USChina – Asia Business

US-China rivalry makes rare earths a matter of national security, rather than economics

June 16, 2019 AsiaBearths, Economics, matter, national, rare, rivalry, security, USChina

If there is anything truly rare about rare earths, it must surely be the number of times any one of us ever thought or talked about them, until just a few months ago. But for some, rare earths have been front of mind for decades. China’s paramount leader Deng Xiaoping, who in 1987 visited Baotou in Inner Mongolia, noted later: “The Middle East has oil, China has rare earths.” In the United States, it seems rare earths has been a cottage industry for security strategists for decades. The more… Source…

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How US-China tech war is rippling through the global supply chain

June 13, 2019 AsiaBchain, global, rippling, supply, tech, USChina, war

For many years, digital imaging technology supplier Altek Corp relied on private demonstrations to generate business from its handful of large clients in China.The Taiwanese hi-tech supplier, however, must now take part in trade shows in China to widen its search for new customers, according to company executive Nicole Chen, after major client Huawei Technologies became entangled in the raging trade and tech war between China and the United States.“Everything was perfect before the third… Source link

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Hotels brace for pain of worsening US-China trade war pain as consumers likely to cut non-essential spending

June 12, 2019 AsiaBbrace, consumers, cut, Hotels, nonessential, pain, spending, Trade, USChina, war, worsening

Hotel occupancy rates and revenues in Asia-Pacific fell in the first quarter as the worsening US-China trade war dented consumer confidence, according to a report by property agency Colliers International.Revenue per available room, a key measure of hotel performance, dropped 7.2 per cent year on year in the first three months while overall occupancy rates decreased to 67.4 per cent, the report found.“It is evident that the recent escalation in the trade dispute and the political impasse… Source link

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Uncertainty over US-China trade deal between Donald Trump and Xi Jinping at G20 fuels global recession fears

June 11, 2019 AsiaBdeal, Donald, fears, fuels, G20, global, Jinping, recession, Trade, Trump, uncertainty, USChina, Xi

Almost a year into the US-China trade war, Billy Wang, who runs a trading business in Shanghai, has grown increasingly resigned that the end of the dispute is nowhere in sight and will continue to chip away at his earnings.The businessman, who supplies electronics parts like flash integrated circuits to exporters, believes it will be at least another six months before any deal will be struck between the world’s two largest economies.“Some of our clients’ products are headed for the US, so for… Source link

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US-China trade war: the financial markets are focused on the wrong risk

June 9, 2019 AsiaBFinancial, focused, markets, risk, Trade, USChina, war, wrong

The US political strategist James Carville once said that after his death, he would like to be reincarnated as the bond market. “You can intimidate everybody.”Well, the US bond market is a lot bigger and scarier today than in Carville’s time. The US Treasury bond market alone is worth some US$22 trillion. Then there is another US$7 trillion outstanding in US corporate bonds. And that’s without even considering all the US mortgage-backed securities out there.And lately, as the US-China trade war… Source link

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US-China trade war: Trump and Xi are locked in world’s largest game of chicken, and neither can blink

June 9, 2019 AsiaBBlink, chicken, Game, largest, locked, Trade, Trump, USChina, war, Worlds, Xi

There HASN’T BEEN a week, if not a day, over the past year without some sort of breaking news about US-China relations.Now more than 12 months into the trade conflict, and after the 11th round of talks failed in early May, it has gone well beyond just repeated escalation of tariffs. Washington and Beijing have both toughened their rhetoric and intensified the confrontation by expanding retaliatory measures to other areas.US President Donald Trump has moved to blacklist Chinese telecom firm… Source link

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Nanosys, California maker of rare earths alternative, could be hit by tariffs on both ends amid US-China trade war

June 7, 2019 AsiaBalternative, California, earths, ends, hit, maker, Nanosys, rare, tariffs, Trade, USChina, war

Nanosys, a California developer of alternatives to rare earth elements used in televisions, tablets and flat-panel computer displays, has not been able to escape the escalating trade war between the United States and China, according to its chief executive.As trade tensions have risen between the world’s two largest economies recently, US lawmakers and others have raised concerns that China might use its dominance in rare earths – materials used in hi-tech devices ranging from mobile phones to… Source link

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US-China trade war talks collapsed due to ‘culture gap’ in understanding of law, professor says

June 7, 2019 AsiaBcollapsed, culture, due, gap, law, professor, talks, Trade, Understanding, USChina, war

Trade talks between China and the United States collapsed because there was “a critical cultural gap” on the understanding of law between the two sides, according to a professor at the University of Hong Kong.The explanation offered by Chen Zhiwu, director of the Asia Global Institute in Hong Kong who also taught at Yale University, provided a fresh perspective to understand how Chinese and American officials failed to reach a deal to end the trade war after months of negotiations.According to… Source link

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Will Steven Mnuchin’s meeting with China’s central bank chief at G20 help break US-China trade impasse?

June 6, 2019 AsiaBBank, break, Central, chief, Chinas, G20, impasse, meeting, Mnuchins, Steven, Trade, USChina

Chinese central bank governor Yi Gang’s meeting with US Treasury Secretary Steven Mnuchin this weekend at a gathering of G20 finance leaders in Japan marks the first chance to break an impasse in the trade war since negotiations broke down a month ago.The scheduled bilateral meeting between the two senior officials could offer signs for a possible meeting between Chinese president Xi Jinping and his US counterpart Donald Trump at the G20 leaders summit in Osaka on June 28-29.Analysts said hopes… Source link

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US-China trade war: IMF's Christine Lagarde warns of ‘self-inflicted wounds’ to global economy

June 6, 2019 AsiaBChristine, Economy, global, IMF039s, Lagarde, selfinflicted, Trade, USChina, war, warns, wounds

The global economy is at a “delicate juncture” which will require central banks to maintain stimulus and governments to resolve trade disputes quickly, the International Monetary Fund warned.“The immediate priority is to resolve the current trade tensions,” IMF chief Christine Lagarde urged in a blog post aimed at the Group of 20 finance ministers and central bankers as they prepare for a meeting in Japan this weekend.She said the exchange of tariffs between the United States and China will put… Source link