Global 

Donald Trump accuses China of ‘letting us down’ by not keeping G20 promise to buy US farm goods

US President Donald Trump is accusing China of “letting us down” by not promptly buying more US farm products.“They have not been buying the agricultural products from our great Farmers that they said they would,” the president said on Twitter. “Hopefully, they will start soon.”After meeting with Chinese President Xi Jinping late last month, Trump said China had agreed to buy more US agricultural products as part of a ceasefire in the two countries’ trade war.The truce suspended US plans to… Source link

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Singapore 

‘I knew we would have differences from time to time’: ESM Goh on keeping Lee Kuan Yew as senior minister, Singapore News

SINGAPORE – When Emeritus Senior Minister Goh Chok Tong took over as prime minister from Mr Lee Kuan Yew in 1990, he decided to keep Mr Lee in the Cabinet as a senior minister so that any differences between them could be resolved internally. “You know Lee Kuan Yew; if things were to go wrong, even from the grave he would get up. If I were to do something wrong as PM, I would expect him to say something in public,” Mr Goh said on Tuesday (June 4). “It would…

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China 

Donald Trump’s threat to increase China tariffs dashes hopes of keeping yuan exchange rate stable

Hopes that China will meet demands by the United States to include a provision to prevent an unfair devaluation in the yuan’s exchange rate is fading rapidly, according to analysts.A demand from the US to limit the yuan’s depreciation and thus the competitive advantage given to China’s exporters was seen as an acceptable condition for Beijing to end the trade war.That helped drive a 1.46 per cent appreciation in the yuan against the US dollar this year, the second best performer among Asia’s 11… Source link

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Home 

What inflation? In the US, a strong dollar, steady oil prices and low wage growth are keeping it low – for now at least

It wasn’t the immediate threat of a US economic slowdown that caused the Federal Reserve to sharply change its policy stance at its March meeting – from forecasting interest rates would rise twice in 2019, to predicting they’d stay put for the rest of the year. Rather, a lack of inflationary pressure in the US economy means the central bank feels it can afford to pause rate hikes and focus on supporting growth. It’s true that the inflation threat isn’t an issue – for now at least. The core… Source link

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Home 

Long commute, cost of property and health care – just some of the concerns keeping Hongkongers from living in Zhuhai

Alan Lau is among early birds with licences allowing use of the Hong Kong-Zhuhai-Macau Bridge. He got the licence, which cost him HK$400,000 (US$50,959), early last year.The route saves him two hours. “I go to Zhuhai every week now. It presented a headache for me previously, and I would visit our local partners there just once a month,” he says.But Lau, who expects more work in Zhuhai in the future, and expects to travel to the mainland China city a couple of times a week, is not considering… Source link

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Home 

The Chinese tradition of giving red packets gets a digital update, keeping it alive and well

One of the enduring traditions for Chinese communities globally is for adults to give the young red packets containing money during the Lunar New Year as a blessing of good luck and well wishes. Broadly speaking, many Chinese consider marriage as the definition of adulthood, and therefore those who have entered into matrimony earn the right to dispense red-paper packets to those who have not. Bosses also give “lucky money” to subordinates, while in many places, Chinese would give service staff small sums of money, much like how New Yorkers…

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China 

Chinese Premier Li Keqiang says he is confident of keeping growth in ‘appropriate range’ in 2019

China is confident it can maintain its economic growth within “an appropriate range” this year despite the prevailing headwinds, state media quoted Premier Li Keqiang as saying. Speaking in Beijing on Friday at a gathering of foreign academics – including American Paul Romer, a winner of the Nobel prize for economics – Li highlighted the country’s vast resources and determination to keep the government’s expansion plans on track, Xinhua reported. “China’s economy has enough resilience, potential and room for growth, especially with a huge domestic market and rich human resources…

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China 

China quietly cuts borrowing costs while keeping rates on hold

The People’s Bank of China (PBOC) has been quietly guiding interbank borrowing costs down without actually cutting official interest rates, with the latest move a record one-day injection of cash into the market. The central bank pumped a net 560 billion yuan (US$83 billion) into the financial system on Wednesday, the biggest open market operation on record. While that action was mostly aimed at addressing a funding shortage ahead of Lunar New Year, it also speaks to a policy priority for the PBOC – providing cheaper funding to banks to…

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Home 

In Hong Kong, public consultations are effective – at keeping the public at bay

Usually, the Hong Kong government is discreet enough to allow the passage of time before ignoring the outcome of public consultation exercises, assuming they are not among those devised to predetermine their outcome. However, in the case of one of the biggest of these exercises, the consultation on land supply, the chief executive not only pre-empted the publication of its findings but opted for a solution that went way beyond anything proposed in the list of options presented to the pubic. So far this year, as was the case last…

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Money 

US House passes defence bill while keeping a wary eye on Chinese investments

The US House of Representatives on Thursday passed a US$716 billion defence appropriations bill that includes language to tighten regulations on Chinese investments in the United States and prohibit the US government from buying products from major Chinese telecoms firms, including ZTE. The John S. McCain National Defence Authorisation Act passed the House by a vote of 359-54. It goes now to the Senate for its approval before being sent to President Donald Trump to sign into law. US lawmakers agree to pull back from ZTE ban The measure restricts…

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