Global Scans · China · Weekly Summary

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WHAT'S NEXT?: Any disruption in economic activity between China and the United States will necessarily affect other Asian and world economies. How China handles Donald Trump's administration, its relationship with Russia and develops its leadership ambitions will be key areas to watch intently in the coming years.

• [New] The European Union could be threatened by rivalry from the US, Russia and China if it does not achieve strategic autonomy. DW.COM
• [New] Governments will seek to find the right balance between supporting local producers at the same time as ensuring consumers can benefit from the low prices offered by Chinese manufacturers, which would accelerate road electrification. IEA
• [New] In China, committed battery manufacturing capacity is well above what is needed to supply domestic electric car sales in 2030. IEA
• [New] Electric car sales in 2030 in the STEPS in China, Europe and the United States together reach a sales share of over 60%, close to the global electric car sales share in the NZE Scenario. IEA
• [New] Electric cars are expected to hit 45% of all car sales in China, growing strongly in Europe with 25% and in the US with 11%. DW.COM
• [New] Based on today's policy settings alone, almost one in three cars on the roads in China by 2030 is set to be electric, and almost one in five in both the United States and European Union. IEA
• [New] The pledge of achieving carbon peak before 2030 and carbon neutrality before 2060 is a strategic decision that responds to the inherent needs of China's sustainable and high-quality development, and is an important driving force for promoting China's ecological civilization constructions. PubMed Central (PMC)
• [New] ASEAN will become the fourth-largest economy in the world by 2030, after the US, China and the European Union. Prime Minister's Office Singapore
• [New] In China, lower annual distance driven reduces fuel cost savings potential, but the very low price of electricity enables savings of about USD1000 per year. IEA
• [New] If all announced projects are developed in full and on time, global recycling capacity could exceed 1500 GWh in 2030, of which 70% is in China, and about 10% each in Europe and the United States. IEA
• [New] Despite the limited technology risk, the cost of capital for utility-scale clean energy generation projects in Africa is at least two to three times higher than in advanced economies and China. IEA
• [New] SAP growth will be strongest in developing nations in Asia but will be much more moderate in mainland China as population growth moderates. S&P Global
• [New] The United States and China will develop methane reduction actions or targets for inclusion in their 2035 NDCs. IEA
• [New] TikTok is in the spotlight over its data policies in the United States and European Union amid fears over connections to the Chinese state. Space War
• [New] Rising geopolitical risks, including signs of a global trading system dividing into separate blocs oriented around the United States and China, are also troubling fund officials. The Washington Post
• [New] China's economy expanded at a faster-than-expected pace in the first three months of the year, fueled by policies that are intended to stimulate growth and stronger demand. The Washington Post
• [New] In the future, China will take multiple measures and make unremitting efforts to continuously improve its business environment and steadily promote higher-level opening-up. Australian Associated Press
• [New] China and India are expected to remain the main competitors for LNG with the Chinese economy continuing to recover, driving up the energy demand. Envantage Ltd
• [New] China's and Germany's reliance on external demand rather than stimulative domestic policies to bolster their economies could cause rising tensions with trading partners and put a damper on global growth. Brookings
• [New] In the current era of global supply chain restructuring prompted by the intensifying strategic competition between the United States and China, the NSP has the potential to contribute to Taiwan's de-risking strategy. The Diplomat
• [New] China has refused to criticise the Russian invasion and has accused the US and Nato of provoking Moscow, but says it will not provide Moscow with direct military support. The Guardian

Last updated: 26 April 2024