Reuters (November 18)
“Renowned China hawks” like Robert Lighthizer, Mike Walz and Marco Rubio “are not the names Beijing wants popping up in President-elect Donald Trump’s early cabinet appointments. Markets agree, as the yuan has fallen about 2% against the dollar since Trump’s victory at the polls.” If Trump “follows through on threats to raise American tariffs on imports from China to as much as 60%” there will be more “downward pressure.”
Tags: Appointments, Cabinet, China, Dollar, Hawks, Imports, Lighthizer, Markets, Rubio, Tariffs, Threats, Trump, Walz, Yuan
South China Morning Post (November 14)
“China’s trade with Russia is set to hit new highs this year as payment barriers have been partly addressed in recent months, but analysts warned that US president-elect Donald Trump’s return could be accompanied with more hits to bilateral trade.” Continuing financial sanctions are another potential complication to “Russia’s efforts to sell products to China.”
Tags: Analysts, Bilateral trade, China, Financial sanctions, Highs, Payment barriers, Russia, Trade, Trump, U.S.
Wall Street Journal (November 13)
“South of the border, China is ascendant,” having successfully “capitalized on U.S. indifference in Latin America.” The world’s second most populous nation has now “replaced the U.S. as the dominant trading partner for most big economies, with the exceptions of Mexico and Colombia.” Beijing has also “signed up most of Latin America and the Caribbean to an infrastructure program that excludes the U.S.”
Tags: Ascendant, Big economies, Border, Capitalized, China, Colombia, Dominant, Indifference, Latin America, Mexico, Trading partner, U.S.
The Week (November 11)
“For decades The Antarctic Treaty was ‘widely regarded as a model of effective global co-operation.’” The model, which froze territorial claims, now appears to be collapsing “as China, Russia, and other emerging nations threaten a new scramble for control of the resource-rich continent.”
Tags: Antarctic Treaty, China, Collapsing, Control, Effective, Emerging nations, Global co-operation, Resource-rich continent, Russia, Territorial claims, Threaten
South China Morning Post (November 7)
“China’s export growth hit a 27-month high in October, as exporters rushed to front-load orders in anticipation of potential heavy tariffs to be imposed by president-elect Donald Trump after his return to the White House…. Exports rose by 12.7 per cent year on year to US$309 billion in October, according to customs data released on Thursday.”
Tags: Anticipation, China, Customs data, Export growth, Exporters, Exports, Front-load orders, Heavy tariffs, October, Trump, White House
Washington Post (October 31)
“With less than a month before the annual U.N. Climate Change Conference, China is so far defying pressure to set ambitious climate targets early and to do more to help poor nations cope with the ravages of a warming world.”
Tags: Ambitious, Annual, China, Climate Change Conference, Climate targets, Cope, Defying, Poor nations, Pressure, Ravages, U.N.
FX Empire (October 26)
The IMF’s latest forecast counteracted any hope attached to China’s stimulus policy. “Markets reacted positively” when the People’s Bank of China “cut 1-year and 5-year loan prime rates (LPR) by 25 basis points” since “lower borrowing costs could drive credit demand and consumption.” In contrast, “the IMF’s latest growth projections… called for caution,” with 2024 growth forecast for China lowered from 5.0% to 4.8%.” Moreover, the IMF pointed out that “Beijing’s maneuvers may not be enough to support an economic recovery.”
Tags: 25 bp, Borrowing costs, Caution, China, Consumption, Credit demand, Economic recovery, Forecast, Growth projections, IMF, Markets, PBOC, Rates, Reacted, Stimulus
Wall Street Journal (October 18)
In his first term, “Donald Trump resurrected tariffs as a tool of economic diplomacy.” His relatively strategic use of tariffs resulted in “a world trading system with a bit more friction, but it remained largely intact.” If re-elected, Trump’s threatens to “radically remake world trade” with the blanket use of tariffs. Aside from higher prices in the U.S., “the outcome could be anything from an all-out trade war, to a new trading system among U.S. allies united by their collective frustration with China.”
Tags: China
South China Morning Post (October 6)
Amid prospects of a stimulus led recovery, China’s travel industry is facing a “reality check” as it confronts what many claim is the “‘worst ever” season. China’s travel data may paint “an optimistic picture,” but consumers “are reluctant to spend amid broader economic anxieties.” Operators are “lamenting” the “Golden Week” season with some travel businesses actually “faring worse than during the darkest days of the coronavirus pandemic.”
Tags: China, Confronts, Economic anxieties, Golden Week, Operators, Prospects, Reality check, Recovery, Spend, Stimulus, Travel industry, Worst ever
Fortune (October 3)
“The boss of German carmaker Mercedes-Benz is bracing his company for a ‘Darwinian battle’ as Europe’s auto giants reel from falling demand and the onslaught of Chinese competitors.” CEO Ola Källenius and Mercedes-Benz are at “a pivotal moment of sink or swim.” As EV uptake slows in the Europe, “a similar demand glut in China and the emergence of cheap competitors from the region has left Europe’s carmakers fighting fires at home and overseas.”
Tags: Carmaker, CEO, China, Competitors, Darwinian battle, Europe, EVs, Falling demand, Germany, Glut, Källenius, Mercedes-Benz, Onslaught
