Here at our CUSEF blog, we share news, updates and stories about China and the United States. We provide more than a cursory glimpse of what’s going on between the two powers - here, we offer an in-depth look into their current state of affairs.

CUSEF Express

CUSEF Express - May 18, 2022

Daily highlights of developments that affect China and the U.S.
Daily highlights of developments that affect China and the U.S.

China underwrites platform, private economy development

  • Speaking to executives of China’s top companies on Tuesday, Chinese Vice Premier Liu He pledged to support the private sector and platform economy. He also said that the government would support tech firms to go public at home and abroad. Liu made the comment at a symposium facilitated by the Chinese People’s Political Consultative Conference (CPPCC). Liu’s remarks signaled an easing of an anti-trust campaign that heavily hit Didi Chuxing and Alibaba’s Ant Group.

U.S. to step up export violation penalties

  • The U.S. was planning to ramp up the penalties for violations of export restrictions related to national security, said Matthew S. Axelrod, a senior official from the Department of Commerce’s Bureau of Industry and Security. Russia and China are at the center of these export controls.

  • When asked for comments on the issue, a spokesperson of the Chinese Foreign Ministry said he was not aware of it but stressed that China opposed the U.S. repeatedly “stretching the concept of national security and abusing state power to hobble specific countries and businesses.”

Turkey throws wrench into NATO’s Nordic expansion

  • Finland and Sweden submitted their applications for NATO membership today. But to join the military alliance, they need to overcome Turkish objection because NATO requires a unanimous agreement to invite a new member. President Recep Tayyip Erdogan confirmed Ankara’s opposition to the countries’ accession to NATO, citing their ambiguous attitude towards terrorism and Sweden’s 2019 arms sales ban against Turkey.

Petrol shortage aggravates Sri Lanka’s crisis

  • The debt-laden Sri Lanka is facing a dire shortage of petrol. On Monday, the new Prime Minister Ranil Wickremesinghe warned that the country only had petrol for “a single day” and that “the next couple of months will be the most difficult ones” of Sri Lankans’ lives. Last Friday, Colombo had already announced a plan of power cut for this week.
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