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China applauds ‘positive’ Donald Trump tweet, hopes for US trade war deal ahead of Washington talks

Chinese President Xi Jinping urged for a “mutually beneficial” trade deal in this week’s talks when he met US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin in Beijing on Friday, according to Xinhua. Photo: Xinhua Source link

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Singapore’s January exports to China collapsed in ‘very worrying’ development for both economies

Singapore is feeling the pinch of China’s economic slowdown as exports to the mainland collapsed in January.Non-oil exports to China showed a dramatic fall in January, crashing by 25.4 per cent, while Singapore’s oil exports to China plummeted by 30.8 per cent, showing a broad-based decline, and sparking concern about the economic prospects of both nations.Sales of gold to China collapsed by 94.9 per cent, while specialised machinery exports fell 55.2 per cent and measuring instruments fell 40… Source link

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With or without trade war deal, disputes between China and US set to intensify, says Beijing commentator

It is wrong to advocate confrontation, but it is not right to pretend there is peace either. In the current economic climate, China and the United States may reach a trade deal to avoid an escalation in the current tariff war, but such an agreement will not lead to harmonious coexistence between Beijing and Washington. Demands from Washington can be generalised into two main themes. One is asking China to open up its market further, and the other is asking China to reform its state-led… Source link

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Donald Trump’s fair trade and intellectual property demands ‘good for China’, says economist Jin Keyu

US President Donald Trump’s demands for China to protect intellectual property rights and to conduct fairer trade practises are “actually good for China”, Jin Keyu, an associate professor of economics at the London School of Economics, said. “What the US are demanding of China to do in terms of better protection of intellectual property and fairer trade practises are all good things for China in the long run,” said Jin in an interview this week. “What President Trump is asking China to do is actually good for China, it’s a…

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US-China trade war having ‘no effect’ on China steel, amid surging domestic market and tariff exemptions

The trade war between the United States and China is having “no effect” on the Chinese steel sector, which is being propped up by “surging domestic demand”, according to a new study. New research by US analysts shows that Chinese steel producers are enjoying more exemptions from US President Donald Trump’s tariffs on steel than those from US allies Canada, South Korea, Spain and the United Kingdom. This is despite the fact that when the tariffs were invoked under Section 232 of the Trade Expansion Act of 1962, ostensibly on…

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China President Xi Jinping to meet top US delegation on Friday in pursuit of trade war deal, sources say

China’s President Xi Jinping “is scheduled to meet” key members of the US trade talks delegation, including US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin, in Beijing on Friday, according to sources close to the matter. “Xi is scheduled to meet both Lighthizer and Mnuchin on Friday,” one source who had been briefed on the arrangements told the South China Morning Post. A second source said that Xi is expected to meet the US delegation in Beijing this week, although the specific timing has not yet been…

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No-deal Brexit and US-China trade war deadlines loom, but new ECB top economist says: ‘don’t panic’

The global economy is hurtling towards two of the most potentially severe headwinds in a decade, but the incoming chief economist of the European Central Bank had a message in Hong Kong on Tuesday: don’t panic. March will see deadlines expire for the partial truce in the US-China trade war and for the United Kingdom to negotiate an orderly exit from the European Union, both of which have the potential to send shock waves through the global economy. Philip Lane, who was endorsed by European finance ministers on Monday to…

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United States to remain sole global economic superpower until 2035, Chinese government think tank says

The United States will remain the world’s only global economic superpower until 2035 even though China’s role in the world economic landscape will become more important, according to Beijing’s latest predictions, in an apparent toning down of the mainland’s public ambitions for its future role in global economy. While the report by the Development Research Centre of the State Council (DRC) does not directly address the rivalry between China and US, it does attempt to project a relatively low profile role for China over the next two decades. It is…

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‘China’s economy reached new heights’: How the slowdown is being reported by Chinese state media

China’s economic slowdown is headline news around the world, with readers intrigued by the ongoing trade war with the United States. But how is it being reported in China’s state media? Gross domestic product (GDP) Why it is important: This is the headline figure generally viewed as a barometer for the overall health of an economy. It is commonly described as “economic growth”. The fact: China’s economy grew at 6.6 per cent in 2018, the slowest growth rate since 1990. It slowed from 6.9 per cent in 2017. How was…

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US trade deficit with China narrows, as effects of trade war-induced export front-loading begin to fade

The United States’ trade deficit with China narrowed in November, led by a decline in imports of consumer goods such as cars and mobile phones. The latest data from the US Department of Commerce, which had delayed by the long-running government shutdown, will be well-received by US President Donald Trump, who has railed against the perceived lopsided US trading relationship with China. For decades, China has sold a far greater volume of goods to the US than it bought, leading Trump to declare on the presidential campaign trail in 2016:…

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