Top trade negotiators for China and the United States agreed in their latest phone call to remain in close communication after "constructive" discussions on each other's core concerns for a phase-one deal, the Ministry of Commerce said on Sunday. Experts and business leaders said they hope the world's two largest economies will resolve their trade disagreements through dialogue, while respecting international rules. In a brief online statement, the ministry said Vice-Premier Liu He, a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side in the China-U.S. ... (full story)
Cool and calculating China is trying to build up global trade even as things fall apart around the worldadmin 2019-11-18T13:18:12+00:00
With the United States in the midst of presidential impeachment hearings, Britain locked in self-destructive Brexit combat, the European Union suffering severe internal stresses and Hong Kong seemingly melting down, economic developments have understandably taken a back seat from the viewpoint of world attention. “Things fall apart, the centre cannot hold; mere anarchy is loosed upon the world,” the Irish poet W.B. Yeats wrote in the aftermath of World War I. If he were alive today, he might lament even more loudly the collapse of global trade, investment and economic cooperation, not to mention growing civil unrest. ... (full story)
From reuters.com China’s central bank lowered on Monday the interest rate on reverse repurchase agreements by five basis points, the first reduction in the short-term liquidity tool in more than four years. The People’s Bank of China (PBOC) said on its website that it was lowering the seven-day reverse repo rate to 2.50% from 2.55%.
There are plenty of reasons for us to be doubtful of political polling ahead of the UK December 12th election. The Brexit issue has been exhaustive but are we sailing closer to a clean break ahead of the January 31 Brexit deadline? In GBP/Brexit news, political jostling supported the GBP in a sharp move higher to start this week. The Brexit party boosted the optimism around Brexit by way of a clearer pathway to a majority UK government post December 12 election – lifting GBP sharply. There is a clear absence of UK data on the calendar this week, but the [...]
Rightmove is this morning reporting a huge fall in the number of new sellers coming to the market - a drop of almost 15 per cent on this time next year. This is the largest year-on-year slump in new seller numbers in any month since August 2009. The portal makes clear where the fault lies: what it calls “the unique autumn combination” of Brexit and a General Election. Today’s market report by the portal says: “These circumstances have proved to be a negative factor for thousands of prospective sellers, who have postponed their marketing plans.” To add to the woe of [...]