Economics
U.S. Finds Allies to Challenge China’s Trade Tactics
- Europe, Japan join U.S. to target overcapacity, IP transfers
- U.S. balances China trade actions with North Korea cooperation
A gantry crane stands next to shipping containers stacked at the Xiamen Songyu Container Terminal at night in Xiamen, China, on Saturday, Jan. 30, 2016.
Photographer: Qilai Shen/Bloomberg
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The U.S. finds itself isolated in its efforts to temper support for globalization. It’s having greater success rallying rich countries to rein in a common rival: China.
At the World Trade Organization meeting this week in Buenos Aires, the U.S., European Union and Japan agreed to target excess capacity in important industries and called on countries to curb state financing. While the declaration didn’t name China, it’s an implicit warning to President Xi Jinping that they’re losing tolerance with its state-driven model.