Tsuut'ina chief elaborates on comments to Trump
Tsuut'ina Minor Chief Steven Crowchild explains upon his conversation with U.S. President Donald Trump in Calgary.
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Globe and Mail
an hour ago
- Globe and Mail
US-China trade talks: Can China reduce its export dependence?
BEIJING (AP) — China's high dependence on exports will likely be a key focus of a new round of U.S.-China trade talks this coming week in Stockholm, but a trade deal would not necessarily help Beijing to rebalance its economy. U.S. Treasury Secretary Scott Bessent has said he hopes the negotiations can take up this issue, along with China's purchases of oil from Russia and Iran, which undercut American sanctions on those two countries. Hopes rose for a breakthrough in talks after U.S. President Donald Trump announced deals with Japan, Indonesia and the Philippines this week. The U.S. wants China to do two things: Reduce what both the U.S. and the European Union see as excess production capacity in many industries, including steel and electric vehicles. And secondly, to take steps to increase spending by Chinese consumers so the economy relies more on domestic demand and less on exports. 'We could also discuss the elephant in the room, which is this great rebalancing that the Chinese need to do,' Bessent told financial news network CNBC. He said China's share of global manufacturing exports at nearly 30%, 'can't get any bigger, and it should probably shrink.' China is tackling the same issues — for domestic reasons The issues are not new, and China has been working to address them for years, more for domestic reasons than to reduce its trade surpluses with the U.S. and other countries. Bessent's predecessor as treasury secretary, Janet Yellen, made industrial policy a focus of a trip to China last year. She blamed government subsidies for flooding the global market with 'artificially cheap Chinese products.' The European Union, whose top leaders met their Chinese counterparts in Beijing on Thursday, has cited subsidies to justify EU tariffs on electric vehicles made in China. In the 1980s, the U.S. pressured Japan to boost consumer spending when American manufacturing was overwhelmed by exports from the likes of Toyota and Sony. Economists have long argued that China likewise needs to transform into a more consumer-driven economy. Consumer spending accounts for less than 40% of China's economy, versus close to 70% in the United States and about 54% in Japan. Chinese leaders have spoken about both factory overcapacity and weak consumer spending as long-term problems and have sought over the past 20 years to find ways to rebalance the economy away from export manufacturing and massive investments in dams, roads, railways and other infrastructure. Fierce price wars have prompted critical reports in official media saying that companies are 'racing to the bottom,' skimping on quality and even safety to reduce costs. With strong government support, they've also expanded overseas, where they can charge higher prices but still undercut local competitors, creating a political backlash. Economists say China needs a consumer-driven economy All that competition and price cutting has left China battling deflation, or falling prices. When companies receive less for their products, they tend to invest less. That can lead to job cuts and lower wages, sapping business activity and spending power — contrary to the long-term goal of increasing the share of consumer spending in driving overall growth. To counter that, the government is spending billions on rebates and subsidies for people who trade in their cars or appliances for new ones. But acknowledging a problem and solving it are two different things. Economists say more fundamental changes are needed to boost consumption and rein in overcapacity. Such changes can only come incrementally over time. Private Chinese companies and foreign-invested companies create the most jobs, but they've suffered from swings in policy and pressures from the trade war, especially since the pandemic. Demographic changes are another challenge as China's population shrinks and ages. Many experts advocate expanding China's social safety net, health insurance, pensions and other support systems, so that people would feel freer to spend rather than save for a medical emergency or retirement. Yan Se, an economist at Peking University's Guanghua School of Management, warned at a recent forum that deflation will become a long-term issue if China doesn't step up its welfare benefits. 'Chinese people deserve a better life," he said. Facing external threats, China wants to be more self-reliant One possibility, put forward at the same forum by Liu Qiao, the dean of the business school, would be to change incentives for local government officials, rewarding them for raising consumption or household incomes instead of meeting an economic growth target. He doesn't see that happening nationwide but said it could be tested in a province. 'That would send out a message that China needs a different approach,' he said. Chinese leader Xi Jinping has made transforming the country into a technology superpower a top priority. It's a goal that has gained urgency as the U.S. has tightened restrictions on China's access to high-end semiconductors and other advanced knowhow. Output in high-tech manufacturing is growing quickly, adding to potential overcapacity, just as what happened with the government's encouragement of 'green' technologies such as solar panels and wind turbines. Various industries, including EV makers, have pledged to address the issue, but some local governments are striving to keep money-losing enterprises afloat, reluctant to lose tax revenues and jobs, or to fail to meet economic growth targets. Going forward, the government is calling for more coordination of economic development polices in fields such as artificial intelligence so that not every province champions the same industry. But government moves to counter the impact of higher tariffs tend to support sectors already in overcapacity, and the share of consumption in the economy has fallen in recent years. 'A sustained improvement in household consumption will require greater reform ambition,' the World Bank said in its most recent update on China's economy."
Canada News.Net
2 hours ago
- Canada News.Net
Netanyahu gets nod from Trump to widen war in Gaza
WASHINGTON DC — Just weeks after expressing optimism that a ceasefire deal in Gaza was within reach, U.S. President Donald Trump has reversed course, withdrawing his negotiators from talks and signaling support for Israel to intensify its military campaign, despite growing global concern over starvation and suffering in the Palestinian enclave. The White House decision to suspend involvement in ceasefire negotiations came amid what it described as frustration with Hamas, which Trump administration officials claimed have been disorganized and unwilling to engage in good faith. Steve Witkoff, Trump's envoy to the Middle East, confirmed this week that he is now exploring "alternative options" to secure the release of remaining hostages. He did not comment on the plight of the more than two million Palestinians who are being constantly bombarded, shot to death, and starved. Rather than press for a return to negotiations, Trump appeared to back Israeli escalation during comments to reporters Friday before departing for a weekend trip to Scotland. "I think they want to die, and it's very, very bad," he said of Hamas. "It got to be to a point where you're gonna have to finish the job." As CNN reported, it remains unclear whether Trump's remarks reflect a genuine collapse in talks or a calculated strategy to pressure Hamas into concessions. Nevertheless, the president's tone marked a shift from earlier this month, when he had suggested a deal was imminent. Despite Trump's public pessimism, Egypt and Qatar—key mediators in the region—described the latest pause in negotiations as routine given the complexities involved. In a joint statement released by the Egyptian Ministry of Foreign Affairs, the two countries said they would continue efforts toward a lasting truce. A senior Israeli official, speaking to CNN, also insisted that negotiations had "not at all" collapsed and suggested they could still resume. However, the U.S. withdrawal sent shockwaves through Doha, the Qatari capital hosting the talks. "This is an earthquake," one source familiar with the process told CNN. "We're dealing with the aftershock." The unresolved issues reportedly include the timing and conditions of a permanent ceasefire, the release of Palestinian prisoners, and the Israeli military's future presence in Gaza. Underscoring the indifference of Israel's concern for hostages, Hamas said they were shocked at the U.S. claim, saying the return of the hostages had not yet come up in negotiations, and were scheduled to be discussed next week. Regardless, speaking from the South Lawn of the White House on Friday, before departing for a tour of his golf resort in Scotland, Trump placed blame for the impasse squarely on Hamas. "Now we're down to the final hostages," he said. "And they know what happens after you get the final hostages... they really didn't want to make a deal." The president's comments appeared intended to provoke movement from Hamas, even as some U.S. officials maintained that negotiations could still be salvaged. State Department spokesperson Tammy Bruce told CNN that both Trump and Witkoff remained committed and were exploring all available tools. "We've tried. The world has watched this," Bruce said. "There are many tools in President Trump's tool chest." Yet no timeline has been provided for when—or if—a deal might come together, even after Trump's earlier assertion in July that an agreement was just days away. "Special Envoy to the Middle East Steve Witkoff got it right. Hamas is the obstacle to a hostage release deal," Israeli Prime Minister Benjamin Netanyahu posted on X on Friday night. "Together with our U.S. allies, we are now considering alternative options to bring our hostages home, end Hamas's terror rule, and secure lasting peace for Israel and our region." Meanwhile, the humanitarian situation in Gaza continues to deteriorate. During a meeting Friday in Tunis, Tunisian President Kais Saied handed Trump's senior Africa adviser Massad Boulos photographs of malnourished children, highlighting the urgency of delivering aid. "It is absolutely unacceptable," Saied said, according to AFP. "It is a crime against all of humanity." At the White House, Trump deflected blame, accusing Hamas of blocking humanitarian supplies and defending U.S. contributions. "We gave $60 million to food and supplies and everything else," he said. "We hope the money gets there… the food gets taken." However, according to CNN, an internal U.S. government review found no evidence that Hamas has systematically stolen American-funded aid in Gaza. International criticism of Israel's military actions is also mounting. British Prime Minister Keir Starmer described Israel's campaign as "indefensible" on Friday. French President Emmanuel Macron said France would recognize a Palestinian state at September's UN General Assembly—an announcement that drew sharp rebuke from Israel and U.S. Secretary of State Marco Rubio. Trump, for his part, appeared unbothered. Referring to Macron, he said, "He's a very good guy. I like him. But that statement doesn't carry weight." Meantime rallies protesting the plight of the Gazans have erupted around the world. Even in Tel Aviv, tens of thousands of people gathered in Habima Square, not only demanding the return of the hostages, but calling for an end to the so-called war in Gaza.
Toronto Star
2 hours ago
- Toronto Star
As the ADA turns 35, groups fighting for disability rights could see their federal dollars slashed
TOPEKA, Kan. (AP) — Nancy Jensen believes she'd still be living in an abusive group home if it wasn't shut down in 2004 with the help of the Disability Rights Center of Kansas, which for decades has received federal money to look out for Americans with disabilities. But the flow of funding under the Trump administration is now in question, disability rights groups nationwide say, dampening their mood as Saturday marks the 35th anniversary of the landmark Americans with Disabilities Act. Federal dollars pay for much of their work, including helping people who seek government-funded services and lawsuits now pushing Iowa and Texas toward better community services.
