Maritime nations agreed Friday to slash emissions from the shipping industry to net zero by about 2050 in a deal that many experts and some nations say falls well short of what’s needed to curb warming to agreed temperature limits.President Joe Biden has rolled out a new set of initiatives to reduce health care costs. The initiatives out Friday include a crackdown on scam insurance plans, new guidance to prevent surprise medical bills and an effort to reduce medical debt tied to credit cards.
Yellen appealed for “healthy economic competition,” a reference to complaints Beijing is stepping up use of subsidies and market barriers to protect its companies. Referring to a rainbow that was spotted after Yellen’s plane landed Thursday in rainy weather, Li said, “after a round of wind and rain, we will definitely see more rainbows.”
Beijing has been slow to retaliate, possibly to avoid disrupting its own tech industries. But this week, the government announced unspecified controls on exports of U.S. and other foreign companies are uneasy about their status in China following raids on consulting firms, the expansion of a national security law and calls by Xi and other officials for greater self-sufficiency.
Businesspeople have warned the world’s two biggest economies might split into separate markets with incompatible products as Beijing and Washington tighten trade controls and tell companies to reduce reliance on each other. They say that will hurt economic growth and innovation.
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