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China’s tariffs on U.S. oil would disrupt $1 billion monthly business

“To view a graphic on U.S. crude oil exports to China, click: https://reut.rs/2ymEr7m China’s aggressive riposte to Trump took some in the industry by surprise” writes Midwest Communications Inc for 95kqds.com. “The OPEC/non-OPEC cartel is the big beneficiary of all this oil diplomacy, as it will squeeze global spare oil capacity and likely push up crude prices.”. China said Friday it would retaliate by slapping duties on several American commodities, including oil.Investors expect the spat to come at the expense of U.S. oil firms, pulling down the share prices of…

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China’s Official News Media Sharply Criticize Trump

“The Trump administration obstinately persists in playing the inglorious role of global economic agitator” reports nytimes.com. With economic globalization there are no secluded and isolated islands.This exposes the Trump administration’s outmoded views on globalization and trade liberalization.In the eyes of America, the rules of international trade are like a gorgeous coat.Recently, America is brandishing the trade war big stick, smacking other countries at will. Source: nytimes.com Share This:

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This was not the dream for U.S.-China trade

“Trade with China has always been about more than just trade” writes Steven Mufson Covers for washingtonpost.com. China’s economy has grown stronger, and a sense of strategic rivalry has cast a pall over relations.Policy experts and business executives across the political spectrum applaud confronting China on trade, but few believe Trump can follow through. Source: washingtonpost.com Share This:

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China retaliates after U.S. announces $50 billion in tariffs, escalating trade war

“The United States last year ran up a $375 billion deficit in goods trade with China, a figure the president blames on Chinese trade barriers” writes Emily Rauhala Is for washingtonpost.com. Pompeo said the U.S. trade deficit with China is still too high, and Wang called for Washington to make a “wise choice” on tariffs.A trade war could take it away.] “This is not market capitalism,” the official said, speaking anonymously to brief reporters. “These are state policies where they are targeting certain industries.” Trump’s complaints about China’s trade practices…

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Qualcomm’s $44 bn NXP Semiconductors acquisition is still awaiting China’s approval

“But Reuters sources, who are close to the Qualcomm-NXP deal, said they were not aware of any Chinese approval” reports firstpost.com. Chinese clearance would remove a long-running roadblock to the deal that has become entangled with broader trade tensions between the United States and China.However, trade talks remain in the balance with US President Donald Trump expected to unveil “pretty significant” tariffs on Chinese goods on 15 June.The acquisition has already got a nod from eight of the nine required global regulators, with China being the only hold-out. Source: firstpost.com Share…

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Trump looks set to go ahead with tariffs on China — ignoring Beijing’s influence on North Korea

“China’s cooperation is critical in pushing North Korea to give up its nuclear and missile programs, but that’s not likely to stop U.S. President Donald Trump from pressing ahead with additional tariffs on Chinese products” writes Yen Nee Lee for cnbc.com. In addition, “a whole of bunch of stars” have aligned to allow Trump to go ahead with tariffs against China without severe political and economic consequences, said Scott Kennedy from the Center for Strategic and International Studies. Source: cnbc.com Share This:

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China Holds Fire on Rates, Posts ‘Shockingly Weak’ Activity Growth

“Property investment growth eased in May, but a construction boom which began in 2016 may still be going strong” writes Kevin Yao for reuters.com. But the writing is on the wall for slower activity in coming months after data early this week showed overall credit growth cooled.China is walking more of a tightrope than markets believe – and the data underline that issue clearly,” they said.Private sector investment, which accounts for about 60 percent of overall investment in China, also cooled. Source: reuters.com Share This:

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Property agents abandon China’s resort island as sales plunge on cooling measures

“Property agents in the resort island are now packing their bags as they seek greener pastures in other provinces” reports businessinsider.com. “A free trade zone provides good prospects to the long-term economy so our clients are very positive about it,” said Andy Lee, chief executive with Centaline South China, a realtor. Source: businessinsider.com Share This:

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Investors wipe $3 billion off China’s ZTE as U.S. settlement sinks in

“The Hong Kong-listed shares of ZTE slid as much as 41 percent to HK$14.98, their lowest in a year, following a two-month trading suspension” writes Midwest Communications Inc for 95kqds.com. ZTE, with a market value of about $20 billion before its shares were suspended in April, is the world’s No.4 telecom equipment maker after Huawei Technologies [HWT.UL], Ericsson.  Source: 95kqds.com Share This:

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China’s ZTE to resume trading after $1.4 billion U.S. settlement

“HONG KONG (Reuters) – ZTE Corp said trading in its shares would resume on Wednesday, ending a two-month suspension, after the Chinese telecommunications giant agreed to pay up to $1.4 billion in penalties to the U.S. government and radically overhaul its management” writes Midwest Communications Inc for 95kqds.com. China’s No. 2 telecommunications equipment maker was crippled when a seven-year ban was imposed on the company in April for breaking a 2017 agreement reached after it was caught illegally trading with Iran and North Korea. Source: 95kqds.com Share This:

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