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, ...
Chinas exports up 8.7%, imports 14.8% in May
The Dollar Business Bureau Belying the expectations of analysts, China's exports grew 8.7% in May compared to the previous year, while imports rose 14.8%, according to an official data. With this, the country was left with a trade surplus of about $40.81 billion for May, the Chinese government agency General Administration of Customs of China on Thursday said. Exports in the month of May from the largest exporter of the world were expected to grow at 7%, easing a little from 8% growth in April, according to the analysts polled by Reuters. However, the imports into the country decreased to 8.5%, after a growth of 11.9% in the preceding month. The analysts were expecting the trade surplus of China to have expanded to $46.32 billion ...
India to become full member of SCO; Modi departs to attend summit on June 8-9
The Dollar Business Bureau Prime Minister Narendra Modi left for Kazakhstan on Thursday to attend the two-day summit of Shanghai Cooperation Organisation (SCO). During the summit to be held on June 8-9 in Astana, the capital city of Kazakhstan, India is set to become a member of the SCO. The Prime Minister will also attend the inauguration of the Astana Expo 2017 on Friday which is based on the theme of ‘Future Energy’ this year. “At this meeting, on completion of the process, India will become a full Member of the SCO upon which SCO will represent over 40% of humanity and nearly 20% of global GDP,” the PM wrote. “We launched the process of full membership in Tashkent meeting of the SCO last year. I look forward to deepening India’s ...
Will Trump engage in 'tough talk' to extract trade favours from Xi?
The Dollar Business Bureau Even as the world awaits the outcome of the upcoming Trump-Xi meet with much apprehension, Trump's tweets have fanned the flames by giving the whole US-China affair a war-like aura. "The meeting next week with China will be a very difficult one in that we can no longer have massive trade deficits and job losses. American companies must be prepared to look at other alternatives," one of his recent tweets said. In a recent update, US businesses have asked for meaningful action instead of disruptive trade negotiations which may lead to a trade war. Nevertheless, the general sentiment is in favour of a 'tough talk' which will coerce China into giving market access and opening up its economy to ...
'Trump got something from Xi on agreeing to One China policy'
PTI The White House today indicated that US President Donald Trump "got something" in return from Beijing for agreeing to the 'One China' policy on Taiwan, which he had earlier questioned following his electoral victory. "The President always gets something," the White House Press Secretary Sean Spicer told reporters at his daily news conference when asked about Trump's change in the 'One China' policy over the past few months. Breaking with past traditions, Trump, following his victory in November election, has made a call to Taiwan, and openly questioned the sanctity of the 'One China' policy, suggesting that Washington is not bound to follow its nearly three-decade-old policy to support one China unless Beijing agrees to a new trade ...
China cautions rise of protectionism, pushes Asia-Pacific trade deals
The Dollar Business Bureau Before the departure of Chinese President Xi Jinping for the Asia-Pacific Economic Cooperation (APEC) summit to be held in Peru from November 19-20, Li Baodong, the country’s Vice Foreign Minister cautioned about the upsurge of protectionism and said that the region required a free trade agreement (FTA) as soon as possible. “Trade and investment protectionism is rearing its head, and Asia-Pacific faces insufficient momentum for internal growth, and difficulties in advancing reforms,” Li said, while briefing reporters. Li also opined that China thinks it should set a very practical and fresh working plan, to respond positively to the industry’s expectations, and maintain momentum in order to create a free trade area in the Asia-Pacific region at an early date. During ...
Chinese Prez to attend Brics Summit in Goa on Oct 15
The Dollar Business Bureau Chinese President Xi Jinping is all set to attend the BRICS summit to be held in Goa during his four-day tour to India, Cambodia and Bangladesh respectively. Jinping will meet India’s Prime Minister Narendra Modi on the sidelines of the summit which is scheduled to take place on October 15. The annual summit will be attended by the heads of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) countries that includes Bangladesh, Bhutan, Nepal, Sri Lanka, Myanmar and Thailand along with member countries of BRICS (Brazil, Russia, India, China and South Africa). The Chinese President will meet 11 government heads in total. One of the highlights of Jinping’s tour is his visit to Bangladesh, an important event which is taking place ...
Chinese investments in India grew 6-fold in 2015
The Dollar Business Bureau Investments from China in India rose six-fold to $870 million in 2015 compared to the previous year, whereas more investments are expected as restrictions have been eased for Chinese companies due to favourable tax rates, said a report in a Chinese daily ahead of President Pranab Mukherjee's visit to the country. Investment by Chinese companies in India reportedly grew six-times to around $870 million in 2015 from 2014, due to ease of investment restrictions and favourable tax regime and land rent policies in India, said Global Times while quoting business experts from China. The report noted that the numbers for 2015 also doubled from that of April 2000 and 2014. According to trade officials in India, the increased numbers show ...
