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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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China 

FCC set to block China Mobile bid to provide US services, marking another hot spot in trade war

Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile’s bid to provide US telecommunications services, citing security risks, and said the commission will vote on whether to deny the company’s application in May.China Mobile is seeking approval to provide services for phone calls between the United States and other countries. It is not seeking approval to provide wireless services to US consumers.According to the FCC, China Mobile USA, which filed the… Source link

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China 

Chinese and US companies fear Donald Trump’s trade war on the car industry

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.Jack Sun’s company does not sell directly to the United States but if US President Donald Trump decides to slap tariffs on the global car industry, suppliers such as Sun’s machinery firm would be right in the line of fire.Qingdao Ray Machinery and Technology, a 30-person operation based in northeast China, exports moulds and… Source link

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China 

China economy off to strong start in 2019 as stimulus steps offset trade war impact

China’s economy is off to a robust start this year, defying fears of a sharp slowdown, with Beijing’s pro-growth efforts successfully offsetting the effects of the trade war with the United States.China’s gross domestic product (GDP) expanded 6.4 per cent in the first quarter compared a year earlier, the National Bureau of Statistics reported on Wednesday, beating analysts’ expectations of 6.3 per cent growth and remaining at the top end of Beijing’s target growth range of 6.0 to 6.5 per cent… Source link

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China 

An India-China trade war? Modi fans the flames of boycott calls

Indian traders calling for a boycott of China-made products have been encouraged by an interview in which Prime Minister Narendra Modi says the matter is for the public to decide.“As far as public sentiment on Chinese goods is concerned, we should leave it to their sooj-bhooj [wisdom]. We, including the media, should guide the public,” Modi told Network18 last week, in comments that have played into the hands of the influential Confederation of All India Traders (CAIT), which has 70 million… Source link

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China 

China economy at more risk from EU recession than US trade war, economist El-Erian says

The “sizeable” chance of a recession in the European Union poses a greater to the Chinese economy than the ongoing US-China trade war, according to noted economist Mohamed El-Erian.The EU is China’s largest trading partner and, according to El-Erian, chief economic adviser to the Allianz Group, the world’s third-largest financial services company by revenue, has “between 50 and 60 per cent” chance of entering recession later this year or early next.This would mean weaker demand for Chinese… Source link

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China 

Trade war or not, Marvel Studios’ Avengers: Endgame breaks pre-release sales record with millions of China’s movie goers

Walt Disney Studios Motion Pictures’ Avengers: Endgame has broken the record for pre-release ticket sales in China, more than a week before Marvel Studios’ fourth instalment of the Avengers superhero series goes on show in the world’s second-biggest box office market.The blockbuster sold a record 247 million yuan (US$36.8 million) in tickets on Maoyan as of Monday afternoon, a third of which are for the midnight show on April 24 in 3D IMAX format, according to data by China’s largest online… Source link

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Global 

In Europe, China’s economic cold war with the West is over before it’s begun

THERE HAS BEEN an enormous amount of nonsense reported in the last couple of months about the state of economic relations between the European Union and China.First we heard that the EU was adopting an altogether more assertive, even confrontational, stance towards Beijing.Brussels had declared China to be a “systemic rival”, European politicians were slamming the Chinese government’s protectionist industrial policies, and the EU was vowing to stop the Chinese from obtaining cutting edge… Source link

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