In enacting yet another round of tariffs on Chinese exports, the Biden administration has its sights set firmly on its fortunes in November’s election. The US president has to shore up Democrats’ support in rust belt states and clearly thinks American firms and consumers are ready to pay the price tariffs will bring.
China finds itself in need of its latest landmark reform as the urban-rural divide keeps growing and the broader economy is seeking new sources of growth. One possible solution is finding better uses for rural land and giving farmers the same legal rights as urban residents to rent, transfer or mortgage their land.