Total 13 Posts
Yesterday, the U.S. Senate Foreign Relations Committee held a hearing on "U.S. Economic Security: Addressing Economic Coercion And Increasing Competitiveness," with issues related to China as a main focus.
In testimony before a U.S. House of Representatives Committee last week, Treasury Secretary Janet Yellen was critical of World Bank lending to China, and expressed doubt that "decoupling" of the U.S. and Chinese economies was a realistic possibility.
At a recent hearing in the U.S. House of Representatives, members of Congress discussed concerns with the number of World Bank contracts awarded to Chinese companies and with World Bank lending to China, as well as with Chinese lending to developing countries more generally.
World Bank lending to China was in the news twice last week, as the outgoing President of the World Bank discussed it in an interview and a group of U.S. Senators introduced legislation on the issue.
The U.S. House of Representatives Financial Services Committee held a hearing yesterday on "Combatting the Economic Threat from China." Issues that were discussed at the hearing included: bilateral trade, outbound and inbound investment related to China, Chinese lending, TikTok, and China's presence in Latin American and African countries.
Last week, the U.S. House of Representatives passed the annual defense spending bill, which includes a number of provisions that address various China trade and economic issues. The Senate is expected to vote on the bill this week.
At a Senate Finance hearing today, Senator James Lankford (R-OK) had an exchange with U.S. Treasury nominee Jay Shambaugh on several issues related to the World Bank and China.