USChina – Asia Business

Donald Trump’s demand for stable yuan to end US-China trade war ‘acceptable’ to Beijing

February 20, 2019 AsiaBacceptable, Beijing, demand, Donald, stable, Trade, Trumps, USChina, war, yuan

A demand from the United States that explicitly requires China to keep the yuan exchange rate stable as a condition to end the ongoing trade war plays right into Beijing’s hands, and is an offer the government in Beijing will accept, said analysts.The US has demanded that China stop devaluing the yuan as a condition of ending the trade war, and the two countries may include currency policy in a memorandum of understanding that would form the basis of a trade deal, Bloomberg reported.For years,… Source link

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IPOs off to slow start globally in 2019 amid Brexit, US-China trade war uncertainties, says Dealogic

February 19, 2019 AsiaBBrexit, Dealogic, globally, IPOs, slow, start, Trade, uncertainties, USChina, war

Companies have only raised US$5.4 billion globally so far in 2019, down by 78 per cent from the same period a year ago, marking the lowest year-to-date value in three years, global financial data provider Dealogic said on Tuesday.The number of deals also dropped to 87 during the period, down by 52 per cent year on year, according to Dealogic. All three regions – Asia-Pacific, the Americas and EMEA (Europe, the Middle East and Africa) – have reported significantly lower initial public offering… Source link

China

China’s electronics sector has the most to lose if US-China trade war tariffs increase to 25 per cent

February 19, 2019 AsiaBcent, Chinas, electronics, increase, lose, sector, tariffs, Trade, USChina, war

March 2 is a date that is marked clearly in the calendars of every Chinese company that sells to the United States: tariff day.On that day, should negotiators not reach a deal that would end the US-China trade war, tariffs on exports to the US will rise from 10 per cent to 25 per cent, but some will be watching more closely than others.Whereas other sectors – such as textiles, apparel, cars – have had to deal with some import tariffs as a condition of selling into the US in…

China

Can China’s emerging cities help counter the economic slowdown and US-China trade war?

February 19, 2019 AsiaBChinas, cities, counter, economic, emerging, slowdown, Trade, USChina, war

For 2019, Chinese investment firm and retailer Five Star Holdings is projecting a 50 per cent increase in revenue, even though China is fighting an economic downturn and a trade war with the United States.The company’s optimism stems from the strong revenue growth it has experienced in the past few years, half of it from China’s smaller cities and the rural regions where spending growth has surpassed that of major cities.Five Star, which has annual sales of about 50 billion yuan (US$7.4 billion… Source link

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Huawei is just the start: 5G will be a central front in the US-China war for technological supremacy

February 19, 2019 AsiaB5G, Central, front, Huawei, start, supremacy, Technological, USChina, war

Washington-led opposition to the involvement of Chinese telecoms giant Huawei in the roll-out of 5G technology is just an early skirmish in what will be a long struggle for technological supremacy between China and the United States. The stakes are high, with national security concerns and the lure of big profits going hand in hand. The US National Security Strategy, published in December 2017, bracketed China with Russia, contending that both “challenge American power, influence, and interests… Source link

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US-China trade war bogeyman hangs over American toy industry expo

February 18, 2019 AsiaBAmerican, bogeyman, expo, hangs, industry, toy, Trade, USChina, war

The US-China trade war has dealt a glancing blow to American toys, hitting putty and arts and crafts items, while sparing superhero action figures, toy cars and most bestsellers.Uncertainty about the trading relationship between Beijing and Washington hung over this weekend’s Toy Fair New York, dampening the festive mood as about 30,000 industry representatives surveyed the latest and greatest in play.China manufactures about 85 per cent of the toys and games sold in the United States and is… Source link

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Donald Trump says US-China trade talks were ‘very productive’ after briefing

February 17, 2019 AsiaBbriefing, Donald, productive, talks, Trade, Trump, USChina

US President Donald Trump received an update on the US-China trade talks on Saturday at his Florida retreat after discussions in Beijing saw progress ahead of a March 1 deadline for reaching a deal. Trump, at his Mar-a-Lago club, was briefed in person by US Trade Representative Robert Lighthizer, Commerce Secretary Wilbur Ross, White House Chief of Staff Mick Mulvaney and trade expert Peter Navarro, White House spokeswoman Sarah Sanders said. Treasury Secretary Steven Mnuchin, economic adviser Larry Kudlow and other aides joined by phone. The White House offered no…

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Hong Kong office space rents to further soften as US-China trade war lingers

February 14, 2019 AsiaBHong, Kong, lingers, office, rents, soften, space, Trade, USChina, war

Prime office rents in the Central business district are forecast to decline by as much as 7 per cent this year as mainland Chinese companies pare back their expansion plans amid uncertainties ranging from the US-China trade war to cooling domestic economic growth, according to Knight Frank’s latest global outlook report released on Thursday. “There are already signs of market softening since November, the first time in 29 months. An uncertain China-US trade relationship and the mainland’s own market challenges have curtailed demands from some mainland firms for prime office…

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US-China trade war having ‘no effect’ on China steel, amid surging domestic market and tariff exemptions

February 14, 2019 AsiaBChina, domestic, effect, exemptions, market, Steel, surging, tariff, Trade, USChina, war

The trade war between the United States and China is having “no effect” on the Chinese steel sector, which is being propped up by “surging domestic demand”, according to a new study. New research by US analysts shows that Chinese steel producers are enjoying more exemptions from US President Donald Trump’s tariffs on steel than those from US allies Canada, South Korea, Spain and the United Kingdom. This is despite the fact that when the tariffs were invoked under Section 232 of the Trade Expansion Act of 1962, ostensibly on…

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China’s exports shot up dramatically in January, despite US-China trade war

February 14, 2019 AsiaBChinas, dramatically, exports, January, shot, Trade, USChina, war

China’s exports shot up unexpectedly in January, as front-loading of orders ahead of the Lunar New Year holiday helped bolster the trade sector. Data from China’s General Administration of Customs released on Thursday showed that January’s exports rose 9.1 per cent from a year earlier, beating a median forecast of economists by Bloomberg, which had predicted a 3.3 per cent decline. It is a significant improvement on December, when exports fell by 4.4 per cent, and will offer some comfort to policymakers in Beijing, as the US-China trade war continues…