Donald Trump hints at extension to China trade talks

Posted on February 15, 2019 by Admin

President said potential delay was justified as deal ‘must be the biggest in history’

President Donald Trump has conceded that he will delay planned increases in import duties on $200bn (£155bn) of Chinese goods if there is progress in trade talks in Washington next week.

Appearing to soften his demand for talks to conclude before 1 March, Trump said there could be a 30- or 60-day extension, should negotiators get closer to a deal. He said a delay was justified, based on the scope and scale of the talks. Speaking on the White House lawn, he said: “Trade with China – how big does that get? It must be the biggest deal in history.”

Fears grow in Africa that the flood of funds from China will start to ebb

Posted on January 5, 2019 by Admin

Slowing growth and rising debt at home may affect Beijing’s ability to keep up its vast investments in the developing world

Concerns over Chinese growth could spell problems for Africa and other parts of the developing world. Beijing funded an overseas investment boom in the past few decades as it strove to become the world’s second largest economic superpower, while also buying vast amounts of the natural resources produced by emerging nations.

The scale of the expansion forms part of China’s multibillion-dollar “Belt and Road” Initiative, a state-backed campaign to promote its influence around the world, while providing stimulus for its own slowing economy. The transcontinental development project, launched by China’s president, Xi Jinping, in 2013, aims to improve infrastructure links between Asia, Europe and Africa, with the aim for China to reap the benefits from increasing levels of global trade.

China’s faltering economy gives US stronger hand in trade talks, Trump says

Posted on January 4, 2019 by Admin

As US officials fly to Beijing for negotiations, the president says the Chinese ‘sort of have to’ make a deal on tariffs

Donald Trump has said China’s weakening economic growth puts the United States in a strong position as negotiators from the world’s two largest economies prepare for trade talks on Monday.

US officials are heading to Beijing this weekend for the first face-to-face talks since Trump and China’s president, Xi Jinping, agreed in December to a 90-day truce in the trade war as they sought to strike a deal.

Stocks start 2019 in retreat as China factory output shrinks – business live

Posted on January 2, 2019 by Admin

Chinese manufacturing sector declines for first time in 19 months amid new year global growth concerns

9.33am GMT

UK manufacturing activity came in significantly higher than expected at the end of 2018 thanks in part to a steep rise in stockpiling ahead of Brexit, according to a closely followed survey.

The manufacturing purchasing managers index rose to 54.2 in December, up from 53.1 in November, data firm IHS Markit reported. Economists had expected a slowdown to 52.5.

The rise in the PMI level during December was mainly driven by stronger inflows of new business and a solid increase in stocks of purchases. Movements in both mainly reflected Brexit preparations by manufacturers and their clients.

9.22am GMT

The European Central Bank has been busy celebrating 20 years of the euro this new year, but today it was forced to announce less pleasant news: Italian lender Banca Carige has been put in administration.