Palki Sharma on her show, Vantage, discussing new tariffs and restrictions on China. "West Attacking China's Economy on Multiple Fronts?" From YouTube.
Indian journalist Palki Sharma used dramatic language to describe a handful of efforts by Western countries to apply pressure against China’s global economic growth and power, calling it “just short of an actual confrontation.”
not just a simple rebuke this time. The West seems to have launched a multi-dimensional attack China, on the Chinese economy and their diplomatic aggression
Palki Sharma, Vantage, Firstpost, June 13, 2024.
The major items mentioned in this piece are three:
- The EU Commission has announced “countervailing duties” on Chinese electric vehicles, increasing the tariffs on these imports between 17 and 38%. This follows a US move to increase tariffs in the same category to 100% a month ago.
- New US chip export restrictions: The US is targeting patented Gate All Around (GAA) chip technology, that allow for “continuous scaling.” This would make it harder for China to enjoy the computing gains of the new chip architecture.
- Expanded sanctions on Russia. China would face greater to sanctions as a result of trading restricted products with blacklisted Russia.
There was an additional symbolic move by the Canadian parliament to show support for Tibet. China doesn’t like to have its authority questioned and it brings the Tibetan struggle for freedom (and then survival) back to light.
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Monkton likes the way Palki Sharma makes the West’s actions sound: A Batman-like “SLAP!!!” to Xi Jinping, right on his dictator face.
But the described actions, while laudable, fall far short of what Jonathan Ward calls “economic encirclement”, in which China is truly deprived of the free-market oxygen it gets from trading with Western powers. It is merely a first couple of steps, showing an intention of the West to not let China overrun the world. But we don’t have have broad agreement to work systematically to check China’s growth by dramatically cutting capital inflows and making it harder for China to use Belt and Road to gain leverage over more countries, while proving Beijing with more strategic resources and positions to draw on.
Palki Sharma is not one to shrink from calling out China, but her language suggests that the cold war is a step away from becoming hot. Maybe, but not because of these moves. Taiwan and the Philippines are still the most obvious powder kegs.
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News articles mentioned in the above clip:
“US weighs more limits on China’s access to AI chips, Bloomberg reports”. Reuters. June 12, 2024. https://www.aol.com/news/us-weighs-more-limits-chinas-161949410.html
“U.S. Expands Sanctions on Russia as G7 Leaders Gather”. New York Times. June 12, 2024.
https://www.nytimes.com/2024/06/12/us/politics/us-russia-china-sanctions-g7.html
“Canadian Parliament supports Tibet’s self-determination”. Radio Free Asia. June 11, 2024.
https://www.rfa.org/english/news/tibet/canadian-parliament-supports-tibets-self-detrmination-06112024195932.html
