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☆ U.S. may characterize new tariffs as 'derisking rather than decoupling,' former diplomat says
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. may characterize new tariffs as 'derisking rather than decoupling,' former diplomat saysKurt Tong, managing partner of The Asia Group and former U.S. diplomat, says the United States is likely to "make the point that they're fairly narrow in range as a proportion of total trade, and try and juxtapose that to the previous broad-based tariffs implemented by the Trump administration."

Persons: Kurt Tong, Trump Organizations: The Asia Group Locations: U.S, United States

☆ China’s Xi is visiting Europe for the first time in five years – his goodwill tour will be an uphill struggle
▼ + stars: | 2024-05-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Major breakthroughs with China’s toughest critics will be hard to come by unless Xi is ready to make surprise concessions. And the trip could instead serve to underscore divisions – not only between Europe and China – but those within Europe that could play to China’s favor, analysts say. Chinese President Xi Jinping and French President Emmanuel Macron visit a garden in Guangdong during Macron's state visit to China last April. Putin has said he plans to visit China this month, according to Russian state media. Xi may also look to highlight Chinese investments in both Belgrade and Budapest in a message to the rest of Europe.

Persons: Xi Jinping, Andrea Bocelli, –, Xi, China –, ”, Noah Barkin, Hungary –, Ursula von der Leyen, Emmanuel Macron, Von der Leyen, Olaf Scholz, Chong Ja Ian, “, Chong, Jacques Witt, China’s, Macron, Russia …, Wang Yiwei, Vladimir Putin, Putin, Aleksandar Vučić, Viktor Orban – Organizations: CNN, European Union, Ukraine, German Marshall Fund of, EU, “, National University of Singapore, Getty, Beijing’s Renmin University, NATO, Reuters, EV Locations: China, Italy, France, Germany, United Kingdom, Russia, “ China, Europe, Berlin, United States, Serbia, Hungary, Beijing, Paris, “ France, North America, Guangdong, Ukraine, Switzerland, Barkin, “, Belgrade, Budapest, Balkans, Balkan

☆ Jamie Dimon says the future of the world depends on whether the US can sort out its relationship with China
▼ + stars: | 2024-04-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewHow the US handles its shaky relationship with China will affect the future of the world, says JPMorgan chairman and CEO Jamie Dimon. "It's the thread from Ukraine, oil and gas, food, migration, all our relationships, the most important one being China," Dimon told Bloomberg's Emily Chang in an interview that aired Wednesday. Related storyDimon's fresh remarks on China come as the world's second-largest economy finds itself in a fraught relationship with the US. And in January, CIA chief William J. Burns said China is a far bigger threat to the US than Russia. But while Dimon did single out China as a significant risk to the world, he told Chang that he is optimistic that the US could manage them.

Persons: —, Jamie Dimon, Dimon, Emily Chang, Chang, William J, Burns, Joe Biden, Donald Trump, Biden, They've, they're, America's Organizations: Service, Business, JPMorgan Global China Summit, Reuters, CIA, Affairs, Wednesday Locations: China, Ukraine, Russia, Shanghai, Pennsylvania

☆ India wants to become the top manufacturing alternative to China. But first it needs to beat Vietnam
▼ + stars: | 2024-04-02 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +6 min

The Biden administration has encouraged American companies to move electronics and technology manufacturing operations out of China and into friendlier countries, particularly Vietnam and India in Asia-Pacific. Vietnam's head startIndia and Vietnam are attractive manufacturing alternatives for foreign investors and companies, due in part to low labor costs. Import taxes remain highOne hurdle for India's manufacturing hub ambitions is the country's 10% import duty for information and communication technologies. India's import taxes were intended to protect domestic manufacturers, but lowering those duties will be part of the government's efforts to attract foreign firms to manufacture goods within the country. For example, India in January lowered import taxes for certain metal and plastic parts used in manufacturing mobile phones from 15% to 10%.

Persons: Biden, Mukesh Aghi, Samir Kapadia, Narendra Modi's, Aghi, Nari Viswanathan, Viswanathan, Tim Cook, Narendra Modi, Andy Ho, Modi, Kapadia, Pankaj Mahindroo, VinaCapital's Ho, Ho Organizations: Hindustan Times, Getty, Republicans, U.S ., India Strategic Partnership, India Index, Vogel Group, U.S, White House, Washington, Financial Times, Apple, Indian, Google, Dixon Technologies, Samsung, Motorola, India Cellular and Electronics Association, CNBC, corporates Locations: Noida, India, Asia, China, Vietnam, The U.S, U.S, United States, Singapore

☆ Investor sentiment on China has improved in the last 12 months, Oliver Wyman partner says
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestor sentiment on China has improved in the last 12 months, Oliver Wyman partner saysBen Simpfendorfer, partner at Oliver Wyman, discusses U.S.-China relations and the "derisking" of supply chains.

Persons: Oliver Wyman, Ben Simpfendorfer Locations: China

☆ Here are Monday's biggest analyst calls: Nvidia, Alphabet, Salesforce, Arm, CVS, BJ's, Super Micro & more
▼ + stars: | 2024-02-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley reiterates Target at overweight Morgan Stanley stood by its overweight rating on the department store owner. Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said it likes the setup heading into earnings later this week. Morgan Stanley upgrades HashiCorp to overweight from equal weight Morgan Stanley said the software company has a compelling valuation. Morgan Stanley upgrades AvalonBay to overweight from equal weight Morgan Stanley said apartment REIT stocks like AvalonBay are '"cheap for a reason." Morgan Stanley upgrades Sun Country to overweight from equal weight Morgan Stanley said it likes the airline's business model.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Salesforce, Rosenblatt, Jefferies, Amer, Wells, Jane Fraser, Roth MKM, Roth, TD Cowen, TD, DA Davidson, OW, Fannie Mae, KBW, Freddie, Truist, it's, Piper Sandler, Piper, Bentley Organizations: Nvidia, BMO, Apollo, Amer Sports, Citi, Citigroup, Bank of America, KKR, APO, BJ's Wholesale, D.A, Susquehanna, Energy, HSBC downgrades Moderna, HSBC, Moderna, Google, YouTube, " Bank of America, Omega Healthcare, Sun, DuPont's Mobility, JPMorgan, Navy, Bentley Systems Locations: USD75, Asana, ASAN

☆ McDonald's raises China bet, bucking Western firms' derisking trend
▼ + stars: | 2023-12-04 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +4 min

[1/5] A woman sits on a swing attached to a giant sign of McDonald's, outside its themed exhibition in Beijing, China December 4, 2023. One advantage for McDonald’s: its majority partner in the China business, CITIC, provides top-level political cover, said Jason Yu, greater China managing director of market research firm Kantar Worldpanel. McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks (SBUX.O), Apple (AAPL.O), Coach owner Tapestry (TPR.N) and sportswear giant Nike (NKE.N), have remained similarly dedicated to the China market. Although the McDonald's China menu would be familiar to U.S. consumers, there are nods to local tastes, including taro pie, rather than apple.

Persons: Tingshu Wang, McDonald's, Jason Yu, Kantar, Yu, Carlyle, Wallace, Greg, Euromonitor, Ben Cavender, Casey, Kane Wu, Deborah Sophia, Gerry Doyle Organizations: REUTERS, Rights, Group, Carlyle Group, Starbucks, Apple, Nike, Research, Investment, China Market Research, Casey Hall, Thomson Locations: Beijing, China, U.S, Hong Kong, Macau, Yum China, Russia, Shanghai, Bengaluru

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Eli Lilly, Salesforce, Snowflake, Snap, Pinterest and more
▼ + stars: | 2023-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.

Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China

Goldman Sachs raised its price target on General Motors after the stock's best day since early 2021. The bank reiterated a buy rating as well as a top pick label, accompanied by a $300 per share price target. Goldman Sachs also maintained its buy rating and increased its target price to $345 per share from $340. To be sure, it maintained its $16 per share price target, which implies more than 3% downside from Wednesday's $16.52 close. — Brian Evans 5:45 a.m ET: Goldman raises GM price target Goldman Sachs analyst Mark Delaney increased his price target on General Motors to $45 from $42 after a series of bullish moves by the auto giant.

Persons: Goldman Sachs, Morgan Stanley, 31.6x, Eric Heath, Wells, Andrew Nowinski, — Brian Evans, José Neves, Marvin Fong, Brian Evans, Salesforce, Brad Sills, Kash Rangan, Jefferies, Snapchat, Pinterest, James Heaney, Meta Marshall, Mark Delaney, Delaney, Fred Imbert Organizations: CNBC, General Motors, Hewlett Packard Enterprise, Wall, Bank of America, SNAP, Goldman, GM Locations: Okta, America

☆ Huawei is giving Apple stiff competition in China. Suppliers to watch
▼ + stars: | 2023-11-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese smartphone companies like Huawei are rebounding in their home market, giving a boost to domestic suppliers — and increasing the pressure on Apple . Huawei smartphone sales surged by 83% in October from a year ago, Counterpoint Research said in a note Tuesday. Honor, a Huawei spin-off, saw sales climb by 10%, while Xiaomi smartphone sales rose by 33%, the report said. The report did not break out Apple sales, only saying a broad category of "others" saw October smartphone sales drop by 12% from a year ago. For context, Shanghai-based CINNO Research expects a 2% decline in Apple iPhone sales in China this year to 45.5 million units.

Persons: Morgan Stanley, Xi Jinping, Joe Biden, Raymond James, Biden, Nomura, Lihexing, CNBC's Michael Bloom Organizations: Huawei, Apple, D.C, Telecommunications, 5G, Research, Guangdong Topstar Technology, Xiaomi, Industrial Locations: China, Washington, U.S, Shenzhen, EVs, Shanghai, Guangdong, Topstar

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsSHANGHAI/PARIS, Nov 17 (Reuters) - The world's biggest luxury brands seeking growth in their second-largest market China are all courting the likes of wealthy entrepreneur Diana Wang. "Luxury brands offer you this event experience, this personal experience and it makes you feel privileged," Wang told Reuters. This week, Burberry (BRBY.L) also flagged low double-digit growth due to a slowdown in luxury spending globally, and in China. FEEDING THE LUXURY HABITEven as they narrow their focus, luxury brands remain optimistic about the potential in China, which is forecast to account for almost 40% of global luxury sales by 2030, according to consultants Bain. Luxury consultant Mario Ortelli said several luxury firms are hedging their bets on China by also expanding their global footprint.

Persons: Thomas Peter, Diana Wang, Wang, Tiffany, Chopard, Jacques Roizen, Cartier, Richemont, It's, Jean, Marc Duplaix, Versace, Donatella Versace, Gucci, Chanel, Dior, Cyrille Vigneron, LVMH, Louis Vuitton, Bain, Eric du Halgouet, Birkin, Mario Ortelli, Ortelli, it's, Mimosa Spencer, Casey Hall, Miral Organizations: Tiffany, REUTERS, Rights, Reuters, Burberry, HSBC, Digital Luxury, Chanel, Shanghai, Capri Holdings, Tapestry, Bund, Thomson Locations: Beijing, China, PARIS, Shanghai, Cartier, Shenzhen, South Korea, Japan, Thailand

The summit won’t end the standoff between the world’s biggest economies. But it’s a sign that Biden and Xi want to maintain ties, despite trade tensions, tit-for-tat sanctions and questions about the future of Taiwan — and business leaders will be hoping for some sign of a thaw. Officials have been at pains to emphasize that the U.S. and China are competitors rather than zero-sum rivals. “We have a $700 billion trading relationship with China. The vast majority — 99 percent of that — has nothing to do with export controls,” Gina Raimondo, the commerce secretary, told CNN this weekend.

Persons: Biden, Xi Jinping, Xi, —, ” Gina Raimondo, Jake Sullivan, Janet Yellen, ” Xi, ” Organizations: CNN Locations: China, Washington, Beijing, San Francisco, Taiwan

☆ Here are Thursday's biggest analyst calls: Nvidia, Disney, Tesla, Instacart, Arm, Rivian, Target & more
▼ + stars: | 2023-11-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs initiates Apellis Pharmaceuticals as buy Goldman initiated the biotech company with a buy and says it sees "continued execution." Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating after Wednesday's earnings report. Goldman Sachs reiterates Arm as overweight Goldman said it's sticking with its buy rating after the stock's earnings report on Wednesday. Goldman Sachs reiterates Instacart as buy Goldman said it's sticking with its buy rating on the grocery delivery company after Instacart's earnings report on Wednesday. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's sticking with its overweight rating on the electric vehicle company. "

Persons: Goldman Sachs, Goldman, Tesla, WK Kellogg, Kellogg, Wolfe, Instacart, Morgan Stanley, Rivian, Eli Lilly, MRK's Keytruda, Evercore, it's bullish, Parker, Wells, it's, Hein Schumacher Organizations: Apellis Pharmaceuticals, HSBC, Tesla, Barclays, JPMorgan, Bank of America, Disney, ARM, Deutsche Bank, Deutsche, Merck, pharma, TAP, Industrial, Nvidia, Anheuser, Busch InBev, Bud, Offshore, Unilever, OW, Citi Locations: North America, Montrose

☆ Southeast Asia will benefit from firms 'derisking' from China, says Bank of America
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoutheast Asia will benefit from firms 'derisking' from China, says Bank of AmericaShah Jahan of the bank says Thailand will benefit from companies moving car assembly operations out of China.

Persons: Bank of America Shah Jahan Organizations: Bank of Locations: Asia, China, Bank of America, Thailand

☆ Stifel says this under-the-radar biotech stock can still rally more than 50% from here
▼ + stars: | 2023-11-02 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

It's not too late for investors to ride along with MoonLake Immunotherapeutics despite the Swiss biotech having more than quadrupled in price this year, according to Stifel. Shares of MoonLake have soared 354% in 2023, but Stifel believes more gains lay ahead. MLTX YTD mountain MLTX YTD chart Analyst Alex Thompson believes MoonLake's sonelokimab drug, which targets diseases in dermatology and rheumatology, could eventually achieve $4.2 billion in U.S. revenue. The next trial readout for the drug is in psoriatic arthritis, with data expected in early November. "We view recent acquisitions in the TYK2 and TL1A space ($4-11B) as supportive of Strategics' interest/willingness to pay premiums in these markets," Stifel noted.

Persons: It's, MoonLake Immunotherapeutics, Stifel, Alex Thompson, we've, Thompson, MoonLake, — CNBC's Michael Bloom

☆ Gavin Newsom says ‘divorce is not an option’ for US and China after Xi Jinping meeting
▼ + stars: | 2023-10-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —“Divorce is not an option” when it comes to the world’s two largest economies, California Governor Gavin Newsom told CNN on Wednesday following his meeting with Chinese leader Xi Jinping. In an interview with CNN’s Christiane Amanpour, Newsom said his meeting with Xi in Beijing had revived hope that the United States and China were at a turning point in their relations. Newsom — the first US governor to meet with Xi in six years — is in China for a week-long visit to promote action on climate change. Xi also expressed the hope that the governor’s visit to China would help stabilize the broader relationship. If it were a country, California “would be the fifth largest economy in the world,” Newsom told CNN.

Persons: Hong Kong CNN —, Gavin Newsom, Xi Jinping, CNN’s Christiane Amanpour, Newsom, Xi, “ We’ve, We’ve, ”, Newsom —, ” Newsom, “, that’s Organizations: Hong Kong CNN, CNN, Xinhua, Global Times, BYD Locations: Hong Kong, California, Beijing, United States, China, decouple, Shenzhen

☆ Microsoft CEO Satya Nadella talks AI, closing the Activision Blizzard deal, and his best business decision so far
▼ + stars: | 2023-10-22 | by ( Mathias Döpfner | ) www.businessinsider.com time to read: +47 min

Just like the cloud transformed every software category, we think AI is one such transformational shift. Therefore, this notion of Copilots that we're introducing is really going to be revolutionary in terms of driving productivity and communication. Milton Friedman once famously said: "the business of business is business." One is, is the business of business just business? So, I think AI can actually be very helpful in many ways to be a little more empathetic and more understanding of the world.

Persons: Satya Nadella, Axel Springer's, OpenAI, Nadella, Axel Springer, —, Mathias Döpfner, Pankaj Nangia, Steve Ballmer, Steve, I've, It's, I'd, Herbert Simon, Karl Marx, Lakshmi, Hayek, Marx, Justin Sullivan, Carol Dweck, they're, Vuk Valcic, That's, it's, you've, Jae, Copilot, Jeff Bezos, I'm, We've, Milton Friedman, Elon Musk, we've, Lina Khan, Sam Altman, Sam, Tomohiro Ohsumi, Bard, Bing, Mathias, wouldn't, Picasso, Jakub Porzycki, Mustafa Suleyman, We'll Organizations: Service, Microsoft, Olympic, Australia, Getty, Activision Blizzard, Gaming, AP, Windows, Linux, Children's Hospital, University of Wisconsin, Associated Press, Google Locations: Berlin, India, Hyderabad, Seattle, United States, Milwaukee, American, China, derisking, DC, Beijing, Europe, GitHub, British

She cited unpublished information from Vietnam's Ministry of Natural Resources and Environment, which did not respond to requests for comment. In recent years, Japanese investors Toyota Tsusho and Sojitz abandoned projects at Dong Pao after China ramped up supply, pummelling prices. Reuters GraphicsStill, rare earths at Dong Pao are relatively easy to access and are mostly concentrated in bastnaesite ores, according to the Hanoi University of Mining and Geology. The plant has capacity to process 5,000 tons of REO a year but the company plans to treble that to accommodate input from Dong Pao, Tuan said. The metallization process is controlled by China, which produces 90% of rare-earth metals, according to the U.S. Department of Energy.

Persons: Dong Pao, Blackstone, VTRE, Tessa Kutscher, Anh Tuan, Joe Biden, Kutscher, Sojitz, Dylan Kelly, Vingroup, Rivian, Dong, Tuan, David Merriman, John Rockhold, Dudley Kingsnorth, Francesco Guarascio @fraguarascio, Khanh, Melanie Burton, Trevor Hunnicutt, Mai Nguyen, Phuong, David Crawshaw Organizations: REUTERS, Australia's Blackstone Minerals Ltd, Vietnam's Ministry of Natural Resources, Earth JSC, U.S, . Geological Survey, Reuters, Toyota, Terra Capital, Blackstone, Hanoi University of Mining, REO, White House, Department of Commerce, U.S . Chamber of Commerce, Strategic, ASM, Reuters Graphics Reuters, U.S . Department of Energy, Western Australian School of Mines, Curtin University, Thomson Locations: Nam, Lai Chau, Vietnam, Pao, HANOI, Dong, Beijing, China, Hanoi, U.S, Dong Pao, VTRE, South, Khanh Vu, Melbourne, Seoul, Washington, Phuong Nguyen

☆ Xi's economic policies are leaving many China watchers perplexed and confused
▼ + stars: | 2023-09-20 | by ( Michelle Caruso-Cabrera | ) www.cnbc.com time to read: +8 min

Why is a nation with ambitions to become the dominant economic power in the world doing so many things to blunt that potential? Xi vs. the CCPMost, though not all, China watchers point to Xi himself as the instigator of those recent changes. "China's private sector, previously the growth engine of the Chinese economy, is paying the consequences," he told CNBC. In addition, he said "in recent months, China's National Development and Reform Commission has set up a bureau especially for private sector development." They cite external factors for weakness in the Chinese economy, including U.S. tariffs, trade restrictions, sanctions, and the sluggish post-pandemic global economy.

Persons: Xi Jinping, Lintao Zhang, Orville Schell, Schell, Jinping, Yasheng Huang, Xi, Ryan Hass, Kevin Rudd, Rudd, Anne Stevenson, Yang, Stevenson, Jack Ma, Mikhail Gorbachev, Liu Pengu, Yang Fan, Zhang Xinyu, Liza Tobin, Eric Schmidt Organizations: Political, CPC Central Committee, of People, Getty, Center, U.S, China Relations, The Asia Society, CNBC, Chinese Communist Party, Communist, MIT Sloan School, CCP, China Center, Brookings, Foreign Policy, Oxford University, J Capital Research, Communist Party, Party, U.S ., Soviet Union, National, Reform, Marxist Locations: Beijing, China, New York, U.S, Australia, United States, U.S . Congress, USSR, Soviet Union

☆ 'Blatantly protectionist': China sharply rebukes EU probe on Chinese EV subsidies
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Vcg | Visual China Group | Getty ImagesChina has accused the European Union of "blatant protectionism" after its executive arm unexpectedly launched an "anti-subsidy" investigation into China's electric vehicle makers. The Chinese Commerce Ministry urged dialogue to safeguard the interests of Chinese companies and commit to global efforts to address climate change and achieve carbon neutrality. If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing. "If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing." EU members are demanding the regional bloc shield European carmakers from Chinese EVs that they say are heavily subsidized by the Chinese government.

Persons: Ursula von der Leyen Organizations: Visual China, Getty, European Union, Chinese Commerce Ministry, CNBC, EU, Beijing . Eurasia, of, Eurasia Group Locations: Jinhua, Zhejiang Province, China, EU, Brussels, Beijing, U.S, Europe, Strasbourg

☆ American economic power is potent but unstable
▼ + stars: | 2023-09-08 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +8 min

LONDON, Sept 8 (Reuters Breakingviews) - For the past 15 years, the iPhone has been a totem of U.S. economic power. If the country is cooling on the $2.8 trillion company, it’s a potent indicator of increasingly frosty relations with the United States. Perhaps most significantly, the U.S. government realised it could use the internet to spy on adversaries and the financial system to subdue them. The tendency of capitalism to produce a handful of giant companies, many of them headquartered in the United States, helped successive administrations exert their authority. A complete severing of economic links between China and the United States is hard to imagine.

Persons: Norman Angell, Thomas Friedman, Vladimir Putin, Edward Snowden, Henry Farrell, Abraham Newman, Johns Hopkins SAIS, Putin, Biden, ”, Farrell, Newman, Donald Trump, ” Farrell, Allen Lane, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, Apple, World Trade Organization, New York Times, National Security Agency, U.S . Treasury, Johns Hopkins, Georgetown University, WTO, Huawei, BNP, Biden Administration, Intel, U.S ., European, United, Thomson Locations: China, Beijing, United States, France, Russian, U.S, North Korea, Iran, New York, Washington, Sudan, Cuba, Ukraine, America, Russia, Germany, United, Europe

☆ Warning signs for at least a near-term stock pullback are building
▼ + stars: | 2023-09-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

One of the potentially big ones is that the S & P 500 on Wednesday closed below its 50-day moving average. That's typically considered a good short-term warning sign that the market is in a downtrend as traders de-risk ahead of potentially turbulent times. Those moves come at a time when other signs are mounting for a potential modest pullback, according to Nicholas Colas, co-founder of DataTrek Research. Colas advised investors to watch the Cboe Volatility Index for clues about where the market is heading in the near term. "Longer term investors may want to just sit out this modest pullback," Colas wrote.

Persons: Nicholas Colas, Colas Organizations: Apple, Microsoft, Meta, Nvidia, Tesla, DataTrek Research, Big Tech

☆ China says the best way to 'de-risk' is to restore stability with the U.S.
▼ + stars: | 2023-09-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mandel Ngan | Afp | Getty ImagesBEIJING — China's Ministry of Commerce said Thursday that restoring stability in U.S.-China trade relations is the best way to "de-risk" — a twist to a term that's become popular in international politics. That also "allows bilateral economic trade relations to better play the role of 'ballast,' stabilizing business expectations and increasing business confidence for carrying out trade and investment." In November last year, U.S. President Joe Biden and Chinese President Xi Jinping met in Bali, Indonesia, for their first in-person meeting since Biden took office. Their meeting kicked off formal plans for U.S. Secretary of State Antony Blinken and other U.S. senior officials to visit China this year. Following her meetings, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets.

Persons: Joe Biden, Xi Jinping, Roosevelt, Mandel Ngan, Shu Jueting, Biden, Antony Blinken, Scott Kennedy, International Studies Shu, Wang Wentao, Gina Raimondo, Shu, Raimondo, Wang, CNBC's Eunice Yoon Organizations: White, Afp, Getty, BEIJING, China's Ministry of Commerce, Ministry of Commerce, CNBC, U.S, Scott, Scott Kennedy Center for Strategic, International Studies, Commerce, Center for Strategic, . Commerce Locations: Washington ,, China, Bali, U.S, Bali , Indonesia, Beijing, Shanghai, America

[1/2] Pedestrians walk on an overpass near skyscrapers at the Central Business District (CBD) in Beijing, China August 21, 2023. China's prolonged economic slowdown this year comes amid weakening demand both at home and globally, a property crisis and rising unemployment. "China will continue to expand market access, comprehensively optimise the business environment ... and protect the rights and interests of entrepreneurs in accordance with the law." Eskelund, who is also Chief Representative for Danish shipping giant Maersk in Greater China and Northeast Asia, said: "I think China is evolving. This has come as European leaders have also emphasised derisking their economic ties with China.

Persons: Florence Lo, Jens Eskelund, crackdowns, Eskelund, Valdis, Laurie Chen, Shri Navaratnam Organizations: Central Business, REUTERS, European Chamber of Commerce, Reuters, China ., China . European Union, Thomson Locations: Beijing, China, BEIJING, Greater China, Northeast Asia, Danish, China . European

☆ German industry urges reduced dependency after China export controls
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

The Chinese export restrictions "illustrate the urgency for Europe and Germany to quickly reduce their dependency on critical raw materials now," said Wolfgang Niedermark, a member of the BDI German industrial association. In a position paper, the group said that Germany's and Europe's dependency on mineral raw materials such as rare earths from China was "already greater than that of oil and natural gas from Russia". Another German industry group, Bitkom, called for steps to massively increase Germany and Europe's digital sovereignty . Last week, European Union member states adopted the Critical Raw Materials Act, a centrepiece of the EU strategy to ensure industry can compete with the United States and China. The BDI's Niedermark said that agreement to recycle and process raw materials sent an important signal but called for a similar push to establish domestic mining in Europe.

Persons: Wolfgang Niedermark, Bernhard Rohleder, Niedermark, Rachel More, Hakan Ersen, Madeline Chambers, Miranda Murray, Emelia Organizations: Union, Thomson Locations: BERLIN, Europe, China, Germany, Russia, Berlin, Ukraine, Beijing, United States

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