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China Evergrande has filed for US Chapter 15 bankruptcy protection. Chapter 15 protects the US assets of non-US companies undergoing restructurings. Tianji Holdings, an Evergrande affiliate, also sought Chapter 15 bankruptcy protection on Thursday, per the filing. Evergrande's Chapter 15 filing mentions ongoing restructuring proceedings in Hong Kong and the Cayman Islands. Evergrande's Chapter 15 filing came amid fears of widening economic woes in China as the country's real-estate crisis emanates.
Persons: China Evergrande, , Evergrande, China's, Jimmy Fong Organizations: US, Service, China, Tianji Holdings, Evergrande's, Hong Kong Stock Exchange, Zhongrong International, China Evergrande Group, Bankruptcy, Southern, of Locations: China, Wall, Silicon, Hong Kong, Cayman Islands, Guangzhou, of New York, Manhattan
SHANGHAI/HONG KONG, Aug 17 (Reuters) - Faced with a liquidity crisis, Zhongzhi Enterprise Group will conduct a debt restructuring, the Chinese asset manager has told investors, as a deepening property sector downturn raises fears about spillover risks to the broader financial sector. Beijing-based Zhongzhi, which has sizable exposure to real estate, has stopped payment to investors in all investment products, its management told investors in a meeting on Wednesday, a video seen by Reuters showed. Zhongzhi's financial trouble is the latest challenge for Chinese authorities as they battle to contain a worsening property sector crisis and revive a faltering recovery in the world's second-largest economy. Zhongzhi has hired one of the Big Four accounting firms to conduct a comprehensive audit of the company, and is seeking strategic investors, its management told investors in Wednesday's meeting. Anxious retail investors are bombarding listed companies with questions about their exposure to Zhongrong after missed payments by the trust company triggered fears of contagion across the country's financial system.
Persons: Morgan Stanley, Zhongzhi, Lehman, Evergrande, Jason Xue, Clare Jim, Sumeet Chatterjee, Jacqueline Wong, Jamie Freed Organizations: Zhongzhi Enterprise, Reuters, Big, International Trust Co, Citigroup, Zhongrong International Trust, China Evergrande, HK, Energy Vehicle Group, Evergrande, Shanghai, Thomson Locations: SHANGHAI, HONG KONG, Beijing, Wednesday's, China, China's, Shanghai, Hong Kong
Bloomberg | Bloomberg | Getty ImagesJPMorgan raised its global emerging markets corporate high-yield default forecast, largely due to rising contagion fears in China's property sector from a possible Country Garden default. It also raised its Asia high-yield default rate forecast to 10% from 4.1% — that figure drops to just 1%, if China property is excluded. JPMorgan expects China property to account for nearly 40% of all default volumes in 2023, followed by 35% from Russian corporates and 12% from Brazilian issuers. watch nowThe magnitude of the increase in JPMorgan's default risk assessment underscores fears that a Country Garden debt default will have a far broader ripple effect on the Chinese property sector and the broader economy. In the same note, JPMorgan said a Country Garden default could add $9.9 billion to the year-to-date global emerging markets high-yield corporate default tally, taking the total default volume for the Chinese property sector to $17 billion to date in 2023.
Persons: JPMorgan Organizations: HK, Country Garden Holdings Co, Bloomberg, Getty, JPMorgan, China Evergrande Group Locations: Baoding, Hebei province, China, China's, U.S, Asia, Russian
REUTERS/Aly Song/File PhotoHONG KONG/NEW YORK, Aug 15 (Reuters) - Chinese fears of a spillover from missed payments on some shadow banking linked trust products and worsening consumer sentiment are expected to hasten a policy response to revive the country's cash-starved property sector. Zhongrong International Trust Co, which traditionally had sizable real estate exposure, has recently missed repayments on some investment products, fuelling contagion fears. 'CONTAGION'The trust sector had been a major fundraising channel for property developers seeking rapid expansion. The outstanding value of trust products invested in the property sector was 1.2 trillion yuan as of end-2022, down about 30% year-on-year. Still, exposure to the real estate sector varies from different trust firms.
Persons: Aly, Yan Wang, Nomura, Arthur Kroeber, Kamil Dimmich, Phillip Wool, Wool, Vidya Ranganathan, Laura Matthews, David Randall, Ziyi Tang, Sumeet Chatterjee, Alexander Smith Organizations: REUTERS, HONG KONG, Trust Co, Barclays, International Trust, South Capital LLP, China Equity ETF, Beijing, Thomson Locations: Shanghai, China, HONG, Zhongrong, Beijing, New York, London, Singapore, Summer Zhen
Sydney CNN —Two matches stand between Australia and a historic Women’s World Cup win, and the nation – perhaps prematurely – is debating the pros and cons of a national holiday should the squad defeat Spain on Sunday. Soccer mania has swept the country in a culture where rugby, cricket and the local “Aussie Rules” football usually dominates. Australia players celebrate after winning their quarterfinal match against France in Brisbane, August 12. Zara Borcak beams as she holds the jersey Sam Kerr gave her after Saturday's match against France, August 12, 2023. Maybe it’s because the last time the country came together to fight a common cause, they were desperately trying to stay apart.
Persons: Tertius Pickard, Asanka Brendon Ratnayake, Sam Kerr, , , , Zara Borcak, Selma Borcak, Anthony Albanese, Albanese, Andrew Cornaga, Ben Crowe, Crowe, Eleanor Roosevelt, Ash Barty, it’s, ” Mackenzie Arnold of Australia, Norvik, that’s, Mackenzie Arnold, I’ve Organizations: Sydney CNN, Spain, Sunday, England, Australia, France, FIFA, Reuters Sporting, – Basketball Australia, AFL, Australian Football League, Australian Broadcasting Corporation, , NRL, , Sweden, Wimbledon, Richmond AFL Locations: Australia, France, Australia’s, United States, Brisbane, Sydney, Green, Brazil, Zara, Spain, Eden, Auckland, Denmark, Melbourne
Treasury Secretary Janet Yellen said China's economic snags pose some risks to the US. "China's slowdown will have the largest impact on its Asian neighbors, but there will be some spillovers to the United States." She maintained that the US labor market remains strong while inflation trends downward after the Federal Reserve's 11 interest rate hikes. "When Americans are asked about their own personal financial situation, 70% or more say they feel very good," Yellen said. The Treasury chief's comments follow President Joe Biden's remarks that China's economy is a "ticking time bomb," given its growth and demographic issues.
Persons: Janet Yellen, Yellen, they're, Joe Biden's, They've, Biden, David Dollar Organizations: Service, Bloomberg, Federal, Reuters, Brookings Institution Locations: United States, Wall, Silicon, Las Vegas, Utah, Beijing, China
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Shares of Country Garden dived 16.3% to HK$0.82 by noon, dragging down the Hang Seng Mainland Properties Index (.HSMPI) which dropped 3.9%. According to company registry portal Qichacha, a services unit of Country Garden offloaded its 51% stake in a Wuhan-based network technology company, while chief strategic officer of Country Garden Services also resigned from the firm's chairman. Country Garden Services did not immediately respond to request for comment. In September alone, Country Garden may need to repay more than 9 billion yuan ($1.25 billion) worth of onshore bonds.
Persons: Aly, HONG KONG, Dickie Wong, Wong, Longfor, Clare Jim, Yuhan Lin, Jacqueline Wong Organizations: Shanghai Country Garden, REUTERS, HK, China Evergrande, Mainland Properties, Reuters, Garden Services, Garden, Country Garden Services, Kingston Securities, State, Longfor, Seazen, Thomson Locations: Shanghai, China, HONG, HK, Wuhan, Hong Kong, Beijing
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File PhotoHONG KONG, Aug 14 (Reuters) - Chinese property giant Country Garden's (2007.HK) shares plunged to fresh record low on Monday, while its offshore bonds were also pressured after its onshore paper was suspended from trading as its debt problems deepened. Shares of Country Garden shed more than 15% to HK$0.83 in morning trading, dragging down the Hang Seng Mainland Properties Index (.HSMPI) which dropped 4.6%. Country Garden's offshore bonds also eased, with a few trading at the lower end of 6 cents on the dollar. Once considered a more financially sound developer, Country Garden's woes added to spillover concerns across a property market already grappling with weak buyer demand.
Persons: Aly, HONG KONG, Clare Jim, Jacqueline Wong Organizations: Shanghai Country Garden, REUTERS, HK, Mainland Properties, Finance, Thomson Locations: Shanghai, China, HONG, Hong Kong
Real estate problems persist with once-healthy developer Country Garden now on the brink of default. Real estate dragChina's massive real estate sector, where the majority of household wealth is parked, has reemerged as an area of concern that it could drag down the broader economy. Developer Country Garden announced over the weekend it was suspending trading in at least 10 of its mainland-China traded yuan bonds. The more the government tries to help the real estate industry, the longer it takes for the industry to find a reasonable bottom. State-owned developers have also fared better in terms of recent sales than non-state-owned developers, data show.
Persons: Aly Song, Lu Ting, corporates, Xiangrong Yu, Goldman Sachs, Louis Lau Brandes, Louis Lau Organizations: Bund, Reuters, Nomura, Citi New, Citi, Garden, ., Country Garden's U.S, China U.S, Goldman, Louis Lau Brandes Investment Partners, Brandes Investment Partners Locations: Pudong, Shanghai, China, Reuters BEIJING, Japan, today's China, corporates, State, South Korea
The warning is a "prelude to an ultimate credit event," paving the way for debt restructuring, per JPMorgan. Country Garden racked up 1.4 trillion Chinese yuan, or almost $200 billion, in liabilities at the end of 2022. It also faces 7.8 billion Chinese yuan, or $1.1 billion, in payments for notes and bonds in September. Another analyst feels Country Garden could restructure if it's unable to raise cash in time. Country Garden and CICC did not immediately respond to requests from Insider for comment.
Persons: JPMorgan Chase, Karl Chan, Nicholas Chen, CreditInsights, Chen, Iris Chen, Yang Huiyan, CICC Organizations: JPMorgan, Service, Garden, China International Capital Corporation, Reuters, Nomura, Bloomberg, Hong Locations: Wall, Silicon, China, Hong Kong, Beijing
A United Nations operation to transfer more than one million barrels of oil from a decaying tanker into another ship off the coast of Yemen has been completed, officials said on Friday, averting a catastrophic spill that could have devastated marine life and communities across the Red Sea. But with one crisis averted, another looms: The recovery vessel could be stranded until thorny negotiations over who owns the transferred oil are resolved. For years, both of those governments have claimed ownership of the oil on the decaying tanker, called the FSO Safer, hoping to gain desperately needed revenue from its sale. “The most pressing step was to prevent oil spillover from the deteriorating FSO Safer,” said Ahmed Nagi, a senior Yemen analyst at the International Crisis Group, an organization that researches conflicts. “Now, with the salvage operation concluded, we find ourselves returning to the difficult point concerning the oil inside the tanker.”
Persons: , Ahmed Nagi Organizations: Nations, FSO, Crisis Group Locations: Yemen
China's real estate market roiled by default fears again
  + stars: | 2023-08-10 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +6 min
Qilai Shen | Bloomberg | Getty ImagesBEIJING — Two years after Evergrande's debt troubles, worries about China's real estate sector are coming to the forefront again. In late July, its top leaders indicated a shift toward greater support for the real estate sector, paving the way for local governments to implement specific policies. For the last several years, Chinese authorities have attempted to curb debt-fueled speculation in the country's massive — and hot — real estate market. Real estate and related industries have accounted for about a quarter of China's economy. He pointed out that since China started its deleveraging campaign in 2016, it is very unlikely the state would step in to bail out real estate developers.
Persons: Qilai Shen, Dalian Wanda, Liu Haibo, Sandra Chow, Nomura, Chow, Evergrande, Redmond Wong, , Wong, Vanke, that's Organizations: Country Garden Holdings Co, Bloomberg, Getty, BEIJING, Reuters, CNBC, Country, Asia Pacific Research, CreditSights, Fitch, Saxo Markets Hong, China's, House Research, Stock, Poly Development, Research Locations: Baoding, Hebei province, China, Dalian, Hong Kong, Beijing, Saxo Markets Hong Kong
EQT’s India IVF buyout hits on fertile themes
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +2 min
MUMBAI, Aug 1 (Reuters Breakingviews) - Private equity giant EQT (EQTAB.ST) is buying a majority stake in the country’s largest fertility clinic chain Indira IVF via its Asian unit BPEA EQT, valuing the firm at $1.1 billion. Indira IVF serves some of the 15% of Indian couples experiencing infertility, a problem on the rise in the world’s most populous country as people marry later and air pollution stifles the ability to conceive naturally. EQT’s deal also is another bet on the changing demands of the South Asian nation’s middle class. Thanks to the gradual maturing of the private equity business, both purchases come with the added benefit of the buyer taking control. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Indira, EQT’s, Shritama Bose, Steve Cohen, , Una Galani, Aditya Munjuluru Organizations: Reuters, Blackstone, HDFC, Twitter, Sequoia, Walmart, Thomson Locations: MUMBAI, Temasek
Japan market rally fails to mask Nomura’s woes
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +2 min
It also powered a near-fivefold increase in pre-tax earnings at the bank’s retail unit from the same period last year. Nomura’s own stock has also benefitted, though its 20% rise this year to a two-year high lags the broader market. And the rally did nothing to fix the abysmal underperformance at its mainstay wholesale division. Revenue at the unit that comprises the volatile investment banking and trading businesses fell 4% to 191 billion yen ($1.3 billion). They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Nomura, Morgan Stanley, Kentaro Okuda, Steve Cohen, Antony Currie, Oliver Taslic Organizations: Reuters, Revenue, Global, Twitter, Sequoia, Thomson Locations: SINGAPORE, India
BP appeal requires more than short-term sweeteners
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Aug 1 (Reuters Breakingviews) - Bernard Looney is throwing cash at BP’s (BP.L) shortcomings. In the three months to the end of June the $109 billion European oil major missed expectations by a wide margin, with net income falling 70% to $2.6 billion year-on-year. Wael Sawan, his counterpart at rival Shell (SHEL.L) who only took the helm this year, has refocused his company on “molecules” – from oil and gas to low-carbon hydrogen and biofuels. But Shell has done better, and Bernstein analysts recently estimated BP was trading at a yawning 87% discount to the sum of its parts. The risk for Looney is that if investors want to own one European oil major, it won’t be his.
Persons: Bernard Looney, Looney, Wael Sawan, Shell, Bernstein, won’t, Yawen Chen, Steve Cohen, , George Hay, Pranav Kiran Organizations: Reuters, Shell, outperforming, Exxon Mobil, Chevron, BP, Twitter, Sequoia, Thomson Locations: outperforming U.S, India
Heineken’s pricing goof has a strategic spillover
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +2 min
LONDON, July 31 (Reuters Breakingviews) - Dolf van den Brink has had a six-month-long happy hour. Heineken’s misstep occurred even though the company increased prices for its beers by an average of 13% from a year earlier. While consumer goods groups like Unilever (ULVR.L) managed to hike without losing much business, Heineken’s 6% hit to beer sales in the first half suggests van den Brink has not. In Vietnam, which analysts at Bernstein estimate accounts for nearly half of that region’s sales, Heineken admitted its pricing was mistimed. Van den Brink seems confident the worst is over for 2023, because all his price hikes have already happened.
Persons: van den Brink, misstep, Bernstein, Van den Brink, Yawen Chen, , George Hay, Oliver Taslic Organizations: Reuters, Heineken, Unilever, Walmart, BT boss’s, of Japan, Thomson Locations: Vietnam, United States
Sequoia picks the right moment to ditch deadwood
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +2 min
The $85 billion venture firm downsized the commitments it expects its investors to make to vehicles targeting cryptocurrency and its own peers, the Wall Street Journal reported. With those investors, known as limited partners, now less pressed to flee private markets, it’s a smart time for Sequoia to help them shift into more promising opportunities. As last year's downturn tanked their public investments, LPs found themselves relatively overinvested in still-highly-valued private markets, forcing them to pull back from the likes of venture funds. As public markets recover – the S&P 500 Index (.SPX) is up almost 20% this year – this “denominator effect” is fading, a Capstone Partners survey suggests. And with LPs once again keen on private markets, they may be more likely to stick around, despite Sequoia’s self-admitted mistakes on investments like now-bankrupt FTX.
Persons: Sequoia’s, Anita Ramaswamy, , Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Wall Street Journal, Capstone Partners, Twitter, Walmart, BT boss’s, Thomson Locations: Sequoia
Even with alpha strikeout, Steve Cohen scores
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, July 31 (Reuters Breakingviews) - Hedge fund mastermind Steve Cohen is best known for his savvy trades, but it doesn’t take an investing whizz to make money in baseball. His New York Mets are one of the worst teams in the league despite a record-setting $364 million payroll. Cohen bought full ownership of the club in 2020 for $2.4 billion and spent lavishly on the roster. Even so, the Mets are already worth $500 million more than Cohen paid, according to Forbes, a nice uplift for substandard performance. Dan Snyder just sold his woeful Washington Commanders for $6 billion; Snyder paid $800 million for the team and its stadium in 1999.
Persons: Steve Cohen, Cohen, Max Scherzer, Dan Snyder, Snyder, Michael Jordan, Jennifer Saba, , Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, New York Mets, Mets, Forbes, SAC Capital Advisors, Charlotte Hornets, Twitter, Sequoia, Walmart, BT boss’s, Thomson
WARSAW, July 29 (Reuters) - A group of a hundred soldiers from the Russian Wagner group have moved closer to the Belarusian city of Grodno near the Polish border, Polish Prime Minister Mateusz Morawiecki said on Saturday. Earlier this month, Poland began moving more than 1,000 troops to the east of the country amid rising concerns that the presence of Wagner fighters in Belarus could lead to increased tension on its border. Most likely they (the Wagner personnel) will be disguised as the Belarusian border guard and help illegal migrants get to the Polish territory (and) destabilise Poland," Morawiecki said at a press conference in Gliwice, western Poland. "They will most likely try to enter Poland pretending to be illegal migrants and this poses additional threats," Morawiecki said. The following day, some Wagner fighters arrived at the training ground of the 38th airborne assault brigade outside the city of Brest, just a few miles from the Polish border.
Persons: Russian Wagner, Mateusz Morawiecki, Wagner, Morawiecki, Anton Motolko, Russia's, Yevgeny Prigozhin, Vladimir Putin, Agnieszka Pikulicka, David Holmes Organizations: WARSAW, Warsaw Pact, NATO, Reuters, Thomson Locations: Russian, Belarusian, Grodno, Polish, Poland, Warsaw, U.S, Ukraine, Belarus, Gliwice, Lithuanian, Kaliningrad, Africa, Brest, Moscow, Russia
It was showtime at the youth swine exhibition, and the pig barn was bustling. The competitors, ages 3 to 21, were practicing their walks for the show ring and brushing pig bristles into place. As he slipped into one pen, a pig tried to nose its way out, then started nibbling his shoelaces. Bowman prefers not to enter the pens, he said, as he wiped gauze across the animal’s nose. He soon spotted a more appealing subject: a pig sticking its nose out from between the bars of its enclosure.
Persons: Andrew Bowman, Bowman, Organizations: showtime, Ohio State University Locations: New Lexington , Ohio, Wuhan, China
Ying Tang | NurPhoto | Getty ImagesThe Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion and globalization. The ruling Chinese Communist Party has set a growth target of 5% for 2023, lower than usual and notably modest for a country that has averaged 9% annual GDP growth since opening up its economy in 1978. For the global economy, however, the most immediate spillover of a Chinese slowdown will likely come in commodities and the industrial cycle, as China reconfigures its economy to reduce its reliance on a property sector that has been "absorbing and driving commodity prices." "This shift from a complementary economy, where Beijing and Berlin kind of benefit from each other, to now being competitors is another big consequence of the structural slowdown," Green said. He noted that beyond the immediate loss of demand for commodities, China's reaction to its shifting economic sands will also have "second order impacts" for the global economy.
Persons: Ying Tang, Julian Evans, Pritchard, Evans, it's, Xi Jinping's, Rory Green, Green Organizations: Beijing, Communist Party, Capital Economics, Triple, TS Lombard, CNBC Locations: Suzhou, Shanghai, China, Asia, Beijing, Japan, Brazil, Australia, Germany, Berlin
The US dollar has been the world's reserve currency for decades, but its dominance is fading. US monetary policies, the strong USD, and structural shift in the global oil trade also contribute. Here are three other reasons countries around the world are attempting to line up plans to possibly move away from a dollar-dominated world. The arrangement was formalized in 1945 when the oil-giant country Saudi Arabia and the US reached a historic deal wherein Saudi Arabia would sell its oil to America only using the greenback. In return, Saudi Arabia would reinvest excess dollar reserves into US treasuries and companies.
Persons: Valéry Giscard d'Estaing, , Narendra Modi's, Luiz Inácio Lula da Silva, It's, Donald Trump, wasn't, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, Sarah Miller Organizations: Service, International Monetary Fund, Wilson, Reserve Bank of, Indian, Reuters, Allianz, Global, US, Washington Post, Energy Intelligence Locations: Russia, Wall, Silicon, Western, Ukraine, Washington, Brazil, Argentina, Bangladesh, India, France, Reserve Bank of India, China, South Africa, Saudi Arabia, America, Saudi
July 20 (Reuters) - China's frail growth could weigh on companies with exposure to the world's second-largest economy, including Apple (AAPL.O), big chipmakers and luxury retailers as they report quarterly results in the next few weeks. China accounted for 36% of NXP's revenue last year and half of Texas Instruments' revenue. Analysts estimate NXP reporting a 3.2% drop in quarterly revenue, with Texas Instruments' revenue tumbling 16%, which would be its steepest drop since 2009, according to Refinitiv. The specialty glass maker blamed "anticipated recession-level demand" for weak results in its previous quarterly report last April. Coffee maker Starbucks (SBUX.O) in May reported quarterly results that beat estimates, powered by recovering demand in China.
Persons: Ross Mayfield, Baird, Cartier, Richemont, Bernstein, Tesla, Jonathan Golub, hobble, David Klink, Noel Randewich, Chavi Mehta, Caroline Valetkovitch, Mimosa Spencer, David Gaffen, Nick Zieminski Organizations: Apple, U.S, Shanghai, ABB, HK, NXP Semiconductors, Texas, Texas Instruments, . Credit Suisse Chief, Equity, Corning Inc, Samsung Electronics, Huntington Private Bank, Reuters, Thomson Locations: China, U.S, Swiss, Asia, ., China . U.S, Washington, Beijing, Oakland , California, Bangalore, New York, Paris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRejection rates on new loan applications have hit the highest since 2013, says KPMG's Diane SwonkDiane Swonk, chief economist at KPMG, and CNBC's Steve Liesman join 'The Exchange' to discuss increased rejection rates on new loans, the Fed's policy plan through November, and the spillover effects of ongoing labor strikes in America.
Persons: Diane Swonk Diane Swonk, Steve Liesman Organizations: KPMG Locations: America
Treasury Secretary Janet Yellen concluded her trip to China on Sunday with an appeal for both nations to find 'a way to live together.' 'We believe that the world is big enough for both of our countries to thrive,' she said. We believe that the world is big enough for both of our countries to thrive," she said, according to a transcript of her speech on Sunday. John Kerry, the U.S. special envoy for climate change, is slated for a visit to China later this month, per Bloomberg. Despite Yellen's optimism, at least one analyst feels that relations between the US and China remain tenuous.
Persons: Janet Yellen, Yellen, Biden, Yellen's, Antony Blinken's, Xi Jinping, John Kerry, Vishnu Varathan Organizations: Service, US, of Commerce, Eurasia Group, Biden, U.S, Bloomberg, Mizuho Bank's Locations: China, Wall, Silicon, Mizuho Bank's Asia, Oceania
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