China posts its lowest quarterly growth in 27 years as the trade war drags on

China released second-quarter figures on Monday showing that its economy slowed to 6.2% — the weakest rate in at least 27 years, as the country’s trade war with the U.S. took its toll. From April to June, China’s economy grew 6.2% from a year ago, the country’s statistics bureau said on Monday. The second quarter economic growth was the country’s slowest pace since the first quarter of 1992 — the earliest quarterly data on record, according to Reuters. China’s statistics bureau said the economy


China released second-quarter figures on Monday showing that its economy slowed to 6.2% — the weakest rate in at least 27 years, as the country’s trade war with the U.S. took its toll. From April to June, China’s economy grew 6.2% from a year ago, the country’s statistics bureau said on Monday. The second quarter economic growth was the country’s slowest pace since the first quarter of 1992 — the earliest quarterly data on record, according to Reuters. China’s statistics bureau said the economy
China posts its lowest quarterly growth in 27 years as the trade war drags on Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: huileng tan
Keywords: news, cnbc, companies, countrys, drags, growth, 27, quarter, chinas, quarterly, lowest, economy, trade, war, bureau, statistics, 62, china, posts


China posts its lowest quarterly growth in 27 years as the trade war drags on

China released second-quarter figures on Monday showing that its economy slowed to 6.2% — the weakest rate in at least 27 years, as the country’s trade war with the U.S. took its toll.

From April to June, China’s economy grew 6.2% from a year ago, the country’s statistics bureau said on Monday. That was in line with the expectations of analysts polled by Reuters, and lower than the 6.4% year-on-year growth in the first quarter of 2019.

The second quarter economic growth was the country’s slowest pace since the first quarter of 1992 — the earliest quarterly data on record, according to Reuters.

China’s statistics bureau said the economy faces a complex situation with increasing external uncertainties, Reuters reported. The world’s second largest economy also faces new downward pressures and will try to ensure steady economic growth, the statistics bureau added.

China’s months-long trade dispute with the U.S. has weighed on its economy.

“Uncertainty caused by the US-China trade war was an important factor and we think this will persist, despite the recent tariff truce, ” said Tom Rafferty, principal economist for China at The Economist Intelligence Unit.

“Businesses remain skeptical that the two countries will reach a broader trade agreement and recognise that trade tensions may escalate again,” wrote Rafferty in a note on Monday.

One analyst said he will be watching China’s employment numbers more closely for a better read of the economy.

“Are factories shedding workers as their order book falls? Because that leads to the overall target of saying ‘we want to grow employment’ — and the social structure of China hinges on that, and I think that’s very important for the authorities,” said Colin Graham, Chief Investment Officer of multi asset solutions at Eastspring Investments.

Graham said there is room for the People’s Bank of China to introduce more fiscal stimulus in the months ahead to steady the economy.

“They have room to make sure the economy doesn’t slow too quickly,” Graham told CNBC’s “Street Signs” on Monday after the GDP numbers were released. He said he expected China’s 2019 full-year GDP growth to be flat at between 6.2% and 6.3% from a year ago.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: huileng tan
Keywords: news, cnbc, companies, countrys, drags, growth, 27, quarter, chinas, quarterly, lowest, economy, trade, war, bureau, statistics, 62, china, posts


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b


The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b
Billionaire James Dyson reportedly buys $54 million penthouse in Singapore Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building.

British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday.

The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners.

The Business Times did not specify its sources, but local newspaper The Straits Times said it had reviewed documents revealing the purchase.

Official title records seen by Reuters show billionaire Dyson and his wife became tenants of the 99-year leasehold property on June 20. The records did not state the price paid, the wire said.


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China’s soybean demand is ‘surprisingly’ strong despite continued swine fever outbreak

Soybean demand in China appears to be surprisingly robust despite the widespread culling of pigs due to African swine fever. “If China loses about 40% or more of their hogs, we would normally assume soybean demand would be down a large amount as well. Dutch agribusiness lender Rabobank said in a June report that losses in pig herd are “difficult to estimate” and could be anywhere from 20% to 70%. “Even if every pound of pork lost was exactly replaced by one pound of poultry, the overall soybean


Soybean demand in China appears to be surprisingly robust despite the widespread culling of pigs due to African swine fever. “If China loses about 40% or more of their hogs, we would normally assume soybean demand would be down a large amount as well. Dutch agribusiness lender Rabobank said in a June report that losses in pig herd are “difficult to estimate” and could be anywhere from 20% to 70%. “Even if every pound of pork lost was exactly replaced by one pound of poultry, the overall soybean
China’s soybean demand is ‘surprisingly’ strong despite continued swine fever outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: huileng tan
Keywords: news, cnbc, companies, demand, pig, feed, china, food, chinas, friedrichs, surprisingly, hogs, herd, outbreak, despite, strong, fever, swine, continued, soybean, pork


China's soybean demand is 'surprisingly' strong despite continued swine fever outbreak

A hired hand feeds a sow which recently gave birth to a new litter at the Grand Canal Pig Farm in Jiaxing, in China’s Zhejiang province.

Soybean demand in China appears to be surprisingly robust despite the widespread culling of pigs due to African swine fever.

That may be indicating that farmers are switching from food waste to manufactured feed, according to one analyst, which could mean better-than-expected demand will persist.

The Chinese use of soybeans is an important metric for the country’s trade relationships. Since China is the world’s top buyer of the oilseeds, it could give some support to American exports as shipments for the current marketing year may be on pace to top U.S. government forecasts, a recent Reuters analysis showed.

China’s sustained demand for soybeans has been called into question not just by trade war tensions but also by a raging outbreak of African swine fever, which has forced farmers to cull a significant percentage of their pigs.

Nevertheless, China’s need for the feed material seems to be defying expectations.

“The soybean crushing rate and soybean demand is down compared to last year at this time, but is still surprisingly strong given how many hogs China has lost,” said Darin Friedrichs, senior Asia commodity analyst at INTL FCStone.

“If China loses about 40% or more of their hogs, we would normally assume soybean demand would be down a large amount as well. At this point it’s maybe only down 5-10% or so which is surprising,” Friedrichs told CNBC.

However, China-based firms such as Cofeed are estimating year-to-date figures for certain soybean processing fell just 3.6% from a year ago, Friedrichs said.

Analysts have been struggling to assess the severity of the virus on China’s pig herds. Dutch agribusiness lender Rabobank said in a June report that losses in pig herd are “difficult to estimate” and could be anywhere from 20% to 70%.

China, which produces half the world’s pork, said in June its sow herd declined by a record 23.9% in May from a year ago, a slightly deeper drop than for the overall pig herd, Reuters reported. The government’s figures have, according to Rabobank, represented “one of the most optimistic estimates we have seen.”

The decline in pork supply in China has pushed up prices of food in the country and spurred consumers to eat other proteins such as chicken or seafood.

However, alternative meat sources such as poultry or seafood do not consume as much feed as pigs, said Friedrichs.

“Even if every pound of pork lost was exactly replaced by one pound of poultry, the overall soybean demand would be lower,” Friedrichs added in his report.

So, “perhaps this all comes down to the question of how much food waste was being fed to hogs,” Friedrichs said.


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: huileng tan
Keywords: news, cnbc, companies, demand, pig, feed, china, food, chinas, friedrichs, surprisingly, hogs, herd, outbreak, despite, strong, fever, swine, continued, soybean, pork


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Private survey of China’s factory activity in June shows lowest reading since January

China’s manufacturing activity shrank unexpectedly in June, coming in at its worst reading since January, according to a private survey. The PMI reading for May was 50.2. PMI readings above 50 indicate expansion, while those below that signal contraction. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator, features a bigger mix of small- and medium-sized firms.


China’s manufacturing activity shrank unexpectedly in June, coming in at its worst reading since January, according to a private survey. The PMI reading for May was 50.2. PMI readings above 50 indicate expansion, while those below that signal contraction. The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator, features a bigger mix of small- and medium-sized firms.
Private survey of China’s factory activity in June shows lowest reading since January Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: huileng tan
Keywords: news, cnbc, companies, lowest, chinas, pmi, factory, survey, reading, caixin, shows, zhong, readings, private, orders, activity, indicator, polled


Private survey of China's factory activity in June shows lowest reading since January

China’s manufacturing activity shrank unexpectedly in June, coming in at its worst reading since January, according to a private survey.

The Caixin/Markit factory Purchasing Managers’ Index for June was 49.4 — the lowest since January when the indicator came in at 48.3.

Analysts polled by Reuters had expected the indicator to come in at 50. The PMI reading for May was 50.2.

PMI readings above 50 indicate expansion, while those below that signal contraction.

The lackluster reading was due to new orders falling into contractionary territory, pointing to shrinking domestic demand, said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin. The index measuring new export orders was also in negative territory,.

“Overall, China’s economy came under further pressure in June,” Zhong wrote in a report.

“It’s crucial for policymakers to step up countercyclical policies. New types of infrastructure, high-tech manufacturing and consumption are likely to be the main policy focuses,” Zhong added.

The Caixin survey finding was in line with readings from China’s official PMI which stood at 49.4 in June, contracting more than expected, according to China’s National Bureau of Statistics on Sunday. That was unchanged from the previous month. Analysts polled by Reuters had predicted a reading of 49.5.

The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator, features a bigger mix of small- and medium-sized firms.

The PMI is a survey of businesses about the operating environment. Such data offer a first glimpse into what’s happening in an economy, as they are usually among the first major economic indicators released each month.

For China, the PMI is among economic indicators that investors globally watch closely for signs of trouble amid domestic headwinds and the ongoing U.S.-China trade dispute.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: huileng tan
Keywords: news, cnbc, companies, lowest, chinas, pmi, factory, survey, reading, caixin, shows, zhong, readings, private, orders, activity, indicator, polled


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Airbus is pushing ahead in tech as it aims for single-pilot planes, says CTO

European aerospace giant Airbus is working on technologies that will cut the number of pilots needed in the cockpit, a company executive said on Thursday. Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. That change to cockpit staffing will solve problems like the shortage of pilots, particularly when growth in aviation is outpacing economic growth, she added. Ultimately, artificial intelligence will be


European aerospace giant Airbus is working on technologies that will cut the number of pilots needed in the cockpit, a company executive said on Thursday. Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. That change to cockpit staffing will solve problems like the shortage of pilots, particularly when growth in aviation is outpacing economic growth, she added. Ultimately, artificial intelligence will be
Airbus is pushing ahead in tech as it aims for single-pilot planes, says CTO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: huileng tan, blanche lim
Keywords: news, cnbc, companies, pilots, elevator, tech, vittadini, airbus, aims, tasks, really, cto, technologies, intelligence, planes, growth, safety, ahead, pushing, singlepilot


Airbus is pushing ahead in tech as it aims for single-pilot planes, says CTO

That will take the company “on the way to possibly one day achieve the single-pilot operation target we are aiming at,” she told CNBC at the Innovfest Unbound conference in Singapore.

“Embedding more and more artificial intelligence into our systems will enable us to start by really relieving the pilots from more mundane tasks, routine tasks — so really to keep the human element in the chain for the strategic thinking and decision-making type of tasks,” said Grazia Vittadini, chief technology officer at Airbus.

European aerospace giant Airbus is working on technologies that will cut the number of pilots needed in the cockpit, a company executive said on Thursday.

By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy .

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley.

That change to cockpit staffing will solve problems like the shortage of pilots, particularly when growth in aviation is outpacing economic growth, she added.

Ultimately, artificial intelligence will be the differentiating factor that will make planes autonomous, Vittadini said.

As to concerns stemming from fewer pilots on board, Vittadini said Airbus prioritizes safety above all else and will never go for a lower level of safety that what is currently available.

The scenario of planes going fully autonomous will take time — after all, it took 60 years to go from four to two pilots, she noted.

Passengers will be able to adapt to the new technologies, she projected.

“Our grandparents would have never stepped into an elevator without a lift boy. Today, an elevator ride is nothing exciting or of concern to any of us,” said Vittadini.


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: huileng tan, blanche lim
Keywords: news, cnbc, companies, pilots, elevator, tech, vittadini, airbus, aims, tasks, really, cto, technologies, intelligence, planes, growth, safety, ahead, pushing, singlepilot


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Kimchi stew, Spam and rice: Netflix film ‘Always Be My Maybe’ celebrates Asian cuisine in American life

Characters Marcus Kim and Sasha Tran eat together after reconnecting as adults in the Netflix film “Always Be My Maybe.” Kimchi jjigae or kimchi stew is heavily featured in the film in all of its steaming, fiery-red glory. Kimchi consumption at restaurants increased more than 16% this year as fusion dishes like kimchi pizza, kimchi grilled cheese and kimchi fries have started trending, according to market research firm NPD. Ku said the Spam, rice and furikake dish Sasha makes in the opening scen


Characters Marcus Kim and Sasha Tran eat together after reconnecting as adults in the Netflix film “Always Be My Maybe.” Kimchi jjigae or kimchi stew is heavily featured in the film in all of its steaming, fiery-red glory. Kimchi consumption at restaurants increased more than 16% this year as fusion dishes like kimchi pizza, kimchi grilled cheese and kimchi fries have started trending, according to market research firm NPD. Ku said the Spam, rice and furikake dish Sasha makes in the opening scen
Kimchi stew, Spam and rice: Netflix film ‘Always Be My Maybe’ celebrates Asian cuisine in American life Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-15  Authors: elizabeth myong, huileng tan
Keywords: news, cnbc, companies, cuisine, life, spam, kimchi, rice, stew, sasha, maybe, jjigae, jollibee, restaurant, food, celebrates, netflix, film


Kimchi stew, Spam and rice: Netflix film 'Always Be My Maybe' celebrates Asian cuisine in American life

Characters Marcus Kim and Sasha Tran eating together as teenagers in the Netflix film “Always Be My Maybe” Netflix

It’s 1996 in San Francisco and a young Marcus Kim does not want to be “that” kid at school – the one sitting in the corner of the lunchroom with the stinky, bright-red kimchi jjigae, a type of Korean stew. Desperate to avoid humiliation, he runs next door to his friend Sasha Tran, begging her to help his family finish the kimchi jjigae before school the next day. “Nobody wants to sit next to that kid with thermos soup!” Marcus says frantically. “Only the other kids with thermos soup, and I don’t want to sit next to those losers!” Sasha jokingly closes the door in his dejected face before opening it again smiling and laughing. She agrees to run next door and join his family for dinner: “You’re like my best friend,” she says. The new Netflix film “Always Be My Maybe” is the story of childhood sweethearts Marcus, played by Randall Park, and Sasha, played by Ali Wong, who have a falling out as teenagers only to reconnect later in life. Loosely inspired by the classic “When Harry Met Sally,” food plays a central role in the film, but it trades in pastrami sandwiches at Katz’s Deli for shumai, chicken feet, Spam and rice, and kimchi jjigae. Flash forward to 2019 in the film and times have changed. Kimchi jjigae is now a trendy food being sold at a restaurant run by a celebrity chef – who is none other than Sasha Tran.

Characters Marcus Kim and Sasha Tran eat together after reconnecting as adults in the Netflix film “Always Be My Maybe.” Netflix

The film is fictional, but Americans growing taste for Asian cuisine is not. From 2004-2018, sales for limited-service restaurants specializing in Asian-Pacific cuisine grew 114% in the U.S., according to Euromonitor International. Niki Nakayama, chef and owner of the Michelin-starred n/naka, worked as a food consultant for “Always Be My Maybe,” bringing to life the dishes at the film’s fictional restaurant Maximalist. Nakayama, who has been known to carefully track her diners’ preferences, said she’s noticed that people are more open minded than ever before. “I think nowadays, people are definitely open to trying everything a lot more than they used to be just because of the exposure,” she said. Her award-winning restaurant n/naka is one of the only in the Western world that specializes in Kaiseki, a traditional multicourse Japanese meal. Diners must make reservations months in advance to even have a chance of securing a spot at her restaurant. Nakayama said Japanese food can have unfamiliar textures or tastes to those who don’t typically eat it, but she sees that as part of its beauty.

Ali Wong (left) and Chef Niki Nakayama behind-the-scenes during the filming of “Always Be My Maybe.” Source: Netflix

“There are a lot of things that are slimy, sticky, chewy, firm and bite you back even though you don’t want it to,” she said with a chuckle. “For ourselves, we have to be mindful of that when we’re serving people things that may be of different textures and flavors. We do our part by sending out things in smaller doses so that it becomes something that they can acclimate towards.” Kimchi jjigae or kimchi stew is heavily featured in the film in all of its steaming, fiery-red glory. It’s a lesser-known dish, but American diners have become much more familiar with kimchi in recent years. Kimchi consumption at restaurants increased more than 16% this year as fusion dishes like kimchi pizza, kimchi grilled cheese and kimchi fries have started trending, according to market research firm NPD.

Kimchi jjigae Source: Netflix

And Robert Ji-Song Ku, a food studies professor at SUNY Binghamton in New York, said audiences shouldn’t be surprised to see Spam in the film’s opening scene. He has extensively studied the trend of “dubious foods” becoming mainstream, a topic he has written on extensively in his book “Dubious Gastronomy: The Cultural Politics of Eating Asian in the USA.” Ku said the Spam, rice and furikake dish Sasha makes in the opening scene would not have been viewed so positively years ago. Once seen as a lesser substitute or just bad, the canned meat is now a favorite to add a salty, fatty flavor to many Asian dishes.

A young Sasha Tran makes Spam, rice and furikake in the opening scene of “Always Be My Maybe” Source: Netflix

Hormel Foods, which owns Spam, experienced its fourth consecutive year of growth in 2019 and expects the trend to continue. CEO Jim Spree told CNBC in an interview that the company has noticed the growing demand of Spam. “We know consumers are connecting with it [spam] in ways they never have before,” he said. In fact, now Spam is frequently used in Korean budae jjigae or army stew, Japanese musubi which is nori-wrapped rice and meat, and Hawaiian loco moco or rice bowl. In terms of rising trends, Ku believes that Filipino food will be the next big thing. He said with the public’s increasing familiarity with Asian food, diners are more eager to experience new flavor profiles. One of the most obvious signs of this growth is Jollibee Foods, a Filipino fast-dining chain which started in the 1970s with just two ice cream parlors and now has an estimated 4,300 stores in 21 countries. In an interview with CNBC, Jollibee CEO Ernesto Tanmantiong said he wants to give McDonald’s and KFC a run for their money “hopefully in the future.” Tanmantiong is confident about the growing taste for Jollibee in the U.S. When Jollibee opened its first store in New York City last year, he said the first day of sales “went far beyond our expectations”. “What pleasantly surprised us was the number of non-Filipinos visiting our stores,” he said. “We observed that actually 50% of the customers who went to our stores were actually non-Filipinos.”

Customers dine inside a Jollibee restaurant on April 11, 2018 in Milan, Italy. Jollibee Food Corporation, a Filipino chain of fast food restaurants and the largest Asian food services company, has chosen Milan, home of the biggest Filipino community in Europe, to open its first European branch. Emanuele Cremaschi / Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-06-15  Authors: elizabeth myong, huileng tan
Keywords: news, cnbc, companies, cuisine, life, spam, kimchi, rice, stew, sasha, maybe, jjigae, jollibee, restaurant, food, celebrates, netflix, film


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Retaliation will not resolve the world’s trade conflict, expert says

Shipping containers from China and other nations are unloaded at the Long Beach Port in Los Angeles, on February 16, 2019. Countries need to cooperate to overcome their differences instead of resorting to retaliatory measures that hurt global growth, an international trade expert told CNBC on Friday. “The system is not perfect, but (having) no system is worse; chaos is worse and this is what we are facing today,” said Arancha Gonzalez, executive director of the International Trade Center. “It’s


Shipping containers from China and other nations are unloaded at the Long Beach Port in Los Angeles, on February 16, 2019. Countries need to cooperate to overcome their differences instead of resorting to retaliatory measures that hurt global growth, an international trade expert told CNBC on Friday. “The system is not perfect, but (having) no system is worse; chaos is worse and this is what we are facing today,” said Arancha Gonzalez, executive director of the International Trade Center. “It’s
Retaliation will not resolve the world’s trade conflict, expert says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: huileng tan
Keywords: news, cnbc, companies, conflict, growth, international, trade, chaos, china, gonzalez, worlds, global, resolve, needs, worse, retaliation, expert, nations


Retaliation will not resolve the world's trade conflict, expert says

Shipping containers from China and other nations are unloaded at the Long Beach Port in Los Angeles, on February 16, 2019.

Countries need to cooperate to overcome their differences instead of resorting to retaliatory measures that hurt global growth, an international trade expert told CNBC on Friday.

“The system is not perfect, but (having) no system is worse; chaos is worse and this is what we are facing today,” said Arancha Gonzalez, executive director of the International Trade Center. “It’s not between China and the U.S. Everyone needs China and everybody needs the U.S. It’s between order and chaos. ”

Speaking to CNBC at the International Finance Corporation spring meeting in Tokyo, Gonzalez urged nations to work together to overcome the challenges in the current economic climate — just like what they did 10 years ago during the Global Financial Crisis, when they kept the market open to stimulate demand.

The International Trade Center is a joint venture between the World Trade Organization and the United Nations, which supports the internationalization of small- and medium-sized enterprises.

“In chaos, everybody is going to find it very difficult to promote growth and create jobs,” said Gonzalez.

“What we are seeing is an erosion of basic principles on which our economy is based — international cooperation, open markets, rules of the game, transparency and predictability,” she said.

She urged world leaders to work together.

“Let’s do this in a cooperative manner rather than through a tit-for-tat which we’ve already seen is having damaging effects on global growth,” said Gonzalez, in reference to the trade escalation between the U.S. and China which has seen both sides slap tariffs on each other’s goods.

Instead of moving away from multilateralism, Gonzalez said, there needs to be greater integration to navigate the digital economy.

She said that both countries were looking at the trade dispute “from a very national point of view,” adding that they were “forgetting that the economic underpinnings of the digital economy is cross border, forgetting that what drives companies today … is their ability to move not just goods, but also data, people that go with it, investment,” she said.

“So all of this requires a regulatory framework and it has to be a global regulatory framework,” said Gonzalez.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: huileng tan
Keywords: news, cnbc, companies, conflict, growth, international, trade, chaos, china, gonzalez, worlds, global, resolve, needs, worse, retaliation, expert, nations


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Former UN chief: A lack of political will is holding back climate goal achievements

A lack of political will is holding the world back from achieving international climate goals, Ban Ki-moon, the former United Nations secretary general, said Thursday. Ban said he urged political leaders to think as globally as possible. “We are now seeing many national leaders, but we don’t see many global leaders…(but) all the changes we are now seeing are global, requiring global solutions,” Ban told CNBC at the Ecosperity Conference in Singapore. “It’s a very serious phenomenon that will c


A lack of political will is holding the world back from achieving international climate goals, Ban Ki-moon, the former United Nations secretary general, said Thursday. Ban said he urged political leaders to think as globally as possible. “We are now seeing many national leaders, but we don’t see many global leaders…(but) all the changes we are now seeing are global, requiring global solutions,” Ban told CNBC at the Ecosperity Conference in Singapore. “It’s a very serious phenomenon that will c
Former UN chief: A lack of political will is holding back climate goal achievements Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: huileng tan
Keywords: news, cnbc, companies, united, achievements, world, seeing, chief, ban, president, trump, lack, political, goal, leaders, global, holding, climate


Former UN chief: A lack of political will is holding back climate goal achievements

A lack of political will is holding the world back from achieving international climate goals, Ban Ki-moon, the former United Nations secretary general, said Thursday.

Ban said he is “deeply concerned” by the 2017 decision of President Donald Trump’s administration to pull the U.S. out of the Paris climate deal, but he was hopeful that the country will reconsider its decision after Trump steps down.

“I am convinced that — whenever it may happen — after President Trump leaves the White House, I’m sure that his successor will have to come back and join this Paris climate agreement if they really want to demonstrate their global leadership,” said Ban, who is now president and chair at the Global Green Growth Institute, an inter-governmental organization.

Ban said he urged political leaders to think as globally as possible.

“We are now seeing many national leaders, but we don’t see many global leaders…(but) all the changes we are now seeing are global, requiring global solutions,” Ban told CNBC at the Ecosperity Conference in Singapore.

On the issue of multilateral cooperation, Ban said he was “deeply concerned.”

“It’s a very serious phenomenon that will cause (the) breaking down (of) all this unity and solidarity among world leaders particularly political leaders,” he said.

Even though there are conflicts now and then, international organizations such as the UN have prevented their escalation through mediation, peacekeeping operations and political negotiation, he said.

“I sincerely hope that those countries, particularly the United States and the European Union, who benefited most from this multinationalism should stand at the front and at the center to lead multilateralism, ” said Ban.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: huileng tan
Keywords: news, cnbc, companies, united, achievements, world, seeing, chief, ban, president, trump, lack, political, goal, leaders, global, holding, climate


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

A private survey shows China’s manufacturing activity for May was slightly higher than expected

A private survey of China’s factory sector showed on Monday that manufacturing activity was slightly better than expected in May. The PMI reading for April was 50.2. Last week, China’s official manufacturing PMI for May came in at 49.4, lower than the 49.9 economists polled by Reuters had forecast. “The stronger rise in overall new business supported a renewed expansion in buying activity among Chinese manufacturing firms. The official PMI survey typically polls a large proportion of big busines


A private survey of China’s factory sector showed on Monday that manufacturing activity was slightly better than expected in May. The PMI reading for April was 50.2. Last week, China’s official manufacturing PMI for May came in at 49.4, lower than the 49.9 economists polled by Reuters had forecast. “The stronger rise in overall new business supported a renewed expansion in buying activity among Chinese manufacturing firms. The official PMI survey typically polls a large proportion of big busines
A private survey shows China’s manufacturing activity for May was slightly higher than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: yen nee lee huileng tan, yen nee lee, huileng tan
Keywords: news, cnbc, companies, reading, manufacturing, private, expected, chinese, slightly, activity, chinas, shows, pmi, indicator, survey, data, economic, higher, official


A private survey shows China's manufacturing activity for May was slightly higher than expected

A private survey of China’s factory sector showed on Monday that manufacturing activity was slightly better than expected in May.

The Caixin/Markit factory Purchasing Managers’ Index for May was 50.2. Analysts polled by Reuters had expected the indicator to come in at 50. The PMI reading for April was 50.2.

PMI readings above 50 indicate expansion, while those below that signal contraction.

Last week, China’s official manufacturing PMI for May came in at 49.4, lower than the 49.9 economists polled by Reuters had forecast. It was lower than April’s reading of 50.1. The official non-manufacturing PMI for May was 54.3 — unchanged from April.

Growth of new orders grew in May, and the rate of new business growth quickened slightly in the last month, Caixin said in a statement on Monday.

“The stronger rise in overall new business supported a renewed expansion in buying activity among Chinese manufacturing firms. Though only slight, it was the first time that purchasing activity had increased for five months,” the statement added.

Despite the steady reading that was still in expansionary territory, business confidence slipped to the lowest level since the survey series began in April 2012.

That was “amid concerns of an escalating China-US trade war and forecasts of relatively subdued global demand,” the satement added.

Analysts had warned that the official PMI data show that growth in China remains under pressure, despite earlier optimism that Chinese officials managed to stabilize the world’s second-largest economy.

Before the release of the Caixin indicator, an economist from Mizuho Bank said the data “will not supplant the overall sense of economic pessimism” even if it turns out “unexpectedly resilient.”

“Our best guess is that despondency will build up around China’s growth/exports expectations, spilling over more widely to the rest of Asia/Australia, in the near-term,” Vishnu Varathan, Mizuho’s head of economics and strategy, wrote in a Monday morning note.

“What’s more, the wider strategic tech war playing out with Huawei (and related suppliers and advanced Chinese tech companies) also creates a chill around the outlook for not only for exports, but for wider commercial activity as well,” he added.

The PMI is a survey of businesses about the operating environment. Such data offer a first glimpse into what’s happening in an economy, as they are usually among the first major economic indicators released each month.

For China, the PMI is among economic indicators that investors globally watch closely for signs of trouble amid domestic headwinds and the ongoing U.S.-China trade dispute.

The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. A separate survey, the Caixin indicator, features a bigger mix of small- and medium-sized firms.


Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: yen nee lee huileng tan, yen nee lee, huileng tan
Keywords: news, cnbc, companies, reading, manufacturing, private, expected, chinese, slightly, activity, chinas, shows, pmi, indicator, survey, data, economic, higher, official


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump says he expects trade gap with Japan to be ‘straightened out rapidly’

U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August. “We’ll get the balance of trade, I think, straightened out rapidly.” According to the U.S. Trade Representative, the U.S. had a deficit of $56.8 billion in goods and services with Japan in 2018. But earlier in Mar, Trump delayed a decision on car levies for up to six months and directed U.S. Trade Representative Robert Ligh


U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August. “We’ll get the balance of trade, I think, straightened out rapidly.” According to the U.S. Trade Representative, the U.S. had a deficit of $56.8 billion in goods and services with Japan in 2018. But earlier in Mar, Trump delayed a decision on car levies for up to six months and directed U.S. Trade Representative Robert Ligh
Trump says he expects trade gap with Japan to be ‘straightened out rapidly’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: huileng tan
Keywords: news, cnbc, companies, gap, president, straightened, visit, japanese, trump, expects, japan, trade, progress, think, representative, rapidly, united


Trump says he expects trade gap with Japan to be 'straightened out rapidly'

U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August.

Trump was speaking ahead of his meeting with Japanese Prime Minister Shinzo Abe in Tokyo, as the American president embarked on a state visit amid looming trade issues between the two countries.

“Trade-wise, I think we’ll be announcing some things, probably in August that will be very good for both countries,” Trump said, according to Reuters. “We’ll get the balance of trade, I think, straightened out rapidly.”

According to the U.S. Trade Representative, the U.S. had a deficit of $56.8 billion in goods and services with Japan in 2018.

The president’s state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.

But earlier in Mar, Trump delayed a decision on car levies for up to six months and directed U.S. Trade Representative Robert Lighthizer to seek trade agreements with Tokyo and Brussels.

Still, the president ratcheted up pressure on Japan the first day he arrived, saying on Saturday that “Japan has had a substantial advantage for many, many years. ” He also called on Japanese businesses to invest more in the United States.

“President Trump … would like to claim credit for some progress on trade — whether it’s agriculture or products or automobiles, but he can wait because his election isn’t till November next year, ” said Glen Fukushima, former deputy assistant of United States Trade Representative for Japan and China during Ronald Reagan’s administration told CNBC on Monday.

Trump had previously said he did not expect major progress until July, when Abe’s ruling bloc faces an election for parliament’s upper house.

“Trump and Abe have established a good relationship. Both have been relying on each other to help them domestically,” said Fukushima, who is now senior fellow at the Center for American Progress think tank.


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: huileng tan
Keywords: news, cnbc, companies, gap, president, straightened, visit, japanese, trump, expects, japan, trade, progress, think, representative, rapidly, united


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post