This hearing will examine, among other things, China’s energy needs and clean energy policies, the recent developments in the U.S.-China clean energy cooperation, and the implications of such cooperation for the United States.
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Highlights of this Month's edition: U.S.-China bilateral trade fell in February, mostly due to a plunge in U.S. imports from China, with a net positive effect for the U.S. trade balance; USTR publishes 2014 National Trade Estimate report detailing major trade barriers; WTO hands U.S. victory in rare earth case, but partial win to China on U.S. trade remedies law case; February exports drop significantly, resulting in a rare monthly trade deficit; Chinese policymakers say they could tolerate slower growth but evidence is conflicting: the government has allowed two small firms to default, but at the same time, the government has taken new measures to stimulate growth; Agricultural products dominate U.S. exports to China, but they are underperforming; bulk items, mostly soybeans, dominate exports, while Chinese government restricts access for U.S. consumer foods.
This hearing will address China’s recent healthcare reforms, market access for U.S. medical goods and services in China, and the safety of medical products imported from China into the United States. China is growing more affluent and urbanized, and is also facing new healthcare challenges. The Chinese government has launched ambitious reforms to expand coverage and improve care. This hearing will consider whether U.S. drug and medical device makers are able to compete in China’s market. It will also assess the U.S. Food and Drug Administration’s ongoing efforts to regulate drugs and drug ingredients imported from China into the United States.
This paper provides an overview and assess key points of China’s 2014 Government Work Report’s plans for financial system liberalization, fiscal reform, administrative reform, environmental regulation, urbanization and rural land reform, and healthcare reform.
The U.S. trade deficit with China continues to grow but at a slower rate. A key reason for this is the boom in U.S. automotive and aerospace shipments to China. As China becomes more affluent and urbanized, ordinary Chinese are driving more cars and traveling more by frequently by air. China’s future demand, however, could be affected by pollution, traffic bottlenecks, and other factors. U.S. companies must also contend with China’s industrial policy, which tilts the playing field toward domestic industry. In the long run, technology transfer and off-shoring could erode U.S. competitiveness and take business away from U.S. plants.



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