The Hanoitimes - How long will this trade war last and who will be the first to make concessions? China and the US have just entered a new round of escalating their trade conflict with China's decision to impose trade tariff on US$75 billion of American goods and the US’s counterattack by raising duties already imposed on US$250 billion and soon on further US$300 billion of China's shipments to the US. The moves were taken just before the next round of bilateral trade talks already scheduled for next September in Washington. They did it in full awareness that escalating this conflict could complicate and hamper their trade talks and delay any related agreement they must and can reach. Who will be able to endure the pain till the end? Again tit-for-tat between the US and China. Again “weaponizing” protectionist measures to press up and deter each other. Again prolonging their trade conflict despite the devastating implications for their economies and for … [Read more...] about Tit-for-tat with serious effects
The Hanoitimes - Their game with currency is always like playing with double-edged knife. China’s deliberate weakening of the yuan has a limit and the US sanctions on countries it considers currency manipulators can`t be limitless and effective forever. Vietnam faces growing pressure to crack down on trade fraud Vietnam's imports from US jump 19% in H1 as trade tensions rise Psycho Warfare or Real Strike? The US - China trade conflict has escalated to a higher extent with China devaluating its currency and the US officially labeling China as a currency manipulator. For the first time since 2008, the Chinese central bank let the yuan weaken beyond 7 per US dollar, a closely watched threshold. And for the first time since 1994, China has been declared by the US as a currency manipulator. The stock markets across the world were shocked and in fears of a fresh currency devaluating race worldwide, even currency wars. Illustrative photo This measure together with … [Read more...] about US-Sino trade war: from tit-for-tat to agreement?
The Hanoitimes - Tat Thanh Cang, a member of the Party’s Central Committee, is blamed for infringing regulations on public land sales and mismanagement. The Party’s Central Inspection Commission on December 7 proposed the Politburo, the country’s most powerful body, discipline Tat Thanh Cang, deputy head of the Ho Chi Minh City Party Committee. Former HCM City's vice chairman Tat Thanh Cang. Photo: Vietnamnet.vn The commission made the proposal after ending its 32nd meeting held from December 3 to December 6, proposing the Politburo and the Secretariat of Party Central Committee take strict punishment against Cang for his serious violations in a number of property planning and projects in the country's biggest economic center. Under the current regulations, types of punishment include warning, reprimand, and expulsion from the party, but no specific kind has been reported for the proposal. Tat Thanh Cang has caught public … [Read more...] about Politburo proposed punishing Tat Thanh Cang for involvement in Thu Thiem project
Workers unload bags of chemicals at a port in Zhangjiagang in China’s eastern Jiangsu province.— AFP/VNA Illustrative Photo Viet Nam News LONDON — Escalating trade wars "pose real risks" to the global economy, potentially threatening millions of jobs, head of the World Trade Organisation (WTO) Roberto Azevedo warned in a London speech on Wednesday. US President Donald Trump is locked in a trade war with China, rolling out billions of dollars in tariffs in a bid to tackle its trade deficit and rein in what Washington considers unacceptable Chinese trade practices. Trump has also targeted the EU, and WTO director general Azevedo told business heads at the Mansion House speech that there appeared to be "no end in sight" to the tit-for-tat action, pleading with world leaders to negotiate. "A continued escalation of tensions would pose real risks," he warned. WTO economists calculate that a complete breakdown in international trade co-operation would see a sharp rise … [Read more...] about Global trade wars risk ’millions of jobs’: WTO chief
Number of successful startups remains modestBy Chi Thinh A representative of the HCMC Computer Association (1st, L) and other entrepreneurs share opportunities to develop manpower with participants – PHOTO: CHI THINH HCMC – The number of startups registered in Vietnam had amounted to 18,000 units as of April last year, with generous support from the Government, provinces and cities. However, the number of startups that survived initial difficulties has remained extremely low, heard a review meeting on startups in the digital era, held on October 16 in HCMC. The HCMC Computer Association (HCA) held the review meeting to wrap up a community program, themed “Innovative Startups in the Digital Era,” in collaboration with 10 colleges and universities in the city. According to startup incubators and accelerators, up to 80% of startups cannot survive longer than two years and a mere 3% achieve successful operations. Most of the local startups are in need of … [Read more...] about Number of successful startups remains modest