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This tag is associated with 914 posts

13 Sept 2019 (AFR) – US, China swap tariff concessions ahead of fresh talks

(13 September 2019, AFR, p13, Jeff Mason and Yawen Chen) ‘Washington/Beijing | US President Donald Trump on Thursday (AEST) welcomed China’s decision to exempt some US anti-cancer drugs and other goods from its tariffs and announced a short delay to scheduled tariff hikes on billions worth of Chinese goods. Stock markets in Asia rose on … Continue reading

12 Sept 2019 (AFR) – US companies trim China investment as economic, trade fears grow

(12 September 2019, AFR, p13, Michael Smith, China Correspondent) ‘Hong Kong | More than a quarter of American companies in China are re-directing investment elsewhere as concerns about a slowdown in the world’s second-largest economy and a prolonged Sino-US trade war drive confidence levels to their lowest in years. A key annual survey of more … Continue reading

11 Sept 2019 (TheAge) – China’s already in pain, and that’s before the latest Trump tariffs

(11 September 2019, The Age, Business, p23, Stephen Bartholomeusz) ‘The impact of the trade war with the US is now being reflected in a steady deterioration of China’s economic data even before the most recent tariff imposts have had a chance to bite. This week’s trade data shows that both its exports and imports are … Continue reading

9 Sept 2019 (AFR) – China kicks off policy stimulus as trade war bites

(9 September 2019, AFR, p22, William McInnes, Reporter) ‘China has stepped up efforts to buttress its economy amid its trade war against the US, freeing up liquidity in the banking system in order to boost domestic investment. The People’s Bank of China cut its reserve requirement for all banks by 0.5 percentage points on Friday, … Continue reading

9 Sept 2019 (AFR,NYTimes) – Beijing jolts economy as trade with US slumps – China Injects $126 Billion Into Its Slowing Economy

(9 September 2019, AFR, p13, By Alexandra Stevenson) ‘BEIJING — China’s central bank moved on Friday to give the country’s slowing economy a jolt, saying it would essentially inject $126 billion into the financial system as Beijing fights an escalating trade war with the United States and contends with a dangerous addiction to debt at … Continue reading

6 Sept 2019 (AFR) – US, China to resume trade talks in October

(6 September 2019, AFR, p14, Alexandra Stevenson) ‘Shanghai  | The United States and China will hold trade talks in Washington early next month, officials from both countries said on Thursday, but new tariffs will make it difficult to find a way to end their economic clash. Liu He, a top Chinese economic official and Beijing’s top … Continue reading

5 Sept 2019 (AFR) – ‘Undeniable’ cracks open in US economy as trade war slams factories

(5 September 2019, AFR, p15, Jacob Greber, United States Correspondent) ‘Washington | Damage from the worsening US-China trade war is beginning to weigh on the world’s biggest economy, with American manufacturing  joining a spreading contraction that has already hit 70 per cent of the world’s factories. Amid a dearth of signs Washington and Beijing are … Continue reading

5 Sept 2019 (AFR) – China services grows at fastest pace in three months

(5 September 2019, AFR, p14, Liu Jiefei) ‘Beijing | China’s services sector expanded at the fastest pace in three months in August as the growth of new business orders placed with services providers picked up, a survey showed on Wednesday. The Caixin China General Services Business Activity Index, which provides a snapshot of operating conditions … Continue reading

3 Sept 2019 (AFR) – In escalating trade war, US consumers may see higher prices

(3 September 2019, AFR, p13, Christopher Rugaber) ‘Washington | The United States and China on Sunday put in place their latest tariff increases on each other’s goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday shopping season. President Donald Trump said US-China trade talks were … Continue reading

3 Sept 2019 (AFR) – Wool out in the cold as China stops buying

(3 September 2019, AFR, p9, Brad Thompson, Reporter) ‘The price of wool is falling steeply as China’s textile industry feels the fallout from the trade war with the United States, and European economies weaken, with industry leaders bracing for worse to come. Australian wool prices are back to 2016 levels with growers withdrawing bales from … Continue reading

2 Sept 2019 (TheAge) – Trump’s tariffs on $166b in Chinese goods take effect

(2 September 2019, The Age, Business, p21, By Christopher Rugaber) ‘Washington: The Trump administration’s latest round of tariffs on Chinese imports took effect on Sunday, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer goods in advance of the holiday shopping season. The 15 per cent taxes apply to about … Continue reading

26 Aug 2019 (AFR) – Raging Trump orders higher tariffs on Chinese imports

(26 August 2019, AFR, p12, Jacob Greber, United States Correspondent) ‘Jackson Hole, Wyoming | Donald Trump announced another dramatic hike in tariffs on imports from China, hours after he took the extraordinary step of “ordering” US companies out of the world’s second-largest economy. The escalation came during a day of blistering presidential tweets after Beijing … Continue reading

16 Aug 2019 (AFR) – ‘Self-fulfilling’ downturn ahead, but Australia insulated: RBA

(16 August 2019, AFR, p5, Matthew Cranston, Economics correspondent) ‘Reserve Bank of Australia deputy governor Guy Debelle has warned of a “self-fulfilling downturn” globally because of the uncertainty over the US and China trade and technology war, but expects Australia will be insulated due to Chinese fiscal stimulus. After the Dow Jones Industrial Average sank … Continue reading

16 Aug 2019 (TheAge) – Markets signal Trump’s trade wars could lead to US recession

(16 August 2019, The Age, Business, p20, Stephen Bartholomeusz) ‘Perhaps the only surprise about the carnage in global financial markets overnight is that it hadn’t happened earlier. It has been evident for quite some time that the Trump trade wars were doing increasing damage to the more trade-exposed economies – China and Germany in particular … Continue reading

16 Aug 2019 (TheAge) – Top Australian CEOs fear further turmoil amid market rout

(16 August 2019, The Age, Business, p20, By David Scutt and Sarah Keoghan) ‘Top Australian chief executives say they are concerned about further turmoil for the global economy amid the ongoing threat of a trade war between the world’s two superpowers and fresh fears of a recession in the United States. The local sharemarket suffered … Continue reading

15 Aug 2019 (AFR) – China’s industrial output growth slumps to 17-year low

(15 August 2019, AFR, p13, Huizhong Wu, Stella Qiu and Kevin Yao) ‘Beijing  | China reported a raft of unexpectedly weak July data on Wednesday, including a surprise drop in industrial output growth to a more than 17-year low, underlining widening economic cracks as the trade war with the United States intensifies. Activity in China … Continue reading

13 Aug 2019 (TheAge) – Iron ore futures sink to three month low as pullback continues

(13 August 2019, The Age, Business, p27, By David Scutt) ‘Signs of a recovery in supply and concerns over weakening demand in China have dampened the outlook for iron ore, sending the price of a closely watched futures contract for the key steelmaking commodity tumbling. The January 2020 iron ore contract on the Dalian Commodities … Continue reading

12 Aug 2019 (AFR) – Beware China’s dodgy bank bailouts

(12 August 2019, AFR, p28, Robert Guy, Senior Writer) ‘Global markets have focused on the weak yuan and trade war, but a bail out of a third small lender in as many months highlights the dangers in China’s banking system. If three makes a trend then investors need to start paying closer attention to the … Continue reading

10 Aug 2019 (AFR) – Trade war may be over – Stalemate could drive search-for-yield rally

[COMMENT: This article has a very interesting take on the current trade war that seems to be just a tit-for-tat exchange; but which could be a whole lot more.] (10 August 2019, AFR, p29,  Christopher Joye, Columnist) ‘While trade tensions have recently erupted, this may presage a permanent impasse that could unleash the mother of … Continue reading

9 Aug 2019 (AFR) – China surprises with best export growth since March

(9 August 2019, AFR, p15, Huizhong Wu and Stella Qiu) ‘Beijing | China’s exports unexpectedly returned to growth in July on improved global demand despite escalating US trade pressure, but the rebound may be short-lived as Washington prepares to slap even more tariffs on Chinese goods. Analysts say a sharp drop in the yuan currency this … Continue reading

7 Aug 2019 (AFR) – Yuan fallout wipes $53b off the ASX

(7 August 2019, AFR, p26, William McInnes, Reporter) ‘The Australian sharemarket saw $53 billion wiped from its boards on Tuesday as a global market sell-off entered its second day, reversing two months worth of gains in the local market. The S&P/ASX 200 Index dropped 162.2 points, or 2.4 per cent, to 6478.1 while the broader … Continue reading

7 Aug 2019 (AFR) – China accuses US of ‘destroying international order’

[COMMENT: It’s hard to know if anything we read is biased – such as this article from China’s official communist party newspaper (which one might consider to be propaganda), or another take which says that China never plays by the rules.] (7 August 2019, AFR, p11, Winni Zhou, David Stanway, Cheng Leng and Yawen Chen) … Continue reading

7 Aug 2019 (AFR) – ‘Super massive’ record trade surplus

(7 August 2019, AFR, p1, John Kehoe, Senior Writer) ‘Australia’s monthly trade surplus has smashed its previous record to hit $8.04 billion, putting a current account surplus within reach for the first time since 1975. China’s insatiable appetite for mining commodities underpinned the trade surplus in June, with strong iron ore prices and export volumes … Continue reading

6 Aug 2019 (AFR) – China’s new weapon in the trade war is the yuan

(6 August 2019, AFR, p1, Lisa Murray, Robert Guy and William McInnes) ‘China has hit back after Donald Trump’s latest escalation of the trade war, allowing the yuan to weaken beyond 7 against the US dollar for the first time since the global financial crisis, in a move analysts say “weaponises” its currency. Investors were … Continue reading

6 Aug 2019 (TheAge) – Trump is escalating a trade war he isn’t winning

(6 Aug 2019, The Age, Business, p22, Stephen Bartholomeusz) ‘Overshadowed by Donald Trump’s escalation of his trade conflict with China last week was the release of US trade data that shows, again, that his trade wars aren’t working. For the first six months of this year the US goods trade deficit with the rest of … Continue reading

6 Aug 2019 (TheAge) – Australian economy’s biggest risk is now a reality as trade war deepens

(6 August 2019, The Age, p8, By Shane Wright and Lucy Battersby) ‘The Australian sharemarket shed more than $36 billion in value, the dollar was pushed to its lowest point in 10 years and expectations have increased of an interest rate cut over growing fears the US-China trade battle is now a full-blown currency war … Continue reading

3 Aug 2019 (AFR) – Trade war brings fear back to markets

(3 August 2019, AFR, p1, Vesna Poljak and Luke Housego) ‘Donald Trump’s escalation of the US-China trade war rocked global shares and sent market interest rates tumbling, triggering fears world markets are headed for a repeat of their 2018 nightmare when Wall Street experienced its worst December since the Great Depression. Investors were gripped by … Continue reading

3 Aug 2019 (AFR) – Pompeo jabs at China’s ‘bad behaviour’, defends new US tariffs

(3 August 2019, AFR, p12, Patpicha Tanakasempipat) ‘Bangkok | US Secretary of State Mike Pompeo on Friday decried “decades of bad behaviour” from China that had hampered free trade, laying out a case at a South-east Asian forum for Washington’s escalating trade war with Beijing. Mr Pompeo’s statements came after President Donald Trump announced he … Continue reading

30 July 2019 (AFR) – Shrinking Chinese car market sparks fears over foreign groups’ future

(30 July 2019, AFR, p23, Tom Hancock, Wang Xueqiao and Qian’er Liu) ‘Shanghai/Shenzen | China’s shrinking car market is hitting foreign manufacturing groups hard, with some companies operating at a fraction of their potential output, sparking fears a number will be forced to quit the world’s biggest market. Ford and Peugeot owner PSA have suffered … Continue reading

23 July 2019 (AFR) – China tech market shares gain up to 520pc in trading debut

(23 July 2019, AFR, p26, Hudson Lockett) ‘Shares rocketed by as much as 520 per cent on the first day of trading for Shanghai’s new science and technology-focused equities market, as investors scrambled to buy the first 25 companies to list on the so-called Star Market, leaving other Chinese equities high and dry. Star has … Continue reading