Chinese Economics Thread

Quickie

Colonel
Oct 14, 2019
now again two types of stories:

  1. China’s exports fall again in November, as trade war continues to bite
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    China's foreign trade registered steady growth in the first 11 months of 2019 by expanding 2.4% YOY, reaching 28.5 tln yuan ($4.14 tln), the General Administration of Customs said Sunday.
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The better measure is the Yuan as it's the currency that is used to price the Chinese goods and services that is traded between China and the rest of the world, not just the U.S.

Trade between China and U.S. is only slightly more than 10% of China's total trade.
 
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Gatekeeper

Brigadier
Registered Member
Latest News
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U.S. Stocks Rally In Reaction To Upbeat Trump Tweet
CONTRIBUTOR
RTTNews.com
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PUBLISHED
DEC 12, 2019 10:49AM EST
(RTTNews) - Stocks have shown a strong move to the upside in morning trading on Thursday, adding to the modest gains posted in the previous session. With the advance, the major averages have reached new record intraday highs.

The major averages have pulled back off their best levels in recent trading but remain firmly positive. The Dow is up 204.23 points or 0.7 percent at 28,115.53, the Nasdaq is up 65.56 points or 0.8 percent at 8,719.61 and the S&P 500 is up 24.17 points or 0.8 percent at 3,165.80.


The rally on Wall Street comes after President Donald Trump expressed optimism about a potential U.S.-China trade deal.

"Getting VERY close to a BIG DEAL with China. They want it, and so do we!" Trump said in a post on Twitter just after the start of trading.

Trump has repeatedly expressed optimism about a trade deal but has previously suggested China wants to reach an agreement more than the U.S.

The tweet comes after a report from Reuters said Trump is expected to meet with top trade advisers today to discuss current plans to raise tariffs on $160 billion worth of Chinese goods on December 15th.

Reuters said officials circulated talking points ahead of the meeting downplaying the repercussions the new tariffs would have on the U.S. economy.

Three sources familiar with the plans told Reuters the senior trade advisers are expected to present divergent views during the high-stakes meeting, with the final decision up to Trump.

Reports earlier this week suggested the U.S. would likely delay imposing the new tariffs to avoid agitating China amid an ongoing negotiations toward a phase one trade deal.

Following the tweet from Trump, traders have largely shrugged off a report from the Labor Department showing initial jobless claims jumped to a two-year high in the week ended December 7th.

The report said initial jobless claims surged up to 252,000, an increase of 49,000 from the previous week's unrevised level of 203,000. Economists had expected jobless claims to edge up to 213,000.

With the much bigger than expected increase, jobless claims reached their highest level since hitting 257,000 in September of 2017.


I think Trump is panicking! anyone else think so too?
 
Tuesday at 8:12 AM
Trade war: China deal unlikely this week with US distracted by USMCA, but new tariffs not expected
  • Sources from Beijing and Washington continue to believe that tariffs planned for Sunday will be averted, due to economic pressure on both the US and China
  • New US tariffs could lead to China unleashing ‘unreliable entities list’ on US companies, while soaring inflation and falling exports press on Beijing to make deal


I think the gist is “If we see US tariffs on Sunday, it would mean the talks collapse,” anyway follow the link
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updating with
Trade war: China remains tight-lipped on talks as December 15 tariff deadline looms
  • China’s Ministry of Commerce spokesman Gao Feng says only that ‘the two teams are keeping in close communication’
  • Lead negotiators from China and US are expected to speak by phone before Sunday, when new tariffs are due to be implemented, says former US trade official

so follow the link
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if interested
 

supercat

Major
WTF is this supposed to mean - the Chinese side does not want to disclose the terms of the phase 1 trade deal? Or it's actually the American side that wants to keep them under wraps?

The source says a signing ceremony will not happen with President Xi. There will be a rollout of the agreement by the White House Friday. The Chinese have requested that the language of the (terms) never be made public.

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Xi better gets it straight - there will be repercussions if he attempts to keep the Chinese public in the dark from such important issues.
 

jimmyjames30x30

Junior Member
Registered Member
WTF is this supposed to mean - the Chinese side does not want to disclose the terms of the phase 1 trade deal? Or it's actually the American side that wants to keep them under wraps?



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Xi better gets it straight - there will be repercussions if he attempts to keep the Chinese public in the dark from such important issues.

There is no need for you to react to anything that is not final and official.
 

manqiangrexue

Brigadier
WTF is this supposed to mean - the Chinese side does not want to disclose the terms of the phase 1 trade deal? Or it's actually the American side that wants to keep them under wraps?



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Xi better gets it straight - there will be repercussions if he attempts to keep the Chinese public in the dark from such important issues.
I means that if there's a deal at all, it's too embarrassing for Trump to disclose the terms. You can bet every last penny you own if he achieved a "victory" or even anything he can paint as one, he'd go orangutan on twitter and fox news.
 
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