Here comes the 30-year trade war
9/26/2018, 10:57:11 AMAlibaba’s Jack Ma has warned that the ongoing US-China trade war could last at least 20 years. As we’ll see, it’s actually more like 30 – up to 2049, the 100th anniversary of the foundation of the People’s Republic of China (PRC). Steve Bannon always boasted that President Trump was bound to conduct a “sophisticated form of economic warfare” to confront China. The logic underpinning the warfare is that if you squeeze the Chinese economy hard enough Beijing will submit and “play by the rules.” ✔ After all socialism with Chinese characteristics, as codified by Deng Xiaoping and renewed by Xi Jinping, excels in exploiting and bypassing internal contradictions ✔ A flimsy developed strategy by the Quad (US, India, Japan, Australia) has no potential to derail BRI’s reach, complexity, wealth of capital and human resources
Global trade war could hit U.S. hardest: ECB study
9/26/2018, 10:20:12 AMundefined ✔ An economy imposing a tariff which prompts retaliation by other countries is clearly worse off, the researchers conclude ✔ Under the same scenario, China's economy would grow slightly faster in the first year, according to the ECB ✔ Write to Tom Fairless at tom.fairless@wsj.com We Want to Hear from You Join the conversation Comment
ECB warns US most at risk from trade war escalation
9/26/2018, 10:10:31 AMundefined ✔ An escalation of the global trade war to engulf the US and all its major trading partners would hurt America much more than the rest of the world, economists at the European Central Bank have warned ✔ The current projections do not reflect measures that have been announced, measures that have been threatened, he said on 13 September
Trump's Asian tech tycoon pals feel strains of trade war
9/26/2018, 10:18:47 AMUS confrontation with China rattles plans of SoftBank, Foxconn and Alibaba ✔ This came less than a month after Ma had told a U.S. television interviewer that Trump deserved more time ✔ CFIUS also has yet to sign off on Son's top priority deal, the $26.5 billion merger of SoftBank-owned mobile network operator Sprint with rival T-Mobile ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
China announces fresh import tariff cuts amid brewing trade war
9/26/2018, 11:13:45 AMChina's state cabinet said on Wednesday the government will cut import tari... ✔ BEIJING (Reuters) - China’s state cabinet said on Wednesday the government will cut import tariffs for products including machinery, electrical equipment and textile products beginning on Nov. 1, as the country braces for an escalating trade war with the United States ✔ Shipping containers are seen at a port in Lianyungang, Jiangsu province, China September 8, 2018 ✔ Our Standards:The Thomson Reuters Trust Principles
Report: Long trade war would hurt US more than China
9/26/2018, 8:36:56 AMEconomists at the European Central Bank simulated a wide-ranging global trade war and found it would cost the United States significant amounts of growth, while China might not be hit so badly. ✔ They ran a scenario in which the United States slaps a 10 percent tariff on all imports and all trade partners respond in kind ✔ The authors Allan Gloe Dizioli and Bjoern van Roye noted in their paper that such indirect effects are difficult to estimate
Against trade war, Fed backdrop China sets positive world equity tone
9/26/2018, 9:20:48 AMA Chinese equity bounce set a modestly positive tone for world stocks on Wednesd... ✔ REUTERS/Kim Kyung-Hoon Fed funds rates futures <0#FF:> implied traders are fully pricing in a rate hike on Wednesday, plus an 85 percent chance of another rise in December ✔ That expectation was cemented after data showing U.S. consumer confidence hit an 18-year high ✔ Our Standards:The Thomson Reuters Trust Principles
Crop chop: China shuns U.S. soybeans amid trade war, turns to Brazil
9/26/2018, 8:12:05 AMs soybean processors are snapping up Brazilian cargoes for shipment in the fourt... ✔ The government’s signal on this is clear - do not buy U.S. beans, said a senior analyst with a major futures brokerage in China ✔ soybean sales to China sharply below 10-year average' click tmsnrt.rs/2xEH7dw) Our Standards:The Thomson Reuters Trust Principles
U.S. has most to lose from trade war, China would benefit: ECB
9/26/2018, 8:26:51 AMThe United States would have most to lose if it started a trade war with other c... ✔ The International Monetary Fund currently expects the U.S. economy to expand by 2.9 percent this year and 2.7 percent the next ✔ By contrast, China would gain by exporting more to third countries where U.S. goods are subject to tariffs, although that slight gain would be temporary and partly offset by a negative effect on confidence ✔ Our Standards:The Thomson Reuters Trust Principles
China just took a major backward step in its trade war with the US
9/26/2018, 11:32:33 AMChina said that it will cut import tariffs on numerous non-US goods, in a move most likely designed to protect Chinese customers against the escalating conflict with the Trump administration. ✔ The cuts in tariffs are expected to save Chinese consumers and businesses something in the order of 60 billion yuan ($8.7 billion), according to Reuters, which cites Chinese state radio ✔ Both sides have said they are willing to impose further tariffs, with President Trump frequently indicating a willingness to tax all $505 billion of Chinese goods flowing into the US
Trump doesn't realize the impact trade war could have on his voters, asset manager warns
9/26/2018, 8:23:50 AMThe prime victim of the sparring of tariffs between the U.S., China and others will be consumers, because prices will likely go up, an AllianceBernstein investment chief said. ✔ Don't think US administration realizes the impact of tariffs: Expert 1 Hour Ago | 02:48 President Donald Trump's administration is failing to recognize the negative effect America's trade dispute with China and other countries will have on his voters, an investment chief told CNBC ✔ Phelps said, adding: That's what we're trying to do, you're trying to think through those long-term effects, and it's very hard to be categoric yet about this
Malaysia, Singapore shares tad higher ahead of Fed meeting
9/26/2018, 11:42:00 AMCaution remains high as Sino-American trade worries linger ✔ We see less room for further multiple expansion, said Seth, citing poor corporate results and weak earnings growth expectations ✔ - Alexander Winifred and Joannah Perez Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Chinese stocks in Hong Kong jump as MSCI stokes inflow hopes
9/26/2018, 10:13:16 AMEnergy producers jump on oil price increase, while Haidilao gains on debut ✔ In the mainland, the Shanghai Composite added 0.9% ✔ Shares of Haidilao International Holding closed at HK$17.82 compared with their IPO at HK$17.80 ✔ -- Benny Kung Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
3 key points to watch from the Fed on Wednesday
9/26/2018, 8:23:23 AMWhile another rate hike is nearly certain, Chairman Powell could also provide some hints about what's next ✔ The median dot -- where half are above, half below -- is closely watched for the Fed's view of where its key rate may be headed ✔ Powell, who was Mr. Trump's hand-picked choice to lead the central bank, may be asked to square the Fed's plans for further rate hikes with the president's comments
China launches guarantee fund to spur credit to small firms
9/26/2018, 8:26:54 AMChina has formally set up a national guarantee fund to encourage more lending to... ✔ The fund aims to guide more financing resources to small firms and the rural sector, the statement quoted vice finance minister Liu Wei as saying ✔ The central bank has cut reserve requirements for banks three times this year to boost liquidity, but lenders remain reluctant to lend to small and private firms ✔ Our Standards:The Thomson Reuters Trust Principles
Chinese stocks jump after MSCI looks at raising index weighting
9/26/2018, 11:46:33 AMGlobal compiler's move could see billions more dollars pour into mainland markets ✔ Morgan Asset Management emerging markets and Asia-Pacific investment specialist, noting that gradually internationalizing mainland shares presents a deep, broad, liquid and interesting investment opportunity to global investors ✔ Try 3 months for $9 Offer ends September 30th
Lenovo Got Booted From Hong Kong's Benchmark Market Index. Now It's China's Hottest Stock
9/26/2018, 11:02:29 AMDriving the rebound is a revival in global PC shipments. ✔ Driving the rebound is a revival in global PC shipments, which saw the fastest growth in six years in the three months ended June as Lenovo reported a better-than-expected net income of $77 million during the period ✔ It was a quiet stock for a few years until recently
10 things you need to know before the opening bell
9/26/2018, 11:03:54 AMThis is what traders are talking about. ✔ Deutsche Bank held internal talks about a merger with Swiss giant UBS ✔ Senior Deutsche Bank staff held talks about a tie-up with the Swiss bank UBS, and a merger with Commerzbank, Germany's second-biggest bank and a key domestic rival, the German newspaper Handelsblatt reports ✔ The US 10-year yield is down 1 basis point at 3.09%
China to boost $3.8 trillion digital economy, Xi calls for...
9/26/2018, 10:03:34 AMChina on Wednesday pledged to expand its $3.8 trillion digital economy and creat... ✔ REUTERS/Stringer China is in the midst of a long-term restructuring that has seen the decline of low-end industries and the emergence of higher-value factories that make products from robotics to drones ✔ REUTERS/Florence Lo This is not a bad thing, Xi said, as China will have to rely on itself in the end ✔ Chinese state media has accused Washington of using trade to suppress the country’s development ✔ Our Standards:The Thomson Reuters Trust Principles
Fed rate decision; Nike results; New era at Daimler
9/26/2018, 10:26:00 AMHere's what you need to know about the markets before you start your business day. ✔ Fed rates decision: The US Federal Reserve is expected to raise its benchmark interest rate by a quarter of a percentage point for the third time this year, to a range of 2% to 2.25% ✔ Zetsche won't going away, however: Shareholders will be asked to make him chairman of the carmaker's Supervisory Board starting in 2021
Electronics, drugs damp Singapore manufacturing
9/26/2018, 11:22:00 AMTrade tensions heighten likelihood of further slowdown ✔ Other key sectors also slowed, with pharmaceuticals growing by 8.7% on-year in August, down sharply from the previous month's 14.1% increase, and chemicals expanding by 5.7% compared with July's 7.6% ✔ --Kevin Lim Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Dollar rises before Fed meeting; investors eye outlook
9/26/2018, 11:46:23 AM- The dollar rose modestly on Wednesday before a widely anticipated Federal Rese... ✔ It still remained within reach of a 2 1/2-month low of 93.814 touched on Friday ✔ This year began with the dollar retreating, but a hawkish rate outlook and the U.S.-China trade dispute have made it a safe haven for investors ✔ ($1 = 6.8724 Chinese yuan renminbi) Our Standards:The Thomson Reuters Trust Principles
Senior Chinese diplomat says China, U.S. must avoid Cold War mentality
9/26/2018, 9:20:59 AMhina and the United States can compete but should not view each other with a Col... ✔ In a Wednesday editorial, the state-run China Daily said the Taiwan weapons sale would only worsen already poor ties with China ✔ Now that the Trump administration is aggressively seeking to challenge China’s interests on both the economic and military fronts, one wonders whether Washington wants to permanently damage Sino-US relations, the official English-language newspaper said ✔ Our Standards:The Thomson Reuters Trust Principles
Bullish on U.S. stocks? This chart’s for you
9/26/2018, 11:35:13 AMWe are grinding our way toward a Fed outcome. Meanwhile, our chart of the day shows why U.S. stocks have been such a good bet for investors this year. ✔ Stocks have been treading water in Europe SXXP, +0.03% but in Asia, the Shanghai Composite SHCOMP, +0.92% jumped after global index provider MSCI said it may quadruple the weight of Chinese big-caps and include some shares listed on Shenzhen’s startup exchange ChiNext 399102, +0.78% The economy It is the big day
Trump's U.N. Speech, Nuns On Guns, Daimler CEO: CEO Daily for September 26, 2018
9/26/2018, 10:44:21 AMMust-read business news, delivered every morning. ✔ Guardian Nuns On Guns Investors have forced American Outdoor Brands, makers of Smith & Wesson firearms, to consider how to reduce the risks associated with gun violence ✔ Find previous editions here, and sign up for other Fortune newsletters here
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