Russia and China took another step away from the US dollar after the two countries agreed to develop bilateral trade using the ruble and the yuan. It was just one of the major deals reached after the presidents of the two countries, Vladimir Putin and Xi Jinping, held talks in Moscow on Wednesday.
The worsening trade conflict between the world’s two largest economies, the United States and China, could send the global economy into recession within three fiscal quarters, research by investment bank Morgan Stanley has found.
China has managed to outperform the US and the UK in a German ranking of the world’s most reliable trade partners, compiled from the latest survey of 2,000 German companies by Frankfurt-based Commerzbank.
The Commerce Ministry of China has pledged to create a list of foreign individuals, corporations and institutions that are considered “unreliable” or that violate the interests of Chinese businesses, state media reports.
China’s tariffs targeting $60 billion of American imports have taken effect as part of a tit-for-tat response to Washington’s trade war which saw Beijing slapped with extra levies on $200 billion worth of exports back in May.
US Secretary of State Mike Pompeo doubled down on vilification of Сhinese telecoms giant Huawei as “an instrument of government” suggesting that the company was a national security threat by acting as an agent for Beijing.
China’s Foreign Minister Wang Yi said that Beijing will take all necessary measures to defend the rights and interests of Chinese companies. Sputnik talked about Huawei’s lawsuit against the US government with Andrew Leung, an independent China strategist based in Hong Kong.
A growing number of former Apple devotees in China have started switching from iPhones to domestic Huawei smartphones as trade and technology tensions escalate between Washington and Beijing. The South China Morning Post reported that consumers were spurred by a rising “nationalist sentiment” to support the Chinese tech giant which has been blacklisted by the US.
Despite the trade war against China and numerous import tariffs imposed on a number of countries, the US trade deficit hit a 10-year high of $621 billion last year, the US Commerce Department reported.
The US has underestimated the consequences of the attack on Chinese telecom giant Huawei as it sends a strong signal for the rest of the world to avoid dealing with such an unstable partner, professor Richard Wolff believes.
As Wall Street reels from the shock of a trade war exploding to new heights in the form of tariffs and counter tariffs, there’s another reality that is setting in — that China seems happy to walk away from trade talks.
The lull in the US-China trade war amid new flaring tensions over the arrest of Huawei finance chief can only backfire at Washington as Beijing holds a trump card, veteran stockbroker Peter Schiff has warned.
After US President Donald Trump said on Sunday that the US will hike tariffs on goods imported from China, Wall Street will start the week with a sharp selloff, as investor optimism about the possible conclusion of a trade deal with China in the near future has faded.
The Russian economy has enjoyed increased Chinese investment as Western sanctions have pushed Beijing closer to Moscow, according to a report released by the US Department of Defense. Despite the 136-page document dedicated to China’s armed forces and Washington’s concerns over Beijing’s growing clout, including its economic strength, the US military did not forget to […]
The Chinese military is winning the conventional missile arms race, particularly for anti-ship missiles, and US commanders are frantically trying to come up with alternative strategies before US aircraft carriers become obsolete.