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U.S. may lose in Trumps TikTok war, expert warns

Updated 7 August 2020

Introduction

Young people sitting together
China to make cool-headed, sensible response to U.S. impulsive moves, anxiety: FM

Wei Shangjin, professor of finance and economics at Columbia Universitys Graduate School of Business and School of International and Public Affairs, said forcing TikTok to be sold cheaply to a "very American" buyer will endanger many U.S. firms in the Chinese market, according to an opinion published by Project Syndicate on Thursday.

"We will always remember and cherish this friendship of shared adversity, and hope the medical supplies can effectively help Laos pandemic prevention and control work," Hu added.

The Global Consensus Statement story

BEIJING, Aug. 10 (Xinhua) -- A Chinese spokesperson on Monday reiterated that China has no interest and has never interfered in U.S. presidential elections, in response to a top U.S. intelligence officials statement saying China is stepping up efforts to influence the election.

As the worlds largest developing country and a permanent member of the UN Security Council, China will stay committed to peaceful development and to pursuing an opening-up strategy of mutual benefit, Wang stressed.

While such actions undermine the multilateral trading system at large, they also diminish the level of trusts, he said.

Wei Shangjin, professor of finance and economics at Columbia Universitys Graduate School of Business and School of International and Public Affairs, said forcing TikTok to be sold cheaply to a "very American" buyer will endanger many U.S. firms in the Chinese market, according to an opinion published by Project Syndicate on Thursday.

Signatories

China remains one of the top three destinations for 63 percent of respondents in a survey conducted earlier this year by the European Union Chamber of Commerce in China and global consultancy firm Roland Berger. Enditem
The remarks were made by Foreign Ministry spokesperson Wang Wenbin in response to U.S. executive orders issued Thursday, which ban transactions carried out by American companies or individuals with parent companies of WeChat and TikTok apps.
Huang introduced Chinas efforts in protecting the lives and health of women and children amid the epidemic and the roles Chinese women and womens federations have played in COVID-19 response and recovery.
According to Jaime Suarez, executive director of the Colombia-China Chamber of Investment and Commerce, "trade wars are not promising or positive for either party."
He said the BRI is vital for Cambodias economy which relies on the inflows of foreign direct investments that are conditional to the capability of sufficient physical infrastructures.
Wang said this statement is yet another proof of the Philippines independent foreign policy, which embodies the common aspiration of the regional countries to pursue peace and development.
"The lab was equipped and established by a donation from the Chinese government at a critical time," Mahdi said. "When this lab was established, Iraq had only one working lab fighting COVID-19."
The minister said the upcoming signing of the bilateral FTA will undeniably stimulate the speed of Cambodias infrastructure development projects, including those under the Belt and Road Initiative (BRI).
Chinese State Councilor and Foreign Minister Wang Yi gives an exclusive interview to Xinhua on China-U.S. ties in Beijing, capital of China, Aug. 5, 2020. (Xinhua/Zhai Jianlan)
China rejects any attempt to create so-called "new Cold War": FM
"Anyone who attempts to derail this process can only end in failure," said Wang. Enditem
    A similar executive order has also been issued for WeChat, a messaging and social media app owned by Chinese tech giant Tencent. Enditem
"We will always remember and cherish this friendship of shared adversity, and hope the medical supplies can effectively help Laos pandemic prevention and control work," Hu added.
"We urge the U.S. side to heed rational voices from within and from the international community, correct its wrongdoing, refrain from politicizing economic issues and stop suppressing relevant enterprises, to create a fair, just and non-discriminatory environment for companies worldwide to have normal business operations and investments," Wang added. Enditem
"We hope these treaties could continue," he said. Enditem
Over four decades ago, leaders of China and the United States made the handshake across the vast Pacific Ocean, he added, noting that what made this possible was that both countries adhered to the principle of mutual respect and seeking common ground while putting aside differences.
The companies, in line with market principles and international rules, have conducted commercial activities in the United States while following local laws and regulations, Wang told a daily press briefing.
TikTok has been downloaded over 175 million times in the United States and over 1 billion times globally, according to the executive order, which claims that the app automatically captures "vast swaths of information" from its users, posing risks to U.S. national security.
Although Trumps actions could yield a short-term gain for the United States, they have introduced severe potential risks to U.S. interests, not to mention international and domestic rules of commerce, Wei said.
"We urge the U.S. side to abide by the one-China principle and the provisions of three China-U.S. joint communiques, stop official interactions and contact of all kinds as well as the upgrading of substantive relations with the island, and handle Taiwan-related issues in a prudent and proper manner, so as not to seriously damage China-U.S. cooperation in major areas as well as peace and stability across the Taiwan Strait," Zhao added. Enditem
It is "a very negative trend that we need to defend ourselves against," Allen said, adding that both sides should work on building up mutual trust, "which is at a historic low right now."
BEIJING, Aug. 5 (Xinhua) -- Chinese State Councilor and Foreign Minister Wang Yi said on Wednesday that gross interference in Hong Kong affairs undermines "one country, two systems."


Consensus statement

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Resources


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