689: Megacorporations have no desire to decouple from China; back to Beijing’s sham promises? @AlanTonelson, @GordonGChang,
Image: Office of the Secretary - SECRETARY DONALD EVANS TRADE MISSION TO CHINA Alan Tonelson, independent economic policy analyst who blogs at RealityChek and tweets at @AlanTonelson, and @GordonGChang, in re: China tech and trade policies in a Biden administration. . . . Why does President-elect Biden think the Chinese will be more reliable now than in the past? He’ll shower tech companies with major subsidies to help them keep up with China—but they rely on doing business with China and have no desire to decouple from China. The World Trade Organization is highly political; Trump has defanged it to a large degree. Biden will want to reduce tariffs against China, will be tempted by Chinese promises to cut back on emissions in exchange for reduction of tariffs, although the promises will be bogus and unenforceable. Some GOP have seen [what China is doing], but others are stuck in old ways. Expect steel and aluminum tariffs on US allies to be lifted. https://asia.nikkei.com/Business/Business-trends/Tech-after-Trump-What-a-Biden-win-will-mean-for-Asia