(Keith Bradsher & Alan Rappeport – New York Times)
China has struck a hard stance on the issue at the root of the looming trade fight between Beijing and Washington: China’s government-led drive, which Washington describes as breaking international rules, to build the cutting-edge industries of the future.
Chinese officials in recent days have been defending the government’s ambitious plan, known as Made in China 2025, to create globally competitive players in industries like advanced microchips, driverless cars and robotics. While Beijing has signaled a willingness to compromise on other matters, the intractable standoff over its core industrial policy could prolong a trade fight that has already shaken markets and led to concerns about a full-blown trade war.
“We are three years into the implementation of Made in China 2025, and we will keep going,” Miao Wei, China’s minister of industry and information technology, said on Monday, the last day of a three-day economic policy forum in the Chinese capital. Click here to read more.