Tesla halted a plan to buy land in Shanghai to expand its manufacturing plant because of trade tensions between China and the U.S., the news agency Reuters reported citing people familiar with the matter. Tesla said its Shanghai factory was “developing as planned.”
The latest area of competition between the US and China: Saving the world
With Washington rejoining international efforts against climate change under President Joe Biden, the United States and China now have a new area of competition leading the world in staving off environmental catastrophe.
On Wednesday, Biden hosted a virtual two-day climate summit attended by 40 other world leaders, including Chinese leader Xi Jinping, who just three days earlier criticized the US for “bossing others around” at another forum.
Relations between the US and China have plummeted rapidly in recent years. But compared with technology, trade, geopolitics, defense and other areas of increasingly intense face-offs, climate change is an issue where decoupling is least likely and allows most room for agreement, cooperation and potentially even joint leadership on the world stage.