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China hides its economic crisis behind a great wall of lies

“The second report indicates that China’s exports are resurging well above economic analysis” reports washingtonexaminer.com. Two CNN reports on Thursday suggest that China has good reason to play hardball with U.S. trade negotiators.Attempting to pressure U.S. companies into asking the White House to cut a China-friendly trade deal, China has been pushing its citizens to buy Huawei over Apple. Source: washingtonexaminer.com

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No Talks Between Trump and China’s Xi Before Trade Deadline

“WASHINGTON (Reuters) – U.S. President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal” writes Min Read for reuters.com. Trump said in his State of the Union address on Tuesday that any new trade deal with Beijing “must include real, structural change to end unfair trade practices.” Such reforms have been a sticking point in talks so far.Late last year during a dinner between Trump and Xi in…

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China’s love of luxury fuels L’Oreal’s strongest growth in a decade

“Strong Chinese demand for luxury products helped French cosmetics maker L’Oreal post its strongest sales growth in a decade during 2018” writes Chloe Taylor for cnbc.com. A key growth driver for L’Oreal in 2018 was new markets, including the Asia-Pacific region — where ongoing Chinese demand for luxury products saw like-for-like sales grow by 24.1 percent.Speaking to CNBC’s Julianna Tatelbaum on Friday, CEO Jean-Paul Agon said there was no reason why this level of growth would not be sustainable.We have many reasons for this strong growth like Asia, eCommerce, travel…

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China says US report on its WTO compliance lacks factual basis

“China opposes a report by the U.S. Trade Representative’s office on its World Trade Organization (WTO) compliance, the commerce ministry said, saying it is inconsistent with the facts” writes Kevin Lemarque for cnbc.com. The U.S. Trade Representative’s office used its annual report to Congress on China’s WTO compliance in part to justify its actions in a six-month trade war with Beijing aimed at forcing changes in China’s economic model. Source: cnbc.com

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U.S.’ Mnuchin, Lighthizer to hold talks next week in China: sources

“The Chinese trade delegation said in a statement that the talks had made “important progress,” China’s official Xinhua news agency reported” writes Midwest Communications Inc for 95kqds.com. Trump said he would be willing to meet with Xi to try seal a comprehensive trade deal, but Lighthizer said Trump would decide on the meeting based on progress in the talks. Source: 95kqds.com

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How to fight China’s financial abuses: Crack down on anonymous companies

“State-linked Chinese companies and individuals have also made extensive use of anonymous companies to circumvent U.S. sanctions, most notably in their dealings with North Korea” reports washingtonexaminer.com. The Chinese state-linked companies, transnational criminal organizations, and corrupt officials the U.S. now accuses of wrongdoing often rely on so-called “anonymous companies” to conceal illicit activities.Closer to home, anonymous companies are an integral part of the deadly fentanyl trade that originates in China and kills tens of thousands of Americans each year.Anonymous companies, often referred to as shell companies, are incorporated in jurisdictions…

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China’s CATL, Honda plan to co-operate on EV battery development

“TOKYO (Reuters) – Contemporary Amperex Technology Ltd and Honda Motor have signed an agreement to co-operate on jointly developing lithium ion batteries for electric vehicles, as China’s top EV battery maker expands its tie-ups with Japanese automakers” writes Midwest Communications Inc for 95kqds.com. “The agreement focuses on supply of EV batteries in Asia,” Honda spokeswoman Tomoko Takemori said, declining to give further details on which of its models would use CATL batteries. It already counts Nissan Motor Co as a customer, supplying the batteries for the battery-electric version of its…

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US trade agency says efforts to rein in China with WTO rule change will fail

“But any WTO rule changes must be agreed by all of the trade body’s 164 member countries, and past efforts have stalled” writes unknown author for cnbc.com. USTR said it is “highly unlikely” that China would agree to new disciplines targeting changes to its trade practices and economic system.The agency said the United States intends to “hold China accountable” for adhering to existing WTO rules and “any unfair and market-distorting trade practices that hurt U.S. workers, businesses, farmers or ranchers.”. “Until China transforms its approach to the economy and trade,…

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U.S. trade agency says WTO rule change efforts to rein in China will fail

“But any WTO rule changes must be agreed by all of the trade body’s 164 member countries, and past efforts have stalled” writes Midwest Communications Inc for 95kqds.com. USTR said it is “highly unlikely” that China would agree to new disciplines targeting changes to its trade practices and economic system.The agency said the United States intends to “hold China accountable” for adhering to existing WTO rules and “any unfair and market-distorting trade practices that hurt U.S. workers, businesses, farmers or ranchers.”. “Until China transforms its approach to the economy and…

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Chinese Corporates Brace For Rising Annual Losses

“Reports added that revenue declines and rising costs are combining with asset write-downs and an overall weakening economy to result in these losses” reports pymnts.com. Amid a sluggish economy and rising debts, China’s corporations are bracing for losses and drops in asset values, The Wall Street Journal (WSJ) said on Friday (Feb. 1). Last year, Fitch analysts warned that regulatory efforts to reduce corporate debt levels could have a negative impact on China’s overall economy. Source: pymnts.com

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