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JD.com reports Q3 revenues of $15.09B, up 25.1% YoY, but posts $94.7M loss, says it will move its warehouse business into a separate unit to boost income

“The company also forecast fourth quarter sales growth between 18 and 23 percent, below an average analyst estimate of 23.5 percent” writes Min Read for reuters.com. JD.com said revenue totaled 104.8 billion yuan ($15.09 billion) for the quarter ended Sept. 30, missing an average estimate of 106.2 billion yuan from 22 analysts, according to IBES data from Refinitiv.This year, it sold 158.9 billion yuan in goods during the month-long event, up 17 percent form a year earlier.On Monday executives said slower sales in its core e-commerce business, particularly big ticket…

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Contrary to popular belief, China’s dystopian ‘social credit’ system does not dictate every aspect of human life — at least not yet

“However, the social credit system does not itself produce scores, grades, or assessments of “good” or “bad” social credit” writes Jamie Horsley for businessinsider.com. It’s true that, building on earlier initiatives, China’s State Council published a road map in 2014 to establish a far-reaching “social credit” system by 2020.The PBOC’s Credit Reference Center, like licensed private credit reporting agencies, does offer financial credit scores (xinyong pingfen).China’s party-state is collecting a vast amount of information on its citizens, and its social credit system and other developments internally and overseas raise many serious concerns.China’s credit reporting system, whose financial reports comprise…

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Disney’s Fox deal gets China’s approval: CNBC

“A screen shows the trading info for The Walt Disney Company company on the floor of the NYSE in New York Thomson Reuters (Reuters) – Walt Disney Co on Monday received unconditional approval from China for its deal to buy Twenty-First Century Fox’s entertainment assets, CNBC reported” reports businessinsider.com. Disney agreed to purchase Fox’s film and television assets for $71.3 billion and received approval from European Commission earlier this month, subject to certain conditions. Source: businessinsider.com Share This:

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‘We will never have a deal’: China’s former top trade negotiator warns Beijing is hurting itself in Trump tariff battle

“In particular, Long singled out China’s approach to tariffs on soybeans, one of the areas hardest hit by the trade war so far” writes Will Martin for businessinsider.com. China’s former chief trade negotiator has hit out at his country’s handling of rising trade tensions with the US, saying that Beijing is failing to think “deeply enough” about its approach to the conflict. Source: businessinsider.com Share This:

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U.S.’s Overt Payback for China’s Covert Espionage

“The U.S. counterattack, in part, seems to be a public revelation of just how and why Beijing is stealing America’s secrets — overt payback for covert espionage” reports realclearpolitics.com. To combat Chinese spying and hacking, U.S. intelligence agencies are increasingly sharing with the Justice Department revelatory information about Chinese operations.That pledge followed an indictment the previous year that revealed an elaborate plot by Chinese military hackers to steal U.S. commercial secrets.The indictment notes that the Chinese government had identified DRAM as “a national economic priority” that Beijing was determined to…

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Experts cast doubt on whether China’s news anchor is really A.I. 

“Over the past week, the “world’s first” artificial intelligence (AI) news anchor has gone viral online, a robot version of a presenter at China’s state Xinhua News Agency” writes Lucy Handley for cnbc.com. “The use of the term AI is a little bit tricky in this context, because the anchor itself is not intelligent, it doesn’t have any intelligence … Source: cnbc.com Share This:

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China’s stay-at-home shoppers propel luxury sales: Bain

“In China, luxury sales at constant currencies are on course to grow 20 percent in 2018 from 2017, but momentum has been weaker in Europe and the United States, where luxury goods sales are forecast to expand 3 percent and 5 percent respectively” reports businessinsider.com. From around a third of the market now, those younger shoppers are forecast to account for some 55 percent of revenues by 2025. Source: businessinsider.com Share This:

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Trump won’t win his trade war by heaping more demands on China

“But if Trump sticks to the demands outlined by Vice President Mike Pence, there will be no deal in Argentina, just more tariffs and a trade war stalemate” reports washingtonexaminer.com. These demands also play into the narrative that what Trump wants is not just better trade but also the containment of China’s power.The G20 summit in Buenos Aires is supposed to be the venue for a high-stakes agreement between President Trump and Chinese President Xi Jinping. In short, Trump cannot get China to an agreement by simply heaving more and…

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A bipartisan group of senators wants the Trump administration to punish China’s repression of an ethnic Muslim minority and has introduced legislation to impose new sanctions on Chinese officials.

“Bob Menendez, D-N.J., led 15 other senators on a bill to sanction Chinese Communist Party officials responsible for human rights abuses in the Xinjiang Uighur Autonomous Region” reports washingtonexaminer.com. A bipartisan group of senators wants the Trump administration to punish China’s repression of an ethnic Muslim minority and has introduced legislation to impose new sanctions on Chinese officials. Source: washingtonexaminer.com Share This:

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Markets News Stocks 

Data Sheet—Growing Dangers to Stocks From the U.S.-China Trade Conflict

“In Hong Kong Tuesday, the South China Morning Post reported that Liu He had reinstated a scuttled plan to visit the U.S. for trade talks” writes Aaron Pressman for fortune.com. Alibaba executives hailed that result as proof that China’s economy is doing just fine, thank you, and that its consumers don’t care about the escalating U.S.-China trade war.Adding to the uncertainty: Trump’s own economic advisers remain deeply divided about the value of a trade truce. Source: fortune.com Share This:

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