The draft rules, which would build on the 2022 WTO Agreement on Fisheries Subsidies, are intended to create an element of fairness currently missing in the global fishing sector. They should allow developing countries that have small fishing industries — and that provide only minor capacity-enhancing subsidies to their fishers, if any — to grow … Read more
“The number one issue is not NATO, not even Ukraine, as serious as that is. The number one issue is the displacement of Chinese exports that are going to the U.S. and will now go to Europe,” said Anthony Gardner, who served as U.S. ambassador to the European Union just before Trump’s first mandate. “There … Read more
Volkswagen’s (VW) sale of a controversial plant in China will come as a relief to the German carmaker, as it rationalises its flagging operation amid cutthroat competition in the world’s largest automotive market, industry observers say. The divestment could see international carmakers reduce their capacity by as much as 10 million units on the mainland … Read more
The leadership agreed to grant local governments more “autonomous fiscal capacity”, allowing them to increase their tax sources and “appropriately” expand their management authority relating to taxation, the document revealed. The policy measures from the four-day, closed-door plenary session – aimed at laying out China’s economic road map for the medium term – come as … Read more
FASANO, Italy — G7 leaders are set to warn China over its trade practices, which include “harmful overcapacity” and “market distortions,” according to a draft statement seen by POLITICO. “We are not trying to harm China,” the leaders say in the latest G7 summit statement, but “we express our concerns about China’s persistent industrial targeting … Read more
“We’ve been clear with China that we see Russia as gaining support from goods that China, Chinese firms are supplying to Russia,” Yellen told journalists in Guangzhou. “Neither of us want this to be an issue with our bilateral relationship. So we’re working together,” she added. Since Russia’s invasion of Ukraine began, Beijing’s ties with … Read more
