Monday, 24 September, 2018

Wait and see on China trade

The limits of the current ‘reset’ exercise have been borne out by the events that have transpired in recent weeks. Illustration Jayachandran  Mint The limits of the current ‘reset’ exercise have been borne out by the events that have transpired in recent weeks. Illustration Jayachandran Mint
Kenny Thornton | 17 April, 2018, 17:54

However, Xuzhou, an industrial city in eastern China's province of Jiangsu, was also on the list of the 10 smoggiest cities in March and during the first quarter, a sign that China's smog is shifting from its northern heartlands as a result of the crackdown.

Heisdorffer, who farms in Keota, Iowa, highlighted the importance of maintaining China as a robust market for US soybean exports, and the lasting effects implemented tariffs and a trade war would have on soybean farmers.

March import growth of 14.4 percent beat expectations, however, suggesting China's domestic demand may still be solid enough to cushion the blow from any trade shocks. That left China with a rare trade deficit for the month, also the first drop since last February.

Although the trade dispute between the United States and China seems to mainly concern Midwest farmers and workers, who disproportionately voted for Donald Trump in 2016 elections, California and the West Coast could have lost the most, a latest report has warned.

The world's second largest economy is expected to have grown 6.7 per cent in the January to March period, down from 6.8 per cent in the fourth quarter of a year ago, according to the poll of 13 economists ahead of the release of official figures on Tuesday.

- The manufacturing purchasing managers' index (PMI) came in at 51.5 in March, the strongest level this year.

Dongguan's economic growth of 8.1 per cent previous year while robust, does not fully reflect its long struggle to upgrade rusting factories and catch up with the likes of neighbouring technology powerhouse Shenzhen.

Still, while no hard timeline has been set by either Washington or Beijing for the actual imposition of tariffs, analysts said China's exporters may already be adapting their strategies as punitive trade measures loom.

China's navy announced on Thursday it will be holding a live-fire drill in the Taiwan Strait on Wednesday, the first such exercise in over 20 years.

Russian Federation behind global cyber attack: U.S. and UK
The main advice offered to companies and individuals was to make sure router software was up to date and passwords were secure. When asked if further action would be taken, he said: "The most important thing at this point is to attribute it".

"In recent years, Chinese economic growth held steady at a medium-high rate to become an indispensable engine and anchor for the world economic recovery and sustainable development", the NBS said in a statement. Its surplus with the USA rose 19.4 percent on-year to $58 billion in January-March, with exports up 14.8 percent and imports 8.9 percent higher.

China's total aluminium exports in March rose to their highest since June, just as the United States imposed tariffs on imports of the metal and steel on March 23.

China is now working on a new 2018-2020 action plan to tackle pollution, and experts have urged the government to introduce more targeted measures to tackle rising ground-level ozone, which has become a growing urban health threat. But the solid global growth outlook may provide some buffer. "But this is actually marred and disrupted by some unseemly protectionist noises that are coming out of the Atlantic basin, North America, and Europe", Kumar said in an oblique reference to China. "I like (him) very much - I think he actually likes me very much also, believe it or not - but he is for China; Im for US". Shipments of copper, crude oil, iron ore and soybeans all rose from the previous month.

State broadcaster China Central Television showed footage of Xi boarding the destroyer Changsha and navigating to an unspecified location in the South China Sea and reviewing the naval maneuver.

"(China) wants to highlight that the Chinese navy is ever ready and secondly, it is a signal to the government in Taipei you better not go further", Collin Koh, research fellow at the S. Rajaratnam School of International Studies' Maritime Security Program, told CNN.

"This year, we will considerably reduce auto import tariffs, and at the same time reduce import tariffs on some other products", Xi said.

Nevertheless, the news from Beijing was good this week.

Under a so-called harmonised system of tariffs - Chinese products are now coded specifically so that the same product would face higher United States tariffs if used in a higher-tech sector like nuclear energy, rather than a more generic category like household electronics.

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