Clete Willems on U.S.-China relations under Biden

first_img– Advertisement – Bilateral relations between the world’s two largest countries have deteriorated significantly over the last few years due to a trade war, U.S. sanctions against Chinese companies, and increased American support for Taiwan as well as India.Trump and his administration have blamed China for its unfair trade practices, intellectual property theft, and more recently, the coronavirus pandemic.Willems pointed out that the “phase one” trade deal between the two countries addressed some of the concerns the U.S. has over China’s practices. To rein in an 18-month trade war, both countries signed a trade agreement this year that pushed China to strengthen its intellectual property protection plan and increase its purchase of American manufacturing, energy and agricultural goods and services over two years.“If you look at the agricultural market access, if you look for the IP changes, that was some real meaningful stuff and I think that will be a lasting legacy,” Willems said. He added that export controls imposed on Chinese tech giant Huawei, which was labeled a national security risk by Washington, sent the firm into survival mode.“There’s clearly been some successes to point to. I do think that in a lot of respects, there’s a long way to go,” he said, adding that he hopes that if Biden wins, the former vice president can “pick up the torch” from Trump and deal with some of the major issues concerning China that have yet to be addressed. When asked if there was a chance that the U.S., under a Biden administration, may rejoin the massive Trans-Pacific Partnership trade agreement, Willems pointed out the deal faced bipartisan opposition in Congress. While Biden may potentially look at the agreement again, there would need to be renegotiation of some of the provisions before the U.S. considers rejoining the pact, according to Willems.   Being tough on China is what unifies a polarized United States right now, according to former top White House trade negotiator Clete Willems.A day after Americans voted, the race between President Donald Trump and Democratic nominee Joe Biden is still up in the air — with six states yet to be called by NBC News.Regardless of who takes the White House, the relationship with China will remain more or less status quo, said Willems, a partner at Akin Gump.- Advertisement – “The truth of the matter is that being tough on China is what unifies us in a polarized nation right now. We’re polarized in our politics but we are not polarized on China,” he told CNBC’s “Squawk Box Asia” on Thursday.Willems said that if Biden wins, he would be constrained by the political environment and will unlikely go back to some of the China positions he held in the past that were seen as relatively weak.Still, there would likely be more predictability in Biden’s policies. “You’re not going to have tweets announcing tariffs in the middle of the night kind of thing, but overall the trajectory is going to be more or less the same. I think China is going to have to deal with that reality moving forward,” Willems said.- Advertisement –center_img – Advertisement – President Donald Trump speaks during a campaign rally at Manchester-Boston Regional Airport in Londonderry, New Hampshire on October 25, 2020. Democratic Presidential candidate and former Vice President Joe Biden delivers remarks at a voter mobilization event in Cincinnati, Ohio, on October 12, 2020.Getty Imageslast_img read more

Huge shock in Park Express

first_img Afternoon Sunlight came through to deny Amulet the runner-up spot. Farrell said: “That’s the first time she’s got her ground. I always had faith in her, prepped her for today and just had to decide between this race and the Lincoln (Irish Lincolnshire). “She’s a big, strong yoke, and the ground will control everything as to where she will run. “I’ve only six in training and that’s my first Group-race winner. I always said if I got black type I might retire!” The five-year-old mare had registered just a solitary victory from 12 previous starts, with that triumph coming in a Leopardstown maiden almost two years ago. She looked right up against it going into a tough Group Three assignment, but got the job done under a tactically astute ride from Shane Foley, mowing down British raider Amulet for a two-length success. Bill Farrell claimed the biggest success of his training career on the first day of the Flat season at the Curragh as unconsidered 100-1 shot Ramone clinched a shock victory in the Lodge Park Stud EBF Park Express Stakes.center_img Press Associationlast_img read more

Why Long-Term Unemployment Isn’t As Bad As You Think

first_imgHere’s some good news for folks who’ve long been out of work: that big gap on your resume may not be hurting your job search as much as you think. A new study by three economists finds that while callbacks do decrease during early months of unemployment, by eight months out of the workforce, the effect levels off and more months of unemployment don’t particularly matter.Those findings come from what academics call an audit study. Researchers sent fictitious resumes to real job openings, and then tracked how callbacks differed according to how many months of unemployment appeared on each resume. The researchers, Kory Kroft of the University of Toronto, Fabian Lange of Yale University, and Matthew Notowidigdo of the University of Chicago, did this on a pretty grand scale, submitting more than 12,000 resumes to more than 3,000 online job postings across the nation’s 100 largest metropolitan areas.The headline result: employers called and offered an interview to seven percent of “applicants” who had been unemployed for just one month, and that callback rate steadily dropped as unemployment lengthened, with resumes showing eight months of unemployment receiving callbacks for interviews only four percent of the time. Yet after eight months, the callback rate didn’t drop too much more, even as the researchers extended the length of unemployment all the way out to 36 months.Furthermore, in parts of the country with high unemployment, callback rates didn’t vary nearly as much according to length of unemployment. The researchers surmise that employers understand that when the economy leaves a huge number of people out of work, a person being unemployed for a while isn’t nearly as telling a fact as it might be when jobs are more easily had.The researchers also found—to their surprise—that employers were more likely to offer an interview to a person who had been unemployed for a few months than to a person currently employed. After talking to some hiring professionals, the researchers figured that this might have something to do with the perception that the currently employed aren’t serious job seekers, or that negotiating salary or start date is tougher when a person still has another job.So what’s the take-away for unemployed job seekers?Well, first, it’s probably a good idea to do more than submit your resume to online job ads. In the study, resumes solicited a callback for an interview only 4.7 percent of the time overall. And while 12.6 percent received any sort of callback (including those asking for more information), neither hit rate is much to write home about. Additionally, the researchers threw out results from 83 job ads after deeming them “questionable” because of evidence that the employer was engaging in dishonest or deceptive behavior.Second, if you have been out of work for a while, it may be a good idea to indicate on your resume why you wound up jobless or how you’ve been spending your time. In order to construct their fictitious resumes, the researchers—and a legion of research assistants, to be sure—combed through about 1,200 real resumes in order to see how the unemployed typically present themselves. They found that 95 percent offered no explanation for the gap. Including a bit about how you’ve been working as a volunteer or pursuing additional training could make you stand out.Finally, if you are approaching some big milestone of unemployment—like the one-year mark—try not to worry too much about the signal unemployment is sending, especially if you are in a high-employment pocket of the country. The impact on your job prospects might not be as bad as you think.That said, the results of a single academic study should never be taken as gospel. In order to make the fictitious resumes comparable outside of unemployment length, the researchers created just one sort of worker profile—a young person without extensive job experience—and only applied for positions in sales, customer service, administrative support, and clerical work. Do the same trends hold across other industries and for more experienced workers? Or when people apply for jobs through channels other than online job postings? Unfortunately, we can’t tell from this study. Optimism is in order, but a cautious one.last_img read more

Jack Dorsey Named Twitter CEO; Employees Approve

first_imgToday Twitter co-founder Jack Dorsey announced he will permanently lead the company once again as CEO. Dorsey has been acting as interim CEO for the past three months after former CEO Dick Costolo stepped down amidst frustration from Wall Street with his leadership.In the short time that Dorsey served as interim CEO, he has gained support from employees. In fact, Dorsey received an impressive 100% CEO approval rating from Twitter employees who had shared their opinions on Glassdoor (rating based on 37 reviews, as of 10/5/15).After founding Twitter in 2006, Dorsey left the company in 2009 to found Square, the popular mobile payment app. As of now, he also remains the CEO of Square with a 97% approval rate, according to Square employees (based on 117 reviews, as of 10/5/15).Below are some of the recent company reviews Twitter employees left on Glassdoor prior to Dorsey’s move from interim CEO to permanent CEO. While many employees praise Dorsey for his transparent and motivational leadership, others have noted the impact of lackluster senior leadership within the company. “After Dick C.’s departure, management seems to have really rallied around one another, which is my view is 100 percent attributable to Jack’s leadership and moral authority.” – Twitter Director (San Francisco, CA)  “The hardest part is actually fighting the media’s portrayal of Twitter, our MAU, and our leadership. I feel like they’re trying to undermine a good thing, but ultimately, the open communication within the company helps dispel the lies.” – Twitter Solutions Engineer (San Francisco, CA)“I have watched Twitter flap for over a year with little progress, and now, understandably, investors are becoming angry. Costolo served as a scapegoat for Wall Street, but the truth is that he was very capable, and will be difficulty to replace.” –Twitter Software Engineer (San Francisco, CA)“Residual chaos from the early days (Ev and Jack management). Some really terrible bad apples still in the company.” – Twitter Employee (location, n/a)“Would like to see Jack have a much more public presence, he’s a cool guy and can do a lot to promote Twitter.” – Twitter Data Scientist (San Francisco, CA)“Figure out the CEO situation, but make sure it’s someone that can keep employees motivated as well as Jack Dorsey. An internal source may be preferable to an external source in that respect.” – Twitter Software Engineer (San Francisco, CA)For comparison, below are insights from Square employees about Dorsey and the senior leadership team:“Jack’s passion for helping businesses and changing commerce. It can be very inspiring.” – Square Employee (location, n/a)“Jack’s leadership is inspiring. I trust him to have clear intention for the business, but also care what’s happening inside the company. I feel like I can approach him and question how decisions were made, or why we do things the way we do.” – Square Employee (location, n/a)“Executive team leadership is disorganized and lacks the vision and innovation that made this company what it is. They are running Square as if it was Google and they can’t seem to understand they are two totally different types of companies.” – Square Employee (San Francisco, CA)“Immature leadership has been an ongoing theme for my entire tenure. It’s been a problem at every level of leadership from executive on down at some point or another. On the other hand – I think this is to be expected of a company this age and size, and is usually course-corrected eventually.” – Square Software Engineer (San Francisco, CA)It’s also important to note that well over the majority of Twitter employees (77%) and Square employees (84%) believe business will improve in the next six months (as of 10/5/15).What do you think about Dorsey as a leader of both Twitter and Square?Do you work at Twitter or Square? Share a company review.last_img read more