China suddenly added a new member to its negotiating team — the country’s commerce minister, Zhong Shan, who is seen as a hard-liner by many officials in Washington. “The U.S. side has provoked economic and trade frictions against us and violated the principles of the WTO. It is typical of unilateralism and protectionism. … We […] Read more
China could learn a lesson for its possible digital currency issuance from the Hong Kong monetary system that allows “commercial entities” to issue banknotes backed by their own private currency assets, former central bank governor Zhou Xiaochuan said. Zhou, who served as the governor of the People’s Bank of China (PBOC) for over 15 years […] Read more
President Donald Trump wouldn’t need to hear much from Chinese officials to at least strike a truce in the trade war between the two sides, a senior administration official told CNBC. Trump and Chinese President Xi Jinping are set to meet Saturday at the G-20 meeting in Osaka, Japan, with expectations running high that the […] Read more
St. Louis Fed President James Bullard wanted his fellow central bankers to approve an “insurance” rate cut at this week’s meeting as a guard against weaker growth and low inflation. In a statement Friday, Bullard explained his vote against the Federal Open Market Committee’s decision to leave its benchmark interest rate unchanged. He was the […] Read more
J.P. Morgan Chase CEO Jamie Dimon said that the escalating U.S.-China trade dispute is a “real issue” that could damage corporate confidence. “I think trade is a real issue,” Dimon said Tuesday in a conference in New York. “Trade has gone from being a skirmish to being far more important than that. If this goes […] Read more
Riyadh: Saudi Arabia’s listed companies could see holdings by foreign investors rise to 10 per cent when shares are included in index providers MSCI and FTSE’s emerging markets indices, the chief executive of Tadawul said on Monday. Khalid Al Hussain said he expected equities on the Saudi bourse, Tadawul, to attract $5 billion (Dh18.35 billion) […] Read more
There will not be a recession this year despite a slowdown in economic activity worldwide, a top executive at Carlyle Group told CNBC Wednesday. Global growth has lost some steam compared to last year, with the International Monetary Fund (IMF) downgrading its forecasts for this year. At the same time, geopolitical risks have grown, from […] Read more
Markets have lowered their bar for what kind of U.S.-China trade headlines they’d cheer, a J.P. Morgan Asset Management global market strategist, Hannah Anderson, said Friday. Markets have been on edge for months about trade tensions between the world’s two largest economies. An American delegation led by Treasury Secretary Steven Mnuchin and U.S. Trade Representative […] Read more
