Over the last few months, both the US and China have increased engagement with international partners in multilateral fora. In light of US-China tensions, these summits can be seen as attempts by both countries to win over partners for their cause. Most countries try to remain outside of the bilateral competition, but as the US and China are ramping up their efforts, it might become more difficult for countries to remain neutral.
By Experts Table.Briefings
The Chinese Purchasing Managers' Index (PMI) for the manufacturing sector fell below 50 in April, signaling a significant slowdown in the economic recovery. As the sub-index for new export orders remained stable, the decline can mainly be attributed to declining domestic demand.
By Experts Table.Briefings
Four months after dropping the strict zero-Covid policy, unemployment among China's youth continues to rise. However, the country's economic weakness cannot be the sole reason, as overall unemployment is gradually declining. Rather, the main causes appear to be a lack of prospects for college graduates.
By Experts Table.Briefings
China tightly controls about three-quarters of global refined cobalt production. Its share in chemical refining for the production of batteries is even larger. China thus dominates the global supply chain for lithium batteries – from the ore to processing, from active materials to cells, and ultimately to the packs.
By Experts Table.Briefings
Just as the overall Chinese economy in the first full quarter after the end of “zero-COVID”, the automotive sector also exhibits a mixed picture in terms of post-pandemic recovery. The total retail sales of Passenger Vehicles in Q1 2023 recorded a sharp decrease compared to the same period in 2022. However, premium car sales have consistently outperformed the overall sector with high growth. This sharp segregation of consumption demands is likely to remain in place in the foreseeable future.
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In 2022, China's exports of photovoltaic (PV) products increased by 80.3 percent. PV exports have increasingly become an important component of China’s foreign trade and economic promotion. However, this high export growth in PV products may be disrupted by supply chain resilience initiatives in the EU and the US.
By Experts Table.Briefings
On 31st of March 2023, the Cybersecurity Review Office under the Cyberspace Administration of China (CAC) launched a cybersecurity investigation into the local sales of US memory chip company Micron. The official reason was concerns about supply chain security of critical information infrastructure. This is the first case of cybersecurity investigation into the products and services of a foreign company. In the context of the US-China tech war, this case might represent an example of how regulatory tools can be used for political objectives.
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Over decades, China has built a highly sophisticated toolbox of industrial policy instruments to steer economic activities and incentivize companies to act in accordance to political guidelines and objectives. One of the functions of this toolbox is to shape the role of foreign companies in the Chinese market, especially by setting localization expectations and requirements. The intensity of localization pressure depends on product type, industry and competition.
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The European Critical Raw Material Act is a necessary attempt to reduce the risks of excessive dependence on China in the raw materials market. However, as effective reduction of dependencies will be a decade-long effort, companies are advised to carefully review their supply chains for critical vulnerabilities
By Experts Table.Briefings
After lifting all travel restrictions that were put in place since the beginning of the Covid-19 outbreak, Chinese tourism is gaining pace again. While the numbers are not expected to reach pre-Covid heights, industry experts are optimistic about domestic tourism, while outbound tourism is expected to recover more slowly.
By Experts Table.Briefings
