Thanks to Trump’s trade war on China, the US is about to experience a massive sample of just what a new, very large consumption tax will taste like. The result is sure to be a significant tax-based lifting of sticker prices across a huge range of goods.
The recent US trade retaliation against China is similar to that against Japan in the 1970s and 1980s. Japan’s economy was badly hit after the large appreciation of the Japanese yen as part of the measures to resolve the bilateral trade imbalance
Many analysts are looking at the disaggregated July US imports from China because changes in the July importation figure of the affected items are the first tangible data points of how the Chinese exports to the US have been affected.
In April 2018, it was revealed that Singapore has invested SGD 27 billion into the Chongqing Connectivity Initiative since the project broke ground in 2015. The four priority sectors are financial services, aviation, transportation and logistics, and ICT.
While addressing the opening of the Forum of China Africa Cooperation, Chinese President Xi Jinping sought to allay fears of not just African countries, but other countries which are part of the Belt and Road Initiative.
In the past few months, US-China relations have sunk to a state somewhere between frosty and hostile. This marks a major change since President Trump visited China in November 2017. There are several reasons for this.
North Korea’s economy suffered a negative growth of 3.5 percent in 2017, its worst setback in a decade. The disagreement with the US over its denuclearization process could delay the lifting of sanctions, while China-US competition in the Korean Peninsula may add additional uncertainty.
Malaysian Prime Minister Dr Mahathir Mohamad visited Beijing from August 17-21, 2018, with the aim of seeking understanding from his Chinese hosts that his government needs to re-adjust Malaysia’s financial situation.
Turkey’s currency dropped by 1/5 of its value against the US dollar on August 10, 2018. One of the most significant rescue packages came from Qatar which came up with USD 15 billion worth of investments for Turkey.