Thursday, 17 January, 2019

Dow Rally Plows Ahead as China Trade Optimism Grows

Who claims what in the South China Sea Read More Who claims what in the South China Sea
Orlando Vargas | 09 January, 2019, 21:42

"Overall investor sentiment on risk assets is improving as the ongoing talks between the US and China ease uncertainties in the market", Ahn Yea Ha, a commodities analyst at Kiwoom Securities Co., said by phone from Seoul.

China claims nearly all of the strategic South China Sea and frequently lambastes the United States and its allies over naval operations near Chinese-occupied islands.

China's top economic official, Premier Li Keqiang, has met with the CEO of electric auto brand Tesla Inc., Elon Musk.

President Donald Trump has expressed hope for a bilateral trade deal with China while pointing to years of hundreds of millions in trade deficit between the two nations.

Prior to the meeting, China made a number of concessions to United States demands including temporarily cutting punitive tariffs on US-made cars, resuming soybean purchases, promising to open up its markets for more foreign investment, and drafting a law to prevent forced technology transfers.

Tesla broke ground this week in Shanghai on its first factory outside the U.S. Musk said production of its Model 3 would start late this year.

Many economists would not worry about this risk of reliance on foreign imports, though Trump views the imbalance as payments made to Chinese manufacturers without adequate reciprocation, and has pledged to reduce the trade deficit.

China is the largest electric vehicle market and is strongly encouraging its development.

President Donald Trump has said on Twitter that the talks are "going very well".

World's most powerful passport revealed as United Kingdom slips down the rankings
That's the view of the Henley Passport Index , which periodically measures the access each country's travel document affords. Elsewhere in Asia, China jumped nearly 20 places in just two years, from 85th in 2017 to 69th this year.


Google Assistant’s new ‘Interpreter Mode’ serves as real-time translator for hotel guests
Google Assistant has been around for two and a half years now and has been installed on almost one billion devices globally. Anywhere people from around the world come together - airports, stadiums, museums, etc. - could be a target for Google.


Chelsea's Sarri backs Fabregas move to Monaco but wants replacement
And Warnock is completely at a loss to explain the muddled situation involving Sarri, Hudson-Odoi, Chelsea and Bayern. He said: 'Odoi in the last week has been very normal.


In what is widely seen as a goodwill gesture, China on Tuesday issued long-awaited approvals for the import of five genetically modified crops, which could boost its purchases of U.S. grains as farmers decide which crops to plant in the spring.

US companies also want action on Chinese policies they complain improperly favor local companies.

Trump has imposed tariffs to pressure Beijing to change its practices on issues ranging from corporate espionage to market access and industrial subsidies. No timing was given and it wasn't immediately clear if the US delegation would release a statement.

The standoff also reflects American anxiety about China's rise as a potential competitor in telecommunications and other technology.

Companies that have been disappointed by Beijing's failure or delays in carrying out commitments want an enforcement mechanism with "some kind of penalty for not doing what they promised", said Parker. "It's probably going to take a little longer".

For their part, Chinese officials are unhappy with US curbs on exports of "dual use" technology with possible military applications.

The U.S. did not send its top trade negotiators that have participated in previous U.S. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

The American delegation was led by one of Lighthizer's deputies, Jeffrey D. Gerrish.

Given the relatively low-ranking status of the negotiations, led by deputy USTR Jeffrey Gerrish on the United States side and vice-minister for commerce Wang Shouwen on the Chinese side, observers and analysts had predicted that the talks would seek to lay groundwork for future, more senior, discussions, rather than brokering any substantive deals.

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