The trade war is ramping to higher levels. President Trump’s new tariffs on $200 billion worth of Chinese goods start on Monday, and he has threatened more. China had already retaliated with tariffs of its own. China has canceled high-level talks planned for this week.
Yukon Huang laid out a solution to the trade war. He is a senior fellow in the Carnegie Asia Program.
Turning to the World Trade Organization (W.T.O.) is currently a nonstarter, but its appeal will increase as the conflict drags on.
The W.T.O. as currently structured cannot adequately deal with a state-driven economy like China’s, as Mark Wu, a law professor at Harvard, has argued. China has cut back on directly subsidizing exports which are a clear violation of W.T.O. guidelines. Many Chinese companies still benefit indirectly from access to underpriced state-owned land and privileged relations with local authorities and banks, and those issues are not explicitly covered in the regulations.
Just last week, the European Commission proposed reforming the W.T.O., with new rules to deal with forced technology transfers and the rise of e-commerce.
Europe and China could work out the terms that address key complaints from the USA.
The White House could also point to any thorough overhaul of the W.T.O. as a victory, and an admission on China’s part that the United States’ concerns were legitimate. It could then address any specific issues that remained in a bilateral investment treaty, which the U.S.-China Business Council has been advocating.
Brian Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of
nextbigfuture.com, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.
