In what appears to be a concerted effort to gather international support against the prospect of U.S. protectionism, China has been meeting with trade representatives from Europe to make its case amid global trade concerns, sources told Reuters. Officials from France, Germany, the UK, Spain, Italy, and the EU met with China’s International Trade Representative […]
Author: Timothy Ang
A report issued by one of China’s four national asset managers China Orient Asset Management Co. suggests that the country’s banks have likely understated their levels of risky debt, with nonperforming loans (NPLs) set to increase further this year. For the last five quarters, commercial banks’ NPL ratio has been a steady 1.74%, a figure […]
QUICK TAKE
The US and UK have both taken action to limit the influence of major Chinese telecommunications equipment firm ZTE Corp., on the grounds of national-security concerns. The US Commerce Department has invoked a 7-year export ban on ZTE due to the Chinese company’s alleged violation of a deal made last year following allegations of trade […]
US President Donald Trump accused China and Russia of currency manipulation in a tweet on Monday, in an unexpected move that seemed to disagree with the stance of other government offices. “Russia and China are playing the Currency Devaluation game as the US keeps raising interest rates. Not acceptable!,” Trump said in the tweet. He […]