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 - November 24, 2022

2022-11-24
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Fed signals slower rate rises

  • The November meeting minutes of the Federal Open Market Committee (FOMC) released yesterday read that “a substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate.” The Fed officials also viewed a recession in 2023 “as almost as likely as” sluggish economic growth.

China to further ease monetary policy

  • “We will use monetary policy tools such as cuts in the reserve requirement ratio (RRR) in a timely and appropriate way to maintain reasonable and sufficient liquidity,” said Chinese Premier Li Keqiang at a State Council meeting (Zh) on Tuesday. Usually, China’s central bank would impose a reduction in the RRR, which is the ratio of cash banks required to reserve, within days of such an announcement.

China releases 16-point property policy

  • The People’s Bank of China (PBoC) unveiled a 16-point financial package (Zh) yesterday, seeking to prop up its property sector troubled by bad debts. On the same day, four leading Chinese state-owned banks announced RMB 220bn ($30.7bn) in new credit lines for real estate companies. The four banks are the Bank of China (BoC), the Bank of Communications (BoCom), the Industrial and Commercial Bank of China (ICBC), and the Agricultural Bank of China (ABC).

Austin comments on meeting with Wei

  • After meeting with Defense Minister Wei Fenghe in Cambodia, U.S. Defense Secretary Lloyd Austin told reporters that he believes China is preparing to shield itself from international rebuke if it takes more assertive actions regarding Taiwan.

  • “China is our basic challenge. We don’t call them a threat, we call them a challenge. That’s the relationship that we believe we have,” the Pentagon chief said. “We have a competitive relationship and not a contentious relationship.”

Netherlands resists U.S. pressure on China chip bans

  • Dutch Foreign Trade Minister Liesje Schreinemacher insisted that the country would decide independently on ASML’s chip equipment sales to China. “It is important that we defend our own interests -- our national safety, but also our economic interests,” Schreinemacher told Dutch lawmakers on Tuesday. “If we put that in an EU basket and negotiate with the U.S. and in the end it turns out we give away deep ultraviolet lithography machines to the U.S., we are worse off.”

Anwar becomes Malaysian prime minister

In first, UK sends piloted aircraft to Ukraine

  • The UK, the second largest military donor to Ukraine, is sending the country helicopters, the first piloted aircraft since the war started in February. The three Sea King helicopters, crewed by ten Ukrainian soldiers and engineers, were part of a £50 million defense aid package including 125 anti-aircraft arms and equipment. British Defense Secretary Ben Wallace said the UK will deliver 10,000 more artillery rounds to Ukraine.


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