As Trump demands major concessions, Beijing wants the world to think that the US will blink first

Trump on Monday threatened more tariffs on Chinese goods if Xi does not attend. Representatives from the Chinese side said Thursday they think it’s likely that Xi will go to the G-20 meeting. But in order to reach a trade deal, they emphasize, the U.S. must agree to certain conditions. Efforts to ensure that Beijing and the Trump administration will adhere to the terms of any trade deal have been a source of uncertainty on both sides. It’s hard to imagine a complete break of the United States fr


Trump on Monday threatened more tariffs on Chinese goods if Xi does not attend. Representatives from the Chinese side said Thursday they think it’s likely that Xi will go to the G-20 meeting. But in order to reach a trade deal, they emphasize, the U.S. must agree to certain conditions. Efforts to ensure that Beijing and the Trump administration will adhere to the terms of any trade deal have been a source of uncertainty on both sides. It’s hard to imagine a complete break of the United States fr
As Trump demands major concessions, Beijing wants the world to think that the US will blink first Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: evelyn cheng
Keywords: news, cnbc, companies, concessions, blink, beijing, trade, liang, xi, deal, chinas, world, major, g20, china, think, wants, chinese, trump, demands


As Trump demands major concessions, Beijing wants the world to think that the US will blink first

U.S. and Chinese flags seen at the US Department of State May 23, 2018 in Washington, DC. Brendan Smialowsk | AFP | Getty Images

BEIJING – The Chinese government is trying to convince the world that the onus is on the U.S. to resolve trade tensions between the two countries. As negotiations remain at a standstill, Beijing has yet to confirm whether Chinese President Xi Jinping will meet U.S. President Donald Trump at the G-20 meeting in Japan at the end of this month. Trump on Monday threatened more tariffs on Chinese goods if Xi does not attend. Representatives from the Chinese side said Thursday they think it’s likely that Xi will go to the G-20 meeting. But in order to reach a trade deal, they emphasize, the U.S. must agree to certain conditions. These include the cancellation of all additional tariffs; following the direction of what was agreed at the G-20 meeting in Argentina last year; and abiding by terms which China considers equal. “China’s position has been very clear and explicit. It is the U.S. who initiated the trade friction,” said Liang Ming, director of the Institute of International Trade, a research unit under the Ministry of Commerce. He was speaking in Mandarin via an official translator at a press briefing on Thursday. “Now I think China has greater confidence than the U.S. At the G-20 we could have talks, but the precondition is that the U.S. shows good faith,” Liang said. “If it continues to go backtracking on its own commitments, then we’d rather not have the talks.”

China’s in no hurry

Negotiations between the U.S. and China took a turn for the worse last month. Trump increased tariffs on $200 billion worth of goods from China, and his administration put Chinese telecom giant Huawei on an “entity list” that effectively cuts the company off from its U.S. suppliers.

The view of Chinese academics, Liang said, is that China’s economy can withstand the pressure of prolonged trade tensions, which they see are at the behest of Trump’s presidential campaign efforts. “We know that starting from the (June) 18th, President Trump will start the new round of general election campaign, and so we think he is also eager to reach a deal, ” Liang said. “But if we look at the whole situation, China is in no hurry because time is on our side.”

US must show ‘sincerity’

Since then, the Ministry of Commerce’s official line has been this: For talks to continue, the U.S. must “adjust its wrong actions” with sincerity. Liang laid out three points in which the U.S. could show such “sincerity.” First, echoing China’s Vice Premier Liu He, who is also the country’s chief trade negotiator, Liang said the U.S. must agree to cancel all additional tariffs.

Second, Liang said Beijing would like the U.S. to “significantly ease export controls on high tech export products” in order to reach demands that China increase its imports of American goods by at least $1.2 trillion.

“The third point is about a balanced text that is about expressions and wordings,” Liang said. “We don’t think there should be a lot of strong, forceful words such as ‘must’, ‘should,’ etc.” Efforts to ensure that Beijing and the Trump administration will adhere to the terms of any trade deal have been a source of uncertainty on both sides. Each country claims the other backtracked on what appeared close to a deal just weeks before talks fell apart.

It’s hard to imagine a complete break of the United States from China or of China from the United States. Xi Jinping Chinese president

In early June, China’s powerful State Council published a white paper laying the blame on the U.S. for the trade tensions. Zhu Guangyao, former vice minister of finance and an advisor to the Chinese government on trade, affirmed Thursday that China is waiting for the U.S. to agree to Beijing’s terms. He said he expects Xi will attend the G-20 meeting given a previous agreement with Japan. But he emphasized the need for multiple levels of communication and full information for progress toward any kind of deal. “Since the negotiations are so (serious), both sides are beginning to put their red lines on the table — what we can negotiate, what not,” Zhu told CNBC’s Eunice Yoon in English. “So people’s interests, national sovereignty, national dignity, certainly is the red line. No one can go beyond that.”

Beijing’s ‘core interests’

In a commentary piece published in late May, state news agency Xinhua said that U.S. demands, including restricting the development of China’s state-owned enterprises, is an attempt to damage Beijing’s “core interests.” Foreign businesses have complained of an unequal playing field with Chinese companies due to government support. In addition, there’s poor protection of intellectual property rights and forced technology transfer to China in order to operate there, they say. Beijing has made some moves to address those issues in the last several months. But for an international community watching the country since it joined the World Trade Organization in 2001, China is still moving too slowly.


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: evelyn cheng
Keywords: news, cnbc, companies, concessions, blink, beijing, trade, liang, xi, deal, chinas, world, major, g20, china, think, wants, chinese, trump, demands


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The price of apples is soaring in China, and Beijing is showing concern

The price of apples in China has surged nearly 30%, and consumers are cutting their purchases of the fruit, according to data from grocery delivery platform Dada-JD Daojia. Government figures released Wednesday showed China’s consumer price index rose in May to 2.7%, its highest in more than a year, boosted by an 18.2% climb in pork prices and a 26.7% increase in fruit prices. African swine fever has hit millions of pigs, while bad weather has hit the fruit crop. The cost of half a kilogram of a


The price of apples in China has surged nearly 30%, and consumers are cutting their purchases of the fruit, according to data from grocery delivery platform Dada-JD Daojia. Government figures released Wednesday showed China’s consumer price index rose in May to 2.7%, its highest in more than a year, boosted by an 18.2% climb in pork prices and a 26.7% increase in fruit prices. African swine fever has hit millions of pigs, while bad weather has hit the fruit crop. The cost of half a kilogram of a
The price of apples is soaring in China, and Beijing is showing concern Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: evelyn cheng
Keywords: news, cnbc, companies, fruit, concern, increase, yuan, soaring, beijing, prices, nearly, dadajd, hit, pound, showing, apples, china, price, consumer


The price of apples is soaring in China, and Beijing is showing concern

The price of apples in China has surged nearly 30%, and consumers are cutting their purchases of the fruit, according to data from grocery delivery platform Dada-JD Daojia.

That’s just one example in several jumps in food prices in the country. The rapid increase is worth watching for any impact on consumer sentiment and spending, especially since Beijing is putting great emphasis on consumption as a way to keep the economy steadily growing.

Government figures released Wednesday showed China’s consumer price index rose in May to 2.7%, its highest in more than a year, boosted by an 18.2% climb in pork prices and a 26.7% increase in fruit prices.

African swine fever has hit millions of pigs, while bad weather has hit the fruit crop.

The cost of half a kilogram of apples jumped to 15.19 yuan at the beginning of June from 11.81 yuan at the end of April, Dada-JD Daojia said. That’s an increase from about $1.55 a pound to nearly $2 per pound.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: evelyn cheng
Keywords: news, cnbc, companies, fruit, concern, increase, yuan, soaring, beijing, prices, nearly, dadajd, hit, pound, showing, apples, china, price, consumer


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

As US-China relations sour, Taiwan’s value as a ‘chess piece’ may rise

Taiwan has always been a “chess piece” that Washington can play with in U.S.-China relations, said Zhiqun Zhu, a professor of political science and international relations at Bucknell University. “Taiwan’s value to the U.S. will only increase as tensions between the U.S. and China escalate,” Zhu told CNBC. Chinese President Xi Jinping has said before that China “must be and will be” reunified with Taiwan — by force if necessary. However, recent military and diplomatic actions from Washington hav


Taiwan has always been a “chess piece” that Washington can play with in U.S.-China relations, said Zhiqun Zhu, a professor of political science and international relations at Bucknell University. “Taiwan’s value to the U.S. will only increase as tensions between the U.S. and China escalate,” Zhu told CNBC. Chinese President Xi Jinping has said before that China “must be and will be” reunified with Taiwan — by force if necessary. However, recent military and diplomatic actions from Washington hav
As US-China relations sour, Taiwan’s value as a ‘chess piece’ may rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: shirley tay
Keywords: news, cnbc, companies, taiwans, sour, chess, ustaiwan, tsai, chinese, rise, china, grossman, uschina, trump, relations, beijing, taiwan, value, piece, president


As US-China relations sour, Taiwan's value as a 'chess piece' may rise

Taiwan’s President Tsai Ing-Wen waves to assembled guests from the deck of the ‘Ming Chuan’ frigate during a ceremony to commission two Perry-class guided missile frigates from the U.S. into the Taiwan Navy, in the southern port of Kaohsiung on November 8, 2018. Chris Stowers | AFP | Getty Images

As the United States and China remain deadlocked in a deepening dispute over trade and technology, some experts say Taiwan’s value as a bargaining chip has increased. The self-governed island — which Beijing deems to be a renegade Chinese province — is one of many flashpoints in the rivalry between the world’s two superpowers. Taiwan has always been a “chess piece” that Washington can play with in U.S.-China relations, said Zhiqun Zhu, a professor of political science and international relations at Bucknell University. “Taiwan’s value to the U.S. will only increase as tensions between the U.S. and China escalate,” Zhu told CNBC. Under the Chinese Communist Party’s “One China” policy, the self-ruled island is part of mainland China. Chinese President Xi Jinping has said before that China “must be and will be” reunified with Taiwan — by force if necessary. However, recent military and diplomatic actions from Washington have been seen by Beijing as U.S. support for Taiwan’s independence movement. At the Shangri-la dialogue in Singapore last weekend, Chinese Lieutenant General Shao Yuanming said Washington’s support for Taipei has sent “terribly wrong signals to Taiwan’s independence forces, which could undermine regional peace and stability. ” “If anyone wants to separate Taiwan from the country, the Chinese military will resolutely defend the unity of our motherland at all costs,” Shao added.

‘Upgrade’ in US-Taiwan relations

The U.S. using Taiwan as a card is a new factor in the dynamic of the trilateral relationship that “really did not exist” before President Donald Trump came into power, said Bonnie Glaser, senior advisor for Asia at Washington-based think tank Center for Strategic and International Studies (CSIS). “Trump is a transactional president and he often seems to be willing to put anything on the table,” she told CNBC. On the military front, the Trump administration has ramped up arms sales to Taipei over the years, invoking the ire of Beijing. Washington is reportedly preparing a sale of more than $2 billion worth of tanks and weapons to Taiwan. Diplomatic issues have also come to the fore. In May, high-level security officials from the U.S. and Taiwan met for the first time in nearly four decades, drawing an angry response from Beijing. Chinese Foreign Minister Lu Kang said Beijing is “strongly dissatisfied” with and “resolutely opposed” to any official meetings between the U.S. and Taiwan. “I believe we’re inching closer & closer to Beijing’s redline on US-Taiwan senior official mtgs–those that are publicized at least,” Derek Grossman, a senior defense analyst at California-based think tank RAND Corporation, said on Twitter after the U.S.-Taiwan meeting.

Chinese President Xi Jinping arrives for an event to commemorate the 40th anniversary of the Message to Compatriots in Taiwan at the Great Hall of the People January 2, 2019 in Beijing, China. Mark Schiefelbein | Pool | Getty Images

Grossman told CNBC on email that his understanding is that such meetings “have been ongoing for some time in private.” “My hunch is that it was publicized this time via intentional leak from one or both sides to signal to China that the upgrade in U.S.-Taiwan relations is here to stay,” he added.

Taiwan’s next leader is key

Taiwan is set to have its presidential elections in January 2020 — and experts said the polls would likely determine the direction of cross-strait ties. Grossman said that if the incumbent Taiwanese president Tsai Ing-Wen is re-elected, which is “likely,” cross-strait tensions are likely to escalate further from 2020 to 2024. Glaser from CSIS echoed that sentiment, adding that if a candidate from the independence-leaning Democratic Progressive Party was elected, China would ratchet up military, diplomatic and economic pressure. “I think the Chinese would be worried that there’s always this potential for things to go in a very negative direction because the combination of Trump being president and the possibility that Tsai gets re-elected … could really embolden Tsai to move toward the direction of independence,” she added.

China could miscalculate and think the United States would get involved in a conflict, and that would really be a very dangerous situation. Bonnie Glaser senior advisor for Asia at the Center for Strategic and International Studies

According to Grossman, the best hope for keeping tensions under wraps would be if a candidate from the opposition Kuomintang (KMT) party wins the next Taiwan presidential race and recognizes the “One China” policy. That said, Grossman added, public opinion polling in Taiwan has shown that voters will not likely support the opposition KMT in doing so. “The Taiwanese have been observing how China’s ‘One Country, Two Systems’ approach has worked out in Hong Kong, and it isn’t too inspiring,” Grossman added. A public opinion survey conducted by the Taiwan’s Mainland Affairs Council in May also found that 83.6% of Taiwan opposes Xi’s “one country, two systems” policy.

A ‘small’ risk of escalation


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: shirley tay
Keywords: news, cnbc, companies, taiwans, sour, chess, ustaiwan, tsai, chinese, rise, china, grossman, uschina, trump, relations, beijing, taiwan, value, piece, president


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China wants to pressure the US economy, but the finance sector is probably safe from Beijing

Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts said America’s financial sector is unlikely to be a target. Speaking at the Institute of International Finance meeting in Tokyo, he said that any move to target financial services would be “unusual,” because the Chinese “need access to global financial markets.” Peterson said that the Chinese yuan, or the renminbi (RMB), wo


Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts said America’s financial sector is unlikely to be a target. Speaking at the Institute of International Finance meeting in Tokyo, he said that any move to target financial services would be “unusual,” because the Chinese “need access to global financial markets.” Peterson said that the Chinese yuan, or the renminbi (RMB), wo
China wants to pressure the US economy, but the finance sector is probably safe from Beijing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: weizhen tan
Keywords: news, cnbc, companies, financial, chinas, sector, trade, china, economy, global, safe, finance, wants, beijing, probably, chinese, markets, market, pressure, told


China wants to pressure the US economy, but the finance sector is probably safe from Beijing

Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts said America’s financial sector is unlikely to be a target.

There’s just too much at stake for China in that area, they told CNBC this week, pointing to an ongoing drive in the country to open up the Chinese financial sector to global investors.

“We believe that the financial regulators (in China) … are looking at ways to really reform, make it more liquid, bring more transparency. We haven’t seen any shift in that attitude yet,” Douglas Peterson, president and chief executive at financial services and ratings giant S&P Global, told CNBC on Friday.

Speaking at the Institute of International Finance meeting in Tokyo, he said that any move to target financial services would be “unusual,” because the Chinese “need access to global financial markets.”

On Thursday, Tim Adams, who is president and chief executive of the IIF, a trade association, also expressed that sentiment.

“The Chinese government wants U.S. and European financial institutions — they are opening up the market. What I heard from Chinese authorities is … ‘we want the financial community to be here,'” he told CNBC.

Peterson said that the Chinese yuan, or the renminbi (RMB), would likely be a casualty of any move to clamp down on the financial sector.

“Clearly, one of their long term goals is to make their currency a larger, more dominant position in trade. They would like to have things like oil or certain types of commodities or goods priced in RMB,” he said. “In order to do that, they have to have a more active financial market, (to be) more engaged in the global financial market.”

Increasing overseas participation in yuan-denominated assets would help Beijing toward its goal of boosting international acceptance and use of the Chinese currency.

Increasingly, China’s markets have been opened up to global investors. Last year, Chinese A-shares — yuan-denominated stocks traded on the mainland — were included in the MSCI Emerging Markets Index.

This year, Chinese bonds were included in the widely followed Bloomberg Barclays index.

Those inclusions also bring billions of dollars into China’s markets. Analysts estimate that the full inclusion in the Bloomberg Barclays index will attract around $150 billion of foreign inflows into China’s roughly $13 trillion bond market, while the MSCI inclusion will also attract billions worth of inflows.

“There’s also very high demand from foreign investors for Chinese assets,” Peterson said. “So shutting down access to financial markets — I really don’t think it’s one of the measures they’re probably looking at very seriously.”

So far, other sectors have been implicated in trade skirmishes between the world’s two largest economies.

The U.S. put Chinese tech giant Huawei on a list that essentially prevents it from conducting business with American companies, while Chinese media warned that Beijing could cut off industrially significant rare earth minerals as a retaliatory measure in the escalating economic battle.

On Tuesday, China issued a warning to its citizens about working, studying and traveling in America, noting that the U.S. has recently placed certain restrictions on some Chinese student visas.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: weizhen tan
Keywords: news, cnbc, companies, financial, chinas, sector, trade, china, economy, global, safe, finance, wants, beijing, probably, chinese, markets, market, pressure, told


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

BlackRock says a US-China trade deal is likely this year — but markets won’t be cheering

There’s still a chance that the U.S. and China could reach a trade deal by the end of this year, but that won’t be enough to cause investors to cheer, according to an investment expert from BlackRock. Isabelle Mateos y Lago, deputy head of BlackRock’s Official Institutions Group, said Friday that any trade deal between Washington and Beijing will likely be “narrow.” That means the deal won’t likely resolve all the tensions between the two countries, she explained. We don’t think so,” Mateos y La


There’s still a chance that the U.S. and China could reach a trade deal by the end of this year, but that won’t be enough to cause investors to cheer, according to an investment expert from BlackRock. Isabelle Mateos y Lago, deputy head of BlackRock’s Official Institutions Group, said Friday that any trade deal between Washington and Beijing will likely be “narrow.” That means the deal won’t likely resolve all the tensions between the two countries, she explained. We don’t think so,” Mateos y La
BlackRock says a US-China trade deal is likely this year — but markets won’t be cheering Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: yen nee lee
Keywords: news, cnbc, companies, likely, tensions, blackrock, trade, cheering, china, president, mateos, think, markets, mexico, beijing, deal, uschina, wont


BlackRock says a US-China trade deal is likely this year — but markets won't be cheering

Chinese President Xi Jinping (L) holds a grand ceremony to welcome U.S. President Donald Trump outside the Great Hall of the People in Beijing, China on Nov. 9, 2017.

There’s still a chance that the U.S. and China could reach a trade deal by the end of this year, but that won’t be enough to cause investors to cheer, according to an investment expert from BlackRock.

Isabelle Mateos y Lago, deputy head of BlackRock’s Official Institutions Group, said Friday that any trade deal between Washington and Beijing will likely be “narrow.” That means the deal won’t likely resolve all the tensions between the two countries, she explained.

The Official Institutions Group under investment firm BlackRock manages $411 billion of assets for entities including central banks and sovereign wealth funds, according to the money manager’s website.

“We do think a trade deal will happen, but let’s be very clear: Will it solve all the underlying tensions between the U.S. and China, in particularly the more strategic issues present in the tech sector? We don’t think so,” Mateos y Lago told CNBC’s Nancy Hungerford at the Institute of International Finance’s spring meeting in Japan.

“But a narrow trade deal, we do think ultimately it will happen, and probably before the end of the year,” she added.

In addition to the rivalry between Washington and Beijing, investors are worried about U.S. President Donald Trump’s recent threats to impose a new tariff on Mexico to address his immigration concerns, according to Mateos y Lago.

Even if the U.S. and China manage to resolve their conflict, investor sentiment will still be weighed down, she added.

“There are a number of worries at the same time right now. There’s the U.S.-China tensions, there’s the new tariff threats against Mexico which has roiled markets and sentiment because they seem to signal a new use of tariffs for non-trade related issues, ” she said.

“So, I think if we get resolution on the China front, that’s good. But we’ll need resolution on the Mexico front as well.”


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: yen nee lee
Keywords: news, cnbc, companies, likely, tensions, blackrock, trade, cheering, china, president, mateos, think, markets, mexico, beijing, deal, uschina, wont


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Russian sovereign wealth fund says US allegations against Huawei are unproven and unfair

The head of Russia’s sovereign investment fund has urged the U.S. to back-up claims that China’s Huawei represents a national security threat. The U.S. has led allegations that Huawei’s equipment can be used by Beijing for espionage operations, with Washington calling on Western allies to bar the company from next-generation 5G networks. Huawei has repeatedly denied the allegations against it. Huawei has become a point of contention in a broader trade dispute between Washington and Beijing, with


The head of Russia’s sovereign investment fund has urged the U.S. to back-up claims that China’s Huawei represents a national security threat. The U.S. has led allegations that Huawei’s equipment can be used by Beijing for espionage operations, with Washington calling on Western allies to bar the company from next-generation 5G networks. Huawei has repeatedly denied the allegations against it. Huawei has become a point of contention in a broader trade dispute between Washington and Beijing, with
Russian sovereign wealth fund says US allegations against Huawei are unproven and unfair Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: sam meredith
Keywords: news, cnbc, companies, equipment, wealth, used, unfair, washington, western, worlds, sovereign, fund, unproven, russias, huawei, beijing, 5g, allegations, russian


Russian sovereign wealth fund says US allegations against Huawei are unproven and unfair

The head of Russia’s sovereign investment fund has urged the U.S. to back-up claims that China’s Huawei represents a national security threat.

The U.S. has led allegations that Huawei’s equipment can be used by Beijing for espionage operations, with Washington calling on Western allies to bar the company from next-generation 5G networks.

Huawei has repeatedly denied the allegations against it.

Huawei has become a point of contention in a broader trade dispute between Washington and Beijing, with other countries under pressure to decide whether to allow the world’s largest maker of telecom equipment to help build their 5G networks.

On Wednesday, Huawei announced it had signed a deal with Russia’s top mobile operator MTS to develop 5G technology in Russia.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: sam meredith
Keywords: news, cnbc, companies, equipment, wealth, used, unfair, washington, western, worlds, sovereign, fund, unproven, russias, huawei, beijing, 5g, allegations, russian


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Four charts show how much China’s economy has changed in 30 years

The Chinese government doesn’t often talk about the Tiananmen crackdown that shook Beijing 30 years ago this week. When reporters ask about it, Beijing officials often divert the conversation to the economic boom China has experienced since 1989. People’s Liberation Army Senior Colonel Zhou Bo this week said there was “nothing wrong” with China’s crackdown on protests 30 years ago — and he cited the country’s economic prosperity since then as evidence of Beijing’s proper course. “China, the Chin


The Chinese government doesn’t often talk about the Tiananmen crackdown that shook Beijing 30 years ago this week. When reporters ask about it, Beijing officials often divert the conversation to the economic boom China has experienced since 1989. People’s Liberation Army Senior Colonel Zhou Bo this week said there was “nothing wrong” with China’s crackdown on protests 30 years ago — and he cited the country’s economic prosperity since then as evidence of Beijing’s proper course. “China, the Chin
Four charts show how much China’s economy has changed in 30 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: ted kemp, kelly olsen
Keywords: news, cnbc, companies, economy, tiananmen, prosperity, changed, china, beijing, chinese, week, 1989, wrong, chinas, zhou, economic, charts, 30


Four charts show how much China's economy has changed in 30 years

The Chinese government doesn’t often talk about the Tiananmen crackdown that shook Beijing 30 years ago this week. When reporters ask about it, Beijing officials often divert the conversation to the economic boom China has experienced since 1989.

Several hundred or perhaps thousands of Chinese pro-democracy protesters were killed at Tiananmen Square in 1989, according to various independent estimates.They were attacked by Chinese troops — some of them deployed in columns of tanks.

People’s Liberation Army Senior Colonel Zhou Bo this week said there was “nothing wrong” with China’s crackdown on protests 30 years ago — and he cited the country’s economic prosperity since then as evidence of Beijing’s proper course.

“Look at China after this incident. China has prospered,” he told CNBC’s Sri Jegarajah in a wide-ranging interview. “China, the Chinese people’s living standards are much higher. And we did do the right thing. There’s nothing wrong with it.”

Zhou provided no evidence of a link between economic prosperity and the events of June 4, 1989. But setting aside the human cost of 1989, anyone who wants to understand the new, global assertiveness from Beijing would be well served to look at the economic changes Zhou mentioned.

Below are four charts that illustrate them.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: ted kemp, kelly olsen
Keywords: news, cnbc, companies, economy, tiananmen, prosperity, changed, china, beijing, chinese, week, 1989, wrong, chinas, zhou, economic, charts, 30


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Why China’s rare earths threat is no game changer in the trade war

China’s restrictions on exports of rare earths are aimed at maximising profit, strengthening its homegrown high-tech companies and forcing other nations to help sustain global supply, experts say. It remains to be seen how China would structure a ban on rare earths, but some corners of Wall Street say the move wouldn’t be a game changer for Beijing’s trade negotiators. That means the U.S. spent only a “modest” $160 million in 2018 to import rare earths for manufacturing. Wells Fargo Investment I


China’s restrictions on exports of rare earths are aimed at maximising profit, strengthening its homegrown high-tech companies and forcing other nations to help sustain global supply, experts say. It remains to be seen how China would structure a ban on rare earths, but some corners of Wall Street say the move wouldn’t be a game changer for Beijing’s trade negotiators. That means the U.S. spent only a “modest” $160 million in 2018 to import rare earths for manufacturing. Wells Fargo Investment I
Why China’s rare earths threat is no game changer in the trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: tom dichristopher
Keywords: news, cnbc, companies, hightech, earths, beijing, goods, china, minerals, war, rare, manufacturing, game, week, trade, produced, threat, changer, chinas


Why China's rare earths threat is no game changer in the trade war

A man driving a front loader shifts soil containing rare earth minerals to be loaded at a port in Lianyungang, east China’s Jiangsu province, for export to Japan. China’s restrictions on exports of rare earths are aimed at maximising profit, strengthening its homegrown high-tech companies and forcing other nations to help sustain global supply, experts say. China last year produced 97 percent of the global supply of rare earths — a group of 17 elements used in high-tech products ranging from flat-screen televisions to iPods to hybrid cars — but is home to just a third of reserves. CHINA OUT AFP PHOTO (Photo credit should read STR/AFP/Getty Images) STR | AFP | Getty Images

China’s threat to stop exporting rare earth minerals to the United States may not give Beijing much leverage in the ongoing trade war between the world’s two biggest economies. While China is the world’s leading producer of rare earths — minerals found in a wide range of everyday consumer electronics — Beijing’s ability to use them as a weapon is fairly limited, according to several analysts. It remains to be seen how China would structure a ban on rare earths, but some corners of Wall Street say the move wouldn’t be a game changer for Beijing’s trade negotiators. “As a general premise, we are of the view that the impact on the U.S. would be mild, which is one reason why we are skeptical that Beijing would ‘pull the trigger’ on this particular threat,” Raymond James analysts Ed Mills and Pavel Molchanov said in a research note on Monday. The official newspaper of the Communist Party of China warned last week that Beijing could soon stop exporting rare earths to the U.S. The threat came ahead of an increase in U.S. tariffs on $200 billion in Chinese goods that went into effect this past weekend.

Rare earths are a group of 17 minerals that aren’t actually rare, but are produced in fairly scarce quantities compared with abundantly mined metals like copper. They have become more important in recent years because they’re increasingly used in high-tech equipment, defense manufacturing and electric vehicles. China mined 70% of these minerals in 2018, leading some analysts last week to raise questions about the impact to U.S. industries that are reliant on rare earths. But the U.S. accounted for only 9% of global demand for rare earths that go into the manufacturing process, according to Raymond James. That means the U.S. spent only a “modest” $160 million in 2018 to import rare earths for manufacturing. “The reason is fairly straightforward: the U.S. has only limited manufacturing capacity vis-a-vis the high-tech products that are most commonly associated with rare earths. Consumer electronics (PCs, smartphones, flat panel TVs) and various industrial goods (electric vehicle batteries, wind turbines, lasers, fiber optics) are simply not produced in the U.S. on the scale that they are in China itself and/or its Asian neighbors,” Mills and Molchanov wrote. Wells Fargo Investment Institute said the ban would put U.S. manufacturers that use rare earths in a bind, increasing production costs and even causing product delays. But the firm also said the ban wouldn’t necessarily give Beijing a trump card. That’s because it’s unlikely China would be able to do much more than restrict supplies of rare earths to U.S. manufacturers. “We have a hard time seeing how China could slap rare earth restrictions on consumer goods — goods that are produced inside China and are increasingly consumed globally — and not shoot itself in the economic foot in the process,” John LaForge, head of real asset strategy at Wells Fargo Investment Institute, said in a research note last week.


Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: tom dichristopher
Keywords: news, cnbc, companies, hightech, earths, beijing, goods, china, minerals, war, rare, manufacturing, game, week, trade, produced, threat, changer, chinas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Beijing experts’ latest message as trade talks stall: The US needs China

Now, there have been no announcements about the next round of talks, and markets await some signal about the future of the trade war that’s roiled stocks over the last year. This big economic system will give America more material benefits, including employment, including products, including product exports, including revenues,” Wei said, according to Mandarin-language remarks translated by CNBC. “Originally, we believed that in the U.S.-China economic trade relationship … we could mutually co


Now, there have been no announcements about the next round of talks, and markets await some signal about the future of the trade war that’s roiled stocks over the last year. This big economic system will give America more material benefits, including employment, including products, including product exports, including revenues,” Wei said, according to Mandarin-language remarks translated by CNBC. “Originally, we believed that in the U.S.-China economic trade relationship … we could mutually co
Beijing experts’ latest message as trade talks stall: The US needs China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: evelyn cheng
Keywords: news, cnbc, companies, economic, war, experts, including, long, needs, trade, talks, latest, message, china, products, wei, beijing, chinese, stall


Beijing experts' latest message as trade talks stall: The US needs China

A Chinese flag is seen in front of containers at the Yangshan Deep-Water Port, an automated cargo wharf, in Shanghai on April 9, 2018. Johannes Eisele | AFP | Getty Images

China’s domestic media is rallying the country’s population with messages of standing firm against American “bullying,” while Chinese government-aligned experts are stressing to an overseas audience that the U.S. will need to negotiate. The world’s two largest economies have been locked in a trade fight for more than a year. Both sides appeared to be making progress until early this month, when President Donald Trump accused China of reneging on a deal and raised tariffs on an additional $200 billion in Chinese products to 25%. Beijing retaliated with raising levies on $60 billion worth of U.S. products. Now, there have been no announcements about the next round of talks, and markets await some signal about the future of the trade war that’s roiled stocks over the last year. Throughout this current lull, China’s state-run newspapers and television channels have taken an increasingly anti-American tone. Still, the country’s expert class is emphasizing what the U.S. has to gain from cooperating with Beijing. “In the next 20 to 30 years, the U.S. shouldn’t miss out on this opportunity and lose the China market,” Wei Jianguo, a former vice minister at China’s Ministry of Commerce, told CNBC in an interview Wednesday. He is now vice chairman and deputy executive officer at Beijing-based think tank China Center for International Economic Exchanges.

Personally, I think, as long as there is negotiation, then there will be results. Wei Jianguo a former vice minister at China’s Ministry of Commerce

“I believe Americans should grasp this opportunity. This big economic system will give America more material benefits, including employment, including products, including product exports, including revenues,” Wei said, according to Mandarin-language remarks translated by CNBC. “Personally, I think, as long as there is negotiation, then there will be results,” he said. On the same day, two speakers addressing foreign reporters at a small press event organized by the government’s main information office echoed some of Wei’s sentiments. “My personal view is that, from the perspective of U.S. businesses, if the trade war continues, it will … have a negative impact on what was a good relationship between U.S. and Chinese businesses,” said Li Yong, deputy director of the expert committee at the China Association of International Trade, which falls under the Commerce Ministry’s direct leadership. “At the end of the day, the image and influence U.S. businesses have developed over the long term will (be affected). It’s a pity.” The other speaker, Zhang Yansheng, head researcher at the China Center for International Economic Exchanges, also emphasized that Beijing would like to keep negotiating with the U.S. It could even be a years-long process that cycles through negotiation and fights, he said. The tone stands in contrast to state-run media, whose Chinese-language reports in the last two weeks have promoted the country’s ability to defy pressure from the U.S. For the last several days, the national broadcaster CCTV has also been airing anti-U.S. movies set during the Korean War. On Wednesday, the prime-time evening report featured Chinese President Xi Jinping’s visit earlier in the week to the province of Jiangxi. The Chinese leader’s remarks during the visit about rare earth elements as an “important strategic resource” and a “new Long March ” signaled to many that Beijing is resolved not to bend to American demands.

Who needs a deal?

At Wednesday’s news conference, Li said China is in a position where it can’t appease American demands. “Originally, we believed that in the U.S.-China economic trade relationship … we could mutually cooperate and rely on each other,” he said in Mandarin. “But now we need to revisit this.” Analysts generally agree that, right now, Beijing still depends heavily on the U.S. as an export market. Last year, China was the largest supplier of goods to the U.S. at $539.5 billion, according to the Office of the U.S. Trade Representative. China is trying to transform its economy into one driven by consumption rather than manufacturing. The country hosted its first import expo last fall in an effort to bill itself and its hundreds of millions of consumers as a buyer of the world’s products. “China needs the U.S. more than the U.S. needs China,” said Jacob Shapiro, director of analysis at online publication Geopolitical Futures.


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: evelyn cheng
Keywords: news, cnbc, companies, economic, war, experts, including, long, needs, trade, talks, latest, message, china, products, wei, beijing, chinese, stall


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

German data fails to lift euro from 1-week low

“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management. “We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt. The


“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management. “We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt. The
German data fails to lift euro from 1-week low Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, beijing, german, 1week, aussie, trade, week, growth, low, fails, lift, currency, economy, data, chinese, euro


German data fails to lift euro from 1-week low

The euro held at a one-week low on Wednesday, ignoring data from Germany that showed the economy returned to growth in the first quarter, as trade tensions between the world’s two biggest economies cast a shadow over risk appetite.

The single currency has been caught in the cross-currents of an escalating dispute between Washington and Beijing since last week, unable to conclusively rise above the $1.1250 level.

“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management.

U.S. President Donald Trump threatened higher tariffs on billions of dollars of Chinese imports last week, and Beijing responded with planned tariff hikes of its own on Monday.

The escalation in the trade dispute comes at a time when latest data from Germany showed the economy returned to growth in the March quarter as householders spent more freely and construction activity picked up.

The single currency was broadly steady at $1.1213 – just above a one-week low of $1.1197 hit in the Asian session and more than 3% below a 2019 high of nearly $1.16 in early January.

Germany’s economic figures were a sole bright indicator in an otherwise slate of dismal data.

China on Wednesday reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the United States rumbles on.

“We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt.

The Aussie dollar dropped as low as $0.6922, its lowest level since Jan. 3 when a flash crash in the foreign exchange markets rocked major currencies.

Barring that level, the currency was at its weakest in three years and down 0.2% on the day.

The weak data gave further impetus to Aussie bears to add to their negative bets with net outstanding short positions still below 2019 highs of above $5.2 billion.

The Aussie is often seen as a proxy for Chinese growth because of Australia’s export-reliant economy and China being the country’s main destination for its commodities.

Domestic data added to the woes, with the pace of growth in Australian wages stagnating.

Neighbouring New Zealand saw its currency dip 0.1% to $0.6567.

The Chinese yuan itself was slightly improved on the day at 6.8993 per U.S. dollar, but still close to a five-month low hit on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, beijing, german, 1week, aussie, trade, week, growth, low, fails, lift, currency, economy, data, chinese, euro


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post