Trade conflicts

22.12.2020

Sanctions against Russian and Chinese enterprises were imposed by representatives of the United States Department of Commerce.

In total, more than 100 companies were included in the list. According to Washington, these enterprises cooperate with the armed forces of two countries. They use American technology to develop their military programs. At the same time, Department of Commerce noted that this is only the first part of the list. Now organizations will not be able to purchase a number of goods and technologies from the United States.

Foreign publications also report on the coal shortage that has arisen in China due to the trade conflict with Australia.


It should be reminded that the Australian government called for an investigation into causes of the COVID-19 pandemic in China in the spring, including possible concealment of the epidemic by the Chinese government at an early stage. In response to those demands, the Chinese government accused Australia of dumping and imposed increased tariffs on a range of Australian raw materials and goods, from barley and lamb to wine. The Australian government has been protesting for months against China's de facto sanctions on Australian raw materials and announced a formal complaint to the WTO last week.

"Import restrictions are enough to change situation in the industry", the Financial Times quoted one of the Directors of Chinese energy company China Huadian Corporation. — Many local plants and stations depend on Australian coal, which is very energy efficient. Now they are having trouble finding an alternative".

In early December, Hunan provincial authorities announced that government agencies would reduce electricity consumption to save money, and street lighting in cities would be turned off at night. It is also reported that several high-rise buildings in provincial capital city of Changsha cut off the power supply to elevators, as a result of which office employees had to use only stairs in order to get to their jobs. Thermal coal stocks in China's leading raw material port of Qinhuangdao have fallen to a two-year low, while local coal prices have increased more than 60% since May, when China entered a trade confrontation with Australia, according to Sunsirs consulting company.

 




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Saved: 01.12.2022




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