Lack of progress in US, China trade talks, 100-day action plan nears
The Dollar Business Bureau US and China failed to agree on major new steps to reduce US's trade deficit with China, leading to doubts over the economic and security relationship between the two countries. The annual economic session in Washington dubbed by the Trump administration as US-China Comprehensive Economic Dialogue (CED) ended with both the sides refusing to hold news briefs or joint statements with no news announcements on US market access to China. Though both the sides had open and frank talks, they failed to come to a consensus on major bilateral and economic issues that were important for the US. According to Reuters, US had asked for- major access to China's financial services markets, reduction in China's steel capacity, reduction in auto tarriffs, ...
China's GDP grows 6.7% in Q3 on account of govt spending, property boom
The Dollar Business Bureau In line with the Chinese government and industry expectations, China’s economy expanded at 6.7% in the third quarter from a year earlier, as the increased government spending and real estate boom balanced out weak exports. Real estate investment growth registered a slight growth during January-September period, as it grew by 5.8% compared to 5.4% over the first eight months of the last year. Despite a significant growth, the market is wary of the sector’s future growth rate owing to real estate price surge. Several analysts earlier predicted that China’s economy was stabilizing and expanding at the same pace as it did in the first and second quarters of the current financial year and is in line with the ...
India sees red in Chinese currency devaluation, traders fear dumping
Sai Nikesh | The Dollar Business The devaluation of Chinese currency by more than 3% in the past two days has become a major concern for Indian manufacturers and traders who have already been facing tough fight against cheap imports from China. According to Indian government officials, the fall in Chinese currency value will affect India’s exports. Indian authorities are also concerned about its possible impact on the country’s Foreign Direct Investment (FDI), as China may become an attractive destination for foreign investors. The International Monetary Fund (IMF), on Tuesday, said, “The new mechanism for determining the central parity of the Renminbi announced by the People’s Bank of China (PBC) appears a welcome step, as it should allow market forces to ...
Competitiveness and business environs hitting exports: Report
The Dollar Business Bureau More than 60% of exporters among 133 exporters from small, medium and large enterprises have reported a slowdown in their exports because of a dull business environment in the domestic and foreign markets. Not only the volumes, but also the momentum of exports has been lost, reported the exporters. They said that due to both internal external factors their exports have fallen and their order books have seen a decline by 20% for the coming times. In a survey conducted by the PHD Research Bureau of PHD Chamber of Commerce and Industry, exporters said that they are facing severe slowdown in order books because of weakening competitiveness in foreign markets and challenging business environment ...
