US-China relations continue to experience profound structural changes and foundational shifts that affect the global economic tensions between the countries. The relationship is only expected to grow in complexity as the US and Chinese governments take legal, regulatory, and policy actions that have far-reaching effects—both within the countries and among their global partners.
Over the past several years, Washington, DC, and China have engaged in a push-pull relationship that has resulted in new rules and amendments to existing ones—many of which exacerbate global supply chain, capital flow and market access, technology cooperation/transfer, and talent mobility issues.
Similar to past actions by the United States, Australia, the United Kingdom, the European Union, and Japan, China has restructured its export controls and sanctions, foreign investment review, and policy mandates—inserting another player into the mix that adds to the already daunting myriad of requirements.
Given the United States’ current stance on China as reflected in executive orders, study mandates, and executive branch actions from the US departments of Commerce, Treasury, State, and Defense—as well as the conflict in Ukraine that could position the countries at policy odds—we expect enhanced and more complex regulations, policy updates, and sanctions impacting US-China relations for quite some time.
China is likely to continue its proactive and reactive approach by issuing laws and regulations it views as counterbalancing the requirements of the United States and other countries.
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Giovanna outlines background US government actions that have elicited responses from the Chinese government. She highlights that China has signaled preliminarily there is a list of negotiating points that it would like to discuss with the Biden Administration.
Kenneth discusses the expanded definition of what constitutes an important industry relevant to national security.