China Bid to Spur Innovation Raises Trade Tensions
From Associated Press:
China is heightening trade tensions with the United States by taking steps that could make it harder for U.S. software, clean-energy and other cutting-edge companies to sell in the Chinese market.
Beijing has proposed rules that U.S. businesses say would lead its government agencies to buy high-tech and other goods only from companies that develop the technologies in China. It also plans to subsidize Chinese companies in industries such as clean energy.
U.S. business groups warn that such efforts could, for example, exclude wind turbines from General Electric Co., Siemens and other foreign providers from government-financed wind-power projects.
Members of Congress and U.S. trade officials are taking notice. The U.S. International Trade Commission holds two days of hearings starting Tuesday. The House Ways and Means Committee will look into the issue at its own hearing Wednesday.