China 

China economy at more risk from EU recession than US trade war, economist El-Erian says

The “sizeable” chance of a recession in the European Union poses a greater to the Chinese economy than the ongoing US-China trade war, according to noted economist Mohamed El-Erian.The EU is China’s largest trading partner and, according to El-Erian, chief economic adviser to the Allianz Group, the world’s third-largest financial services company by revenue, has “between 50 and 60 per cent” chance of entering recession later this year or early next.This would mean weaker demand for Chinese… Source link

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Global 

US hit back against EU with tariff retaliation over ‘harmful’ Airbus subsidies

The United States has proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to impose tariffs as retaliation for aircraft subsidies.With the move on Monday, the US Trade Representative (USTR) said it was kicking off the process for retaliation against over US$11 billion worth of damage from European Union subsidies to Airbus that the World Trade Organisation (WTO) has found cause “adverse effects” to the United States.The… Source link

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Global 

China’s fragile trade economy could be at risk, as EU outlook goes from bad to worse

A recession in Europe would hit demand for Chinese exports and could lead to a further narrowing of China’s trade balance, analysts have said.Existing concerns that Europe was on the verge of a recession were stoked on Friday by new data which shows the bloc’s manufacturing sector is struggling.The euro zone purchasing managers index (PMI) showed that manufacturing contracted in March, at a rate not seen in nearly six years. Along with the already weak performances of major European economies… Source link

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Home 

Debt-laden Italy eyes China’s belt and road, risking more than just the wrath of Donald Trump and the EU

Is China’s “Belt and Road Initiative”, as Italian Finance Minister Giovanni Tria says, “a train that Italy cannot afford to miss”? Prime Minister Giuseppe Conte also thinks Italy should jump on board, saying the multibillion-dollar Chinese infrastructure plan is “an opportunity for our country”. Italy’s government plans to sign a memorandum of understanding with China on the belt and road scheme during Chinese President Xi Jinping’s March 22-24 visit, making it the first founding European Union… Source link

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China 

EU accelerates moves to block China’s market access

Europe is moving unexpectedly quickly to restrict Chinese access to big public projects ranging from railways to telecoms.Only a week after Brussels branded Beijing as a “systemic rival”, EU leaders attending a summit on Thursday are expected to yield to pressure from Berlin and Paris and “endorse” a law that will restrict the access of Chinese companies to the EU’s €2.4 trillion-per-year public procurement market.Many industrial EU countries are increasingly frustrated that their leading… Source link

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Vietnam 

Hoa Sen exports 15,000 tonnes of steel sheets to EU – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News BÀ RỊA-VŨNG TÀU – Steelmaker Hoa Sen Group (HSG) exported 15,000 tonnes of steel sheets to the UK, Germany and Italy late last week. The steel sheets were exported from Hoa Sen Phú Mỹ Plant in the southern province of Bà Rịa-Vũng Tàu. The company also announced the opening of its new hot-dip galvanized steel pipe plant in the province. Developed by its member company, Hoa Sen Phú Mỹ Joint Stock Company, the plant was built on an area of 5.3ha in Phú…

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Home 

New EU scrutiny mechanism to cool Chinese acquisition of strategic assets in Europe, says ING

An EDP power plant in Sines, Portugal. Further scrutiny of Chinese acquisition could affect deals such as hydropower giant China Three Gorges’ attempt to increase its stake in the power generator and distributor Energias de Portugal to 100 per cent, according to ING. Photo: Reuters Source link

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EU derails Franco-German deal to create rail giant aimed at China’s competitive threat

BRUSSELS – European Union authorities blocked a deal to create a rail giant that could compete with China, angering France and Germany so much that they vowed to change the way the EU oversees such mergers. The decision raised thorny questions of how to stand up to the growing economic might of China, where the government has no qualms creating state-backed monopolies with the power to strike deals around the world. But EU Antitrust Commissioner Margrethe Vestager kept her focus squarely on European customers, saying on Wednesday the Franco-German merger…

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As Brexit debate begins, Hong Kong financial firms seek to avoid being tripped up by UK divorce from EU

The ongoing drama surrounding the acrimonious break-up between Britain and the European Union could affect thousands of businesses that use London as a base for their European operations. Though the drama is playing out more than 9,000 kilometres away, some of Hong Kong’s biggest financial institutions are trying to avoid being caught in the middle. HSBC and Standard Chartered – two of the three lenders that issue bank notes in Hong Kong and important drivers of the city’s economy – are among those that have been planning for Brexit since…

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China 

EU expands WTO case against China’s alleged forced technology transfers

The European Union expanded its challenge against China at the World Trade Organisation over laws it says force the transfer of technology in areas including electric vehicles and crop seeds. The European Commission, which oversees trade policy in the 28-member European Union, said on Thursday it was significantly broadening and deepening the scope of its World Trade Organisation (WTO) action against China. A European Union official said Brussels had informed its partners of its action, but the challenge was not a joint one. The European Union’s new complaint focuses on…

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