U.S. President Donald Trump and China's President Xi Jinping shake hands after making joint statements at the Great Hall of the People in Beijing, China, November 2017 - Photo: REUTERS World leaders started arriving in Buenos Aires on Thursday ahead of the gathering of the Group of 20, where global trade tensions, fuelled by U.S. President Donald Trump's trade war with China, are expected to dominate the agenda. Financial and commodities markets are closely watching the outcome of the summit, especially a planned meeting between Trump and Chinese President Xi Jinping on Saturday, although the outcome is far from certain. The stakes are high for the world's two biggest economies. Official data on Friday showed that growth in China's manufacturing sector stalled for the first time in more than two years in November. New export orders declined for a sixth straight month, according to an official survey of Chinese manufacturers. "In terms of economic effects, Chinese export growth will … [Read more...] about Trade deal possible at G20 but US must be ‘fair minded’
Trade deal deal
ASEAN, 6 dialogue partners determined to conclude mega trade deal in 2019
PM Nguyen Xuan Phuc (first from left) and other leaders of ASEAN member States and six dialogue partners to the second Summit in Singapore on November 14, 2018. Photo: VGP Under the Statement, the leaders emphasized that conclusion of the trade deal negotiations “is becoming more urgent and significant” given the current headwinds faced by the global economy. They welcomed the substantial progress made in the talks process in 2018 that has reached final stage and expressed their determination to conclude a modern, high quality and mutually beneficial RCEP in 2019. By now, the participating countries have concluded talks on seven chapters on economic and technical cooperation, small and medium enterprises, customs procedures and trade facilitation, government procurement, institutional provisions, sanitary and phytosanitary measures and standards, technical regulations and conformity assessment procedures. Of the chapters, five were concluded this year alone, according … [Read more...] about ASEAN, 6 dialogue partners determined to conclude mega trade deal in 2019
EU signs Singapore trade deal, urges China to open up
EU signs Singapore trade deal, urges China to open up The Saigon Times Daily Singapore's Prime Minister Lee Hsien Loong, European Commission President Jean-Claude Juncker, European Council President Donald Tusk, European Union High Representative for Foreign Affairs and Security Policy Federica Mogherini and Austrian Chancellor Sebastian Kurz attend the ceremony for signing a Free Trade Agreement with Singapore during the EU-ASEM summit in Brussels, Belgium, October 19, 2018 – PHOTO: REUTERS BRUSSELS (REUTERS) - The European Union signed a free-trade deal with Singapore at a summit with Asian leaders last week and pressed China to allow greater foreign investment in its economy, but ran into familiar resistance from Beijing over state subsidies. At a biennial Asia-Europe Meeting bringing together leaders representing 65% of global economic output, France, Britain, Germany, Italy and the European Commission held private meetings with Chinese Premier Li Keqiang, hoping for … [Read more...] about EU signs Singapore trade deal, urges China to open up
U.S. draws China FX into trade dispute as IMF calls for resolution
U.S. draws China FX into trade dispute as IMF calls for resolutionThe Saigon Times Daily United States Secretary of the Treasury Steven Mnuchin speaks during an interview with Reuters at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018 – PHOTO: REUTERS NUSA DUA (REUTERS) - The United States sought to make currency a central part of any solution to a bruising trade fight with China, keeping the pressure on Beijing to speed up economic reforms at a gathering of world policy makers who pledged to do more to safeguard global growth. China’s central bank governor Yi Gang on Saturday promised to keep the yuan currency’s value “broadly stable” at International Monetary Fund and World Bank annual meetings in Bali where the IMF attempted to prod the world’s two largest economies to resolve their disputes. The People’s Bank of China governor’s statement to the IMF steering … [Read more...] about U.S. draws China FX into trade dispute as IMF calls for resolution
Trade pact clause seen deterring China trade deal with Canada, Mexico
Trade pact clause seen deterring China trade deal with Canada, MexicoThe Saigon Times Daily Shipping containers are seen at a port in Shanghai, China July 10, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - China’s hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.-Mexico-Canada trade agreement that aims to forbid such deals with “non-market” countries, trade experts said on Tuesday. The provision specifies that if one of the current North American Free Trade Agreement partners enters a free trade deal with a “non-market” country such as China, the others can quit in six months and form their own bilateral trade pact. The clause, which has stirred controversy in Canada, fits in with U.S. President Donald Trump’s efforts to isolate China economically and prevent Chinese companies from using Canada or Mexico as a “back door” to ship products tariff-free to … [Read more...] about Trade pact clause seen deterring China trade deal with Canada, Mexico