the ICAS 2023 Annual Conference!
On October 17, 2023, ICAS will be holding its 2023 Annual Conference out of Washington, DC! This year, our expert panelists and keynote dialogue participants will focus on “Assessing Challenges and Exploring Prospects for U.S.-China Relations in 2024.”
Subscribe to our newsletters and follow us on social media to stay informed about speakers, co-hosts, full agenda and how to reserve your spot for this in-person conference.
By Amanda Jin
August 22, 2023
On August 21, 2023, the U.S.-China Economic and Security Review Commission (USCC) held a hearing on “China’s Current Economy: Implications for Investors and Supply Chains.” The hearing was divided into two panels. Panel I, “China’s Domestic Financial Situation” featured three speakers: Logan Wright, Partner and Director of China Markets Research at Rhodium Group; Nicholas Borst, Vice President and Director of China Research at Seafarer Capital Partners; and Zongyuan Zoe Liu, Maurice R. Greenberg Fellow for China Studies at Council on Foreign Relations. Panel II, “U.S.-China Trade and Supply Chains,” featured two speakers: Christopher Gopal, former executive and global supply chain consultant; and Ilaria Mazzocco, Senior Fellow with the Trustee Chair in Chinese Business and Economics at Center for Strategic and International Studies…
August 4-18, 2023
On August 4, 2023, ICAS Executive Director Dr. Nong Hong participated in the Bai Xian Asia Institute Summer Program 2023, which was co-hosted with Waseda University. Dr. Hong spoke on “Pressing issues related to maritime security in East Asia” and “Recent Sino-US relation and its impact on East Asia.”
About the BXAI Summer Program 2023
From August 4-18, approximately 70 Bai Xian Scholars and Alumni from universities across East Asia gathered together and explored the theme “Transformation of Globalization,” examining how globalization has shifted and evolved over the past few years against a backdrop of an ever-changing global landscape…
On Tuesday, August 29, 2023, Senior Fellow Sourabh Gupta was quoted in China Daily on the 15th BRICS Summit.
On Friday, August 25, 2023, Senior Fellow Sourabh Gupta appeared on Sputnik Radio’s The Final Countdown show to discuss the 15th BRICS Summit in Johannesburg, South Africa and the potential addition of new members to BRICS.
On Tuesday, August 22, 2023, Senior Fellow Sourabh Gupta discussed the ongoing 15th BRICS Summit in South Africa on CGTN America’s The Heat.
On Sunday, August 20, 2023, Senior Fellow Sourabh Gupta was quoted in the South China Morning Post on the current geopolitical state of affairs regarding Afghanistan two years after the United States’ exit.
On Wednesday, August 16, 2023, ICAS Trade ‘n Technology Program Advisor Denis Simon was quoted in The Wall Street Journal on the dangerous deterioration in U.S.-China scientific collaboration.
On Wednesday, August 16, 2023, Senior Fellow Sourabh Gupa discussed the increase in direct flights between the U.S. and China and its implications for people-to-people exchanges on CGTN’s World Insight.
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