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China’s exporters fear heyday is over amid sour mood at Canton Fair as US-China trade war lingers

The optimism expressed by officials from China and the United States suggesting the trade war is almost over has not trickled down to small exporters exhibiting their products at China’s largest export fair, who fear that, with or without a deal, the heyday for Chinese exports is over.Exporters at the Canton Fair in Guangzhou, the country’s biggest export exhibition held in every spring and autumn, remain cautious over the outlook for US-China trade relations and the prospects for selling… Source link

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China sees brighter outlook for yuan and foreign investment as US-China trade war deal nears

The odds of capital exodus from China and of a slide in the value of the yuan exchange rate have diminished thanks to China’s steady domestic growth, progress in trade talks with the United States and the decision by the US Federal Reserve to halt its interest rate increases, China’s foreign exchange regulator said on Thursday.The US Federal Reserve’s announcement that it no longer plans to raise interest rates this year will mean that the difference between US and Chinese interest rates will… Source link

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China 

China consumer spending ‘not fully recovered’ from US-China trade war despite improving sentiment

Chinese consumer spending “stabilised but has not fully recovered” in the first quarter of the year even though overall economic growth was stronger than expected due to Beijing’s stimulus measures, according to a China investment strategist and former US diplomat.The nominal growth rate of household consumption actually slowed further to 7.3 per cent, down from 8.0 per cent in the fourth quarter and 7.6 per cent in the first quarter a year ago.But gross domestic product, fixed asset investment… Source link

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Global 

US-China trade war: if Trump and Xi agree ‘grandaddy’ of trade deals, here’s what comes next

After more than a year of tussling, Beijing and Washington “are rounding the turn” to achieve “the grandaddy of all” trade deals in the coming weeks, to borrow US President Donald Trump’s interesting turn of phrase.To be sure, fretting that the deal could stall or collapse at the last minute is still valid partly because of Trump’s wilful unpredictability, but the deal is more likely to happen than not.If anyone is looking for any fresh sign of confirmation, Trump gave one last week when he… Source link

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HSBC warns global growth is slowing, US-China trade war weighing on sentiment

HSBC’s top leaders warned on Friday that global growth is slowing and continuing trade tensions, including a trade war between the US and China, are weighing on economic sentiment.Chief executive John Flint said that “increased uncertainty and risk” in the global economy are related to rising protectionism, questions about the United Kingdom’s exit from the European Union known as Brexit and the future path of interest rates.“This is yet to translate into higher credit losses, but that could… Source link

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China 

US-China trade war ‘still within control’, Beijing says, as trade gap widens due to soaring Chinese exports

The US-China trade war is “still within control”, said a Chinese government spokesman, as the country’s trade surplus widened significantly in March.Exports soared while imports crashed, new data released on Friday showed, with analysts pointing to the seasonal distortions of the Lunar New Year holiday, as well as possible Chinese government intervention in the economy.“The China-US trade frictions have caused certain impacts to the operations of Chinese companies, but we think the overall… Source link

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Donald Trump urged by former US official to include allies in US-China trade war deal

The United States risks losing the spoils of the trade war if it does not include long-standing allies in a deal with China, according to a former senior US trade official.Wendy Cutler, who was acting deputy US trade representative during the Obama administration, urged US President Donald Trump to forget his “preference for unilateral actions” and work with the European Union, Japan and other allied nations in a bid extract maximum benefit from trade talks with China.“While the US market… Source link

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US-China trade war damages export powerhouse Taiwan’s growth prospects, as global demand softens

Taiwan’s growth prospects are edging down, with the US-China trade war placing strain on the export powerhouse’s economy. Sluggish global demand is adding to Taiwan’s poor trade performance, with exports falling 4.4 per cent in March, a fifth straight monthly decline. Exports cover 77 per cent of Taiwan’s gross domestic product (GDP), which the budget office estimates will reach $595 billion this year. That weighting makes the island vulnerable to global demand shifts offshore. The picture… Source link

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Telescopes row brings US-China trade war into sharp focus with Chinese firms accused of ‘cartel-like behaviour’

The antitrust case, which will proceed to trial in the Northern District of California, sees Chinese companies accused of colluding to “coordinate the manufacture, marketing and distribution of telescopes in the US” in a way that has squeezed the profits of an employee-owned American firm. Photo: SCMP Photo Source link

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Donald Trump’s four-week time frame to end US-China trade war is an ‘uncertain timetable’, says state media

Donald Trump’s four-week time frame for the United States and China to settle on an agreement to end the trade war is not guaranteed, with an editorial in a newspaper closely affiliated with Beijing urging patience “as neither side has made any promise that there will definitely be a deal.”US President Trump met Chinese Vice-Premier Liu He on Thursday and said that the two nations would know “over the next four weeks” whether a trade deal could be reached.But while it is still uncertain when,… Source link

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