Russia’s Ministry of Economic Development said on Thursday that Moscow and Beijing are working on an inter-governmental agreement to boost the use of the ruble and yuan in mutual trade settlements. “The document is currently being prepared, the process is not easy,” said Deputy Minister of Russia’s Economic Development Sergey Gorkov, as quoted by TASS.
Although the Chinese government has not yet gone so far in the ever-escalating trade war as to sanction United States oil, imports are drying up anyway as Chinese buyers shy away from US crude. According to US Census Bureau data released last week, for the first time since 2016, China has halted purchases of US crude, importing […]
As China develops cutting-edge deep-sea surveillance, the nation’s navy is concurrently designing a satellite-mounted laser to locate and destroy enemy submarines. The satellite, which will be able to spot targets 500 meters below the surface, would also be used to gather data on the world’s oceans, the South China Morning Post (SCMP) reported Monday.
China has sold $3 billion of sovereign dollar bonds. This is only the third such move by Beijing in the last 14 years, and the first involving bonds with a 30-year maturity. China sold $1.5 billion of five-year bonds at 3.25 percent, $1 billion of 10-year bonds at 3.5 percent, and $500 million of 30-year […]
The Trump administration has shot itself in the foot by tightening the screws in the US-China tariff war: Beijing is turning its back on American liquefied natural gas (LNG) in response to Washington’s third round of tariffs. The move is especially painful for the US, as it had projected to jump on the bandwagon of […]
The months-long tit-for-tat between Beijing and Washington hasn’t yet shown any signs of stopping, but has, conversely, grown more intense in light of both trade issues with regard to tariffed imports, and an array of military-related moves, such as arms sales to Taiwan and China’s military deals with Russia.
Trade relations between the two countries have gone into a downward spiral of quid pro quo, with Washington slapping Beijing with new tariffs on $200 billion of imported Chinese goods in late September, while China hit back with levies on $60 billion of US products.
The White House has stepped up its showdown with China, casting it as the new top bogeyman, with Mike Pence declaring that the notorious Russian interference and meddling ‘pales’ in comparison to Beijing’s influence in US affairs. China is increasingly assuming the role of number one villain for the White House administration, ahead of the […]
America’s second-largest oil client, China, has completely stopped buying crude from the United States as trade tensions between the world’s two largest economies continue to grow. While oil has not been included on the list of bilateral tariffs, Chinese refiners have been staying away from buying crude from the US.
Recent provocations in the South China Sea follow rising tensions between the US and China, but with rivalry expanding into the economic and political spheres, it seems Beijing is now encroaching on Russia’s top-villain status.
The practice of using “unwritten” rules has been in existence for years in China, making the entry into the country’s market more difficult for foreign firms. With the unfolding trade between Beijing and Washington these rules may be weaponized, warns a think tank.
With the trade war between two world’s largest economies gaining momentum, there is a genuine risk that all Chinese goods imported by the US will be slammed with new tariffs, being a part of “administration-wide” broadside against China.
China denied a request from the US Navy’s USS Wasp F-35 carrier to make a port call in Hong Kong amid trade tensions between the superpowers and Beijing’s recent decision to recall an admiral from participating in the International Seapower Symposium in Rhode Island.
In a speech to the United Nations Security Council, President Trump blamed China for meddling in US elections. On Twitter, the #resistance is furious he didn’t name the old boogeyman: Russia.
One of the world’s longest gas pipelines – the Power of Siberia – which is being created to deliver natural gas from Russia to China, is almost complete. The sides are now getting ready to ink a contract on another major pipeline. Agreement on the Power of Siberia 2 or the ‘Western Route’ for the […]