By Chen Zi (People's Daily Online) 13:21, December 15, 2023 Cartoon by Ma Hongliang The U.S. government recently enacted the provisions of the Inflation Reduction Act, barring electric cars from qualifying for full tax breaks if battery components were manufactured or assembled by countries like China. This is how the U.S. politicizes economic issues and deliberately sets up trade barriers in the battery supply chain, in an attempt to suppress China's new energy industry chain. Chinese firms account for more than 50 percent of the global EV battery market and satisfy as much as 90 percent of demand for some battery materials, according to BloombergNEF, Bloomberg's primary research service. This has severely disrupted global industrial and supply chains and heightened the risk of a fragmented global economy. Competition should be fair and rational. The U.S. should earnestly fulfill its WTO obligations and uphold the authority and effectiveness of multilateral trading regimes. |
Rural Entrepreneur Helps Farmers Attain Wealth by Raising CattleChina urges US, Japan, Philippines to stop undermining regional peace, stabilitySydney attack victims include a mother who saved her baby, a Chinese grad student and an architect4th China International Consumer Products Expo to Kick off in HainanStudents Enjoy Science Classes at Primary School in China's XiangtanShanghai Strengthens Prevention of Juvenile DelinquencyWorld Autism Awareness Day Marked at a Kindergarten in BeijingChina's Maternal, Infant Mortality Rates Continue to DropDiscovering Ocean's Poetic CharmsPeople Pay Tribute to Deceased Ahead of Qingming Festival in Beijing