Global 

Donald Trump’s trade war tariffs on China failing to bring jobs and manufacturing back to the US

This story is part of an ongoing series on US-China relations produced jointly by the South China Morning Post and POLITICO, with reporting from Asia and the United States.When Nikki Haley, then-governor of South Carolina, went to an opening ceremony for Kent International in 2014, the bicycle company had grand plans for expansion at its assembly plant to enable it to make its products in the United States.This was two years before US President Donald Trump promised that his steep tariffs on… Source link

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China 

China to throw huge public relations bash to woo global investors turned off by US trade war

China plans to stage a big public relations event this autumn to send a message to multinationals that the country remains open to businesses, despite a deepening trade war with the United States.China’s Ministry and Commerce and the Shandong provincial government announced the event on Wednesday, which will be held in Qingdao in October. It is the latest addition to a long list of government-sponsored events in China to woo trade and investment flows and attempt to present a friendly face to… Source link

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Home 

Weak earnings led by Xiaomi keep gains in check in Hong Kong as investors await trade war developments

Weak earnings by Chinese smartphone giant Xiaomi as well as Hong Kong and China Gas weighed on the Hang Seng Index, with the ongoing US-China trade war being blamed for at least part of their difficulties.Even so, the Hang Seng Index managed to eke out a small gain on Wednesday, closing ahead 0.15 per cent, at 26,270.04.The Shanghai Composite also held on to a teensy gain – a mere 0.01 per cent, which left it at 2,880.33. The Shenzhen Composite Index ended down a bit, by 0.09 per cent, at…

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China 

China increases minimum monthly wages despite soaring costs of US trade war

Concerns over rising costs and the trade war with the United States may be hastening the exit of firms from China, but that has not stopped four provincial-level administrations from raising their monthly minimum wage for local workers this year.Beijing is the latest to adjust its minimum wage, with the capital city increasing its base by 80 yuan (US$11) to 2,200 yuan (US$311) per month from July 1 following last year’s increase of 120 yuan, according to data released by the Ministry of Human… Source link

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Vietnam 

Programme built to better use of trade remedies – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Tra fish processing at Hùng Cá Company in the southern province of Đồng Tháp.  A number of industries will benefit from the programme including steel and iron, chemicals and chemical products, fertilisers and nitrogen compounds, wood, fisheries, and farm produce. — VNA/VNS Photo Anh Hiếu HÀ NỘI — A report on the building of a general programme for the use of trade remedies in several production industries is being compiled by the Trade Remedies Authority of Việt Nam (TRAV) under the Ministry of Industry and Trade. It aims to restructure…

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Vietnam 

Việt Nam adopts pro-active measures to protect trade – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Illustrative Image. —Photo hanoimoi.vn Lương Kim Thành, a senior officer from the Trade Remedies Authority of Việt Nam, talks to Hà Nội Mới (New Hà Nội) newspaper on Việt Nam’s resolve to be pro-active in the international market in all circumstances. Do you know why many countries have recently increased their monitoring activities against the flow of Vietnamese goods exported to their countries? With tense Sino-US trade relations, many countries have strengthened their trade protection measures to protect their local markets and production. Thanks to its lucrative policies on foreign investment,…

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Stocks Blog: Xiaomi earnings, Trump's trade comments likely to weigh on Hong Kong opening

Good day traders, Overnight in the US, the S&P 500, Dow and Nasdaq fell, with US President Donald Trump sounding pessimistic about reaching a deal with China anytime soon. Meanwhile, in Hong Kong the city is bracing for another day of protests.    If you have any feedback, please send them to deb.price@scmp.com . — Yujing Liu, Deb Price and Srinivasan Iyer in Hong Kong Source link

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Caught in the middle of trade war, Huawei may seize 90-day US trade reprieve to plan next moves

“As we continue to urge consumers to transition away from Huawei’s products, we recognise that more time is necessary to prevent any disruption,” Ross said in the Commerce Department announcement. “Simultaneously, we are constantly working at the department to ensure that any exports to Huawei and its affiliates do not violate the terms of the Entity Listing or Temporary General Licence”, he said, referring to the mechanism that allows US companies to continue buying and selling with Huawei despite the inclusion of the company and many of its affiliates on…

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China 

US trade war dominates agenda at China’s premier soybean conference as American imports plummet

China’s trade war with the United States was the biggest theme at a soybean industry gathering attended by over 800 growers, traders and officials in the city of Harbin in Heilongjiang province last week, with tariffs having seriously disrupted the flow of the agricultural product between the two countries.With imports from the US having plunged, China’s soybean industry insiders at the conference heatedly debated with an unusual sense of self-importance how they can boost domestic output,… Source link

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Hong Kong, China markets gain most in about two months as trade progress, Shenzhen plan boost sentiment

Hong Kong stocks posted their best daily performance in two months on Monday, while China markets jumped the most in seven weeks as investors cheered Beijing’s grand reform plan for Shenzhen and progress on the trade talks.The Hang Seng Index surged 2.2 per cent, or 557.62 points, to finish at 26,291.84, recording its biggest daily advance since June 19. The Shanghai Composite Index climbed 2.1 per cent to 2,883.1, posting its best daily performance since July 1. The Shenzhen Component Index… Source link

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