China's August grain imports slide on Sino-US trade war
9/23/2018, 7:47:13 AMAsia-focused English-language publication that brings you insights about business, finance, economic and political news, comments and analysis for Asia, by Asia on asia.nikkei.com ✔ Shipments were also down from July's 220,000 tonnes ✔ He declined to be identified as he is not allowed to talk with media ✔ China also bought 330,000 tonnes of corn in August, down 13.5 percent from 377,518 tonnes a year ago ✔ Try 3 months for $9 Offer ends September 30th
A long trade war will leave the world feeling its piggy bank was robbed
9/23/2018, 6:17:45 AMDon’t be fooled by China’s as-yet muted response: a decades-long battle with the US over tariffs is a real, and scary, possibility ✔ Kenya, initially keen on a free-trade agreement with China, pulled out earlier this year, saying the terms of the agreement would have crushed its fledgling manufacturing and construction industries ✔ It’s possible the dispute could be truncated by the intervention of the World Trade Organisation, which has volunteered to mediate
Asian firms shuffle production around the region as China tariffs hit
9/23/2018, 7:58:04 AMSEOUL/ TOKYO--A growing number of Asian manufacturers of products ranging from memory chips to machi ✔ Toshiba Machine Co. says it plans to shift production of U.S.-bound plastic molding machines from China to Japan or Thailand in October ✔ The EEC last month took some 800 representatives of Chinese companies on a tour around the eastern industrial heartland, and the country's Board of Investment has done seven roadshows in China this year to woo investors
Japan's crude steel output edges up in August
9/22/2018, 9:32:58 PMJapan's crude steel output rose 0.9 percent in August from a year earlier to 8.81 million tons, an industry body said on Friday, reflecting a recovery in production at mills located in areas that saw torrential rain in July. Gushing water broke levees and landslides destroyed houses in west Japan… ✔ Gushing water broke levees and landslides destroyed houses in west Japan in July, killing more than 200 people in the country's worst weather disaster in 36 years ✔ Japanese steelmakers, enjoying the best market conditions in several years, have so far been able to shrug off fears of a U.S.-China trade war
Corporate America, not banks, could cause the next recession
9/23/2018, 12:00:59 PMUS companies have piled on a record-setting $6.3 trillion of debt. ✔ The collapse of Lehman Brothers: 10 years later 1 ✔ Companies with junk credit ratings are holding a record low $8 of debt for every $1 of cash, according to S&P ✔ And then there are so-called zombie companies which can't even afford interest payments, despite the strong economy and low rates
World War 3 WARNNG: China cancels Navy Chief visit to US over Trump’s sanctions
9/23/2018, 2:39:07 AMCHINA has cancelled a planned visit by its Navy commander Vice Admiral Shen Jinlong to the US after Donald Trump imposed stringent sanctions on Beijing following their military arms deal with Russia. ✔ The US State Department imposed sanctions against China’s defence procurement agency (Image: GETTY) According to People’s Daily newspaper, Foreign Ministry officials raised objections to Terry Branstad, the US Ambassador ✔ They have also berated Chinese officials for the repression of ethnic Uighurs in the region of Xinjiang, where up to one million people are being held in re-education camps
WORLD OIL CRISIS: Saudia Arabia and Russia SNUB Trump's call to boost output
9/23/2018, 1:14:02 PMOIL chiefs in Saudia Arabia and Russia have rejected Donald Trump’s calls to increase production and bring down prices as sanctions against Iran begin to affect the global markets. ✔ Saudi Energy Minister Khalid al-Falih (Image: GETTY) We in Saudi Arabia have not seen demand for any additional barrel that we did not produce ✔ The topic of the meeting will be nonproliferation of weapons of mass destruction, a broad issue that allows leaders around the horse-shoe table to raise a variety of subjects from North Korea to chemical weapons attacks in Syria and Britain ✔ Tehran has accused Washington of abusing the power of the Security Council president
China’s relentless export machine moves up the value chain
9/23/2018, 5:10:19 AMundefined ✔ At Sany Group’s factory on the outskirts of Shanghai, there is little sign of a trade war involving the world’s two biggest economies ✔ Outside 200 yellow diggers wait to be transported to a port 30 minutes’ drive away, their hydraulic arms covered in blue fabric sleeves to prevent rusting in the salty sea air ✔ There has also been technology transfer by developed-world companies and technology theft
As aid checks go out, farmers worry bailout won't be enough
9/23/2018, 12:45:56 PMWASHINGTON (AP) — Farmers across the United States will soon begin receiving government checks as part of a billion-dollar bailout to buoy growers experiencing financial strain fr ✔ WASHINGTON (AP) Farmers across the United States will soon begin receiving government checks as part of a billion-dollar bailout to buoy growers experiencing financial strain from President Donald Trump's trade disputes with China ✔ I mean, if you're a farmer you're in the business of producing a crop
OPEC, Russia rebuff Trump's call for immediate boost to oil output
9/23/2018, 2:29:17 PM✔ Higher gasoline prices for U.S. consumers could create a political headache for Republican Trump before mid-term congressional elections in November ✔ The joint OPEC/non-OPEC ministerial monitoring committee will next meet on Nov. 11 in Abu Dhabi ✔ (Additional reporting by Alex Lawler, writing by Dmitry Zhdannikov; Editing by Dale Hudson)
Some see signs of hope on N. Korea as Trump heads to U.N.
9/22/2018, 11:45:27 PMWASHINGTON--North Korea's Kim Jong Un is ✔ The president vowed to totally destroy North Korea if the U.S. was forced to defend itself or its allies against the North's nukes ✔ A day later, the North's top diplomat warned it could test explode a hydrogen bomb over the Pacific Ocean ✔ We've seen it going from bad to good and it could fairly quickly go back to the bad again
Abe may hit rocky road after not decisively winning party race
9/22/2018, 9:33:04 PMAlthough Prime Minister Shinzo Abe won the Liberal Democratic Party's leadership election, his new three-year term may not be so rosy as his rival garnered nearly half the votes, more than expected, of rank-and-file party members. Political pundits say Abe risks becoming ineffectual without having had a landslide victory because… ✔ Abe has been under fire amid suspicion government officials provided special treatment to a pair of school operators with ties to him and his wife Akie, which pushed his approval ratings down last year ✔ The United States is closely watching the gubernatorial election, which has a direct impact on bilateral relations, Toyoshima said
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