The site, in Zambia, could make billions for Silicon Valley, provide minerals for the energy transition and help the United States in its rivalry with China.
From cars to solar panels to furniture, China is using lavish bank lending and enormous investments in robotics to cement its global leadership in manufacturing.
La economía china se beneficia del aumento de las ventas de productos manufacturados al exterior, que crea empleos. Pero el impacto podría sentirse en las fuerzas laborales de Europa y Asia.
Increasing overseas sales of manufactured goods are helping China’s economy and creating employment, but countries from Europe to South Asia may lose jobs.
Premier Li Qiang targets economic growth of about 5 percent this year as China signals readiness to borrow more for spending programs.
Hefei has led the country in making electric vehicles and other tech products, but it still has not escaped a nationwide housing crisis.
The announcement underscores the threat to European and U.S. automakers posed by Chinese electric-vehicle manufacturers.
The country’s trade with Russia this year has exceeded $200 billion, and makers of cars and trucks are the big winners.
The Treasury Department pledged to carefully scrutinize foreign investments in the United States for national security threats.
Volkswagen is shifting more operations to China, tapping the country’s electric vehicle capacity and building factories.