China 

Donald Trump says his friendship with Xi Jinping not as good

This story is published in a content partnership with POLITICO. It was originally reported by Doug Palmer on politico.com on July 15, 2019.The US-China trade war has taken a toll on President Donald Trump’s friendship with Chinese President Xi Jinping.“I used to say he was a good friend of mine,” Trump said on Monday at a White House event.“We’re probably not quite as close now. But I have to be for our country. He’s for China and I’m for USA, and that’s the way it’s got to be.”Trump campaigned… Source…

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Money 

Donald Trump goads China over record low GDP growth rate as US trade war tariffs hit slowing Chinese economy

US President Donald Trump used his first tweets of the day on Monday to goad China about its slowest gross domestic product growth rate on record, while better-than-expected economic data for June was met with “scepticism” and “caution” by analysts, rather than as a sign of a turnaround in the economy.China’s gross domestic product (GDP) growth slid to 6.2 per cent in the second quarter of 2019, the lowest reading since records began in March 1992, and below the levels reported during the… Source link

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Home 

Donald Trump is putting global cooperation to a stress test. And the world may be better for it

(From left) Canadian Prime Minister Justin Trudeau, Argentinian President Mauricio Macri, US President Donald Trump, Russian President Vladimir Putin, European Council President Donald Tusk, IMF managing director Christine Lagarde, South Korean President Moon Jae-in and Senegalese President Macky Sall take their positions for a group photo at the G20 Summit in Osaka on June 28. Photo: AFP Source link

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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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Home 

From Donald Trump to Brexit and Europe’s new right, populism is driven by both cultural and economic anxiety

Is it culture or economics? That question frames much of the debate about contemporary populism. Are Donald Trump’s presidency, Brexit and the rise of right-wing nativist political parties in continental Europe the consequence of a deepening rift in values between social conservatives and social liberals, with the former having thrown their support behind xenophobic, ethno-nationalist, authoritarian politicians? Or do they reflect many voters’ economic anxiety and insecurity, fuelled by… Source link

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China 

Donald Trump pushed Xi Jinping to commit to buying US farm goods at G20, but Xi avoided firm pledge

In the 80-minute summit between US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Osaka last month, Trump pushed for a Chinese commitment to make large-scale purchases of US agricultural products.However, Xi made no specific commitment during the meeting, according to a source who was briefed on the high-stakes meeting, and no purchases have been recorded in the week since.This account reflects the diverging statements made by each side… Source link

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Home 

Chinese excavator giant Sany digs in for long haul, sidesteps Trump tariffs with US-based production

Sany Heavy Industry, China’s biggest heavy machines manufacturer by sales, last week started assembling from scratch hydraulic excavators at its US headquarters in suburban Atlanta, Georgia.The company is putting together its SY215 and SY265 models from broken-down parts sourced from China, as well as the United States, Japan and South Korea, in what is known as completely knocked down production. Up until October 2018, it was importing only complete machines from China.“They are in the medium… Source link

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Home 

Despite Trump and Xi’s G20 handshake, trade woes will remain a drag on markets, especially in Asia

Trade concerns will continue to plague markets for the rest of 2019 and well beyond. This is not only the result of the US government’s shift towards more protectionist policies, but also due to the effects of slowing global growth on international trade.Setting aside the US-China trade dynamic – but only momentarily, as this situation is one of the most important considerations when making asset allocation decisions this year – markets care about trade because of what it signals for business… Source link

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China 

US-China trade truce increases pressure at home for both Trump, Xi to cut a deal, analysts say

For decades, Jasco Products Company has outsourced production of its doorbells, lights and surge protectors to China without a second thought. But, a trade war with the United States that has been raging for the last year has put the Oklahoma-based company and thousands of other firms like it – both American and Chinese – at risk.The tit-for-tat battle between the world’s two largest economies is already weighing on business confidence, analysts have warned, and has the potential to tip the… Source link

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Donald Trump wants a weaker US dollar. But that’s just bad economics

Is the tide finally turning against King Dollar? The Bloomberg Dollar Spot Index – a gauge of the greenback’s performance against a basket of other major currencies – has dropped 1.4 per cent since the end of May.Currency traders, moreover, are turning bearish on the dollar, increasing their underweight positions since the start of last month, according to data from Bloomberg.The slide in the dollar will embolden US President Donald Trump to step up his intervention to weaken the currency,… Source link

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