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The Exchange - January 05, 2022

2022-01-05
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  • China’s Economy to Overtake the U.S. Economy by 2030 | British consultancy, Centre for Economics and Business Research (CEBR), predicts that China's economy could overtake the U.S. economy by the year 2030, as it increasingly relies on state investment, high-tech development, and domestic consumption. Observers note that China’s growth is coming at a time when the U.S. is prioritizing a “made-in-America” method, which could deepen tensions between the U.S. and China, whose working relationship is largely based on economic ties.
  • Impact of 2022 U.S. Midterm Elections | Entering 2022, the U.S. political landscape will largely be focused on the upcoming November midterm elections. Although these elections traditionally center on domestic issues, experts in China believe that election results could have a major impact on the Biden administration's policy towards China if the U.S. government is divided in its approach.
  • U.S. Companies Pull Xinjiang Products | On December 23rd, 2021 U.S. President Biden signed into law the Uyghur Forced Labour Prevention Act, banning imports of products from China made in Xinjiang. Although the law goes into effect in June, major U.S. brands, including Walmart, Sam's Club, and Nike have already begun to pull Xinjiang-produced products. China criticized these moves by companies quoting "stupidity" and "shortsightedness." On the other hand, Tesla announced that it will open a Tesla Show Room in Xinjiang, drawing much criticism in the U.S.

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