Global 

South Korea seeks US intervention to heal deepening rift with Japan over hi-tech export restrictions

South Korea has intensified diplomatic efforts to involve the US in its bitter dispute with Japan, holding high-level meetings in Washington and warning of the negative impact on global trade if the stand-off is not resolved.Foreign minister Kang Kyung-wha spoke to US Secretary of State Mike Pompeo by phone and conveyed South Korea’s concerns over Japan’s “undesirable” export restrictions affecting hi-tech materials, the foreign ministry said.“Minister Kang said Japan’s trade restrictions could… Source link

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Brexit apart, Spain’s political uncertainty is a microcosm of the euro zone’s deepening troubles

Political parties in Spain will enter campaign mode this week after Prime Minister Pedro Sánchez on Friday called for an early general election, the third such ballot in as many years. However, far from being an exception, the latest political uncertainty in the euro zone’s fourth-largest economy comes as there are mounting signs of political instability and stagnating growth in other large European economies like Germany, France and Italy. With the euro zone “celebrating” its 20th anniversary… Source link

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China 

China must quickly ‘quench the immediate thirst’ of a deepening economic slowdown, senior economist Yu Yongding says

Arresting a deepening economic slowdown, not making “baseless” deep-rooted structural reforms, should be the top priority for China’s economy in 2019, a senior economist said. Yu Yongding believes Beijing needs to take every possible measure, including increasing money supply and boosting fiscal spending, to prevent the world’s second largest economy from tanking. “China’s experiences in the last 40 years have told us that, all the problems will worsen if we can’t maintain economic growth rate at a certain level,” Yu, a senior research fellow at the Chinese Academy of Social…

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Bitcoin’s deepening crash now rivals its worst-ever bear markets

Bitcoin’s tumble worsened over the weekend, putting the 2018 crash within striking distance of the cryptocurrency’s worst-ever bear markets. The virtual currency, conceived just over a decade ago, fell as low as US$3,475 on Sunday, Bitstamp prices show. It was trading at US$3,949 as of 11.23am in Hong Kong, according to Bloomberg composite pricing. That’s 7.3 per cent below its level at 5pm New York time on Friday, and about 79 per cent below its closing peak in December. The great cryptocurrency crash of 2018 may not be over The…

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