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Main Street America: An overlooked market where China trade war pessimism is growing

“The trade war between the United States and China that has roiled global stock markets and raised fears of an economic slowdown is now weighing on small businesses, according to the latest CNBC|SurveyMonkey Small Business Survey” writes unknown author for cnbc.com. One in five small-business owners do business with China, most by importing Chinese goods and services to the United States. These 20 percent of small-business owners are driving much of the pessimism regarding trade, as they are about twice as likely as everyone else (47 percent vs. 24 percent)…

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Defying Trump, US Senate advances measure to end support for Saudis in Yemen

“Eleven of Trump’s fellow Republicans joined Democrats to provide the 60 votes needed to advance the war powers resolution in the Republican-led chamber” writes unknown author for cnbc.com. In a rare break with President Donald Trump, the Senate voted on Wednesday to move ahead with a resolution to end U.S. military support for the Saudi Arabian-led coalition in the war in Yemen and lawmakers vowed to push for sanctions against the kingdom in the new year. Source: cnbc.com Share This:

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Greater China shares higher by more than 1 percent, leading Asian markets

“Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia” writes Yen Nee Lee for cnbc.com. Shares in greater China jumped by mid-day on Thursday as Asian stocks broadly built on the momentum seen on Wall Street overnight.”Calm has finally returned to markets,” analysts at Mizuho Bank wrote in a note.In Japan, the Nikkei 225 was up 1 percent and the Topix index was 0.77 percent higher. Source: cnbc.com Share This:

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Markets rally as hopes for breakthrough in US-China trade dispute rise

“Financial markets around the world have rallied amid early signs of progress in the bitter trade standoff between the US and China, as hopes rise for a breakthrough in the dispute” writes Richard Partington for theguardian.com. The gains were led by industrial firms that stand to benefit from a thawing in relations, as global markets reversed some of the losses recorded in the past month.They also warned that progress in the trade war has seemingly been made in the past, before quickly unravelling at a later date.Such a step would…

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Rouhani urges unity in face of psychological and economic war

“It was a horrible, horrible deal” reports tehrantimes.com. Speaking to a select Jewish audience on December 7 at the White House reception for Hanukkah, Trump boasted for leaving what he called “the horrible Iran nuclear” deal.President Donald Trump withdrew the U.S. unilaterally from the 2015 nuclear deal in May and ordered sanctions against Iran.Trump ditched the nuclear despite by warnings by the international community, including its Western allies. Source: tehrantimes.com Share This:

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We just got the first concrete sign of that the trade truce between Trump and Xi is working

“While the move may be largely symbolic, Trump has railed against the plan since the start of the trade war” writes Bob Bryan for businessinsider.com. Soybean exports to China accounted for around 10% of the total value of all US agricultural exports last year.Soybean exports from the US to China tanked due to President Donald Trump’s trade war.Chinese state-owned firms made a huge order of soybeans on Wednesday, according to a new report, the first concrete sign that Beijing is following through on promises made as part of the trade…

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CIA chief briefs House leaders on Khashoggi killing as Senate mulls Yemen war vote

“U.S. intelligence officials have concluded that the crown prince must have at least known of the plot, but Trump has been reluctant to pin the blame” writes Mary Clare Jalonick for sun-sentinel.com. But a smaller group of senators leaving a separate briefing with Haspel days later said there was “zero chance” the crown prince wasn’t involved.Pompeo and Mattis briefed the Senate last month and told senators there was “no direct reporting” and “no smoking gun” to connect Saudi crown prince Mohammed bin Salman to Khashoggi’s death. Source: sun-sentinel.com Share This:

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China looks like it’s going to give Trump a huge symbolic trade war win, fueling hope for a big deal

“According to the Wall Street Journal, Beijing is preparing to replace its Made in China 2025 plan with a new economic blueprint that would aim for increased access to China for foreign companies” writes Bob Bryan for businessinsider.com. The Chinese government is reportedly going to put on ice its well-publicized, controversial plan for economic dominance, in a move that could hand President Donald Trump a big, if symbolic, trade war victory.It’s not clear exactly the depth of these changes or if they would satisfy the Trump administration’s desire for fundamental…

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