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Abe, Shinzo: Trump’s 2017 meeting with, 171; Xi’s 2018 meeting with, 302–3; Xi’s 2019 meeting with, 373–74
academics, China’s challenge to U.S. underplayed by, 124–25
Adelson, Sheldon, 276–77, 279, 417
Advanced Micro Devices Inc. (AMD), 267–68
Advanced Micro-Fabrication Equipment Inc. (AMEC), 262–64
aerospace and avionics industries, 123, 257–59, 297. See also specific companies
AFL-CIO, 89
agricultural production, in China, 43, 383
agricultural products, U.S., 2, 92, 178, 181, 196, 286, 318, 319; Chinese approval of genetically modified crops and, 315–16; Chinese health regulations and, 369; Chinese pledge to increase purchases of, 2, 233, 301, 319, 321, 323, 347–48, 349, 350–52, 353, 356–57, 365, 368, 369, 372, 375, 382–84; Chinese retaliatory tariffs and, 13, 243, 246, 383; phase-one deal and, 375, 382–84; Trump’s program of farm payments and, 246, 339, 401. See also specific products
Agriculture Department, U.S., 126, 232, 246
Airbus SE, 57, 317, 403, 406
aircraft. See aerospace and avionics industries
Airway Industries Inc., 11
Albright, Madeleine, 71, 83
Alibaba Group Holding Ltd., 19, 278, 330
Alpe, Alex, 107–8
aluminum, 48; China’s massive, subsidized production of, 108–9, 110, 122, 405–6; Trump’s tariffs on allies and, 303, 337–38, 405; Trump’s tariffs on China and, 4, 29, 206, 208, 400
Amazon, 19, 330
America First, 34, 170, 395, 402
America We Deserve, The (Trump), 140
American Chamber of Commerce in China, 122, 252, 272, 273, 344. 379
American Chamber of Commerce in Shanghai, 344
American Chemistry Council (ACC), 260
American Express, 183
American Farm Bureau Federation, 286–87
American International Group (AIG), 58, 70, 121, 283
American Petroleum Institute, 286–87
American Soybean Association, 286–87
Americans for Free Trade, 287
Anbang Insurance Group, 209
Andringa, Jason, 412
AnKeProject, 391–93
antidumping cases, 109, 128
antitrust policy, U.S., 169
antitrust regulators, Chinese, 212, 250–52, 344; DuPont and, 250–52; Motorola and, 121; Qualcomm and, 246
Apple Inc., 121, 293
Apprentice, The, 162
APT 10 (Advanced Persistent Threat), 253–54
arbitration panels, international, 288, 376
Art of the Deal, The (Trump), 137, 138, 145, 169
artificial intelligence (AI), 31, 48–49, 51, 295, 387
Asia Society, 408
Asian financial crisis (1997 and 1998), 67, 69
Asian Infrastructure Investment Bank (AIIB), 148
Asian Tigers, 11
AT&T, 61, 62, 70
Australia, 29, 131, 254; RCEP and, 239–40. See also Trans-Pacific Partnership
auto industry, 32, 104, 106, 107, 121, 138, 139, 260, 282, 285, 317, 401; Chinese tariffs and, 204, 221, 308, 350; Clinton-era trade policy and, 58, 82, 84; electric vehicles and, 28, 123, 184, 243, 282, 328, 403; Guangrao’s Rubber Valley and, 106, 107; joint ventures and, 255; Trump’s tariffs and, 34, 169, 337, 405; Xi’s belief in state-owned enterprises and, 151. See also specific companies
auto parts, 46–50, 51–52, 110, 169, 178
automation, 118, 125
Autor, David D., 125–27, 134
Aviage Systems, 258
Aviation Industry Corporation (Avic), 258
Bai, Chong-en, 45
Baker, Gerard, 2–4
Ban Ki-Moon, 278
Banga, Ajay, 283, 284
banking sector, Chinese, 66, 75, 109, 184, 192, 285; state-owned firms, 103–4, 109, 110, 130, 380, 401; stimulus spending in response to global financial crisis of 2008 and, 103–4, 109–10
Bannon, Stephen K., 138, 141, 142, 143, 144, 146, 159, 161, 163–64, 168, 170, 177, 209, 275, 380, 382, 385, 421; blocking of steel and aluminum imports proposed by, 29; “flooding the zone” and, 166–67, 175–76, 405; on start of trade war, 243
Barra, Mary, 282
Barry, Lisa, 58
Barshefsky, Charlene, 203; China’s entry into WTO and, 71–77, 81–84, 93, 94, 95, 128–29, 315; human rights concerns and, 58; import-surge provisions and, 128–29
BASF, 316
beef sales, 182
Beijing, Trump’s November 2017 visit to, 192–95, 314
Belgrade, Yugoslavia, bombing of Chinese embassy in (1999), 78–81
Belt and Road Initiative, 18, 148, 181–82, 412
Berger, Sandy, 59, 83
Bernstein , Carl, 240
Better Tools Company, 268–69
Biden, Joe, 182
BlackRock Investment Institute, 283, 285
Blackstone Group, 8, 277–78, 294. See also Schwarzman, Stephen
Blair, Gwenda, 138
Blankfein, Lloyd, 193, 294
Bloomberg, 285, 381
Bloomberg Businessweek, 218, 368
blue-collar America, 115–34, 274; disruptive power of China trade on, 125–27; import-surge cases and, 127–29; layoffs in North Carolina and, 115–20, 126; opioid addiction in, 116, 120, 133; technology and automation as threats to, 118, 125; TPP and, 132–33; Trump’s appeal to, 133–34, 142
BMW, 46, 308, 330
Boao Forum (2018), Xi’s speech at, 216, 221, 278
Boeing Company, 51, 172, 258, 317, 378; China’s entry into WTO and, 70, 121; China’s MFN status and, 57–58, 91, 92
Bolton, John, 254–55, 327, 352, 353; at CEO Council (2018), 2–4; Huawei targeted by, 25–27
Bonior, David, 94–95
Bown, Chad, 398
Brady, Kevin, 262
Branstad, Terry, 190, 199, 250, 329
Branstetter, Lee, 260
Bravo, My Country, 240
Brennan, Margaret, 362
Brilliant, Myron, 91–92, 203, 276, 320, 364
Brown, Chad, 398
Brown, Ron, 57, 58, 59
Broyhill Furniture, 115, 119
Buenos Aires, G-20 summit in (December 2018), 14, 20, 300–309, 311, 314, 328, 343, 346, 350, 353; arrest of Huawei founder’s daughter and, 307–8; signing of new NAFTA accord at, 303; Trump and Xi’s dinner meeting at, 2, 14, 299, 300–301, 303, 304–6, 316; Trump’s views on his trade successes at, 308–9
Bush, George H. W., 1, 54, 55, 56, 58, 163, 304
Bush, George W., 89, 99–100, 102, 128, 129, 134, 144, 174, 203, 215
Business Coalition for U.S.–China Trade, 56–57
Business Roundtable, 93, 247, 249, 272–73, 286
Campbell, Kurt, 162
“Can a Tiger Change Its Stripes?,” 274
Canada, 207, 219, 254; arrest of Huawei’s chief financial officer and, 307–8, 392; Trump’s tariffs aimed at, 29, 175, 207, 209, 337–38. See also North American Free Trade Agreement
capitalism, capitalists, 6, 45, 105, 281, 302, 336, 350; China’s entry into WTO and, 33, 50, 65, 87; China’s hybrid of state planning and, 105, 144; Deng’s experiments and, 39, 43; as targets of Cultural Revolution, 40, 42, 67
Cargill Inc., 343–44
Carlyle Group, 199, 412
Carpenter, Seth, 297
Cassidy, Robert, 73, 76, 83, 97
Caterpillar Inc., 66, 316–17
Celanese Corp., 378
censorship, in China, 27, 80, 233, 307, 379, 395, 396; Internet and, 95–96, 356, 405
Center for Strategic and International Studies, 279–80, 377, 403
Central America Free Trade Agreement (CAFTA), 174
Central Intelligence Agency (CIA), 71, 392, 393
Central Leading Group for Financial and Economic Affairs, 201
Century Furniture, 117–18, 339–40
CEO Council, 1–4
Charlottesville, Va., white supremacists’ march in (2017), 190–92, 278–79
chemical companies, 40, 44, 50, 54, 250–51, 260–61, 298, 389
Chen, Hong-Yi, 44
Chen Ailian, 45–50, 51–52
Cheniere Energy, 234
Chicago Mercantile Exchange, 78
“Chimerica,” 4, 240–41
China: inevitable crossover point when U.S. economy is topped by, 396–97; ordinary Americans holding unfavorable view of, 31, 96–97, 394; possibility of real war between U.S. and, 3–4; souring of attitudes toward America in, 394–95; students and researchers from, in U.S., 416; U.S. business investment in, 116, 120–21, 393–94; U.S. business leaders with strong ties to, 56–58, 63, 247, 249, 274–80, 281–83. See also specific topics
China Development Forum, 293
China Film Group, 240
China International Capital Corporation, 343, 387
China Investment Corporation (CIC), 184, 278
China Mobile Ltd., 345–46
China National Chemical Corporation (ChemChina), 241
China Petroleum & Chemical Corporation (Sinopec), 193, 260–61
“China Syndrome, The” (Autor, Dorn, and Hanson), 125–27
China-U.S. Financial Roundtable (September 2018), 293–94
Chinese Academy of Sciences, 267, 394
Chinese Economists 50 Forum, 240–42, 294–95
Chinese People’s Political Consultative Conference, 101–2, 186
Christopher, Warren, 59, 60–61, 62, 68
Chrysler Corporation, 70, 123, 139
Cisco Systems, 253, 298, 345–46, 367
Citibank, 103, 151
Clinton, Bill, 33, 37, 53–64, 69–85, 140, 317, 348, 384; China’s entry into WTO and, 65–66, 69–85, 87–88, 89, 93–94, 95, 96, 105, 127, 315, 415, 418, 420; China’s human rights practices and, 54–64, 68, 70, 90, 93, 94, 247, 271; China’s MFN status and, 55–59, 61, 62, 63–64, 90–91, 92–93; economic priorities and, 53, 56–59, 62; Jiang’s relationship with, 60, 69–70; Zhu’s failed talks with, 66, 73–78, 301, 415, 418
Clinton, Hillary, 37, 102, 131; Chinese leaders’ relationships with, 162; as presidential candidate, 132–33, 134, 162, 279, 340; TPP and, 132–33
“Clinton coup,” 59
clothing makers, 40, 44, 54, 116, 126, 146, 238, 352, 357
cloud computing, 19–20, 253, 330–31, 365, 367, 369, 394
Coca-Cola Co., 378
Cohen, Mark, 210–11, 263
Cohn, Gary, 175–76, 177, 178, 185, 200, 204–5, 207, 208, 209, 222, 236, 309, 310–11, 329
Cold War against Soviet Union, 26, 157, 397, 398–99, 409–10, 414
Cold War II, 28, 198, 332–33, 336, 414; Ferguson on, 397–98
Collins, Loren, 143
Comey, James, 134
Coming China Wars, The (Navarro), 143
Commerce Department, U.S., 62, 92, 232, 259, 363; $250 billion of deals announced by (November 2017), 193; ZTE and, 221, 223–24
Commerce Department, U.S., entity list of: Huawei and, 26–27, 28, 267, 332–33, 346, 359–60, 366; semiconductor sector and, 267–69; ZTE and, 223–24
Commercial Aircraft Corporation of China (Comac), 257, 258, 259, 403
Commission on the Theft of American Intellectual Property, 209–10
Committee on Foreign Investment in the United States, 131
Communist Party, 14, 16, 37, 46, 49, 61, 63, 66, 130, 184, 193–94, 360; central role of, in directing economy, 38–39, 66; Wei’s family history and, 5–7; Xi’s affirmation and strengthening of rule by, 40, 51, 149, 156, 157, 158, 388, 402, 403
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), 409
Comprehensive Economic Dialogue, 173–74, 181–86, 188–89, 192
computer chips. See semiconductor sector
Confucius, 283, 313, 317
Congress, U.S., 1, 174, 180, 271, 393, 397, 410, 416; China’s entry into WTO and, 70, 72–73, 74, 87–94; China’s MFN status and, 55–56, 58, 90–91, 92–93; NAFTA renegotiation and, 29
Congressional-Executive Commission on China, 93
Consumer Technology Association, 286–87
corn, 233, 246, 286; China’s acceptance of genetically modified crops and, 315–16; textile fibers made from, 250–51
Corn Refiners Association, 286–87
Cornyn, John, 233–34
coronavirus pandemic, 8, 35, 375, 376, 378–79, 383, 420
corporate social credit system, 273, 402
Coryn, John, 259
Costco, 395
Cotton, Tom, 27, 224
credit card businesses, 182–83, 283, 284
Crescent Mayfab Luggage, 9–10
Cuba, 62–63, 223
Cui Tiankai, 162, 163–64, 171, 232, 281, 291, 370
Cultural Revolution, 6, 38, 40, 42–43, 46, 67, 149, 150, 152, 200, 281, 363, 419
Cummins Inc., 400
currency, Chinese (yuan), 31, 104, 130, 141, 167, 187, 201, 326; devaluations of, 14, 21, 69–70; foreign exchange policy and, 21, 108, 369, 374; foreign-exchange reserves and, 101, 108; freer, brief experiment with (2015), 155; global financial crisis of 2008 and, 100–102, 103–4; Treasury Department’s manipulation reports and, 180–81, 219, 354
Cutter, Bowman, 58–59
cyber espionage, 210, 212, 220, 249–50, 253–55, 301; Rose Garden Agreement of 2015 and, 131–32, 254; spearphishing and, 253–54
cybersecurity, 173; new Chinese law on, 273, 330; ZTE technology and, 225–26, 391
Daimler AG, 308, 330
Dalai Lama, 70, 171
Daley, William, 78
Davis, Bob, 372; family history of, 8–11; signing of phase-one deal and (2020), 420–21; Trump interviews by, 136–37, 181, 309
Davis, Michael, 8–11, 420–21
Davis, Steven, 310
Dealing with China (Paulson), 51, 130
Death by China (Navarro), 143, 217, 219
Defense Department, U.S., 253, 259
deficits. See trade deficits
Del-Nat Tire Corporation, 108
democracy, 88; American, Xi’s views on, 148–49; China’s entry into WTO and, 87–88; Western political and economic model and, 396. See also prodemocracy protests
Deng Xiaoping, 16, 40, 67, 112, 151, 163; joint ventures approved by, 255; party’s role in directing economy under, 38–39; persecuted in Cultural Revolution, 38, 43; power firmly held by, 147, 152, 198; “reform and opening-up” policy of, 38–39, 44–45, 46–47, 69, 154, 216, 241, 293, 295, 318, 387–88, 416
Development Research Center of the State Council, 297, 344
Digital Equipment Corporation, 121
disability payments, 116, 120, 126
DJI Sciences and Technologies Ltd., 389
Dobbs, Lou, 146, 277, 287, 324, 373, 382, 417; Mnuchin disparaged by, 227, 228, 246; as Trump’s trade guru, 141
Dole, Bob, 161, 188
Dongguan, Huawei’s R&D campus in, 366–67
Donilon, Thomas, 283, 285
Dorn, David, 125–27, 134
Dow Chemical Company, 251
Dow Jones (company), 420
Dow Jones Industrial Average, 146, 208–9, 247, 297, 309, 311, 342, 353, 362
DowDuPont Inc., 193, 316
Du Wenhua, 111
Du Yaliang, 244
Duan, Rachel, 259
Dubrow, Evelyn, 140
DuPont de Nemours Inc., 250–52
Eastman Kodak Company, 121
economists: China’s challenge to U.S. underplayed by, 124–25; disruptive power of China trade analyzed by, 125–27
Eissenstat, Everett, 207
electric motors, 238, 245
electric vehicles, 28, 123, 184, 243, 282, 328, 403
Electronic Data Systems, 123
electronic payment and processing services, 182–83
electronics industry, 13, 44, 54, 118–19, 126, 178, 266, 321, 389, 392
Elkhart, Ind., impact of tariffs in, 244–45
Ellings, Richard, 209–10
energy companies, 54, 155, 210, 388
energy products, Chinese purchases of, 181, 226, 232–33, 234, 315, 318, 321, 329
enforcement mechanism, 313, 320, 321, 374, 376–77; international arbitration panels and, 288, 376; terminology and rebranding of, 380
Ennis, Erin, 221
entity list. See Commerce Department, U.S., entity list of
environmental issues, 33, 34, 62, 90, 93, 129, 154, 260, 402
Equipment Development Department, Chinese, 295–96
espionage, 2, 4, 249–50, 254, 276, 310; Huawei products and, 360–61. See also cyber espionage
Eurasia Groupo, 32, 393
European Union (EU), 18, 112, 239, 240, 338, 400, 402; multilateral approach to China policy and, 405–6
European Union Chamber of Commerce in China, 123–24, 402
export controls, 184, 223, 228–29, 233–34, 377
Exporting America (Dobbs), 141
Facebook, 141
Fang Binxing, 95–96
Fang Xinghai, 205, 256
Fannie Mae, 130
Farm Bureau, 92
farm goods. See agricultural products, U.S.
Farmers for Free Trade, 286–87
Farmland Industries, 92
fascism, 144
Federal Reserve, 17, 103, 309–10, 314, 363, 399
FedEx, 151
Fengqiao experience, 40–41
fentanyl, 305, 306, 353
Ferguson, Niall, 240–41, 397–98
financial sector: Chinese, negotiations on openness and liberalization of, 14, 104, 181, 184, 294, 323, 365, 368, 369, 372; U.S., Chinese investment in, 7–8; U.S., Chinese purchases of services from, 226, 305
Financial Times, 122, 241
Five Eyes, 254
5G technology, 26, 27, 39, 240, 366, 397
“flooding the zone,” 166–67, 175–76, 405
“flood-irrigation stimulus,” 109
Flynn, Michael, 164, 167
Ford Motor Company, 46, 51, 308, 357
foreign exchange policy, 21, 108, 369, 374
foreign-exchange reserves, 101, 108
Foreign Investment Law, Chinese, 18–19, 264–65, 317–18, 328, 344, 401, 402
Foreign Ministry, Chinese, 23–24, 372, 378
40-40-20 offer, 365, 367
Fox News, 164, 227, 229, 287, 299, 303, 324
France, 18, 29, 257
Freddie Mac, 130
free trade, 144, 176, 408; anti–free trade movement and, 93, 139–40, 144, 145; economists’ defense of, 125, 127
Freeman, Charles, 128
French, David, 288
Friedman, Thomas, 240
F7, 224
“Fuck China Week,” 254
Fujian province, 44, 150, 263, 265–66
furniture makers, 115, 116–18, 119–20, 126, 180; laid-off American workers and, 119–20, 133–34; Trump’s tariff war and, 238, 339–40, 352
Fuzhou Intermediate People’s Court, 265–66
Galvin, Robert, 123, 138
Gao Feng, 349
Gap Inc., 122
Geithner, Timothy, 131, 257
General Agreement on Tariffs and Trade (GATT), 66
General Electric (GE), 61, 70, 122, 193, 256, 257–59, 343–44
General Motors Company (GM), 46, 58, 121, 151, 255, 282, 317
genetically modified crops, 315–16
Geng Shuang, 363
Germany, 390; Trump’s belligerence toward, 18, 144, 225, 237
glass, 141; China’s massive, subsidized production of, 109, 122, 405–6
Global CEO Council, 242
global financial crisis (2008), 99, 100–104, 129, 130, 236, 244, 273, 299; Chinese stimulus spending and, 100–103, 109–12, 121–22
globalization, 407; Clinton’s turn to, 53; Trump’s business empire and, 145–46
Globe and Mail, 308
Goldman Sachs, 51, 61, 129, 175–76, 193, 242, 279, 280, 294
Goldsmith, Sir James, 140
Goodman, Matthew, 406–7
Gorbachev, Mikhail, 157
Grassley, Chuck, 337–38
Gray, Jon, 294
Great Britain, 20, 147, 254, 257, 366
Great Depression, 72, 398
Great Firewall, 95–96
Great Leap Forward, 43, 363
Green, James, 185, 234, 376
Greenberg, Evan, 283–84
Greenberg, Maurice “Hank,” 165–66, 283–84
Greer, Jamieson, 195
gross domestic product (GDP), 3; Chinese state-owned firms and, 31; global, Trump trade policy and, 341; growth rate of, in China, 100–101, 287, 299
Group of 20 (G-20): Hamburg, Germany, summit of (July 2017), 207; Japan summit of (June 2019), 342–43; Washington summit of (2008), 100, 102. See also Buenos Aires, G-20 summit in
Grove, Andrew, 138
Guangdong province, 43–44, 124, 150, 183, 316
Guangrao county, 105–7; rubber and tire makers in, 106–7, 112–13
Guo Shuqing, 293, 299
Guo Wengui, 276
Gutierrez, Carlos, 203
Haley, Nikki, 190
Han Zheng, 17, 49
Hanson, Gordon H., 125–27, 134
Harker, Brian, 268–69
Harley-Davidson Inc., 51, 343–44
Hassett, Kevin, 211, 310, 311
Hebei province, steel mills in, 111
Hemken, Peter, 251
Hewlett-Packard Enterprise Company (HPE), 254
high-tech firms and products, 184, 233–34, 241, 253, 330, 332–33, 344–46, 377. See also specific companies
Hirson, Michael, 32
Hogan, Phil, 406
Hollywood films, 221
Honeywell International, 259, 378
Hong Kong, 9–10, 39, 44, 47, 62, 122, 183, 240, 387; prodemocracy protests in, 122, 271–72, 336, 357, 364, 382, 389, 408; Trump’s approach to rights of Chinese citizens in, 33, 64, 271–72, 382, 408
Houston Rockets, 122
Hu Chunhua, 201, 332, 343–44
Hu Jintao, 99–100, 102, 112, 123, 151, 152, 153, 154
Hua Hong Semiconductor Ltd., 404
Huang, Limin, 388
Huawei Technologies Company, 25–28, 224, 252, 315, 325, 365–67, 377, 384, 391, 392, 395, 397; as bargaining chip in trade battle, 308, 343, 348, 349, 350, 351, 357, 359–60, 365; Canada’s arrest of chief financial officer of, 307–8, 392; China Mobile and, 345–46; Dongguan R&D campus of, 366–67; 5G technology and, 26, 27, 39, 240, 366, 397; government support for, 366–67; Motorola’s allegations against, 121; U.S. sanctions against, 25–28, 267, 332–33, 343, 346, 348, 359–60, 366; viewed as national security threat, 25, 26, 359–62; workarounds for sales ban on, 365–66
Huaying Haitai, 253–54
Hudec, Robert, 189
human rights practices in China, 95, 96, 102, 112; Clinton administration and, 54–64, 68, 70, 90, 93, 94, 247, 271; crackdowns on dissent and public debate and, 55, 168, 404 (see also Hong Kong; Tiananmen Square); Trump and, 33, 64, 271–72, 357, 382, 408
Hundred-Year Marathon, The (Pillsbury), 59, 167, 304
Hundt, Doug, 411
Huntsman Corporation, 260–62
Hytera Communications, 121
Iacocca, Lee, 123, 139
IBM, 250, 254, 258, 330–31, 392
Ignatius, David, 77
IHS Markit, 14
Immelt, Jeffrey, 122, 258
immigration, 141, 142, 177, 416; Trump’s hard-line policies on, 30, 34, 189, 275–76, 338
impeachment, 380
import-surge provisions, 107, 128–29
India, 33, 245, 389; RCEP and, 239–40
indigenous innovation, 123
Industrial and Commercial Bank of China (ICBC), 110
industrial revolution, 396–97
inflation: Chinese plan aimed at prevention of, 100–102; in U.S., Chinese imports and, 116
information technology, 104, 123, 124, 328, 388, 391, 392, 393–94, 404
Information Technology and Innovation Foundation (ITIF), 393
insurance, for laid-off workers, 119–20
insurance sector, 75, 184, 192
Intel, 121, 138, 268
intellectual property (IP), 132, 258, 267; American, improving protection of, 14, 18–19, 20–21, 34, 75, 220, 264–65, 301, 305, 320, 323, 325, 344, 365, 368, 369, 372, 374, 382; Trumps’ applications for copyrights and trademarks and, 146, 172, 226, 299, 317
intellectual property theft, 2–3, 191, 204, 209–12, 258, 259, 283, 401; patent infringement and, 210–11, 250, 251–52, 261–69, 323, 411; sanctions as punishment for, 254–55, 265–67; Section 301 report on, 209–10, 354
InterDigital Inc., 252
International Emergency Economic Powers Act (IEEPA), 235, 266–67, 359, 362
International Ladies’ Garment Workers Union, 140
International Monetary Fund (IMF), 96, 104, 111, 192, 399
International Trade Commission, U.S., 128
Internet, 41, 80, 88, 94, 132, 330; Chinese censors and, 95–96, 356, 405. See also cloud computing
Iran, 353; U.S. sanctions against, 26, 27, 55, 223–24, 255, 307, 359
Japan, 32, 39, 80, 100, 109, 112, 122, 140, 142, 144, 179, 207, 221, 240, 308, 332, 338, 344, 361, 395, 402, 414; Lighthizer’s history as young trade negotiator dealing with, 187, 313–14; and multilateral approach to China policy, 405–6; RCEP and, 239–40; Reagan’s battles with, 186, 187, 213, 398, 410–11; steel industry in, 175, 207, 314; as target of U.S. economic concern in 1980s and 1990s, 53, 122–23, 138–39, 213, 373; Trump’s real estate empire and investors in, 145–46; Trump’s tariff strategy and, 34, 175, 207, 239, 337, 414; Trump’s views on trade with, 137–39, 141, 146, 169. See also Abe, Shinzo; Trans-Pacific Partnership
JCET Group Company, 404
jet engine manufacturers, 256, 257, 345
Jiang Jianqing, 110
Jiang Zemin, 151, 152, 202, 384; Belgrade embassy bombing and, 79–80; China’s entry into WTO and, 69, 70–71, 81, 83; Clinton’s relationship with, 60, 70–71
Jinan Steel Group, 111
Jinhua Integrated Circuit Company, 265–66, 269
Johnson, Christopher, 32
Johnston, Bennett, 54
joint ventures (JVs), 75, 183, 411–12; cloud computing and, 19–20, 330–31; forced technology transfers and, 212, 250, 252, 255–60
Jones, Earl, 298
journalists: symbiotic relationship of economists and, 124–25; Western, expelled from China (March 2020), 8, 379
J.P. Morgan, 399–400
Ju Xuecheng, 389–90
Juniper Networks, 253
Juster, Kenneth, 177
Justice Department, U.S., 253–54, 359–60
Kaiser Family Foundation, 383
Kapp, Robert, 77
Kawasaki Heavy Industries, 122
AT Kearney, 344, 355
Kelly, Alfred, 283, 284
Kennedy, Scott, 377, 403
Kentucky Fried Chicken (KFC), 64, 245
Kharas, Homi, 32
Kim Jong Un, 179, 208, 300, 328, 342
Kind, Ron, 91
Kissinger, Henry, 41–42, 54, 159–60, 163, 169, 170, 171, 381, 417
Korean War, 27–28, 46, 419
Kramer, Kelly, 298
Kroehler Furniture, 119
Kudlow, Larry, 21, 23, 298–99, 314, 329, 352, 353, 354, 355, 356, 362, 367–68, 380, 397; anti-Navarro effort and, 280; deficit reduction targets and, 226, 236–37; stock market declines and, 299, 310; structural issues and, 303–4
Kushner, Arabella, 172, 194, 195
Kushner, Jared, 144, 161, 163–64, 166, 170, 171, 172, 188, 209, 303, 304, 305, 370, 417
labor costs, in China, 45, 88–89, 108, 115, 117, 414
Labor Department, U.S., 119–20
labor standards, in China, 33, 34, 95
labor unions, 88–89, 90–91, 107, 125, 180
Laffer, Arthur, 236, 355
Lane, Bill, 66
Lardy, Nicholas, 31
Las Vegas Sands Corporation, 276–77
Lawrence, Robert Z., 125
layoffs: in China, 68; in U.S., 35, 97, 115, 116–17, 119–20, 126
LCI Industries Inc., 245
Lee, Martin, 93
Lee Hsien Loong, 37
legal system, Chinese, 14, 96, 325
Lenovo Group, 121
Levin, Sandy, 72, 93
Lewandowski, Corey, 143–44, 381
LG Chem Ltd., 282
Li Keqiang, 17, 49, 101, 153, 162, 194, 242, 327, 364
Li Peng, 61, 62, 68, 79, 80, 81
Li Shangfu, 296
Li Zhanshu, 16–17
Liao Min, 24, 201–2, 293
Liaoning province, 124
licensing arrangements, Chinese, 212, 250–52; cloud computing and, 19–20; “tolling” partnerships and, 251
Lighthizer, Robert, 32, 186–90, 211, 262, 288, 291, 294, 313–15, 317, 350, 367–68, 385, 398, 405; arbitration panels distrusted by, 288, 376; ascension of, to upper ranks of Trump advisers, 186–88; Buenos Aires summit and, 301–2, 303–5, 307, 308; China’s entry into WTO opposed by, 95, 187, 189; China’s U.S. business allies and, 247, 249; Chinese leaders’ and negotiators’ views on, 194, 195, 313–14; Confucius cited by, 313, 317; drafting of sanctions statement and, 228–29; enforcement mechanism and, 374, 376, 380; forced technology transfer and, 269, 374, 375; haggling over percent of tariff reduction and, 370–71, 372; Huawei blacklisting and, 26; Liu’s March 2018 negotiations with, 200, 204–5; Liu’s rapport with, 354; memorandum of understanding (MOU) proposed by, 324–25; multilateral approaches as viewed by, 406; NAFTA renegotiation and, 275; negotiations of January 2019 and, 29, 313–15, 317, 319, 320–21; negotiations of April–May 2019 and, 15–16, 18–25, 216–17, 220, 222, 227, 380; nullification and impairment case and, 407–8; pairing of Mnuchin and, 314–15; rivalry among Trump’s negotiators and, 215, 216–17, 232, 246, 291, 294, 304–5, 314; Ross’s negotiations criticized by, 185, 234; Section 301 and, 189–90, 191, 212–13; steel imports and, 206, 207, 208; structural issues of concern to, 186, 301, 303–4, 319, 320, 321, 369, 382; tariffs deployed on massive scale viewed as viable tactic by, 308–9; trade philosophy of, 186–88; as Trump’s chief China negotiator, 246, 304–5, 313; Trump’s rapport with, 188; as young trade negotiator with Japan, 313–14
Limin Huang, 388
Lin Zuoming, 258
Lincoln, Abraham, 186, 281
Linebarger, Tom, 400
Ling Jihua, 152
Lippert, Jason, 245
Liu He, 193, 200–205, 220, 278, 301, 303, 323, 350, 357–58, 370, 377, 380, 384, 385, 416; background and career of, 200–201, 202; China-U.S. Financial Roundtable and (September 2018), 293–94; Chinese Economists 50 Forum and, 240–42, 294–95; on impact of trade conflict, 299; injection of more market discipline into state-owned companies advocated by, 203–4; Lighthizer’s memorandum of understanding (MOU) proposal and, 324–25; Lighthizer’s rapport with, 354; Mnuchin’s rapport with, 216, 232, 314; negotiation in stages suggested by, 364–65; negotiations of March 2018 and, 200, 204–5, 206, 211, 216; negotiations of May 2018 and, 220–23, 226–27, 228; negotiations of January 2019 and, 314, 315, 317–20; negotiations of February 2019 and, 324–25, 326–27; negotiations of April–May 2019 and, 15, 18–25, 331, 332, 335, 336–37, 380; negotiations of July 2019 and, 351–52, 354; negotiations of October 2019 and, 364–65, 367–69; new foreign investment law and, 264, 317–18; as reformer, 201, 202, 203–4; Ross’s June 2018 deal with, 232–34; Schwarzman’s intermediary role and, 290; Section 301 report and, 216, 221; signing of phase-one deal and, 374, 416, 418; state control of economy and, 202–3; Trump’s snub of, 205, 222–23, 226; unsuccessful attempt to restart negotiations in fall 2018 and, 290–92, 294, 295, 296; Xi’s relationship with, 15, 153, 200, 201, 202–3
Liu Huaqiu, 58
Liu Shangxi, 274
Liu Shiyu, 299
Liu Zhanyi, 106–7, 112
Liu Zhiyan, 200
Liu Zijun, 107
Liveris, Andrew, 193
Long March, 5, 28, 337, 419
Long Yongtu, 83, 84
Lord, Winston, 54, 55, 56, 58–59, 60, 61
Lou Jiwei, 162–63, 213, 292–93
Lovely, Mary, 376
Lu Shaye, 308
Lu Ting, 383
luggage makers, 8–11, 54, 245–46, 421
Luo Gentu, 41
Lutz, Robert, 139
Ma, Jack, 278
Macron, Emmanuel, 29
Maddison, Angus, 396
“Made in China 2025” plan, 49, 123–24, 212, 220, 227, 238, 273, 284, 293, 327–28, 387, 391, 409
“Make America Great Again” slogan, 146, 174
Makeblock, 387, 389, 390
Malaysia, 13, 245, 298, 322
Mankiw, Greg, 144
Mao Zedong, 16, 65, 80, 147, 149, 351, 360, 397, 419; centralized economic planning under, 43, 105, 123; Cultural Revolution and, 6, 38, 40, 42–43, 67, 149; Fengqiao experience and, 40; party apparatus controlled by, 38, 39; power struggle following death of, 43, 67; reforms following death of, 38, 152–53, 198; Wei’s grandfather’s connection to, 5–6
Mar-a-Lago summit (2017), 170, 171, 172–74, 179–80, 181, 304, 370
market incentives, in China, 44, 99, 150–51, 274
Martin, Robert, 245
Mason, Jason, 382
MasterCard Inc., 182, 183, 283, 284
Mattell, 104
Mauldin, Will, 338
May, Theresa, 237, 338
McDonald’s, 378
McFarland, K. T., 163–64
McGregor, James, 272
McLarty, Mack, 59–60, 61
McMaster, H. R., 179
McMillon, Doug, 282
Mehrotra, Sanjay, 322–23
Mei Xinyu, 326
memorandum of understanding (MOU), 324–25
Meng Wanzhou, 307–8
Merritt, William, 252
Mexico, 125, 139, 142, 144, 188, 225, 298, 303, 304, 322, 400; lifting of aluminum and steel tariffs on, 337–38; relocation of China operations to, 167, 274, 275, 344, 389; Trump’s hardline immigration policies and, 30, 34, 275–76, 338; Trump’s tariff threats and, 29–30, 34, 274, 275, 338; Xi’s 2012 visit to, 112. See also North American Free Trade Agreement
Miao Wei, 346
Micron Technology Inc., 265–67, 269, 322–23, 401
Microsoft, 19, 273–74, 330, 343–44
midterm elections of 2018, 1, 291–92, 298
military, Chinese, 241–42, 397, 409, 416; businesses owned by, 62; Huawei suspected as tool of, 25; Russian equipment bought by, 295–96; South China Sea outposts of, 132, 148, 164
Miller, Jason, 142, 382
Miller, Jennifer, 136
Miller, Mark, 264
Miller, Stephen, 177
Milliken, Roger, 140
Ministry of Commerce, Chinese, 49, 83, 121, 174, 305, 322
Ministry of Foreign Affairs, Chinese, 254
Ministry of Industry and Information Technology, Chinese, 19, 110
Ministry of Railways, Chinese, 122
Ministry of State Security, Chinese, 253
Mitchell, George, 55
Mnuchin, Steven, 35, 191, 200, 237, 255, 277, 278, 279, 294, 301, 303–4, 305, 311, 314, 326, 327, 329, 331, 350, 351–52, 359, 372, 374, 380, 382–83; on agricultural portion of phase-one deal, 382–83; allegiance of, to Trump, 219; background and early career of, 217, 218; Buenos Aires summit and, 20, 303–5; Chinese negotiators’ tactics with, 31–32, 314; Chinese purchases and, 231, 237, 332; Dobbs’s disparagement of, 227, 228, 246; flooding the zone and, 175; Huawei blacklisting and, 26–27; Liu’s rapport with, 216, 232, 314; Micron’s complaints and, 266–67; negotiations of March 2018 and, 204–5, 216; negotiations of May 2018 and, 220, 222, 226–28; negotiations of April–May 2019 and, 15–16, 18–21, 22, 23, 24, 332, 380; negotiations of October 2019 and, 367–69; pairing of Lighthizer and, 314–15; as Paulson’s protégé, 215–16, 279; rivalry among Trump’s negotiators and, 177, 215, 216–17, 219–20, 222, 226, 229, 232, 246, 291, 294, 304–5, 314; Ross’s deal and, 234; sanctions use as viewed by, 235, 236, 254–55, 266–67; as self-styled CFO of Trump administration, 231–32; tariff proposals and, 175–76, 208, 231, 290–91, 292, 294, 353, 354, 356; Trump’s criticism of, 228; Trump’s tariff threat against Mexico and, 275, 338; unsuccessful attempt to restart negotiations in fall 2018 and, 290–91
mobile phones, 223, 238, 288, 352
Montreal Protocol, 408
Moore, Stephen, 236
Morgan, Piers, 141
Most Favored Nation (MFN) status, 55–59, 61, 62, 63–64, 90–91, 92–93, 104, 140
Motorola Inc., 92, 121, 123, 138, 151
Murphy, Thomas, 255
Nash, Jock, 140
National Association of Manufacturers (NAM), 56, 272–73, 286
National Basketball Association, 122
National Bureau of Statistics (NBS), 316
National Development and Reform Commission (NDRC), 200, 251, 252, 322, 375–76
National Economic Council (NEC), 71–72
National Football League, 219
“National Medium- and Long-Term Plan for the Development of Science and Technology,” 123
National People’s Congress, 19, 68, 264
National Retail Federation, 286–87, 288
National Security Council (NSC), 71, 210, 253, 304–5
National Security Strategy, 224, 348
National Trade Council, 176, 177
natural gas, 66, 193, 233, 237
Naughton, Barry, 203
Navarro, Peter, 22, 23, 29, 146, 163–64, 166, 167, 218–20, 224, 225, 229, 231, 232, 235, 243, 294, 305, 307, 320, 353, 356, 368, 378; allegiance of, to Trump, 219; background and hiring of, 143–44; Death by China by, 143, 217, 219; flooding the zone and, 175; rivalry and discord in Trump’s team and, 176–78, 217, 219–20, 222, 236, 279–80, 314; Ron Vara and Leslie LeBon characters created by, 219, 371; steel proposal and, 208, 209; tariff reduction opposed by, 371–72; in Trump’s presidential campaign, 143–44
networking companies, 184, 253
Neuffer, John, 323, 362
New American Security, 132
New York Times, 8, 77, 95, 209, 240, 371, 379
New Zealand, 240, 254; RCEP and, 239–40
Newman, Mark, 268
Nieto, Peña, 303
9/11 attacks, 94, 129
Ning Gaoning, 241
Ning Jizhe, 316, 375–76
Nixon, Richard M., 42, 54, 351, 352, 354, 417
No Name Coalition, 140
North American Free Trade Agreement (NAFTA), 29–30, 53, 139, 178–79, 303, 304, 308, 337; Trump’s renegotiation of (U.S.-Mexico-Canada Trade Agreement), 29–30, 179, 274–75, 303, 304, 308; Trump’s threats to pull out of, 167, 175, 178–79
North Carolina: impact of Chinese imports in, 115–20, 126, 133–34, 339; impact of Trump’s tariff war on, 339–40; support for Trump in, 133–34, 339
North Korea, 25, 173, 209, 225, 300, 347; China’s help with, 164, 173, 179–80, 181, 190, 191, 306, 347; China’s relations with, 173, 208, 342; nuclear weapons and missiles of, 171, 173, 179–80, 190, 191, 306, 328; U.S. sanctions against, 190, 223, 255, 359
nuclear weapons, 62; North Korea’s development of, 171, 173, 179–80, 190, 191, 306, 328
Nucor Corporation, 208
NXP Semiconductors NV, 246
Obama, Barack, 19, 148, 166, 254, 310, 410; Chinese purchases of U.S. chip makers blocked by, 252, 321; Chinese tire imports and, 107, 128; One China policy and, 165; reliant on China as ally in global downturn, 129; TPP and, 132; Xi’s 2015 deal with, 131–32, 254
One China policy, 160–61, 164–65, 170, 171
Operation Cloud Hopper, 253–54
opioid addiction: in blue-collar America, 116, 120, 133; Chinese fentanyl sales and, 305, 306, 353
Opium Wars, 147
Oracle, 392
Organisation for Economic Co-operation and Development (OECD), 404
Osaka summit (2019), 346–50, 353
Padilla, Chris, 250
Parker, Jacob, 318
Paslin Company, 49
patent infringement, 210–11, 250, 251–52, 261–69, 323, 411
Paulson, Hank, 51, 129–30, 151, 166–67, 173, 215–16, 222, 279, 285–86, 381
Pearson, Margaret, 69
pedal actuators, 128
Pelosi, Nancy, 54, 55
Pence, Mike, 207, 300, 382
Peng Liyuan, 172, 194
People’s Bank of China (PBOC), 103–4, 181
People’s Daily, 161, 202, 203–4, 377
People’s Republic of China, seventieth anniversary of founding of, 16, 342, 363, 364
PepsiCo Inc., 64
Perdue, Sonny, 178
Permanent Normal Trading Relations (PNTR) status, 93–94
Perot, Ross, 123, 138
Pew Research Center, 394
Pfizer Inc., 330
phase-one deal, 368–85; agricultural portion of, 375, 382–84; announcement of, 372–74; breaking talks into “phases” and, 368; calculation of tariff reduction in, 370–72; Chinese purchases and, 374, 375–76, 382–84; enforcement mechanism and, 376–77, 380; forced technology transfer and, 374–75; national security concerns and, 381–82, 384; release of text, 374; signing of (January 15, 2020), 374, 415–21; Trump’s acceptance of partial deal and, 368, 379–81; Trump’s reelection bid and, 380–81, 382, 383–84
phase-two deal, prospects for, 381
Pillsbury, Michael, 59, 166, 167, 168, 171, 221, 304, 320, 353, 373, 417
“Plan for a Harmonious World,” 101
Podesta, John, 71–72, 73, 79, 91, 94
Podhaskie, Daniel, 276
Policy Game, The (Navarro), 218
Politburo, 69, 79, 102, 295, 335–37
Politburo Standing Committee, 16–17, 81, 147, 152–53, 186, 195, 295, 296
Pompeo, Mike, 275, 300
pork sales, 243, 246, 383
Porter, Rob, 177, 207, 209
Posen, Adam, 33
Pottinger, Matt, 304–5, 365, 382; background of, 167–68, 360; Huawei issue and, 360–62, 365; on shortcomings of U.S. policy toward China, 360–61
Powell, Jerome “Jay,” 17, 309–10, 311, 314, 363
Pratt & Whitney, 256
presidential election of 2016: Clinton’s candidacy in, 132–33, 134, 162, 279, 340; reactions to Trump’s victory in, 134, 159, 162; Trump’s candidacy in, 4, 29, 53, 133–34, 135–36, 140–44, 146, 162, 169, 174, 176, 178, 180, 181, 182, 183, 195, 206, 218, 219, 277, 278, 308, 339, 340, 341
presidential election of 2020, 13, 35, 363, 364, 380–81, 382, 383–84
prison labor, 55
prodemocracy protests: in Hong Kong, 122, 271–72, 336, 357, 364, 382, 389, 408; in Tiananmen Square (1989), 7, 45, 54, 55, 61, 66, 69, 90, 97, 168, 363, 388
protectionism, 122, 129, 174, 281, 398, 399; ascribed to China, 49, 122, 143 (see also “Made in China 2025” plan); costs and benefits of, 399–400; economists’ fight against, 127; Lighthizer’s trade philosophy and, 186–88; Navarro’s trade philosophy and, 143–44, 218
Qualcomm, 121, 246, 305, 404
Quinn, Andrew, 177
RAND Corporation, 88
R&D: Chinese spending on, 257, 259, 345, 346, 387, 393, 404; cuts in U.S. budgets for, 410; Huawei’s Dongguan campus and, 366–67; in Shenzhen, 387, 388–89, 390
Ratner, Ely, 132
Reagan, Ronald, 54, 88, 136, 186, 398, 410–11
recreational vehicles (RVs), 207, 244–45
Red Guards, 6, 42, 419
Red Star Over China (Snow), 419
Regional Comprehensive Economic Partnership (RCEP), 239–40
regulatory panels, Chinese, 260–62, 374
Ren Zhengfei, 366
Rhodium Group, 121, 393
Rice, Allen, 245
Rice, John, 193
Rio Tinto PLC, 330
Rising Euro, The (Liao), 201
Robbins, Chuck, 345
robotics, 48, 49, 123, 124, 125, 346, 387, 390
Rockwell Collins, 259
Rohrabacher, Dana, 91–92
Rolls-Royce Holdings PLC, 256
Rometty, Ginni, 331
Romney, Mitt, 141
Roosevelt, Franklin D., 72, 94
Rose Garden Agreement (2015), 131–32, 254
Rosen, Daniel, 403
Rosenstein, Rod, 254
Ross, Wilbur, 27, 144, 146, 177, 187, 215, 267, 378; in Beijing negotiations of June 2018, 220, 222, 231, 232–34; CAFTA and, 174; Comprehensive Economic Dialogue and, 173–74, 181–86, 192; steel production and, 174, 183, 186, 206, 208; in Trump’s doghouse, 184–86, 193, 194
Rowen, Harry, 88
Rubenstein, David, 199
Rubin, Robert, 69, 72, 96
Rudd, Kevin, 131
Rump Group, 70, 121
Russia, 62–63, 70, 139, 166, 237, 327, 394; China urged to sell its U.S. securities by, 130; Chinese purchase of military equipment from, 295–96; 2016 U.S. election and, 134, 295
“Safe Zhejiang” app, 41
SAIC Motor Corporation, 151, 282
sanctions, U.S., 4, 55, 62, 131, 180, 189, 213, 228, 254–55, 271, 389, 408; Chinese purchase of Russian military equipment and, 295–96; against Huawei, 25–28, 267, 332–33, 343, 346, 348, 359–60, 366; against Iran, 26, 27, 55, 223–24, 255, 307, 359; Mnuchin’s views on use of, 235, 236, 254–55, 266–67; against North Korea, 190, 223, 255, 359; as punishment for intellectual property theft, 254–55, 265–67; U.S. companies pursuit of, against their Chinese competitors, 265–69; against ZTE, 221, 223–24, 267, 391. See also Commerce Department, U.S., entity list of
S&P 500, 309, 311
Savannah Luggage Works, 245–46
Save Our Steel, 207–8, 408–9
Schiff, Adam, 225
Schlesinger, Jacob M., 137
Schrader, Keith, 246
Schumer, Chuck, 224
Schwarzman, Stephen, 277–79, 280, 283, 284–85, 289, 290–91, 294, 417
Scowcroft, Brent, 55
Seattle, protests at WTO meeting in (1999), 90
Section 301 (Trade Act of 1974), 189–92, 198, 221, 256; announcement of investigation under, 190–92; Lighthizer’s strategy and, 189–90; March 2018 report and, 209, 211–13, 216, 259–60, 273, 301, 317, 354, 355, 368, 401; steel proposal and, 207–8; Trump’s focus on trade deficit vs. structural issues at heart of, 236–38
Securities and Exchange Commission (SEC), 263
securities sector, 75, 103, 155, 192, 195, 285
Sematech, 411
Semiconductor Industry Association (SIA), 322
Semiconductor Manufacturing International Corporation (SMIC), 404
semiconductor sector, 131, 138, 233, 246, 252–53, 262–64, 265–69, 296–97, 393, 403–4, 410; Chinese government’s support for, 404; forced technology transfer and, 252–53; Reagan-era Sematech project and, 410–11; U.S. Commerce Department’s entity list and, 267–69
Shandong Yongsheng Rubber Group, 107, 112
Shanghai, 17, 67, 103, 331, 395; China’s version of Wall Street created in, 103; Liu and Trump’s 2019 talks in, 351–52, 356; Xi’s views on private-sector vs. state-owned enterprises in, 151
Shanghai Communiqué, 351
Shanghai Composite Index, 24, 297, 299
Shao Danping, 244
Shattuck, John, 60
Shenzhen New Materials Association, 389
Shenzhen special economic zone, 366, 387–90, 404; funding for R&D and strategic industries in, 388–89; impact of U.S. tariffs in, 244, 389–90; Nanshan district in, 389; Southern University of Science and Technology founded in, 388
Shenzhen Stock Exchange Composite Index, 24
Shenzhen Wonder Office Appliances Company, 244
Shoun, Stuart, 116–17, 119–20
Shuford, Alex, III, 117–18, 133–34, 340
Sinopec, 193, 260–61
Smiths Aerospace, 257–58
Smoot-Hawley Tariff Act (1930), 398
Snow, Edgar, 419
Snowden, Edward, 392
Social Security Disability Insurance, 116, 120, 126
Soros, George, 217
South China Sea: China’s sovereignty claims in, 148, 160; Chinese military outposts in, 132, 148, 164; close encounter of warships in, 300
South Korea, 39, 88, 179, 414; democracy in, 88; imports from, 9–10, 11; RCEP and, 239–40
Southern University of Science and Technology, 388
Soviet Union, 70, 88, 419; Chinese relations with, 62–63; Cold War against, 26, 157, 397, 398–99, 409–10, 414; fall of, 157. See also Russia
soybeans, 181, 382–84; anti-tariff effort in U.S. and, 286–87; Chinese approval of genetically modified crops and, 315–16; Chinese pledge to increase purchases of, 2, 233, 301, 319, 321, 323, 347–48, 349, 356–57, 383–84; Chinese retaliatory tariffs and, 13, 243, 246; importance of structural changes vs. purchases of, 237, 321, 382–83; Trump’s program of farm payments and, 246, 339
spearphishing, 253–54
special economic zones, 44, 45, 66, 318, 387–88
Sperling, Gene, 71–72, 77, 81, 82–83, 84, 315
sporting goods, 118–19
sport-utility vehicles, 243, 308
Standard Chartered, 110
Starnes, Jackie, 120
State Department, U.S., 26, 54, 59, 60, 61
State-Owned Assets Supervision and Administration Commission (SASAC), 154
state-owned enterprises (SOEs), Chinese, 30, 44, 48, 51–52, 66, 100, 112, 115–16, 154, 182, 202, 232, 336, 338, 347, 369, 395–96, 403, 407, 412, 413; in banking and finance sectors, 51, 103–4, 109, 110, 130, 380, 401; calls for limiting power of, 319, 329, 365, 371; difficulties of private firms competing with, 51–52; Liu’s approach to, 203–4; “state capital” terminology and, 203; subsidies to, 66, 204, 241, 272, 273–74, 329, 365, 380, 396, 401; TPP and, 132, 169; Zhu’s strategy for revamping of, 68–69. See also specific companies
steel, 413; Bush’s tariffs and, 174; China’s currency practices and, 180; China’s massive, subsidized production of, 108–9, 110–11, 112, 122, 405–6; Great Leap Forward and, 43; internal divisions in White House over trade policy and, 205–8, 209; laid-off steelworkers and, 115; Lighthizer’s credentials and, 187, 314; Ross’s negotiations and, 183, 185, 186; Save Our Steel approach and (coercive multilateralism), 207–8, 408–9; Trump’s tariffs on allies and, 175, 303, 337–38, 405; Trump’s tariffs on China and, 4, 29, 175, 206–7, 208, 244–45, 303, 400
stimulus spending, in China (2008), 100–103, 109–12, 121–22
stock market: as benchmark for success of Trump presidency, 310–11; U.S.–China trade war and, 13, 175, 247, 297, 309–11, 362, 363. See also specific indexes
Stone, Roger, 137
Strategic Economic Dialogue, later Strategic and Economic Dialogue (SED), 130–31, 166, 173
“strategic partners,” Trump’s use of term, 348
Strauss, Robert, 57–58
Su, Lisa, 268
subsidies, Chinese, 14, 128, 190, 237, 253, 371, 387–91, 403; “dumping” of lower-priced goods and, 108–9; Guangrao’s Rubber Valley and, 106–13; massive steel and aluminum production and, 108–9, 110–11, 112, 122, 405–6; for R&D, 387, 389, 393; to state-owned firms, 66, 204, 241, 272, 273–74, 329, 365, 380, 396, 401
Sugon Information Industry Company, 267–68
Summers, Larry, 69, 72, 81, 129, 219
Sun Tzu, 105, 282
surveillance, 148, 168, 382, 392
Syngenta AG, 316
Taipei Economic and Cultural Representative Office, 161
Taiwan, 6, 39, 88, 122, 179, 200; arms sales to, 27, 171; imports from, 9–10, 62, 400; Micron’s lawsuits and, 265; One China policy and, 160–61, 164–65, 170, 171; phone call to Trump from president of, 160–61, 165; Xi’s free trade pact with, 150
Taiwan Strait, 150, 167
Taoran Notes, 21, 377
Target, 32, 116
tariffs: anti-tariff effort in U.S. and, 286–88; calculating phase-one reduction in, 370–72; Chinese retaliatory, 13, 213, 238–39, 243, 246, 295, 296–97, 302, 306, 324, 338–40, 357, 383, 401; cost-benefit analysis of trade war and, 399–402; damage inflicted on U.S. economy by, 142, 245–46; first round of (July 2018), 242–47; high-tech companies’ criticisms of, 253; impact in China of, 13, 243–44, 299, 316–17, 394; impact in U.S. of, 243–46, 383, 394, 399–400; internal divisions in U.S. trade policy and, 205–9; lowest rate of (see Most Favored Nation status); massive, in Trump’s trade strategy, 33–34, 135, 246–47, 308–9, 408; in Reagan’s battles with Japan, 410–11; Smoot-Hawley Tariff Act of 1930 and, 398; threat of, in recruitment of allies, 408–9; Trump’s campaign rhetoric and, 135, 136; Trump’s hard-line immigration policies and, 30, 34, 189, 275–76; Trump’s misstatements about, 136–37; Trump’s 2016 supporters most likely to be damaged by, 340; voters in 2020 battleground states hurt by, 383. See also specific goods and topics
Tariffs Hurt the Heartland, 287
tax cuts: of Reagan, 136; of Trump, 176, 400
tax incentives, Chinese, 106
technology transfer, forced, 123, 249–69, 307; Chinese antitrust investigators and, 212, 250, 251–52; Chinese proposal for new foreign investment law and, 264–65; Chinese regulatory panels and, 260–62, 374; financial sanctions on Chinese competitors and, 265–69; joint ventures and, 212, 250, 252, 255–60; licensing arrangements and, 212, 250–52; phase-one deal and, 374–75; Trump administration’s Section 301 report on, 259; U.S. complaint about, 255; “voluntary,” 259–60. See also cyber espionage; intellectual property theft
telecommunications sector, 66, 75, 80, 81, 84, 116, 121, 130, 198, 345, 361, 391; 5G technology and, 26, 27, 39, 240, 366, 397. See also Huawei Technologies Company; ZTE Corporation
Temasek model, 154
Tencent Holdings Ltd., 389
Tesla Inc., 308, 357
Thor Industries Inc., 245
Thornton, John, 170, 279
Thornton, Susan, 185–86
3M, 317
Tiananmen Square, crackdown on student prodemocracy protests in (1989), 7, 45, 54, 55, 61, 66, 69, 90, 97, 168, 363, 388
Tibet, 33, 55, 70, 91, 160, 171, 201
Tillerson, Rex, 172, 209
Time, 145
tire manufacturing, 105, 106–8, 109, 110; in Guangrao county, 106–7, 112–13; Obama’s use of import-surge provisions and, 107, 128
Toy Association, 286–87
toy makers, 104, 105, 116, 119, 286–87, 288, 352, 370
Trade Act of 1974. See Section 301
Trade Adjustment Assistance, 119–20
trade deficits, 95, 145; impact of Trump’s tariffs on, 400, 401; Lighthizer’s arguments on, 190, 194, 398; negotiations on reduction target for, 173, 185, 211, 216, 220, 226–27, 303, 375; Trump’s focus on, 30, 137, 140, 142, 144, 173, 180, 211, 231, 236–38, 375
trains, high-speed, 122
transit systems, buses and subway cars for, 393
Trans-Pacific Partnership (TPP), 29, 132–33, 169, 177, 405, 409
Treasury Department, U.S., 69, 75, 130, 192, 232, 235, 238, 255, 266–67, 290–91, 339, 359; currency manipulation reports of, 180–81, 219, 354; primacy of, in trade negotiations, 215, 216
Treasury notes, U.S., 99, 101, 129, 238, 362
Triolo, Paul, 393
Trudeau, Justin, 219, 303
Trump, Donald: anti-establishment side of, 143; appraisal of trade war launched by, 395–401, 405–7; bullying tactics of, 416; Chinese admirers of, 162; economic performance under, 144, 363; evolution of trade views of, 135–46; impeachment of, 380; influence of U.S. business leaders with strong ties to China on, 274–80; net worth of, 145; “open letter” written by (1987), 137–38; presidential candidacy considered by, before 2016, 135–36, 137, 140, 186; as presidential candidate in 2016, 4, 29, 53, 133–34, 135–36, 140–44, 146, 162–63, 169, 174, 176, 178, 180, 181, 182, 183, 195, 206, 218, 219, 277, 278, 308, 339, 340, 341; reactions to election of (2016), 134, 159, 162; real estate and business empire of, 8, 136, 137, 138, 144–46; reelection bid of (2020), 13, 35, 272, 329, 363, 364, 380–81, 382, 383–84; swagger and hypercompetitiveness of, 135–36; tensions between nationalist and globalist aspects of, 176; unwilling to work with allies, 405–7, 409. See also specific topics
Trump, Ivanka, 171, 172, 226, 299, 303, 317, 347
Trump, Melania, 194
“Trump Can Stand Up to China Without Sparking War” (Pillsbury), 171
Tsai Ing-wen, 160–61
Tsinghua Unigroup, 404
Tsinghua University, 150, 240, 278
Tu Guangshao, 184
Uighurs, 382, 395
ultranationalists, 142–43, 144
UnionPay, 182
United Aluminum Corporation, 208
United Microelectronics Corporation, 265
United Nations Conference on Trade and Development (UNCTAD), 400
United Nations Security Council, 190, 292
United States–China Comprehensive Economic Dialogue, 173, 181–82, 188–89, 192
University of California, Berkeley, 273–74
University of Pennsylvania, 273–74
U.S. Apple Association, 286–87
U.S. Chamber of Commerce, 91–92, 124, 203, 250, 272–73, 275, 276, 286, 288, 320, 364
U.S.–China Business Council, 77, 157, 210, 221, 252, 283, 318
U.S.–Mexico-Canada Trade Agreement. See North American Free Trade Agreement
U.S. Steel Corporation, 187, 208
Veeco Instruments Inc., 262–64, 265, 266
Vermeer, Gary, 412
Vermeer Corporation, 411–14
Vietnam, 132, 245, 282, 340, 400; relocation of China operations to, 13, 298, 344, 389. See also Trans-Pacific Partnership
Visa Inc., 182, 183, 283, 284
Voice of America, 7, 55
Volkswagen Group, 151, 242
Volvo Car Group, 282
wage gap, 421; low labor costs in China and, 45, 88–89, 108, 115, 117, 125, 414
Waldron, John, 294
Wall Street Journal, 7–8, 59, 64, 76, 125, 136–37, 141, 168, 193, 276, 292, 311, 329, 338, 366, 367, 372, 379, 420, 421; CEO Council and, 1–4; China’s expulsion of three reporters from, 8, 379
Wallace, Chris, 164
Walmart Inc., 32, 116, 282
Wanfeng Auto Holding Group, 46–50, 51–52
Wang Hongmei, 394
Wang Huning, 17
Wang Jianjun, 387, 390
Wang Qishan, 129–30, 152, 170, 198–99, 257, 281–83, 285, 290
Wang Shouwen, 24, 266, 306
Wang Yang, 17, 183–84, 186, 192, 193
Wang Yi, 172, 234, 296, 300, 306; U.S. business leaders’ 2018 meeting with, 283–85
Wang Yiming, 297–98
Wang Zhijun, 404
war-game analysis of U.S. conflict with China, 406–7
Washington, D.C., G-20 summit in (2008), 100, 102
Washington Post, 8, 55, 77, 92, 137, 228, 379
Wei, Lingling, 184, 192, 372, 388; education and early career of, 7–8, 79; family history of, 5–7; ordered to leave China (March 2020), 8, 379; at signing of phase-one deal (January 2020), 417–20
Wei Gengfu, 6, 8
Wei Jianguo, 35–36
Wei Jingsheng, 60
Wen Jiabao, 109
Wenzhou people, 39
What It Takes (Schwarzman), 278
White, Theodore H., 138
White House Council of Economic Advisers, 189, 210, 211, 238, 310
“whole of government” approach, 254
“Why China Will Become a Democracy” (Rowen), 88
WikiLeaks, 131, 151, 162
Willems, Clete, 207, 237, 300
Wilson, Woodrow, 93, 94
Wolf, Martin, 241
Wolin, Harry, 268
Woodward, Bob, 177
World Bank, 42, 148, 373–74
World Economic Forum, 281
World Trade Organization (WTO), 90, 288, 376; antidumping cases and, 109; China’s “nonmarket economy” classification at, 84; and multilateral approach to China policy, 406; nullification and impairment case and, 407–8
World Trade Organization (WTO), China’s entry into, 3, 11, 20, 33, 65–94, 100, 140, 315, 361, 418; approval of all 142 members needed for, 67; business coalition’s support for, 70, 91–93, 120–21, 247, 271, 272–73; Clinton and Zhu’s failed talks and, 66, 73–78, 301, 415, 418; congressional approval of, 70, 72–73, 74, 87–94; currency valuation and, 69–70, 108; decision in Beijing to pursue, 66–67; democratization hopes and, 87–88; economic concessions necessary for, 66–67, 68–69, 87, 132, 182, 202, 284, 406; economic growth in Zhejiang after, 50; Guangrao county illustrative of changes brought by, 105–7, 112–13; import-surge provisions and, 107, 127–29; jobs lost in decade after, 125; labor unions’ concerns about, 88–89, 90–91; Lighthizer’s views on, 95, 187, 189
World War I, 80, 221
World War II, 9, 138, 218, 407
Wu, Mark, 109
Wu Bangguo, 80
Wu Jinglian, 295
Wu Liangding, 47
Wu Xiaohui, 209
Wu Yi, 76
Wuhan, coronavirus pandemic in, 378–79
Wuttke, Joerg, 124
Wyden, Ron, 212–13
Wynn, Steve, 276
Xcel Energy, 234
XCMG, 412
Xi Jinping, 4–5, 30–31, 35, 37–38, 48, 49, 146–58, 197–200, 246, 278, 314, 319–20, 360; Abe’s meetings with, 302–3, 373–74; American democracy as viewed by, 148–49; anticorruption campaign of, 170; background and education of, 149–50; Belt and Road Initiative of, 18, 148, 181–82, 412; Biden’s pitch to, for beef sales, 182; Boao Forum speech of (2018), 216, 221, 278; Buenos Aires summit and (December 2018), 2, 14, 299, 300–309, 311, 316; “China Dream” plan of, 30, 37–38, 146–48, 156; Communist Party’s leadership affirmed and strengthened by, 40, 51, 149, 156, 157, 158, 388, 402, 403; coronavirus pandemic and, 378, 379; domestic political pressures on, 158, 363–64; economic development as viewed by, 45; fall of Soviet Union as viewed by, 157; Fengqiao experience and, 40–41; government’s big role in economy as viewed by, 112, 241; greater state control under, 202–3, 388, 395; and hardline sentiment against Trump, 325; Hillary Clinton’s relationship with, 162; Kissinger’s approach to, 160; Liu’s relationship with, 15, 153, 200, 201, 202–3; market incentives as viewed by, 150–51, 154, 155; negotiations of April–May 2019 and, 15–18, 19, 22, 24; North Korea and, 173, 179–80, 208, 225, 342, 347; Obama’s 2015 deal with, 131–32, 254; on optimal bilateral relationship, 347; Osaka summit and (2019), 346–50; overseas capital courted by, 50–51; phase-one deal and (2020), 369, 373–74, 415–16, 418, 420–21; phase-two deal’s prospects and, 381; presiding over Zhejiang province, 37–38, 39–41, 50–51, 150–51, 351; removal of all tariffs demanded by, 15, 365, 371; retaliatory acts of, 28; rise to power of, 16, 150, 151–53, 157, 193–94, 397; self-reliance drive (decoupling project) of, 391–92; state investment under, 31, 151, 155, 273; strategy of, for dealing with hostile Trump administration, 295–96; Trump’s presidential campaign as viewed by, 162; Trump’s relationship with, 145, 169–70, 171, 172, 194–95, 243, 302, 362 (see also Mar-a-Lago summit); Trump’s snub of Liu He answered by, 222–23; United States first visited by, 156–57; ZTE and, 225–26
Xi Jinping Thought, 336
Xi Zhongxun, 40, 43–44, 149
Xiang Songzuo, 355–56
Xinhua News Agency, 143, 259, 299, 300–301, 311, 349, 350
Xinjiang, 33, 64, 395
Xu Shanda, 101
Xuzhou Construction Machinery Group Co. (XCMG), 412
Yang Jiechi, 163–64, 199–200
Yang Weimin, 241
Yao Ming, 193
Yi Gang, 293, 299
Yu Jianhua, 195
yuan. See currency, Chinese
Yugoslavia, U.S.-led bombing campaigns in, 71, 78–81
Yum China Holdings Inc., 64
Zandi, Mark, 340
Zhang Shuguang, 295
Zhang Weiying, 405
Zhangjiagang Glory Chemical Industry Company, 250–52
Zhao Leji, 17
Zhejiang province, 37–51; Fengqiao experience and, 40–41; foreign direct investments in, 50–51, 150–51; private entrepreneurs in, 45–50; wealthy population of, 41; Xi’s years presiding over, 37–38, 39–41, 50–51, 150–51, 351
Zhejiang Wanfeng Alloy Wheel Company, 48
Zheng Zeguang, 349
Zhong Guang (originally Zhong Fuchang), 5–6, 419–20
Zhong Shan, 48, 351
Zhou Enlai, 61, 75
Zhou Xiaochuan, 103, 104
Zhou Yongkang, 152
Zhu Chenghu, 241–42
Zhu Guangyao, 192, 195
Zhu Rongji, 65–69, 79, 103, 105, 384–85; barnstorming tour across America of, 78; China’s entry into WTO and, 11, 65–69, 71, 72, 73–85, 87, 105, 128–29, 202, 415, 418, 420; Clinton’s failed talks with, 66, 73–78, 301, 415, 418; economic strategy of, 67–68; purged during Cultural Revolution, 67
zhua da fang xiao (“grabbing the big ones and letting the small ones go”), 68
Ziang Songzuo, 355
Zoellick, Robert, 89, 129, 157
ZTE Corporation, 225–26, 227, 228, 246, 267, 345, 391; as bargaining chip in trade battle, 225–26; cybersecurity and, 225–26, 391; U.S. sanctions against, 221, 223–24, 391
Zuckerberg, Mark, 141