US officials visiting Beijing this weekend will press China to limit textile exports and crack down harder on piracy, reflecting pressure for trade concessions ahead of US elections in November, economists and trade lawyers said. \nThe World Economic Forum's China Business Summit, with more than 450 attendees including US Commerce Undersecretary Grant Aldonas, Treasury Department emissary Paul Speltz and White House economist Kristin Forbes, will focus attention on an economy that tripled its share of world trade to 7 percent in the past decade. \n"They will definitely make some noise," said Henry Gao, a law professor at the City University of Hong Kong who previously worked at the WTO Secretariat. \nThe Bush administration "will play up the favorable deals they've gotten from the Chinese." \nThe US has raised a series of complaints against its third-biggest and fastest-growing trade partner, from China's pegged currency to violations of intellectual property rights and barriers on overseas companies in the world's seventh-largest economy. \nAldonas said last week that he will ask China to accept voluntary caps on textile and clothing exports to head off dozens of threatened trade petitions from US textile makers. National Spinning Co. and other companies say the US industry will lose as many as 600,000 out of 700,000 jobs next year when four-decade-old quotas on Chinese imports expire. \nThe US already has imposed tariffs and special quotas on Chinese products including color televisions, brassieres and bedroom furniture since last year. Voluntary textile limits would provide "greater certainty" to Chinese and US retailers, Aldonas said. \nChina may be unwilling to negotiate. Any attempt to extend the textile quotas will be a breach of the WTO and is unacceptable, the New York Times reported on Thursday, citing Liu Haiyun, an official at the Chinese embassy in Washington. \n"If you talk to US government officials, they'll tell you [trade relations with China] have never been better," said Patrick Horgan, Beijing-based chief representative for APCO Worldwide, a US lobbying firm. "But if you scratch beneath the surface, the successive actions in recent months brought on by US interest groups suggest things aren't quite as rosy." \nUS manufacturers blame China's fixed currency for holding down the value of the country's exports, stoking the trade deficit and job losses. The Bush administration has pressed China to give up the peg. \nStill, discussion on the peg may be muted at the two-day World Economic Forum starting tomorrow, some economists said. The Bush administration yesterday rejected a petition from a coalition of US labor and manufacturing groups to seek sanctions from the WTO over China's currency policy. \n"The US is becoming more understanding of the difficulties related to floating the currency," said Lois Dougan Tretiak, a vice president for China at the Economist Corporate Network. "There's been less beating of that drum lately." \nUS officials will push for tougher action against piracy. Chinese companies copy US products from Gillette Co's Duracell batteries to Pfizer Inc's Viagra, according to US officials. Pirate discs of latest Hollywood films are sold openly on the streets of Beijing and Shanghai for as little as 8 yuan (US$0.97) each. \n"Counterfeiting and software piracy will be the top issue that US officials will drive for at the World Economic Forum," said Lawrence Sussman, a Beijing-based US trade and tax lawyer. "There is no other issue that is more important."
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Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
O2O BICYCLE SHOW: The Taiwan Bicycle Show next year is to be online to offline, with forums, audio-visual conferences and livestreaming of the offline events Local bicycle makers expect demand to continue outpacing supply due to orders triggered by the COVID-19 pandemic, with some companies seeing orders back up through next year. “Next year is all full in terms of orders. Our lead time on components is one year,” Giant Manufacturing Co Ltd (巨大機械) chairwoman Bonnie Tu (杜綉珍) told a news conference in Taipei organized by the Taiwan External Trade Development Council (TAITRA) to announce next year’s Taipei Cycle Show. The pandemic has reduced bicycle supplies and increased demand around the world, Robert Wu (吳盈進), chairman of KMC (Kuei Meng) International Inc (桂盟國際), one of the world’s