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US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
ft.com/content/0d098011-0ff5-4125-8cbb-5a5b281c9bd0
Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
IMF Warns Surge in U.S., China Debt Could Have ‘Profound’ Impact on Global Economy
wsj.com/economy/global/imf-warns-surge-in-u-s-china-debt-could-have-profound-impact-on-global-economy-c3758d81
Million-Dollar Jobs for Star Analysts at Risk in China Research Pullback: Brokerage analysts in China are confronting a harsh new reality.
bloomberg.com/news/articles/2024-04-17/million-dollar-analyst-jobs-at-risk-in-china-research-pullback
Biden is seeking higher tariffs on Chinese steel as he courts union voters: President Joe Biden wants to triple U.S. tariffs on steel from China ...
apnews.com/article/biden-china-steel-tariffs-union-workers-0399b0450b67086ca86edc43ac45e5e9
Quick Glance: Joe Biden Calls for Significant Increase in Tariffs on Chinese Steel
- US President Joe Biden is pushing for an increase in tariffs on Chinese steel and aluminium to strengthen union support in the swing state of Pennsylvania.
- During a meeting with United Steelworkers union members in Pittsburgh, Biden calls on trade representative Katherine Tai to raise the tariffs from the current average of 7.5 percent.
- The main focus of the measures is to combat China's new export surge and the ongoing price pressure that makes it difficult for American steel companies to compete.
- The Biden administration's decision to increase tariffs is expected to impact recent efforts by Washington and Beijing to stabilize relations.
Apple might start making iPhones in Indonesia, CEO Tim Cook says: Apple's chief executive met with Indonesia's president as the company continues a manufacturing ...
qz.com/apple-iphone-manufacturing-indonesia-china-tim-cook-1851415318
Apple CEO says looking into possibility of building manufacturing facility in Indonesia
reut.rs/3W2BD8K
China’s better economic growth hides reasons to worry: The country’s leaders are too complacent about deflation
economist.com/finance-and-economics/2024/04/16/chinas-better-economic-growth-hides-reasons-to-worry
Is China growing tired of Russia’s war in Ukraine?: There are signs that Beijing may be getting cold feet about its deepening entanglement.
aljazeera.com/opinions/2024/4/17/is-china-growing-tired-of-russias-war-in-ukraine
ASML Q1 bookings miss forecast, but China sales hold up: ASML , the largest supplier of equipment to computer chip makers, reported weaker than expected ...
reuters.com/technology/asml-reports-q1-earnings-13-billion-worse-than-expected-new-bookings-2024-04-17/
Japan’s China Reckoning: Why Tokyo Must Strengthen Its Ties to Democratic Allies: Why Tokyo must strengthen its ties to democratic allies.
foreignaffairs.com/china/japans-china-reckoning
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Quick Glance: The Night Iran's Missile Show Rattled Israel
- In Tehran, 'Operation True Promise' launched an unprecedented aerial assault on Israel.
- The direct clash between powerful militaries showcased Israel's defense and Iran's display of power.
- Despite minor damages and injuries, the question remains whether this attack signifies further escalation or the start of a war.
- The missile and drone strikes resulted in minimal damage, with Israel and allies successfully intercepting most projectiles.
And Scholz smiles with pain: The Chancellor in China: Three bitter insights: It's good that Chancellor Olaf Scholz traveled to China. Unfortunately there wasn't ...
n-tv.de/politik/Der-Kanzler-in-China-Drei-bittere-Erkenntnisse-article24877932.html
Quick Glance: Scholz Organizes Crisis Diplomacy in China
- Scholz condemns Iran's attacks on Israel and plans crisis communication with G7 partners.
- China trip focusing on economy and geopolitical role, despite dilemma in relations.
- Business delegation accompanies Scholz, de-risking in other countries, export wave heading towards Germany.
- Scholz aims to influence China regarding Ukraine conflict and Iran crisis, despite existing dependencies.
China Extends Clean-Tech Dominance Over US Despite Biden's IRA Blueprint: There are fresh warning signs for American supply chains in solar ...
bloomberg.com/news/newsletters/2024-04-16/china-extends-clean-tech-dominance-over-us-despite-biden-s-ira-blueprint
At Chinese trade fair, exporters despair their goods are 'as cheap as cabbage': Wu Huazhan's Chinese television factory used to impose minimum orders to manage ...
reuters.com/markets/commodities/chinese-trade-fair-exporters-despair-their-goods-are-as-cheap-cabbage-2024-04-16/
China’s GDP jumps 5.3% in first quarter: Growth rate beats expectations as Beijing tries to steer manufacturing-led economic revival
ft.com/content/211467a7-5f5f-4cc7-b6fd-cd4a34eb582e
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LVMH shares rise after luxury giant's Q1 sales offer element of reassurance: LVMH shares rose on Wednesday, after first quarter sales figures from the world's ...
reuters.com/business/retail-consumer/lvmh-shares-rise-after-luxury-giants-q1-sales-offer-element-reassurance-2024-04-17/
Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs as deals slump
channelnewsasia.com/business/morgan-stanley-hsbc-china-cutting-dozens-asia-investment-banking-jobs-layoffs-4271861
Humble China street vendor makes sacrifices to support academically gifted daughters who gain PhD and master’s degree
scmp.com/news/people-culture/trending-china/article/3256292/humble-china-street-vendor-makes-sacrifices-support-academically-gifted-daughters-who-gain-phd-and
Oil prices dip as demand concerns outweigh Middle East supply fears: Oil prices eased in early trade on Wednesday as worries about global demand due to weak ...
reuters.com/business/energy/oil-prices-dip-demand-concerns-outweigh-middle-east-supply-fears-2024-04-17/
China’s Growing Plastics Dominance Is Squeezing Out Asian Rivals: China’s rapidly expanding petrochemicals industry is making life increasingly difficult for ...
bloomberg.com/news/articles/2024-04-16/china-s-growing-plastics-dominance-is-squeezing-out-asian-rivals
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Russia is sure to lose in Ukraine, reckons a Chinese expert on Russia: Feng Yujun says the war has strained Sino-Russian relations
economist.com/by-invitation/2024/04/11/russia-is-sure-to-lose-in-ukraine-reckons-a-chinese-expert-on-russia
China's Q1 GDP growth surpassed expectations, data shows: China's economy grew faster than it was forecast in the first quarter, data released on Tuesday ...
foxbusiness.com/economy/chinas-q1-gdp-growth-surpassed-expectations-data-shows
Tokyo Electron expected to see profit rebound on AI demand: TOKYO -- Japanese manufacturers of chipmaking equipment such as Tokyo Electron are attracting analyst ...
asia.nikkei.com/Business/Tech/Semiconductors/Tokyo-Electron-expected-to-see-profit-rebound-on-AI-demand
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The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells
ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750
China’s Rising Youth Unemployment Needs Attention, Official Says: China’s rising youth unemployment rate needs more scrutiny, a government official warned ...
bloomberg.com/news/articles/2024-04-16/china-s-rising-youth-unemployment-needs-attention-official-says
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The Perception Game: How Are China and the US Viewed in Southeast Asia?: The State of Southeast Asia Survey 2024 reveals ASEAN's growing polarization amid ...
thediplomat.com/2024/04/the-perception-game-how-are-china-and-the-us-viewed-in-southeast-asia/
What China’s central bank and Costco shoppers have in common: Hint: it is not a fondness for cryptocurrencies
economist.com/finance-and-economics/2024/04/11/what-chinas-central-bank-and-costco-shoppers-have-in-common
EU Gets Tougher With China After Being Played : Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European ...
bloomberg.com/news/newsletters/2024-04-16/eu-gets-tougher-with-china-after-being-played
IMF Fiscal Monitor: US, China Debt Pose Risks for Global Public Finances: The world’s two great economic rivals, China and the US, will drive much of the ...
bloomberg.com/news/articles/2024-04-17/imf-says-us-china-debt-pose-risks-for-global-public-finances
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China’s Big Data Release to Show If Economy Rebounded
bloomberg.com/news/live-blog/2024-04-16/china-quarterly-gdp-key-data
House panel says China subsidizes fentanyl production to fuel crisis in the U.S.: A report released Tuesday by a House select committee says China is directly ...
pbs.org/newshour/politics/house-panel-says-china-subsidizes-fentanyl-production-to-fuel-crisis-in-the-u-s
Quick Glance: China's Subsidization of Fentanyl Production Intensifying Crisis in the U.S.
- A report from a special House committee states that China is fueling the Fentanyl crisis in the U.S. directly by subsidizing the manufacturing of materials used by traffickers outside the country to produce the drug.
- The committee found that the Chinese government provides tax rebates for the production of specific Fentanyl precursors and other synthetic drugs as long as they are sold outside of China.
- The report highlights that China not only subsidizes the manufacturing of precursor chemicals but also thwarts investigations into illegal manufacturers by warning the targets when formal requests for assistance are made by U.S. law enforcement.
- Former Attorney General William Barr recommended that the U.S. should leverage its trade and economic power to push for stronger enforcement from Chinese authorities, and victims should take civil actions against companies and individuals involved in distributing the precursors and synthetic drugs.
Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
ft.com/content/7cc89622-66a7-4b1c-9b2e-138f121a4731
Trump plan to devalue dollar a gift to China: TOKYO — Donald Trump would make currency devaluation great again in a second term. Surrogates for the former US ...
asiatimes.com/2024/04/trump-plan-to-devalue-dollar-a-gift-to-china/
China’s GDP grows 5.3% in the first quarter of 2024: China’s economy grew stronger than expected at the start of this year, partly thanks to robust factory ...
cnn.com/2024/04/15/business/china-q1-gdp-growth-intl-hnk/
Quick Glance: China's Economy Surprisingly Strong in Q1 2024
- China's economy experienced stronger growth than anticipated in the first quarter of this year, primarily due to the thriving high-tech manufacturing sector.
- In the initial quarter, industrial production saw a 6.1% increase compared to the previous year, driven by the flourishing high-tech industry. Notably, the manufacturing of 3D printing devices, electric vehicle charging stations, and electronic components surged by approximately 40% year-over-year.
- A recent official report highlighted a rise in China's manufacturing purchasing managers' index during the first quarter, marking the first increase in six months. Moreover, the Caixin/S&P Manufacturing PMI, a privately conducted survey, achieved its highest level in over a year as foreign demand grew.
- China's economy grew by 5.2% in 2023. Despite a significant improvement from the previous year, it still represented one of the country's weakest economic performances in more than thirty years.
Why it’s China’s turn now: In the second half of the 20th century, scholars and macrohistorians like Alvin Toffler, Francis Fukuyama and Paul Kennedy developed ...
asiatimes.com/2024/04/why-its-chinas-turn-now/
Indonesia's plunging rupiah twists the policy plot
reuters.com/markets/asia/indonesias-plunging-rupiah-twists-policy-plot-2024-04-17/
China’s Xi Jinping might have to revise his five-year plan: China’s latest economic data highlights a glut of excess capacity and a flood of cheap exports ...
smh.com.au/world/asia/china-s-xi-jinping-might-have-to-revise-his-five-year-plan-20240417-p5fkem.html
Olaf Scholz has left German medium-sized businesses in the lurch in China: Chancellor Olaf Scholz doesn't dare mention China's anti-market subsidy policy by name ...
wiwo.de/politik/deutschland/staatsbesuch-china-hat-den-deutschen-mittelstand-ins-visier-genommen/29759344.html
China: economy needs skilled workers, academics are produced: For two decades, the Chinese authorities have been trying to create a dual training system based on ...
nzz.ch/pro-global/fehlsteuerung-durch-planwirtschaft-china-produziert-viel-zu-viele-akademiker-brauchte-aber-facharbeiter-ld.1826085
China's iron ore imports rise as inventories build: Russell: (The opinions expressed here are those of the author, a columnist for Reuters.)
reuters.com/world/china/chinas-iron-ore-imports-rise-inventories-build-russell-2024-04-16/
China economy grows faster than expected in first quarter: Official figures also highlighted the challenges faced by the country's crisis-hit property sector.
bbc.com/news/business-68823396
Biden’s polite Trumpism on China: Communication matters precisely because the structural problem between the pair is probably insoluble
ft.com/content/da53d88b-1630-4b59-a2c6-11a848fb8d05
China's Q1 GDP grows faster than expected on policy support: China's economy grew faster-than-expected in the first quarter, data showed on Tuesday ...
reut.rs/49Fq8Ho
Internet influencers, celebrities among 2,000 invited to Hong Kong in tourism drive in 2023, sparking questions on cost to taxpayers
scmp.com/news/hong-kong/hong-kong-economy/article/3259382/internet-influencers-celebrities-among-2000-invited-hong-kong-tourism-drive-2023-sparking-questions
China’s economic growth hits 5.3% | Africanews: The government announced Tuesday that the world's second-largest economy grew at a rate of 5 ...
africanews.com/2024/04/16/chinas-economic-growth-hits-53/
Five Things You Need to Know to Start Your Day: Asia: Good morning. Tensions simmer in the Middle East. US stocks fall below key threshold ...
bloomberg.com/news/newsletters/2024-04-15/five-things-you-need-to-know-to-start-your-day-asia
China's federation promises action after half marathon debacle: The Chinese Athletics Association (CAA) has vowed to strengthen the supervision of its ...
reuters.com/sports/athletics/chinas-federation-promises-action-after-half-marathon-debacle-2024-04-17/
China is a tale of at least two economies: An optimist will look at China’s latest GDP figures released on Wednesday and argue they signal that the best of times ...
reut.rs/4aMeiw2
VW to roll out new architecture with Xpeng to cut China EV costs: Volkswagen said on Wednesday it has developed a new architecture for intelligent and electric ...
timeslive.co.za/motoring/news/2024-04-17-vw-to-roll-out-new-architecture-with-xpeng-to-cut-china-ev-costs/
Biden makes trade play for steel workers : The president will propose hiking tariffs on Chinese steel and aluminum today as part of a package of actions aimed at ...
politico.com/news/2024/04/17/biden-trade-steel-workers-00152691
US and China defence ministers in first significant contact since 2022: Pentagon says Lloyd Austin stressed importance of freedom of navigation in call with Dong ...
ft.com/content/f52fd4de-6490-47a9-bd54-30bf6354b9c2
US and China Continue to Spar Over Overcapacity Claims: The US reiterated to China its concerns over what it sees as industrial overcapacity in the world’s ...
bloomberg.com/news/articles/2024-04-16/us-and-china-continue-to-spar-over-overcapacity-claims
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Exclusive: US plans to restore tariffs on dominant solar technology, sources say: The Biden administration is expected to grant a request by South Korea’s Hanwha ...
reut.rs/4cYIF4d
China's GDP grew 5.3% in Q1, beating expectations : China’s economy beat expectations in the first quarter of the year with help from policies and an increase in ...
apnews.com/article/china-gdp-economy-first-quarter-a0743b0982996194c07713c5c701918f
5* Wyndham Tamansari Jivva Resort Bali in Bali, Indonesia for only $29 USD per night
secretflying.com/posts/5-wyndham-tamansari-jivva-resort-bali-in-bali-indonesia-for-only-29-usd-per-night/
Microsoft Invests $1.5 Billion in G42 as Top UAE AI Firm Pivots From China: Microsoft Corp. will invest $1.5 billion in the United Arab Emirates’ top artificial ...
bloomberg.com/news/articles/2024-04-16/microsoft-invests-1-5-billion-in-uae-s-g42-will-get-board-seat
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Quick Glance: Microsoft to Invest $1.5 Billion in Emirati AI Firm G42 for Minority Stake
- Microsoft is investing $1.5 billion in the United Arab Emirates-based artificial intelligence firm G42 to acquire a minority stake and a board seat.
- The partnership aims to deepen ties between the USA and the UAE amid the global battle for tech dominance.
- The deal includes G42 using Microsoft cloud services to run its AI applications.
- G42 and Microsoft plan to jointly bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa.
IMF sees slow, steady 2024 global growth; China, inflation pose risks: WASHINGTON (Reuters) -- The global economy is set for another year of slow but ...
asia.nikkei.com/Economy/IMF-sees-slow-steady-2024-global-growth-China-inflation-pose-risks
Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Three takeaways from China’s upbeat Q1 growth: China’s first-quarter gross domestic product (GDP) surpassed market expectations, indicating a promising start to ...
asiatimes.com/2024/04/three-takeaways-from-chinas-upbeat-q1-growth/
CNA Explains: Why does the national election in tiny Solomon Islands matter for the rest of the world?
channelnewsasia.com/world/cna-explains-solomon-islands-national-election-sogavare-diplomatic-ties-china-united-states-australia-taiwan-region-security-4271811
Up to 35 air freight flights daily: Warning call from Austria: Temu, Shein & Co. threaten domestic trade
kleinezeitung.at/wirtschaft/18378610/warnruf-aus-oesterreich-temu-shein-and-co-bedrohen-heimischen-handel
Southeast Asia's plastic tidal wave: Imported trash swamps region: This article is to mark Earth Day, an annual event held on April 22 to promote protection of ...
asia.nikkei.com/Spotlight/The-Big-Story/Southeast-Asia-s-plastic-tidal-wave-Imported-trash-swamps-region
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China's GDP growth accelerates to 5.3%, defying expectations: SHANGHAI -- China's gross domestic product growth accelerated to 5.3% on the year in the ...
asia.nikkei.com/Economy/China-s-GDP-growth-accelerates-to-5.3-defying-expectations
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Asian emerging market currencies come under pressure from strong dollar: Indonesia’s central bank supports rupiah as Indian rupee falls to record and Korean won ...
ft.com/content/3a985f06-35b5-4a56-91eb-4595fc71b0ad
EDITORIAL: Prepare for another ‘China shock’: Bringing Taiwan to the World and the World to Taiwan
taipeitimes.com/News/editorials/archives/2024/04/16/2003816473
Philippines to probe ‘creeping invasion’ of Chinese students in province near Taiwan
scmp.com/week-asia/politics/article/3259334/philippines-probe-creeping-invasion-chinese-students-province-near-taiwan
Indonesia poised to lead booming halal cosmetics market - Economy - The Jakarta Post
thejakartapost.com/business/2024/04/15/indonesia-poised-to-lead-booming-halal-cosmetics-market.html
Microsoft turns to the Middle East for its latest bet on AI: Microsoft will invest $1.5 billion in Abu Dhabi’s G42, an artificial intelligence group that has ...
cnn.com/2024/04/16/tech/microsoft-g42-ai/
China’s economy seeing ‘seismic shifts’ and imbalances like nothing Beijing predicted, senior economist says
scmp.com/economy/economic-indicators/article/3259351/chinas-economy-seeing-seismic-shifts-and-imbalances-nothing-beijing-predicted-senior-economist-says
MIT Technology Review brings its award-winning journalism to life with Roundtables. These subscriber-only online discussions with our expert editors keep you ... Show more
Roundtables: The MIT Technology Review Roundtables series brings our award-winning journalism to life for subscribers in intimate ...
technologyreview.com/supertopic/roundtables/
Oil steadies on China growth as Middle East tensions simmer
reuters.com/business/energy/oil-prices-rise-israel-weighs-response-iran-attack-2024-04-16/
China's Gen Z turns frugal as economy doubts linger: SHANGHAI/NEW YORK -- At 24 years old, Zhang Ru is not a target customer of the Shanghai community dining ...
asia.nikkei.com/Spotlight/Asia-Insight/China-s-Gen-Z-turns-frugal-as-economy-doubts-linger
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To sanction or not to sanction? Biden's Iran oil lifeline conundrum: Despite Tehran's extraordinary missile and drone retaliatory assault on Israel ...
dailysabah.com/business/energy/to-sanction-or-not-to-sanction-bidens-iran-oil-lifeline-conundrum
Apple CEO says that he wants to increase investments in Vietnam: Apple CEO Tim Cook said Tuesday that he wants to further increase investment in Vietnam a day ...
apnews.com/article/vietnam-apple-tim-cook-supply-chain-e9a7581a127937a1958bebd434a47f25
Job Cuts: The Bloomberg Close, Asia Edition: Good afternoon. Here’s what you need to know to end your day.
bloomberg.com/news/newsletters/2024-04-17/job-cuts-the-bloomberg-close-asia-edition
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Geopolitical strife and commodity volatility: Inflation impact? - Companies - The Jakarta Post
thejakartapost.com/business/2024/04/17/geopolitical-strife-and-commodity-volatility-inflation-impact.html
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
China home prices slumped in March as property crisis drags on: China's home values slumped further in March, leaving Beijing authorities scrambling for ...
businessinsider.com/china-outlook-home-prices-slumped-beijing-property-crisis-real-estate-2024-4
Reciprocal Access: How to Deal with TikTok and Other Chinese Apps Fairly and Democratically
thediplomat.com/2024/04/reciprocal-access-how-to-deal-with-tiktok-and-other-chinese-apps-fairly-and-democratically/
China’s semiconductor output jumps 40% in first quarter amid growing dominance in legacy chips
scmp.com/tech/tech-war/article/3259221/chinas-semiconductor-output-jumps-40-first-quarter-amid-growing-dominance-legacy-chips
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