US companies are canceling investment into China at a faster clip, survey shows

However, survey respondents did note an overall improvement in nearly all issues of concern — including intellectual property protection and forced technology transfer. The proportion of businesses that said the Chinese government treats foreign and local companies equally also rose from 34% to 40% in the latest survey. But retaliatory tariffs from both sides are hitting revenues and causing some American firms to change their China strategy, the AmCham survey showed. Just over half of the surve


However, survey respondents did note an overall improvement in nearly all issues of concern — including intellectual property protection and forced technology transfer. The proportion of businesses that said the Chinese government treats foreign and local companies equally also rose from 34% to 40% in the latest survey. But retaliatory tariffs from both sides are hitting revenues and causing some American firms to change their China strategy, the AmCham survey showed. Just over half of the surve
US companies are canceling investment into China at a faster clip, survey shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: evelyn cheng
Keywords: news, cnbc, companies, canceling, tariffs, clip, shows, companies, investment, trade, china, respondents, report, faster, american, local, foreign, survey


US companies are canceling investment into China at a faster clip, survey shows

Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California on May 14, 2019. – Global markets remain on red alert over a trade war between the two superpowers China and the US, that most observers warn could shatter global economic growth, and hurt demand for commodities like oil. (Photo by Mark RALSTON / AFP) (Photo credit should read MARK RALSTON/AFP/Getty Images) MARK RALSTON | AFP | Getty Images

Some American companies in China are speeding up their move away from the mainland as increasing tariffs continue to hurt their businesses. That’s according to a survey released by the American Chamber of Commerce in Shanghai on Wednesday. More than a quarter of the respondents – or 26.5% – said that in the past year, they have redirected investments originally planned for China to other regions. That’s an increase of 6.9 percentage points from last year, the AmCham report said, noting that technology, hardware, software and services industries had the highest level of changes in investment destination. The research, conducted in partnership with PwC, surveyed 333 members of the American Chamber of Commerce in Shanghai. It was conducted from June 27 to July 25 — during the period when U.S. President Donald Trump and Chinese President Xi Jinping agreed to resume trade talks, and before the latest escalation in retaliatory tariffs. U.S. firms in the mainland also said restrictions to accessing the local market have made it difficult for them to carry out their business, the report said. Asked about the best possible scenarios in ongoing trade negotiations, more than 40% of respondents said greater access to the domestic market would be the most important outcome to help their businesses succeed. That was followed by more than 28% that ranked improved intellectual property protection as key. The third most hoped-for outcome of the trade talks was “increased purchases of U.S. goods,” at 14.3%, the survey showed. That’s in contrast to the Trump administration’s latest efforts to pressure China into buying more American products, especially in agriculture.

Barred from market access

One of the longstanding complaints U.S. companies have about operating in China is that many industries are closed to foreign businesses. In the sectors that are open, it is difficult to compete with state-owned enterprises or privately owned companies that may benefit from local connections or policies, they say. Allegations of forced transfer of critical technology to Chinese partners and lack of intellectual property protection are just some of the challenges U.S. businesses cite for operating in China. The latest AmCham survey found accessing the local market remained one of the key problems companies faced, with more than half the respondents — or 56.4% — saying that obtaining licenses was not easy.

Still, with no sign of a trade agreement, 2019 will be a difficult year; without a trade deal, 2020 may be worse. AmCham Shanghai and PwC survey

By industry, the one that most sought improved market access was the banking, finance and insurance sector. The high 81% of respondents in that sector seeking a better business environment contrasts with Beijing’s announcements in the last 18 months that it will be relaxing foreign ownership rules in the financial sector. Some measures include allowing majority foreign ownership of a local securities venture and increased foreign ownership of local stocks. However, survey respondents did note an overall improvement in nearly all issues of concern — including intellectual property protection and forced technology transfer. The proportion of businesses that said the Chinese government treats foreign and local companies equally also rose from 34% to 40% in the latest survey.

Tariffs hurting US firms

The U.S. business presence in China remains strong, with American companies and their affiliates raking in more than $450 billion in sales in the Asian country, according to an August report from research firm Gavekal Dragonomics. The analysis also pointed out that sales figure is more than twice the value of U.S. exports of goods and services to China. But retaliatory tariffs from both sides are hitting revenues and causing some American firms to change their China strategy, the AmCham survey showed. If Washington were to impose all the duties as threatened, essentially all Chinese goods exported to the U.S. will be subject to tariffs by the end of the year. In response to the increasing American duties, Beijing has countered with tariffs of its own on U.S. exports to China.

Just over half of the survey respondents said revenue has decreased as a result of the increased tariffs. One third of them attributed a drop of between 1% and 10% of revenue to the higher duties. Overall profitability did not decline in 2018, the report said. But more respondents said revenue and margins declined last year, especially compared with operations in other countries. Pessimism levels shot up by 14 percentage points to about 21% — respondents felt less optimistic about the outlook for 2019 due in part to a slowing domestic economy.

Bright spots remain in China

The survey, however, did find some areas of optimism among respondents in China. The pharmaceuticals, medical devices and life sciences category ranked among the industries with the most respondents reporting revenue growth last year. That sector also came in second among those most optimistic about 2019. The AmCham report said the positive outlook was “likely due to government policy changes, including accelerated approvals of foreign drugs.” More than two-thirds of companies in food and agriculture planned to increase investment in 2019, the most of any industry, the report said. Retail and consumer companies also intended to invest more in China, especially in smaller cities where many analysts still see a major growth opportunity. However, businesses are getting ready for a drawn out trade war between the two economic giants. Of those surveyed, 35% expect trade tensions to continue for another 1 to 3 years, while nearly 13% say it will go on for 3 to 6 years. About 17%, however, were even more pessimistic, and predict that the trade conflict will drag on indefinitely. The report added: “Still, with no sign of a trade agreement, 2019 will be a difficult year; without a trade deal, 2020 may be worse.”


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: evelyn cheng
Keywords: news, cnbc, companies, canceling, tariffs, clip, shows, companies, investment, trade, china, respondents, report, faster, american, local, foreign, survey


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China to scrap foreign investment quotas to attract more money into its stock, bond markets

Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China. China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital. It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China


Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China. China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital. It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China
China to scrap foreign investment quotas to attract more money into its stock, bond markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11
Keywords: news, cnbc, companies, quotas, yuan, capital, bond, investment, money, stock, attract, markets, qfii, china, investors, overseas, outflows, scrap, foreign, exchange, chinas


China to scrap foreign investment quotas to attract more money into its stock, bond markets

Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China.

China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital.

While underlining China’s thirst for overseas funding as its economy slows amid a debilitating trade war with the United States, the move also appears largely symbolic, as two-thirds of the existing quotas remain unused.

China’s State Administration of Foreign Exchange (SAFE) would remove quotas on the dollar-dominated qualified foreign institutional investor (QFII) scheme and its yuan-denominated sibling, RQFII, it said in a statement on its website.

It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China’s bond and stock markets more broadly accepted by international markets.”

The removal of quotas comes amid an escalating Sino-U.S. trade war that threatens growth in the world’s second-biggest economy.

Beijing hopes that foreign capital inflows could help to offset rising outflows and lend support to its yuan, which has dropped to its lowest levels against the U.S. dollar since the onset of the global financial crisis in 2008.

Inflows could also help bolster China’s balance of payments, as some analysts fear the country is slipping dangerously towards twin deficits in its fiscal and current accounts.

The removal “is a clear signal that policymakers want to encourage capital inflows,” wrote Win Thin, Global Head of Currency Strategy at Brown Brothers Harriman.

“The corollary is that they are still very worried about capital outflows and so will make sure to avoid any steps that might increase them,” he said.

China in January doubled the QFII quota to $300 billion, but only $111.4 billion of the limit had been used by foreign investors by the end of August.

China’s securities regulator also published draft rules earlier this year that would combine the QFII and RQFII programmes while also simplifying access for overseas investors.


Company: cnbc, Activity: cnbc, Date: 2019-09-11
Keywords: news, cnbc, companies, quotas, yuan, capital, bond, investment, money, stock, attract, markets, qfii, china, investors, overseas, outflows, scrap, foreign, exchange, chinas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

India’s foreign minister says removing Kashmir’s special status will help the state grow

India’s foreign minister says that his country’s decision last month to revoke a special status granted to Jammu and Kashmir was done to improve governance and development in the state. The state of Jammu and Kashmir has enjoyed special privileges under a temporary provision which limits New Delhi’s power to make laws for the state. “The earlier provision of law actually impeded entrepreneurship, development, progress, governance in that state,” Jaishankar told CNBC’s Martin Soong. Jaishankar sa


India’s foreign minister says that his country’s decision last month to revoke a special status granted to Jammu and Kashmir was done to improve governance and development in the state. The state of Jammu and Kashmir has enjoyed special privileges under a temporary provision which limits New Delhi’s power to make laws for the state. “The earlier provision of law actually impeded entrepreneurship, development, progress, governance in that state,” Jaishankar told CNBC’s Martin Soong. Jaishankar sa
India’s foreign minister says removing Kashmir’s special status will help the state grow Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, provision, india, jaishankar, status, removing, development, jammu, governance, help, kashmir, temporary, grow, indias, minister, foreign, special, kashmirs, state


India's foreign minister says removing Kashmir's special status will help the state grow

India’s foreign minister says that his country’s decision last month to revoke a special status granted to Jammu and Kashmir was done to improve governance and development in the state. The state of Jammu and Kashmir has enjoyed special privileges under a temporary provision which limits New Delhi’s power to make laws for the state. It also allows Jammu and Kashmir to have its own constitution, its own flag and take decisions — except for matters related to defense and foreign affairs. Known as Article 370, the provision had been included in the Indian constitution for decades until it was revoked in August. Speaking to CNBC on Monday, India’s minister of external affairs Subrahmanyam Jaishankar said: “This was a temporary provision done 70 years ago, and 70 years ago is a reasonable time for the definition ‘temporary.'” “The earlier provision of law actually impeded entrepreneurship, development, progress, governance in that state,” Jaishankar told CNBC’s Martin Soong.

Integration with India

Before winning this year’s parliamentary elections, Prime Minister Narendra Modi’s ruling Bharatiya Janata Party had argued Kashmir’s special constitutional status hindered its integration with the rest of the country. Jaishankar said Jammu and Kashmir’s special status raised the cost of doing business in the state, and claimed that funds sent for its development were being misappropriated. He added the quality of governance was not good and that there was a socio-economic misalignment with the rest of the country. Revoking Article 370 was “done with the intent of better governance, more development of creating a new paradigm in Kashmir and we think it will work,” Jaishankar said. India has long accused Pakistan of supporting cross-border terrorism carried out in Jammu and Kashmir and elsewhere in the country — a charge that Islamabad denies. “The sense of being separate from the rest of India — that was taken advantage of to actually create both a separatist political movement as well as to, by our neighbor, undertake a very nasty unrelenting effort at cross-border terrorism,” Jaishankar claimed, referring to Pakistan.

‘Prudent’ measures

Jammu and Kashmir is India’s only Muslim-majority state. It includes the disputed Kashmir region, which both India and Pakistan lay claim to but control only parts of. Within the India-controlled region of Kashmir, an insurgency began in the late 1980s when some fought to join Pakistan and some fought for independence. The nuclear-armed rivals have fought multiple wars over the contested area. Most recently, both sides carried out air strikes in each other’s territory after a terrorist attack in India-controlled Kashmir killed more than 40 security officers in February.

Minister of External Affairs of India, Subrahmanyam Jaishankar speaks during a bilateral meeting in Jakarta, Indonesia. Anton Raharjo | Anadolu Agency | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, provision, india, jaishankar, status, removing, development, jammu, governance, help, kashmir, temporary, grow, indias, minister, foreign, special, kashmirs, state


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Argentina imposes currency controls as its economic crisis deepens

A woman walks with an Argentinian flag during a march in support of President Mauricio Macri on August 24, 2019 in Buenos Aires, Argentina. Argentina’s government has imposed currency controls in a bid to stabilize financial markets, as Latin America’s third-largest economy faces a deepening economic crisis. The temporary measures, announced on Sunday, allow the government to restrict foreign currency purchases following a sharp drop in the super-sensitive peso. All companies must now request pe


A woman walks with an Argentinian flag during a march in support of President Mauricio Macri on August 24, 2019 in Buenos Aires, Argentina. Argentina’s government has imposed currency controls in a bid to stabilize financial markets, as Latin America’s third-largest economy faces a deepening economic crisis. The temporary measures, announced on Sunday, allow the government to restrict foreign currency purchases following a sharp drop in the super-sensitive peso. All companies must now request pe
Argentina imposes currency controls as its economic crisis deepens Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: sam meredith
Keywords: news, cnbc, companies, crisis, controls, imposes, mauricio, currency, deepens, place, argentina, central, president, financial, measures, markets, economic, foreign


Argentina imposes currency controls as its economic crisis deepens

A woman walks with an Argentinian flag during a march in support of President Mauricio Macri on August 24, 2019 in Buenos Aires, Argentina.

Argentina’s government has imposed currency controls in a bid to stabilize financial markets, as Latin America’s third-largest economy faces a deepening economic crisis.

The temporary measures, announced on Sunday, allow the government to restrict foreign currency purchases following a sharp drop in the super-sensitive peso.

All companies must now request permission from Argentina’s central bank to sell pesos and buy foreign currency to make transfers abroad.

In an official bulletin issued on Sunday, the government said currency controls were necessary “to ensure the normal functioning of the economy.”

The latest move follows the surprise announcement on Wednesday that Argentina would seek to defer payments on roughly $100 billion of debt, which credit rating agency S&P classified as a default under its own criteria.

The measures — which will remain in place until the end of the year — constitute a startling turnabout for President Mauricio Macri.

Shortly after starting his term in December 2015, the embattled leader of South America’s second-largest country abruptly removed strict capital controls that had been in place since 2011.

Macri’s government and the central bank are trying to shore up confidence in financial markets ahead of the presidential election on October 27.


Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: sam meredith
Keywords: news, cnbc, companies, crisis, controls, imposes, mauricio, currency, deepens, place, argentina, central, president, financial, measures, markets, economic, foreign


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Foreign exchange markets tell us no-deal Brexit is a risk: Strategist

Foreign exchange markets tell us no-deal Brexit is a risk: Strategist13 Hours AgoSarah Hewin, chief economist for Europe and Americas at Standard Chartered Bank, gives her take on what Brexit means for markets.


Foreign exchange markets tell us no-deal Brexit is a risk: Strategist13 Hours AgoSarah Hewin, chief economist for Europe and Americas at Standard Chartered Bank, gives her take on what Brexit means for markets.
Foreign exchange markets tell us no-deal Brexit is a risk: Strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30
Keywords: news, cnbc, companies, exchange, hours, nodeal, strategist13, standard, strategist, tell, hewin, foreign, markets, means, risk, brexit


Foreign exchange markets tell us no-deal Brexit is a risk: Strategist

Foreign exchange markets tell us no-deal Brexit is a risk: Strategist

13 Hours Ago

Sarah Hewin, chief economist for Europe and Americas at Standard Chartered Bank, gives her take on what Brexit means for markets.


Company: cnbc, Activity: cnbc, Date: 2019-08-30
Keywords: news, cnbc, companies, exchange, hours, nodeal, strategist13, standard, strategist, tell, hewin, foreign, markets, means, risk, brexit


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

India to woo Apple, other foreign firms to capitalize on US-China trade war

A salesman speaks with a customer after he purchased a new smartphone made by Xiaomi at a Mi store in Gurgaon, India, August 20, 2019. Amid suggestions that India is late to capitalize on the trade war, government ministries have been asked to submit their policies and incentive structures to Invest India, the country’s foreign investment promotion agency. The document said the government will meet companies between Aug. 26 and Sept. 5 to suggest the best investment zones for their operations. A


A salesman speaks with a customer after he purchased a new smartphone made by Xiaomi at a Mi store in Gurgaon, India, August 20, 2019. Amid suggestions that India is late to capitalize on the trade war, government ministries have been asked to submit their policies and incentive structures to Invest India, the country’s foreign investment promotion agency. The document said the government will meet companies between Aug. 26 and Sept. 5 to suggest the best investment zones for their operations. A
India to woo Apple, other foreign firms to capitalize on US-China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-29  Authors: yun li
Keywords: news, cnbc, companies, companies, trade, uschina, capitalize, tariffs, war, aug, india, document, vietnam, foreign, woo, firms, investment, wistron, china, apple


India to woo Apple, other foreign firms to capitalize on US-China trade war

A salesman speaks with a customer after he purchased a new smartphone made by Xiaomi at a Mi store in Gurgaon, India, August 20, 2019. Sajjad Hussain | AFP | Getty Images

India is targeting companies including Apple, Foxconn and Wistron with a charm offensive aimed at encouraging them to shift business out of trade war-hit China, according to a source and a document seen by Reuters. Several Indian officials met on Aug. 14 and discussed a list of “target companies” that also include Taiwan-headquartered contract manufacturer Pegatron, a source with direct knowledge said. The dispute between the United States and China, the world’s two largest economies, has led to higher tariffs on goods worth billions of dollars and disrupted global supply chains, prompting companies to look at other investment avenues to escape higher tariffs. Amid suggestions that India is late to capitalize on the trade war, government ministries have been asked to submit their policies and incentive structures to Invest India, the country’s foreign investment promotion agency. Nine sectors, including electronics, autos, pharmaceuticals and telecoms, will be targeted.

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. Subscribe: By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

The document said the government will meet companies between Aug. 26 and Sept. 5 to suggest the best investment zones for their operations. State governments will also participate. A “complete package” detailing market factors and Indian incentives on offer will then be readied for presenting to potential investors, according to the government record of the Aug. 14 meeting seen by Reuters. Apple, Wistron, Pegatron and Foxconn did not respond to a request for comment. It is not clear whether the government will dole out new incentives or just detail existing ones, but the document shows India wants to explore opportunities and move swiftly, even as some fear it has missed the bus. As companies think about rebuilding supply chains outside of China, a major global manufacturing hub, nations such as Vietnam have emerged as top destinations given the faster clearances and stable policies they offer, industry experts say. Alphabet’s Google is shifting its Pixel smartphone production to Vietnam from China starting this year, the Nikkei business daily reported on Wednesday. “There is one other monster country that has a huge domestic market, India, but they have got to get moving,” said Richard Rossow, a U.S.-India specialist at the Center for Strategic and International Studies in Washington. “There is no time to waste in catching that new wave and in fact the question is: Have they already missed it?”

Benefiting from tariffs war


Company: cnbc, Activity: cnbc, Date: 2019-08-29  Authors: yun li
Keywords: news, cnbc, companies, companies, trade, uschina, capitalize, tariffs, war, aug, india, document, vietnam, foreign, woo, firms, investment, wistron, china, apple


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Huge deals from the likes of Amazon help UK tech start-ups score record foreign investment

British technology start-ups have attracted more foreign investment since the start of the year than they did throughout all of 2018, according to fresh figures published Wednesday. U.S. and Asian venture capital investors poured $3.7 billion into U.K. tech companies in the first seven months of 2019, research from industry group Tech Nation and data firm Dealroom showed. Last year, U.K. start-ups raised $2.9 billion from American and Asian investors. Including domestic sources of cash, $6.7 bil


British technology start-ups have attracted more foreign investment since the start of the year than they did throughout all of 2018, according to fresh figures published Wednesday. U.S. and Asian venture capital investors poured $3.7 billion into U.K. tech companies in the first seven months of 2019, research from industry group Tech Nation and data firm Dealroom showed. Last year, U.K. start-ups raised $2.9 billion from American and Asian investors. Including domestic sources of cash, $6.7 bil
Huge deals from the likes of Amazon help UK tech start-ups score record foreign investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: ryan browne
Keywords: news, cnbc, companies, investment, asian, record, foreign, score, likes, help, million, startups, uk, venture, funding, tech, start, huge, billion, nation


Huge deals from the likes of Amazon help UK tech start-ups score record foreign investment

British technology start-ups have attracted more foreign investment since the start of the year than they did throughout all of 2018, according to fresh figures published Wednesday.

U.S. and Asian venture capital investors poured $3.7 billion into U.K. tech companies in the first seven months of 2019, research from industry group Tech Nation and data firm Dealroom showed. Last year, U.K. start-ups raised $2.9 billion from American and Asian investors.

The eye-watering sum was boosted by nine-figure deals from capital-rich companies like Amazon and SoftBank. In May, Amazon led a $575 million funding round for Deliveroo — although that was hit with a warning from the U.K. competition regulator — while SoftBank’s notable U.K. investments include $800 million for Greensill and $390 million for OakNorth.

Including domestic sources of cash, $6.7 billion has been invested into private British tech firms overall in 2019, Tech Nation said, adding that figure could rise to a record $11 billion by the end of the year. The organization said U.S. corporate venture capital funding for U.K. start-ups has risen by 3% in the last six years, while Asian corporate funding is up 20%.

“It’s evidence for us that there’s growing interest for emerging technologies that are gaining a lot of traction in the U.K. from foreign investors,” George Windsor, Tech Nation’s head of insights, told CNBC in a phone interview. “This shows us the U.K. is continuing to perform strongly on the global stage, and for us this is just the start.”


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: ryan browne
Keywords: news, cnbc, companies, investment, asian, record, foreign, score, likes, help, million, startups, uk, venture, funding, tech, start, huge, billion, nation


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Japan surpasses China as largest foreign holder of US Treasurys

How the Chinese yuan is likely to perform in three trade war… The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…Asia FXread more


How the Chinese yuan is likely to perform in three trade war… The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…Asia FXread more
Japan surpasses China as largest foreign holder of US Treasurys Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: patti domm
Keywords: news, cnbc, companies, turning, research, perform, holder, treasurys, war, japan, trade, say, china, predicts, largest, surpasses, foreign, warthe, theasia, yuan


Japan surpasses China as largest foreign holder of US Treasurys

How the Chinese yuan is likely to perform in three trade war…

The trade war between the U.S. and China is turning into a brewing currency war, say analysts. Bank of America Merrill Lynch Global Research predicts what might happen to the…

Asia FX

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: patti domm
Keywords: news, cnbc, companies, turning, research, perform, holder, treasurys, war, japan, trade, say, china, predicts, largest, surpasses, foreign, warthe, theasia, yuan


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China accuses Pelosi and McConnell of inciting ‘chaos’ in Hong Kong

Months of protests, violence and large-scale disruptions in Hong Kong have thrust the city into the global spotlight. “The U.S. denied on many occasions its involvement in the ongoing violent incidents in Hong Kong. A host of public statements show it’s accurate to say American officials have been commenting about Hong Kong — which has seen increasing violence between pro-democracy protesters, counter-protesters, and police. U.S. President Donald Trump said in a Tuesday Twitter post that he “can


Months of protests, violence and large-scale disruptions in Hong Kong have thrust the city into the global spotlight. “The U.S. denied on many occasions its involvement in the ongoing violent incidents in Hong Kong. A host of public statements show it’s accurate to say American officials have been commenting about Hong Kong — which has seen increasing violence between pro-democracy protesters, counter-protesters, and police. U.S. President Donald Trump said in a Tuesday Twitter post that he “can
China accuses Pelosi and McConnell of inciting ‘chaos’ in Hong Kong Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: everett rosenfeld
Keywords: news, cnbc, companies, inciting, country, pelosi, kongs, protests, chaos, chinas, mcconnell, kong, china, accuses, foreign, hong, violent, autonomy, hua


China accuses Pelosi and McConnell of inciting 'chaos' in Hong Kong

Months of protests, violence and large-scale disruptions in Hong Kong have thrust the city into the global spotlight. According to China, there’s “powerful evidence” that the United States has been involved.

A spokeswoman for China’s Foreign Ministry claimed Tuesday that recent comments from American lawmakers — including House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Mitch McConnell, R-Ky. — demonstrate that Washington’s real goal is to incite chaos in the city.

“The U.S. denied on many occasions its involvement in the ongoing violent incidents in Hong Kong. However, the comments from those members of the U.S. Congress have provided the world with new and powerful evidence on the country’s involvement,” Foreign Ministry Spokesperson Hua Chunying said, according to an official translation of her remarks.

A host of public statements show it’s accurate to say American officials have been commenting about Hong Kong — which has seen increasing violence between pro-democracy protesters, counter-protesters, and police. Still, Hua accused U.S. politicians of intentionally distorting their assessments and spurring clashes.

“By neglecting and distorting the truth, they whitewashed violent crimes as a struggle for human rights and freedom, and deliberately misinterpreted the work of Hong Kong police as violent repression when the police were only enforcing the law, fighting crimes and upholding social order,” she said.

“They even incited the Hong Kong residents to engage in confrontation with the (special administrative region) government and the central government,” Hua added. “How anxious are they to instigate and see chaos!”

U.S. President Donald Trump said in a Tuesday Twitter post that he “can’t imagine why” anyone would blame the United States for “the problems” in Hong Kong.

The ongoing protests can be traced back to March when thousands marched against a proposed bill that would allow Hong Kong to extradite people to mainland China. Although the former British colony has been part of the country since 1997, it’s designated as a Chinese “special administrative region” and has been allowed a degree of autonomy in legal and financial matters. That arrangement has been known as “one country, two systems” and it guides Hong Kong’s constitutionally enshrined mandate that the city will maintain its “previous capitalist system” for 50 years after it officially rejoined China.

Given that background, many in Hong Kong said the proposed extradition law would erode their city’s autonomy. Hong Kong’s leader, Carrie Lam, eventually announced the government would indefinitely halt the bill, but protests continued as demonstrators called for it to be officially withdrawn and for an investigation into police actions. As hundreds of thousands, by some counts, have continued to take to the streets, the messages have increasingly become about democracy, autonomy and even independence.

That’s been a red line for China’s leadership, and Beijing mouthpieces and officials have repeatedly emphasized that Hong Kong’s relationship with the rest of the country is not up for discussion. And that’s the topic now inducing the Foreign Ministry’s criticisms of U.S. officials.

“We solemnly remind you this plain truth: Hong Kong affairs are entirely China’s internal affairs, and you are neither entitled nor qualified to wantonly comment on them,” Hua said Tuesday. “Mind your own business and stay out of Hong Kong affairs.”


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: everett rosenfeld
Keywords: news, cnbc, companies, inciting, country, pelosi, kongs, protests, chaos, chinas, mcconnell, kong, china, accuses, foreign, hong, violent, autonomy, hua


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here are the top 10 foreign trips Americans cover with travel insurance

The U.S. may be a big country with a lot for domestic vacationers to experience, yet Americans like to venture abroad, too. For example, about 8.7 million Americans flew or cruised to the Caribbean last year, while 17.74 million-plus made tracks for Europe, over 6.25 million headed to Asia and more than 2.44 million vacationed in the Middle East. The Los Angeles Times reported in 2016 that overseas trips can cost up to five times more than domestic ones, so it’s no surprise many of those plannin


The U.S. may be a big country with a lot for domestic vacationers to experience, yet Americans like to venture abroad, too. For example, about 8.7 million Americans flew or cruised to the Caribbean last year, while 17.74 million-plus made tracks for Europe, over 6.25 million headed to Asia and more than 2.44 million vacationed in the Middle East. The Los Angeles Times reported in 2016 that overseas trips can cost up to five times more than domestic ones, so it’s no surprise many of those plannin
Here are the top 10 foreign trips Americans cover with travel insurance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, million, travel, insurance, planning, according, vacationers, foreign, tourism, americans, trips, cover, times


Here are the top 10 foreign trips Americans cover with travel insurance

The U.S. may be a big country with a lot for domestic vacationers to experience, yet Americans like to venture abroad, too.

More than 40% of U.S. citizens hold passports and, according to the National Travel and Tourism Office in Washington, D.C., some 93.04 million of them traveled outside U.S. borders in 2018.

For example, about 8.7 million Americans flew or cruised to the Caribbean last year, while 17.74 million-plus made tracks for Europe, over 6.25 million headed to Asia and more than 2.44 million vacationed in the Middle East.

Heading so far outside U.S. borders often comes at considerable cost. The Los Angeles Times reported in 2016 that overseas trips can cost up to five times more than domestic ones, so it’s no surprise many of those planning a foreign vacation opt to purchase travel insurance. Whether or insurance is a good fit for one’s own trip, however, depends on individual circumstances, CNBC has reported.

More from Personal Finance:

How Medicare may fit into overseas retirement plans, or not

1 in 5 spend more time planning vacations than finances

The top 10 safest countries for retirement

Geopolitical or personal safety concerns can also come into play with trips to certain destinations. For example, Warwick, Rhode Island-based online travel insurance emporium InsureMyTrip has noted a rise in policies sold for trips to the Dominican Republic after reports of Americans falling ill there, according to a spokesperson. In fact, 3 out of 10 calls to its insurance agents are from travelers with questions about or cancellation requests for the country.

Here’s a look at the top 10 foreign countries (excluding cruise destinations) that vacationers who have opted to buy travel insurance have headed to over the past 18 months, according to InsureMyTrip.com, along with figures for the total number of Americans, insured and not, who visited these nations in 2017 or 2018.

Sources: InsureMyTrip.com, National Travel and Tourism Office


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: kenneth kiesnoski
Keywords: news, cnbc, companies, million, travel, insurance, planning, according, vacationers, foreign, tourism, americans, trips, cover, times


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post