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The 119th Congress and China: Widespread Interest but Doubtful Legislative Outcomes

Commentary /

Key Takeaways Much Talk, Less Action: Bipartisan interest in China on Capitol Hill is wide but not deep. In 2024, Congress held nearly 40 China-focused hearings – a slight drop from 50 in 2023 – and debated over 800 China-related resolutions, bills, and amendments. But aside from a piece of nearly unanimous legislation to force ByteDance […]

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India’s Union Budget 2025-26

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On February 1, 2025, India’s Minister of Finance Nirmala Sitharaman delivered the Union Budget Presentation. This year’s Budget comes as the Narendra Modi government contends with narrower economic growth projections driven by fluctuating global economic conditions, with Minister Sitharaman estimating India’s GDP growth at 6.3-6.8 percent for FY 2025-2026. Accordingly, the Budget showcases the Indian government’s efforts to drive consumption-led

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Updated U.S. Export Controls on Advanced Chips Seek to Close Loopholes and Push Allied Alignment

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The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) announced on December 2 updates to export controls that limit China’s access to advanced semiconductors and semiconductor manufacturing equipment in order to slow China’s military modernization and use of advanced technologies that enable human rights abuses. These rules are the Biden administration’s third major update in three years and are expected to serve as the final update before a change of administration.

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Chinese Companies “Nearshoring in Mexico,” Making Washington Unhappy

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Chinese firms view Mexico as a compelling investment destination in North America. Foreign direct investment (FDI) flows from China into Mexico represent Mexico’s fastest-growing source of inbound industrial capital. In 2022, China’s annual FDI into Mexico reached a record high and was almost four times the total in 2015. These most recent numbers also do not account for a wave of large investment deals signed in the past two to three years, some in the billions of dollars, that will be reflected in official data over the coming years.

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Vietnam Appoints Army General Luong Cuong as New President

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On October 21, Vietnam’s National Assembly unanimously elected General Luong Cuong as the country’s new president. General Secretary To Lam, who had been serving concurrently as president, will now focus on his primary role as head of the Communist Party. Luong Cuong’s promotion signifies Vietnam’s return to the tradition of collective leadership, with power shared among the four highest ranking positions (the “four pillars”) – general secretary, president, prime minister, and chairman of the national assembly. With a decades-long career in the military, Luong Cuong adds a military presence to Vietnam’s leadership group, which was dominated by those with a police background.

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Japan’s Drug Innovation Incentive Policies: Policy Challenges Undermine Desired Goals (ENG)

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The Asia Group (TAG) has released an update to its 2023 white paper “Observations on Drug Pricing and Innovation in Japan” which analyzes the outstanding policy challenge of the “zero co-factor” rule under the cost-based price calculation method, which continues to undermine the Japanese government’s efforts to restore the country’s drug discovery capabilities and create a robust pharmaceutical industry ecosystem.

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