U.S. Trade Spat with China Escalates, But is Unlikely to Cause a Significant Rift
Jason Simpkins (September 22nd, 2009) Writes:
China is Investing Billions in Renewable Energy One firm has already built China’s largest wind turbine manufacturing factory. And it’s working with the Chinese Science Academy to develop new wind, solar, and geothermal technologies… for which it will own 70% of the rights. But this company’s business reaches far beyond the Chinese border, with operations in Southeast Asia, the Middle East, Africa and Eastern Europe. It’s first quarter net income increased by 294% over a year ago. Click here for the full report.
Shortly after U.S. President Barack Obama announced hefty import duties on Chinese-made tires, China’s Ministry of Commerce over the weekend said it would explore possible sanctions against U.S. automobile and chicken imports.
The dispute has caused some concern over an escalation in protectionist measures between the two nations, but few analysts believe the dispute will spiral out of control and threaten a global recovery.
President Obama on …
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