Opinion: The Western-designed system of global trade is not well-suited to deal with the Chinese model, writes BillGalston
An understated article in my local paper last week is a window into one of the biggest stories in the global economy. “Senators to Metro: No rail cars from China,” reads the headline. The state-owned China Railway Rolling Stock Corp.
has emerged as the leading contender to build up to 800 new railcars for Washington’s Metro system. Senators from both parties charged that CRRC’s control of software updates could provide opportunities for espionage. They’re drafting legislation to prevent transit systems that receive federal funding from doing business with CRRC.
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