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Mark it zero, dude! Facing tariff hike, family-run maker of bowling shoes and bags struggles to leave China

Brad Handelman has been trying to move his family’s business out of China for years, but has only come up with gutterballs.He has looked at Bangladesh, Cambodia, India and Vietnam for new manufacturers, but has had zero strikes in shifting his sourcing for bowling shoes and bags away from China.Now, Strikeforce Bowling, based in Melrose Park, Illinois, is facing an additional 25 per cent tariff on its bowling shoes later this year after being hit with a similar higher duty on bowling bags last… Source link

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Vietnam 

Việt Nam’s agricultural products facing barriers to enter Chinese market – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Two officials from the Ministry of Agriculture and Rural Development check the quality of cassava in the southern province of Tây Ninh. — VNA/VNS Photo Thanh Tân HÀ NỘI — Many of Việt Nam’s agricultural products – especially rice, vegetables and cassava – have faced barriers preventing their export to China, according to the Ministry of Agriculture and Rural Development. The ministry’s Agricultural Product Processing and Market Development Department said cassava is the latest export from Việt Nam to China to face strict controls on labelling, packaging and information as well as a tightening of import procedures at…

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Alarm bell on one million species facing extinction has been sounded and heard. What now?

I am lucky to live up in Clear Water Bay, with mountains behind and an open shallow bay at my front door. This means I had a front-row seat on the threat of global warming as Typhoon Mangkhut ripped through Hong Kong in September last year. I do not need the 1,700-page report by the Intergovernmental Science Policy Platform on Biodiversity and Ecosystem Services (IPBES), released last week, to remind me about the chunks of nature we are losing as we crowd, overexploit and pollute our planet. … Source link

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China pork prices could rise 70 per cent this year, with millions of animals facing cull

Pork prices in mainland China may rise by more than 70 per cent year on year to record levels in the second half of 2019 following a drop in hog supplies, Tang Ke, a department director at China’s ministry of agriculture and rural affairs, said on Wednesday.Chinese farmers have had to cull their pig populations to combat an outbreak of African Swine Fever that began in August last year.Meanwhile, the share prices of large meat processors in the country have risen thanks to optimism that higher… Source link

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Vietnam 

Việt Nam’s steel industry facing nearly 50 anti-dumping and –subsidy investigations – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Steel is subjected to the highest number of trade defence investigations in the world because it is produced by many countries and is considered a product related to national security. — Photo diendandatdai.com HÀ NỘI — Việt Nam’s steel industry is facing 47 anti-dumping and anti-subsidy investigations from importing countries, accounting for one-third of the total cases of Vietnamese goods, according to a report from the Ministry of Industry and Trade (MoIT)’s Trade Defence Department. According to Phạm Châu Giang, deputy director of the department, steel is subjected to the highest number of trade defence…

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Is ‘Iron Lady’ Dong Mingzhu’s Gree Electric facing an ownership shake-up? Air con giant plans partial stake transfer

Gree Electric Appliances, the air conditioner giant chaired by one of China’s best known and toughest businesswomen, said its state-owned controlling shareholder was planning a “partial stake transfer”, which could result in a change of the ownership structure.Gree Electric is controlled by the Zhuhai city government, which owns 100 per cent of the Gree Group. Gree Group was the biggest shareholder of Gree Electric with an 18.22 per cent stake as of the end of September.The company’s biggest… Source link

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Singapore 

Gojek driver in dispute with elderly passenger apologises: “I’m facing a lot of stress”, Singapore News

The Gojek driver seen in a heated dispute with an elderly passenger over a $7 fare discrepancy has come forward to give his side of the story. A video circulating online shows the dispute, which started due to how the passenger was quoted $14.10 on his app when booking the ride, while the fare was $21.10 on the driver’s app. A Gojek spokesman told Stomp in a statement that it has since taken swift action to resolve the matter with both parties. In a Facebook post on Saturday (March 30),…

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Mainland buyers facing stiffer competition from South Korean and Singaporean investors for property abroad

In September 2015, HNA Group, the financially stretched mainland conglomerate, shelled out £235 million (US$311 million) for 30 South Colonnade, a trophy office building in London’s Canary Wharf district that at the time was the UK headquarters of Thomson Reuters.  Fast forward 3½ years and HNA, which has been frantically disposing of assets across the globe to extricate itself from a severe liquidity crunch, is reportedly in advanced negotiations to sell the property at a 60 per cent discount… Source link

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China 

Chinese investors ‘facing severe situation in the US’

Chinese firms have been warned that the investment environment in the United States is rapidly deteriorating in a report that also called for more government protection for the country’s increasing overseas interests. In its sixth annual report evaluating country-specific investment risks, the Institute of World Economics and Politics, a government think tank under the Chinese Academy of Social Sciences, ranked the United States investment environment as number 14 out the total of 57 countries, a drop of 10 places from a year ago. The institute also gave the world’s largest…

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Evergrande, facing credit squeeze, looks to domestic market for fundraising

Junk-rated China Evergrande Group, the nation’s second largest builder by sales, is turning to the domestic market for fundraising after its offshore bond issuance hit record high coupon rates, as investors become concerned about fallout from the cooling property market. Evergrande Real Estate Group, the flagship subsidiary under the Evergrande Group, has received approval to raise 1.21 billion yuan (US$174.21 million) through the issuance of asset-backed securities (ABS), according to a notice on the Shanghai Stock Exchange on Friday. It is the second approval for ABS issuance granted to Evergrande…

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