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CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week48 | 2020

week48 | 2020

China's imports of U.S. soybeans surge in October - Reuters
Chinese imports of U.S. soybeans surged almost three-fold in October on a year-on-year basis, customs data showed on Wednesday, as cargoes booked following a Phase 1 trade deal between the United States and China arrived in the country.
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Opinion | Cooperative Competition Is Possible Between China and the U.S. - The New York Times
A former vice foreign minister of China proposes a way forward for the world’s two leading powers.
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Reflecting on 2020: Overcoming Hardships to Engage & Give Back to Local Communities - CGCC
On November 23rd, 2020, the “Experience 2020” Photo Contest successfully came to a close. Organized by China General Chamber of Commerce-USA and CGCC Foundation, the contest aimed to highlight continued cooperation, cross-cultural exchange, and understanding among Chinese and American business communities amid the unprecedented challenges of the global pandemic.
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G20 leaders pledge to ensure global access to Covid vaccines | Financial Times
State heads skirt the question of how many doses would be released to Covax scheme
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China’s economic recovery jeopardises Xi’s climate pledge | Financial Times
The country’s post-pandemic revival has been stoked by coal-powered industry
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White House Weighs New Action Against Beijing - WSJ
WASHINGTON—Senior Trump administration officials say they are pushing for new hard-line measures against Beijing, even as President Trump winds down his final two months in office.
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G-20 Leaders Vow to Cooperate as Coronavirus Cases Surge in the U.S., Europe - WSJ
RIYADH, Saudi Arabia—Leaders of the world’s major economies on Sunday urged strenuous efforts to combat the coronavirus and revive the global economy after a two-day summit that was held virtually because of the pandemic.
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A Covid-19 Vaccine Could Unleash Pent-Up Demand, Bringing Along Inflation - WSJ
Inflation could be poised for a comeback.
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Exclusive: In latest China jab, U.S. drafts list of 89 firms with military ties | Reuters
The Trump administration is close to declaring that 89 Chinese aerospace and other companies have military ties, restricting them from buying a range of U.S. goods and technology, according to a draft copy of the list seen by Reuters.
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week47 | 2020

week47 | 2020

CGCC News
Managing Post Election Sino-US Trade Risks: Export Controls and Sanctions
On November 18th, 2020, China General Chamber of Commerce – Houston Chapter and EY co-hosted "Managing Post Election Sin...
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Trump may end tariff exemption for imported solar panels, judge rules - Reuters
A U.S. judge overseeing trade issues on Thursday upheld a recent proclamation by President Donald Trump to allow the reimposition of tariffs on some imported solar panels, in a victory for domestic manufacturers.
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SEC Overhauls Certain Disclosure Requirements for Companies - WSJ
The U.S. Securities and Exchange Commission on Thursday voted to remove certain disclosure requirements for companies, one of the last rule changes to pass under departing Chairman Jay Clayton.
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US companies optimistic about China business under Biden, survey finds- CNBC
The outlook for U.S. businesses in China is improving, whether politically or revenue-wise, the American Chamber of Commerce in Shanghai said in a survey released Friday.
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Central Bank Is Committed to Using All Available Tools to Boost Economy, Top Fed Official Says - WSJ
A top Federal Reserve official said Monday that the central bank would use all available tools to ensure a strong recovery from the pandemic-induced shock and that he expected more support would be needed from fiscal and monetary authorities.
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GOP Report, Like Biden, Urges Multilateral Approach to China - WSJ
Republican lawmakers are pressing for a more multilateral approach to confronting China with expanded help from Europe, a strategy that dovetails with the view of the incoming Biden administration.
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Trade Restrictions Relax After Early Pandemic Surge - WSJ
A surge in new trade restrictions that began in 2017 has waned over the course of 2020, as governments eased some of the barriers they put up early in the coronavirus pandemic.
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Biden’s China Policy? A Balancing Act for a Toxic Relationship - The New York Times
As president, Joe Biden will face deep dilemmas, and a lot of unfinished business, stemming from President Trump’s multiyear onslaught against China.
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China's oil buying binge to run on in 2021 as tank operators, refiners stock up - Reuters
China’s commercial oil stockpiling sector, which emerged as a key swing buyer of crude as prices plunged earlier this year, is setting plans to grow again in 2021, supporting a further boost in imports.
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SEC Pursues Plan Requiring Chinese Firms to Use Auditors Overseen by U.S. - WSJ
Chinese companies with shares traded in America would be required to use auditors overseen by U.S. regulators or face being kicked off exchanges under a plan being drafted by regulators, according to people familiar with the matter.
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Joe Biden to remain tough on trade while re-embracing partners | Financial Times
President-elect likely to keep pressure on China and advance interests of US workers
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U.S. Crop Prices Are Rising, and China Is Buying - WSJ
Dry weather, China’s push to fatten its pigs and the lockdown-induced baking bonanza are lifting prices for U.S. row crops.
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Tech War With U.S. Turbocharges China’s Chip-Development Resolve - WSJ
China is investing heavily in computer chips and stepping up efforts to cultivate homegrown talent as it accelerates its quest for technological self-sufficiency amid a tech trade war with the U.S.
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China Economy Gathers Steam, Setting Stage for a Strong End to the Year - WSJ
BEIJING—China’s economic activity posted a broad-based recovery in October, paving the way for a faster economic rebound in the final quarter of the year.
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US surge in coronavirus cases darkens outlook for economy
The US economy is facing an accelerating surge in coronavirus cases and harsh new restrictions on business activity without the cushion of meaningful fiscal support, raising fears of a blow to the recovery.
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Asia-Pacific Countries Sign Major Trade Pact in Test for Biden - WSJ
SINGAPORE—Fifteen countries including China signed a major trade deal after years of tricky negotiations, posing an early challenge to President-elect Joe Biden as he formulates his administration’s trade policies.
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week46 | 2020

week46 | 2020

Coronavirus Live Updates: U.S. Cases Top 150,000 for First Time - WSJ.com
U.S. daily coronavirus cases set another record as several states reported all-time highs, while California became the second state in the country to top one million total infections.
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China Congratulates Biden on Presidential Victory - The New York Times
“We respect the choice of the American people,” a spokesman for the country’s Ministry of Foreign Affairs said, ending days of conspicuous silence about the election result.
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Trump Bars Americans From Investing in Firms That Help China’s Military - WSJ
President Trump signed an executive order prohibiting Americans from investing in a group of Chinese companies the U.S. says supply and otherwise support China’s military, intelligence and security services.
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Asian trade deal set to be signed after years of negotiations | Financial Times
RCEP will cover almost a third of global economic output and leave door open to India
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A Covid-19 Vaccine Would Boost the Global Economy, but Not All at Once - WSJ
The news that Pfizer Inc. and partner BioNTech SE could secure authorization for a coronavirus vaccine in a matter of weeks has sparked hopes that the global economy could bounce back strongly next year.
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Biden’s China Tech Plan: Stronger Defense, Quieter Offense - WSJ
President-elect Joe Biden may change the tone of Washington’s relationship with Beijing, but business leaders and Democratic advisers say he is likely to push back on China’s aim to become a global technology leader.
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Biden Is Expected to Review Trump’s Trade Tariffs - WSJ
WASHINGTON—President-elect Joe Biden will inherit a U.S. trade policy characterized by tariffs on global imports—on steel and aluminum from most of the world, on wine and cheese from Europe, and on nearly three-quarters of everything the U.S. buys from China.
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U.S. vs. China in 5G: The Battle Isn’t Even Close - WSJ
China is leading the way in the size and consistency of its 5G network
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Biden, as President, Will Shift U.S. Toolkit on China - WSJ
President-elect to maintain a tough stance on Beijing, but plans to seek pressure from allies
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U.S. Firms Get Another Boost From China - WSJ
China is bolstering American firms grappling with a surge in Covid-19 cases that is tempering demand in the U.S. and Europe.
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China’s export growth hits highest level in 19 months
Growth in China’s exports jumped to its highest level in more than a year and a half in October, in the latest sign that the country’s rapid economic recovery from coronavirus is strengthening its role in global trade.
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Where Joe Biden Stands on Key Issues - WSJ
President-elect Joe Biden promised on the 2020 campaign trail to undo large parts of President Trump’s policies in areas from health care to immigration. He also promised the federal government would play a greater role in combating the coronavirus pandemic.
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week45 | 2020

week45 | 2020

CGCC News
Election 2020: Tracking the top policy issues at play and their business impact
CGCC member company PwC recently published “Election 2020: Tracking the top policy issues at play and their business impact.”
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One Day in America: More Than 121,000 Coronavirus Cases - The New York Times
Thursday brought more coronavirus infections than in any other day of the pandemic. Around the country, the virus left its mark.
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Investors see silver-lining in U.S. election uncertainty - Reuters
A definitive result on the next U.S. president may still be elusive, but two days after Election Day, investors are back in ‘buy-everything’ mode - counting on Republicans keeping control of the Senate and limiting regulatory change as well as on full central bank support.
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Biden Takes Lead in Georgia as Trump Lashes Out Over Vote Count - WSJ
Joe Biden was ahead of President Trump in Georgia by several hundred votes early Friday, according to the latest tallies from the Associated Press, while Mr. Trump’s lead in Pennsylvania narrowed.
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Market ties between China, U.S. set to deepen regardless of who wins White House | Reuters
As the world awaited definitive results from the U.S. presidential election, Chinese investors betting on the re-election of Donald Trump sent shares of a Shenzhen-listed air traffic control software firm soaring on Wednesday.
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Rising Farm Exports to China Lift Agribusiness, Farmers - WSJ
Rising agricultural exports to China are helping revive the fortunes of some agribusiness companies and farmers, after the coronavirus pandemic upended the U.S. farm sector.
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Presidential Election Comes Down to a Few States as Vote Counting Continues - WSJ
Vote counting continued in the closely fought presidential race Thursday as Joe Biden was within striking distance of the presidency and President Trump pursued legal actions in key states in an effort to keep open his pathway to a second term.
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With U.S. presidential election too close to call, Biden bats away Trump victory claim - Reuters
The U.S. presidential election hung in the balance on Wednesday, with a handful of states set to decide the outcome in the coming hours or days, even as Donald Trump falsely claimed victory and made unfounded allegations of electoral fraud.
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Companies Ban Work Travel, Warn Employees of Civil Unrest in Election Week - WSJ
U.S. companies geared up for Election Day with a flurry of memos and emails urging employees to avoid work travel and be on guard against civil unrest and potential disruptions.
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Election Results 2020 Live Updates - WSJ.com
Americans are awaking this morning to an unsettled contest between President Trump and former Vice President Joe Biden that hinges on a handful of undecided battleground states.
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Chinese economy outstrips US despite Beijing bashing | Financial Times
China emerging as the engine of global growth amid the Covid pandemic
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How China is helping exporters around the world - Financial Times
The IMF expects the world economy to shrink 4.4 per cent this year, the sharpest contraction in recent history, but China is forecast to expand 1.9 per cent thanks to a robust recovery that has not been hampered by a strong resurgence of coronavirus as in many other countries.
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America’s Economy Faces a Winter Chill - WSJ
Covid cases are rising, cold weather is on its way and, for many American households and small businesses, financial resources are running out. The next few months could be tough.
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Use of Sanctions as U.S. Foreign-Policy Tool Would Likely Continue Under Biden - WSJ
Economic and trade sanctions have become a top U.S. foreign-policy tool for the Trump administration, and that would be unlikely to change under his Democratic challenger, Joe Biden.
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China boosts foreign access to huge onshore capital markets | Financial Times
New rules making it easier for international investors to trade in China’s booming capital markets have come into force, adding momentum to Beijing’s sweeping liberalisation of its financial system.
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Election 2020: What You Need to Know - WSJ
President Trump and Democratic nominee Joe Biden will vie for the White House Tuesday, with control of the Senate up for grabs, and every House seat on the ballot too.
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week44 | 2020

week44 | 2020

CGCC News
Dorsey U.S. Bankruptcy Law Q&A Series Three
This Series Three will address questions relating to the early stages of the bankruptcy process, including what disclosu...
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Dorsey U.S. Bankruptcy Law Q&A Series Two
This Series Two will address questions relating to how suppliers and their supply contracts are impacted by a bankruptc...
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CGCC Insights Vol. 12 – Stronger Together
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The U.S. Hits the 9-Million Mark as Infections Keep Surging - The New York Times
With daily reports of coronavirus cases in the United States surging to previously unseen heights, the country has crossed the threshold of nine million known infections since the pandemic began.
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How China is helping exporters around the world - Financial Times
The country has become an important destination for goods during the pandemic.
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China Stresses Reliance on Its Own Technologies in Five-Year Plan - WSJ
China’s leaders approved an economic blueprint for the next five years that emphasizes “technology self-reliance,” a defiant message in the face of intensifying U.S. sanctions against Chinese firms.
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China races ahead in electric vehicles - Financial Times
Local companies leverage the country’s scale advantages to make competitively priced cars
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Has US-China decoupling been overstated? - Financial Times
American companies face more obstacles, but business continues — and at pace
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Tariffs Didn’t Fuel Revival for American Steel - WSJ
Initial job growth withers as demand and prices sink; older mills face a dim future
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U.S. warns of threat posed by China, signs military pact with India - Reuters
The United States and India signed a pact to share sensitive satellite and map data on Tuesday as U.S. Secretary of State Mike Pompeo warned of the threat posed by an increasingly assertive China.
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China Is Far Behind on U.S. Purchases Under Trade Deal - WSJ
China accelerated purchases of U.S. farm products last month, new data shows, but overall it remains far behind on a commitment to buy about $140 billion in specific U.S. agricultural, energy and manufactured goods this year under a trade accord signed in January.
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Foreign Investment Plummets During Pandemic, Except in China - WSJ
Foreign direct investment in China largely held steady during the first half of this year, even as investment inflows into the U.S. and European Union plummeted, in a fresh sign that the world’s second-largest economy has suffered less damage from the pandemic.
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Don’t be blind to China’s rise in a changing world | Financial Times
Anti-Beijing bias has blinded too many for too long to opportunities
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Coronavirus Stimulus Talks With White House at Impasse - WSJ
WASHINGTON—The latest, beefed-up White House offer on a new coronavirus package hit resistance from both Democrats and Republicans over the weekend, deflating hopes that a bipartisan agreement was imminent.
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Beijing and Wall Street deepen ties despite geopolitical rivalry | Financial Times
China and US finance defy Donald Trump’s trade and tech war with growing investments
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Pivotal Studies of Covid-19 Vaccines From AstraZeneca, J&J Resuming - WSJ
Paused studies of leading Covid-19 vaccine candidates from AstraZeneca AZN 0.08% PLC and Johnson & Johnson JNJ 0.11% are resuming, the companies said Friday.
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Huawei Shows Signs of Strain From U.S. Pressure on Chips - WSJ
HONG KONG—Pressure is mounting on China’s Huawei Technologies Co., as growth slows in the face of tightening U.S. restrictions on its chip supplies and as an increasing number of countries shun its 5G gear.
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China Trade War Didn’t Boost U.S. Manufacturing Might - WSJ
WASHINGTON—President Trump’s trade war against China didn’t achieve the central objective of reversing a U.S. decline in manufacturing, economic data show, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports.
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week43 | 2020

week43 | 2020

CGCC News
Cushman & Wakefield Third Quarter Manhattan Office MarketBeat Reports
CGCC member company Cushman & Wakefield recently published their “Third Quarter MarketBeat Report” for the Manhattan office market.
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Efforts to ensure export control law implementation - Chinadaily.com.cn
China will promote the legislation of supporting laws and regulations on the newly passed export control law to ensure its effective implementation, the Ministry of Commerce said on Thursday.
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China-US shipping costs soar on pandemic restocking - Financial Times
The cost of shipping goods from Asia to the US has soared in the past month as American companies seek to restock depleted inventories ahead of the holiday season and prepare for the pandemic to worsen over the winter.
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The U.S. vs. China: The High Cost of the Technology Cold War - WSJ
The conflict has disrupted the telecom and semiconductor industries in both countries. But the consequences have already begun to spread well beyond those companies.
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The WTO Couldn’t Change China, so Robert Lighthizer Found Another Way - WSJ
After President Trump imposed steep tariffs on Chinese imports in 2018, Beijing did what aggrieved trading partners typically do: It complained to the World Trade Organization. Last month, a WTO panel ruled in its favor, declaring most of the U.S. tariffs violated the organization’s rules.
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China’s Ant gets final approval for world’s biggest-ever IPO | Financial Times
Payments group owned by Jack Ma set to raise about $30bn in Hong Kong and Shanghai offering
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China Beat Back Covid-19, but It’s Come at a Cost—Growing Inequality - WSJ
As more lower-income families struggle with the pandemic’s ripple effects, the widening gap between rich and poor could threaten China’s economic recovery
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Justice Department Hits Google With Antitrust Lawsuit - WSJ
The Justice Department filed a long-expected antitrust lawsuit alleging that Google uses anticompetitive tactics to preserve a monopoly for its flagship search engine and related advertising business, the most aggressive U.S. legal challenge to a company’s dominance in the tech sector in more than two decades.
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China’s Economy Is Almost Over Covid-19 - WSJ
Investors shouldn’t be too discouraged by China’s underwhelming third-quarter growth. Behind the headline numbers, always of questionable relevance, China’s economy still has good momentum.
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U.S. single-family homebuilding, permits surge to more than 13-year high - Reuters
U.S. single-family homebuilding raced to a more than 13-year high in September, cementing the housing market’s status as the star of the economic recovery amid record-low mortgage rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling.
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China Adds New Export Restrictions in Latest Trade-Dispute Move - WSJ
A new law will allow China to ban exports to protect national security, adding a versatile weapon to Beijing’s arsenal as it fights a war over trade and technology with the U.S.
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Alibaba to pay $3.6bn to take control of Chinese supermarket chain Sun Art | Financial Times
Ecommerce group raises stake to 72% as it doubles down on grocery delivery
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China Acceleration May Not Rescue World From Coronavirus Slowdown - WSJ
BEIJING—China’s accelerating expansion has made it one of the only countries with the potential to lift global growth out of its coronavirus-induced funk, but economists warn the world’s second-largest economy isn’t likely to drive a global recovery as it did after the financial crisis a decade ago.
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Tech’s Influence Over Markets Eclipses Dot-Com Bubble Peak - WSJ
Technology companies are set to end the year with their greatest share of the stock market ever, topping a dot-com era peak in the latest illustration of their growing influence on global consumers.
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U.S.’s China Hawks Drive Hard-Line Policies After Trump Turns on Beijing - WSJ
WASHINGTON—Since President Trump was inaugurated, many members of his national security team have been itching to confront a China they view as the greatest threat to the U.S.
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China Economy Grows 4.9% as Rest of World Struggles With Coronavirus - WSJ
BEIJING—Chinese officials said Monday that gross domestic product expanded by 4.9% in the third quarter from a year earlier, putting China’s economy back toward its pre-coronavirus trajectory half a year after the pandemic gutted its economy.
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week42 | 2020

week42 | 2020

Trump Pressed on Coronavirus Response in Town Hall, Biden Asked to Outline Alternative Plan - WSJ
President Trump was pressed on his handling of the pandemic amid rising coronavirus cases during a contentious town hall on Thursday, while Democratic nominee Joe Biden was asked what he would do differently.
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U.S. judge 'not inclined' to reverse decision on WeChat app store ban - Reuters
A U.S. judge in San Francisco on Thursday said she was "not inclined" to reverse her decision blocking the government from barring Apple and Google from offering WeChat for download in U.S. app stores.
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What CEOs Really Think About Remote Work - WSJ
CEOs and other executives say they’ve seen enough to judge whether remote work is working. But the verdict depends on whom you ask.
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IMF says austerity is not inevitable to ease pandemic impact on public finances | Financial Times
Nations that can borrow freely can stabilise debt without fiscal adjustment, fund suggests
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TikTok Rivals Seek to Exploit U.S. Action, Lawyers Say in Court Filings - WSJ
WASHINGTON—The Trump administration’s attempted ban on Chinese-owned TikTok threatens to devastate the video-sharing app’s user base and competitive position, lawyers for the company argued Wednesday.
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Beijing’s first bond offer to US investors draws record demand | Financial Times
China’s economic recovery proves strong lure for funds despite tensions with Washington
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Pandemic will cause ‘lasting damage’ to living standards, IMF warns - Financial Times
The coronavirus crisis will wreak “lasting damage” on people’s living standards across the world and taxes on the rich and on companies may have to rise to address this economic harm, the IMF has warned.
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China’s stock market value hits record high of more than $10tn - Financial Times
The total value of China’s stock market has climbed to a record high of more than $10tn, as the country’s accelerating economic recovery propelled it past the previous peak hit during an equities bubble five years ago.
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US STOCKS-S&P 500, Dow fall on J&J vaccine worries; tech gains prop up Nasdaq - Reuters
The Dow and the S&P 500 fell on Tuesday after a four-day winning streak as a pause in Johnson & Johnson’s COVID-19 trial triggered concerns about the timing of a vaccine, although a rally in technology shares supported the Nasdaq.
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OECD drafts principles for $100bn global corporate tax revolution | Financial Times
Technical blueprint would upend taxation of US tech groups but still needs political agreement
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China stock listings on Wall Street accelerate under Trump | Financial Times
Chinese groups stage growing number of IPOs despite US delisting threats
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Coronavirus Stimulus Spending Consensus Eludes Global Leaders - WSJ
WASHINGTON—Early in the coronavirus pandemic, global policy makers were united around the need for massive fiscal stimulus to inoculate their economies and bring them back to health.
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week41 | 2020

week41 | 2020

China funds targeting Ant IPO rake in $9 billion from over 10 million investors - Reuters
The market has so far brushed aside worries that Ant’s IPO could suffer from any U.S. restrictions, after a Bloomberg News report saying U.S. President Donald Trump is considering curbs on Ant and Tencent over concerns their payment platforms threaten national security.
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Fed Faced Divisions Over Low-Rate Promises Last Month - WSJ
Federal Reserve officials were divided last month over how to apply their new policy framework to an economy battered by the coronavirus pandemic, according to minutes of their Sept. 15-16 meeting released Wednesday.
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Trump open to broader COVID-19 stimulus as Pelosi, Mnuchin negotiate - Business Insider
The Trump administration indicated on Thursday night that it was open to a broader coronavirus stimulus package — despite President Donald Trump pulling out of funding talks on Tuesday and calling for standalone relief bills.
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US toughens visa requirements for foreign workers | Financial Times
Trump administration tries to deter companies hiring on H-1Bs by making them pay higher salaries
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Economists Trim Forecasts for U.S. Growth as Stimulus Prospects Dim - WSJ
WASHINGTON—Economists are dialing back their forecasts for U.S. economic growth this year as prospects fade for a renewed round of government stimulus.
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Pandemic Hastens Shift to Asset-Light Economy - WSJ
If you had wanted to bet on a post-pandemic rebound in used-car sales this year, CarMax Inc. would have seemed the logical winner: It is the nation’s largest dealer with more than 200 stores, a big lending operation and a history of profit.
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Trump Administration Announces Overhaul of H-1B Visa Program - WSJ
The Trump administration announced an overhaul of the H-1B visa program for high-skilled foreign workers that will require employers to pay H-1B workers significantly higher wages, narrow the types of degrees that could qualify an applicant and shorten the length of visas for certain contract workers.
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U.S. judge to hold November 4 hearing on Commerce Dept TikTok ban - Reuters
A U.S. judge said on Tuesday he would hold a Nov. 4 hearing on whether to allow the U.S. government to bar transactions with TikTok, a move that the Chinese-owned short video-sharing app has warned would effectively ban its use in the United States.
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Trump says he will back specific relief measures hours after halting talks - TheHill
President Trump late Tuesday signaled he would support specific measures on stimulus checks, help for the airline industry and small business loans, hours after cutting off bipartisan talks for more coronavirus relief.
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China rolls out experimental Covid vaccine as it eyes global market | Financial Times
Medical experts question safety of programme before phase 3 trials are completed
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U.S. Boosts Crude Sales to China, Forcing Saudis to Find Other Markets - WSJ
The U.S. is quickly ramping up oil sales to China, the world’s biggest importer, forcing traditional suppliers in the Mideast to look for new markets or hold on to their crude in an already oversupplied world.
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Trump Leaves Hospital Monday Evening, as White House Cases Mount - WSJ
WASHINGTON—President Trump left the hospital with a cautious prognosis Monday after three days of treatment for Covid-19, returning to a White House roiled by the spread of the contagion among his top aides a month before he seeks re-election.
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China’s Economic Recovery Helps Drive Its Stocks Higher - WSJ
China’s fast recovery from the coronavirus pandemic helped power a large stock-market rally this past summer. More gains are likely as the country’s economic rebound gathers steam.
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Justice Department Appeals Injunction Against WeChat - WSJ
WASHINGTON—The Trump administration filed court papers Friday seeking to overturn a federal magistrate’s Sept. 20 ruling that stopped a U.S. ban on China’s ubiquitous messaging and e-commerce app WeChat. TCEHY -1.88%
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Trump Took Steroid as Oxygen Levels Dropped, Doctors Say - WSJ
WASHINGTON—Doctors said President Trump’s condition was improving on Sunday, two days after he checked into the hospital, though they also noted that his blood oxygen level had dropped on Saturday and that he was taking a steroid that has typically been given to Covid-19 patients who are seriously ill.
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week40 | 2020

week40 | 2020

President Trump Signs Spending Bill After Brief Lapse in Funding - WSJ
President Trump ended a brief lapse in the federal government’s funding early Thursday morning when he signed a short-term spending bill within an hour after the midnight deadline.
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House Passes $2.2 Trillion Coronavirus Relief Bill in Absence of Bipartisan Deal - WSJ
The House passed a $2.2 trillion coronavirus relief bill Thursday as bipartisan negotiations with the Trump administration dragged on, with Democrats moving forward on their legislation in the absence of a deal with Republicans.
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President Trump, First Lady Melania Test Positive for the Coronavirus - WSJ
President Trump and first lady Melania Trump tested positive for Covid-19, injecting fresh uncertainty into an already tumultuous final stretch of the 2020 campaign.
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China’s Economic Rebound Picks Up Pace - WSJ
BEIJING—China’s economy gathered more steam in September as a rebound in global demand and the government’s supportive measures bolstered factory activity and helped push sentiment in the service sector to its highest level in nearly seven years.
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Stocks Finish Second Straight Quarter of Big Gains - WSJ
U.S. stocks turned in a second consecutive quarter of dramatic gains, continuing a historic stock-market recovery that few predicted in the depths of the March downturn.
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How China Is Taking Over International Organizations, One Vote at a Time - WSJ
When China curtailed political freedoms in Hong Kong this summer, two rival declarations circulated at the United Nations Human Rights Council. One, drafted by Cuba and commending Beijing’s move, won the backing of 53 nations. Another, issued by the U.K. and expressing concern, secured 27 supporters.
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U.S. to Start Forgiving PPP Loans After Borrowers Complained - WSJ
The Treasury Department said Tuesday it would begin forgiving loans granted to small-business owners under the Paycheck Protection Program, following banks’ and borrowers’ complaints that the process had been bogged down.
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Possible China Blacklist Adds More Uncertainty for U.S. Businesses - WSJ
News last week that China might release a blacklist of U.S. companies sparked speculation about which companies might be on the list, and the impact of such a list on technology and geopolitics.
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Trump, Biden Clash in Contentious First Debate - WSJ
President Trump and Joe Biden clashed over the Supreme Court, the coronavirus and the economy in a debate marked by interruptions and insults from both candidates Tuesday—with the Republican leader telling his rival that for “47 years you’ve done nothing” and the Democratic challenger calling Mr. Trump “the worst president that America has ever had.”
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Is TikTok Being Banned? U.S. Delays Plan to Block Downloads With Deal Reached - WSJ
TikTok and WeChat users in the U.S. were granted a reprieve from potential bans of the apps, but for different reasons.
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Judge blocks Trump’s app store ban on TikTok | Financial Times
Ruling comes just hours before Apple and Google would have been forced to remove video app
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China’s Yuan Is Riding High as Economy Recovers, Foreign Investors Pump In Money - WSJ
The yuan is closing out its strongest quarter against the dollar in more than a decade, boosted by optimism over China’s economic outlook and by the country’s comparatively high interest rates.
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Trump Nominates Amy Coney Barrett to Supreme Court - WSJ
WASHINGTON—President Trump formally nominated Amy Coney Barrett to the Supreme Court on Saturday, kicking off what is expected to be a rapid confirmation process aimed at installing another conservative-leaning judge just weeks before Election Day.
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Chinese Companies Head Home to Raise Money, as Beijing’s Relations With U.S. Fray - WSJ
China’s most ambitious and fastest-growing companies once flocked to U.S. markets to raise money. Now rising U.S. hostility and the increased attractions of listing closer to home are tipping the scales toward Hong Kong and Shanghai.
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China’s Export Machine Looks Inward as Global Risks Rise - WSJ
YIWU, China—Chinese makers of goods for export are seeking to turn inwards and sell domestically, a pivot considered key to making the world’s second-largest economy more self-sufficient.
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week39 | 2020

week39 | 2020

Trump Administration Proposes Clampdown on Open-Ended Student Visas - WSJ
The Department of Homeland Security is proposing to add a fixed end-date to student visas when they are issued, departing from its current practice of allowing them to remain valid as long as an international student is in school.
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Chinese consulate: Pompeo's spy allegation is vicious slander - CGTN
The Chinese Consulate General in New York on Friday refuted U.S. Secretary of State Mike Pompeo's claims that diplomats in the consulate were engaged in behavior "more akin to what spies are doing."
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Justice Department asks judge to allow U.S. to bar WeChat from U.S. app stores - Reuters
The U.S. Justice Department asked a federal judge in San Francisco early on Friday to allow the government to bar Apple and Google from offering WeChat for download in U.S. app stores pending an appeal.
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First TikTok then gaming as a crucible of US-China rivalry | Financial Times
Games make for splendid surfaces for online attacks but there is a way to neutralise the fight
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U.S. Economy Continues Steady Recovery in September, Business Surveys Show - WSJ
The U.S. economy in September continued its steady recovery from the sharp declines in the second quarter as demand and output strengthened, according to new business surveys. But the pace faltered in Europe and Asia, where new infections have led to new restrictions on activity.
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Pandemic knocks a tenth off incomes of workers worldwide | Financial Times
Large number of people who dropped out of labour market will make recovery harder, warns ILO
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Trump Demands U.N. Hold China to Account for Coronavirus Pandemic - The New York Times
In speeches broadcast at this year’s Covid-compromised General Assembly, the presidents of China and the United States punctuated an intensifying schism between the two superpowers.
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China blasts US House bill, denies forced labor in Xinjiang - ABC News
China on Tuesday lashed out at the passage of a bill by the U.S. House of Representatives that threatens sanctions over the alleged use of forced labor in China’s Xinjiang region, calling the accusation a lie.
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House Passes Short-Term Spending Bill to Keep Government Funded Through Dec. 11 - WSJ
The House Tuesday night passed a short-term spending bill keeping the government funded through Dec. 11, after Democrats reached a deal with the White House over farm aid and food assistance.
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Stocks Close Sharply Lower; Dow Drops More Than 500 Points - WSJ
The Dow Jones Industrial Average dropped more than 500 points, falling in tandem with oil and gold prices and sparking worry among some investors of further turbulence ahead.
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TikTok and Oracle Spar Over Ownership, Threatening Deal - WSJ
Disagreement between TikTok and its potential U.S. partner spilled into the open, with dueling messages from Oracle Corp. ORCL 1.79% and the Chinese-owned video app operator over the ownership structure for a proposed U.S.-based version of the company.
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China’s export machine comes roaring back to life | Financial Times
Big economies may be struggling but their appetite for Chinese electronics is growing
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Global Trade Returns Faster Than Expected - WSJ
Global trade is rebounding much more quickly this year than it did after the 2008 financial crisis, lifting parts of the world economy and defying predictions the pandemic could send globalization into permanent retreat.
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Supreme Court Vacancy Sets Off Debate as Trump Plans for Ginsburg Successor - WSJ
WASHINGTON—The death of Supreme Court Justice Ruth Bader Ginsburg six weeks before Election Day stirred political jockeying by both parties, with Republicans pushing to move quickly on a successor and Democrats assessing options they have to keep the seat open.
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WeChat Ban Blocked by Federal Judge in Ruling Against Trump Administration - WSJ
A federal judge in California temporarily blocked the Trump administration’s executive order curbing Americans’ use of WeChat, upholding a motion from users of the popular Chinese-owned messaging and e-commerce app.
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week38 | 2020

week38 | 2020

Commerce Department Prohibits WeChat and TikTok Transactions to Protect the National Security of the United States - U.S. Department of Commerce
In response to President Trump’s Executive Orders signed August 6, 2020, the Department of Commerce (Commerce) today announced prohibitions on transactions relating to mobile applications (apps) WeChat and TikTok to safeguard the national security of the United States.
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China market to open further to most competitive US companies: Chinese ambassador - ECNS
China's market will continue to open further for US companies in areas where the United States is most competitive such as energy, agriculture and finance, Chinese Ambassador to the United States Cui Tiankai has said.
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Judge Clears China’s Harbin to Buy Bankrupt Vitamin Seller GNC - WSJ
Vitamin seller GNC Holdings Inc. won court approval to sell itself to its largest shareholder, China’s Harbin Pharmaceutical Group Co., despite national-security concerns raised by Sen. Marco Rubio.
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China-US investment falls to lowest in almost a decade | Financial Times
Political tensions and coronavirus fallout hit commerce between world’s biggest economies
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Trump Administration Pushes for U.S. Control of TikTok - WSJ
WASHINGTON—Trump administration officials are looking to give American investors a majority share of the company that will take over the Chinese-owned video-sharing app TikTok, according to people familiar with the matter.
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Fed Sets Higher Hurdles for Rate Increase - WSJ
WASHINGTON—The Federal Reserve pledged to support the economic recovery by setting a higher bar to raise interest rates and by signaling it expected to hold rates near zero for at least three more years.
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U.S. Sanctions Chinese Firm Helping Build Military Base in Cambodia - WSJ
The U.S. imposed sanctions against a Chinese company that it said is responsible for helping to build a military base for Beijing in Cambodia, a new phase in a U.S. effort to pressure companies helping in China’s military expansion around the world.
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Donald Trump says a coronavirus vaccine could be 'three weeks, four weeks' away - ABC News
US President Donald Trump says a vaccine for COVID-19 could be ready in three or four weeks, despite some US public health officials urging caution about that accelerated timeline.
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W.T.O. Says American Tariffs on China Broke Global Trade Rules - The New York Times
A World Trade Organization panel said Tuesday that the United States violated its rules by imposing tariffs on China in 2018, drawing an angry response from the Trump administration.
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Terry Branstad, U.S. Ambassador to China, Is Stepping Down - WSJ
HONG KONG—Terry Branstad is stepping down as U.S. ambassador to China, ending a more than three-year tenure at the forefront of Washington’s increasingly strained relationship with Beijing.
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Trump administration to review Oracle’s TikTok deal this week | Financial Times
Panel will recommend whether to approve ‘technical partnership’ with China’s ByteDance
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China’s Economy Picks Up Speed as Shoppers, Moviegoers Return - WSJ
BEIJING—China’s economic recovery accelerated in August, with retail sales, the last holdout among the economy’s major components, returning to pre-coronavirus levels by showing their first month of growth this year.
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What’s Biden’s New China Policy? It Looks a Lot Like Trump’s - WSJ
Even with an administration change in January, China would face continued heightened friction with the U.S.
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Oracle Wins Bid for TikTok in U.S., Beating Microsoft - WSJ
Oracle Corp. ORCL -0.58% won the bidding for the U.S. operations of the video-sharing app TikTok, people familiar with the matter said, beating out Microsoft Corp. MSFT -0.65% in a high-profile deal to salvage a social-media sensation that has been caught in the middle of a geopolitical standoff.
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Global Economic Recovery Shows Signs of Slowing - WSJ
LONDON—The global economy is bouncing back strongly from the collapse it suffered in the spring, but fresh data suggest the early gains from the lifting of coronavirus lockdowns are already exhausted, adding to evidence that the world economy could take many months, if not years, to heal.
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week37 | 2020

week37 | 2020

Coronavirus tally: Global COVID-19 cases top 28 million, as U.S. cases rise to 6.4 million - MarketWatch
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 28.19 million on Friday, according to data aggregated by Johns Hopkins University, while the death toll rose to 909,927.
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TikTok sale: Trump says he won't give Chinese app an extension to divest interest in US operations - CNN
President Donald Trump said Thursday he will not extend the fast-approaching September 20 deadline he set for ByteDance, the Chinese-owned parent company of Tiktok, to sell the popular app or have it be banned.
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China imposes curbs on U.S. diplomats in response to U.S. move - Reuters
China on Friday said it had imposed restrictions on staff at the U.S. Embassy and its consulates in mainland China and Hong Kong, responding to U.S. measures announced early this month.
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A Surprisingly Durable Recovery Faces Tougher Tests - WSJ
With the easy gains from reopenings behind us, recovery going forward may be slower
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US companies defy Trump’s threats about ‘decoupling’ from China | Financial Times
US companies are ignoring Donald Trump’s threats to “decouple” from China and repatriate manufacturing, according to a survey of more than 200 companies with operations in the country.
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TikTok, U.S. Discuss Ways to Avoid Sale - WSJ
TikTok’s Chinese parent, ByteDance Ltd., is discussing with the U.S. government possible arrangements that would allow the popular video-sharing app to avoid a full sale of its U.S. operations, according to people familiar with the matter.
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U.S. Stock Futures Rise After Tech Selloff - WSJ
U.S. stock futures ticked higher Wednesday, a day after a tech rout drove the Nasdaq Composite into correction territory.
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Senate aims for Thursday vote on scaled-down coronavirus aid bill - Reuters
The U.S. Senate later this week aims to vote on a drastically scaled-back Republican coronavirus aid bill, Majority Leader Mitch McConnell said on Tuesday, despite opposition from Democrats who are needed for any measure to be enacted into law.
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US companies are sticking with China despite rising tensions and pressure from Trump - CNN
American companies in China are feeling increasingly pessimistic about trade tensions between Washington and Beijing. But very few want to uproot their business in the world's second biggest economy.
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徐辰:中美关系四十年的得与失- 清华金融评论
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Trump raises prospect of ‘decoupling’ US economy from China | Financial Times
President vows to end reliance on Beijing as he ratchets up anti-China rhetoric in re-election campaign
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China Launches Initiative to Set Global Data-Security Rules - WSJ
HONG KONG—China is launching its own initiative to set global standards on data security, countering U.S. efforts to persuade like-minded countries to ringfence their networks from Chinese technology.
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week36 | 2020

week36 | 2020

Struggling airlines lead U.S. planned job cuts in August - Reuters
U.S. employers announced another 115,762 job cuts in August, led by struggling airlines as the COVID-19 pandemic weighs on travel and financial assistance from the government lapses.
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Exclusive: White House Asks U.S. Agencies to Detail All China-Related Funding - The New York Times
The White House has asked U.S. government agencies for extensive details of any funding that seeks to counter China's global influence and business practices, or supports Beijing, amid growing tensions between Washington and Beijing.
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U.S. Stocks Fall Amid Decline in Tech Shares - WSJ
U.S. stocks fell sharply Thursday in their worst showing since June, driven by a broad decline in many of the technology companies that have led the market higher in recent months.
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Asian stocks rise on signs of recovery in China’s services sector - FT
Asia-Pacific shares edged higher after Wall Street notched new record highs and data indicated that activity in China’s services sector grew again in August.
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U.S. and Global Factory Output Picks Up, but Jobs Picture Is Mixed - WSJ
U.S. factory output continued to grow in August, according to a pair of surveys released Tuesday, but the picture for employment was mixed, a possible sign of lingering uncertainty about the coronavirus pandemic among American manufacturers.
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U.S. Imposes New Restrictions on Chinese Diplomats - WSJ
The Trump administration plans to impose new restrictions on Chinese diplomats in the U.S., citing Beijing’s use of similar measures on U.S. envoys.
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Pompeo hopeful China's Confucius Institutes will be gone from U.S. by year-end - Reuters
U.S. Secretary of State Mike Pompeo said on Tuesday he was hopeful that Chinese Confucius Institute cultural centers on U.S. university campuses would all be shut down by the end of the year.
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TikTok Deal Faces Complications as U.S. and China Ratchet Up Tit-for-Tat - The New York Times
China’s new export rules, which could delay or scuttle a sale of TikTok, have further turned giant companies into pawns in a geopolitical struggle.
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American, Delta End Domestic Change Fees - WSJ
American Airlines Group Inc. and Delta Air Lines Inc. said they were removing change fees on most domestic flights, as the levies emerged as a new competitive battleground among airlines.
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China trialling 4 vaccine candidates overseas - - FT中文网
China has started international clinical trials for four Covid-19 vaccine candidates, the National Health Commission said on Monday.
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What China’s new export rules mean for TikTok’s US sale | Financial Times
Beijing wants to signal its control over ByteDance’s AI tech without riling the US
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China’s Yuan Strengthens as Trade and Economic Concerns Fade - WSJ
China’s yuan has rallied to its strongest levels in more than a year, as the country’s economy continues to recover and investors grow less concerned about fresh U.S. tariffs.
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TikTok Talks Could Face Hurdle as China Tightens Tech Export Rules - WSJ
China announced new restrictions on artificial-intelligence technology exports that could further complicate the sale of TikTok’s U.S. operations, while intensifying the tech battle between the world’s two largest economies.
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The Real China Reshoring Isn’t What You Think - WSJ
There has been lots of talk about shifting manufacturing away from China. But the most obvious reshoring that’s happening now is actually being done by the Chinese themselves.
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China’s Attempts to Spur Consumption Show Signs of Working - WSJ
BEIJING—A gauge of Chinese business activity outside the factory floor rose to its highest level in 2½ years in August, a sign that Beijing’s efforts to stimulate consumption at home are having an impact.
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week35 | 2020

week35 | 2020

Walmart joins Microsoft bid for TikTok as CEO of social media app quits - Reuters
Walmart Inc said it was joining Microsoft in a bid for social media company TikTok’s U.S. assets, revealing its plans hours after the video company’s chief executive said he would step down.
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Job Seekers, Homebuyers, Stock Investors Are Expected to Benefit From Fed’s New Strategy - WSJ
The Federal Reserve’s new strategy means that interest rates are likely to stay exceptionally low for a longer—a boon to people looking for work, buying a home or investing in stocks.
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Ant’s Giant IPO Avoids U.S. Markets but Embraces U.S. Banks - WSJ
Citigroup, JPMorgan Chase and Morgan Stanley stand to gain when the financial-tech behemoth goes public.
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WEF postpones Davos 2021 over coronavirus fears | Financial Times
Annual landmark of global power brokers’ calendar pushed back to next summer
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China’s STAR Board Defies Financial Gravity in a Hot Market - WSJ
Shares listed on a Nasdaq-style technology board in China are trading at huge premiums to near-identical stocks in Hong Kong, as mainland investors pour money into a hot market.
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Historic Contraction in Rich Economies Presages Long Climb Back - WSJ
LONDON—The world’s rich economies experienced the deepest contraction in at least six decades in the spring, according to fresh data published Wednesday, while continuing outbreaks of the novel coronavirus mean their path back to pre-pandemic levels of output likely will be fraught.
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White House Announces $1 Billion Plan to Create AI, Quantum Institutes - WSJ
The White House on Wednesday will announce that federal agencies and their private sector partners are committing more than $1 billion over the next five years to establish 12 new research institutes focused on artificial intelligence and quantum information sciences.
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Ant Group reveals $2.6bn profit as it files for blockbuster IPO - Financial Times
Jack Ma’s Ant Group revealed it earned Rmb18bn ($2.6bn) in net profit last year as it filed documents for an initial public offering that may raise a record $30bn.
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U.S. Firms in China Say Trump’s WeChat Ban Will Hit Them Where It Hurts - WSJ
U.S. businesses in China are pushing back against a looming Trump administration ban on WeChat app, with a report Wednesday shedding light on just how vital the tool is to companies doing business in the world’s second-largest economy.
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TikTok had ‘no choice’ but to sue Trump administration | Financial Times
Video-sharing app says executive order banning it in the US was politically motivated
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China’s Economy Is Bouncing Back—And Gaining Ground on the U.S. - WSJ
Success in containing Covid-19 is bringing life back to normal and helping close the economic gap with a rival
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Senior U.S., Chinese Officials Say They Are Committed to Phase-One Trade Deal - WSJ
WASHINGTON—Senior U.S. and Chinese officials said they were committed to carrying out the phase-one trade accord between the two nations, the two governments said, after the two sides discussed the pact Monday evening U.S. time.
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Biden says he is willing to ‘shut down’ US to contain Covid-19
Democratic candidate vows to follow advice of scientists if elected in November
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Lawsuit Claims U.S. WeChat Ban Is Unconstitutional - WSJ
WASHINGTON—A WeChat users group that says it isn’t affiliated with the app’s owner filed a lawsuit against the Trump administration late Friday, seeking to block an executive order that would bar transactions with WeChat.
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Coronavirus Lifts Government Debt to WWII Levels—Cutting It Won’t Be Easy - WSJ
As countries world-wide boost spending to battle the new coronavirus, government debt has soared to levels not seen since World War II.
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week34 | 2020

week34 | 2020

China cautious on hitting back at US companies after Huawei sanctions - Financial Times
Beijing is unlikely to upset the innovation and economic benefits brought by American groups, say analysts
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Fed Sees Need for Additional Support but Is Vague on Timing - WSJ
Federal Reserve officials said at their meeting last month they expected the economy would require greater government support to recover from the coronavirus pandemic, though they didn’t signal at which of their coming meetings they would deploy those tools.
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U.S. and China to hold trade talks in the coming days - CNBC
The U.S. and China have agreed to go back to the negotiating table in the coming days to review the progress of their “phase one” trade deal, according to the Chinese commerce ministry.
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Coronavirus crisis creates a chance to tackle US jobs inequality | Financial Times
Rethink the labour market to retool the post-pandemic economy
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Premium Retailers Ride China’s Recovery From Covid-19 Crisis - WSJ
SHANGHAI—The coronavirus pandemic has created a divide in China’s consumer economy, with makers of premium products rebounding strongly but those catering to mass-market consumers finding it tougher to return to growth.
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U.S.-China Trade Talks Delayed, Not Derailed - WSJ
U.S. and Chinese trade negotiators plan to confer by video in the coming days over progress in fulfilling terms of the “Phase One” trade deal and U.S. actions against Chinese technology firms, according to officials in both nations.
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Trump Expresses Support for Oracle to Buy TikTok - WSJ
President Trump voiced support on Tuesday for Oracle Corp. ORCL 2.20% to buy the U.S. operations of TikTok, adding a fresh wrinkle to the bidding for the Chinese-owned video-sharing app.
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Chip and phone supply chain shaken as Huawei faces mortal threat | Ars Technica
The global chip and smartphone industries are bracing for severe disruption after the US launched tougher sanctions against Huawei that some said could mean “death” for the company.
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DNC Nominates Joe Biden to Lead Nation Through Pandemic - WSJ
Democrats formally made Joe Biden their presidential nominee, a role he has sought for more than three decades, capping a come-from-behind victory in the primaries he secured with a broad coalition of his party’s voters.
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U.S. Tightens Restrictions on Huawei’s Access to Chips - WSJ
The U.S. Commerce Department issued new rules curbing Huawei Technologies Co.’s access to foreign-made chips, expanding the Trump administration’s restrictions on the Chinese telecom company’s link to crucial components.
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U.S. Executives Who Left China Amid Pandemic Are Stuck Abroad—and May Never Return - WSJ
SHANGHAI—Thousands of China-based U.S. and other foreign business executives remain stranded outside the country due to coronavirus-related travel restrictions, leading some to give up hope of returning and posing operational challenges for their companies.
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China’s Recovery Loses Some Momentum as Retail Sales Disappoint Again - WSJ
BEIJING—China continued to build on its post-coronavirus recovery in July, though momentum cooled slightly as challenges at home and abroad piled up and Beijing eased off stimulus measures.
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Trump signals he has more Chinese companies in his sights - Financial Times
Donald Trump has signalled that he is considering taking action against more Chinese companies, including Alibaba, one day after he ordered ByteDance to divest TikTok’s operations in the US within 90 days.
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In a U.S.-China Tech Divorce, Businesses Would Have to Pick Sides - WSJ
The technology industries of the U.S. and China are in some ways deeply intertwined and in others remarkably separate. The latest actions on the part of the U.S. aim to sever what ties remain.
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Weekend U.S.-China talks on trade deal postponed indefinitely- MarketWatch
The U.S. and China have canceled plans for a virtual weekend meeting to assess their so-called phase one trade deal as it hits its six-month mark, Bloomberg reported Friday afternoon, citing people familiar with the matter.
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week33 | 2020

week33 | 2020

CGCC News
CGCC’s 2020 Annual Business Survey spotlights a path forward for Chinese Enterprises in the U.S.
On August 12th, 2020, over 200 American and Chinese company executives, including representatives from the U.S.-China Bu...
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White House report says most COVID-19 job losses are likely temporary - Business Insider
A majority of the jobs lost during the coronavirus pandemic and ensuing recession are likely only temporary, according to a Thursday report from the Trump administration.
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Aberdeen warns of ‘dramatic’ undervaluations in China delistings - Financial Times
One of the UK's biggest asset managers has warned that investors could get a raw deal if the US goes ahead with plans to force Chinese companies off American exchanges unless they submit to audit inspections.
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U.S. Labels Chinese Language Education Group a Diplomatic Mission - The New York Times
State Department officials said the move was aimed at informing American schools of potential propaganda from the government group’s programs, largely known as Confucius Institutes.
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Wall Street bank fees from China listings jump despite political tension | Financial Times
Wall Street banks have earned hundreds of millions in fees from Chinese groups selling shares in New York and Hong Kong in 2020, illustrating the fee pool that is at stake as Washington threatens to delist these companies from US markets.
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Corporate America Worries WeChat Ban Could Be Bad for Business - WSJ
U.S. companies whose fortunes are linked to China are pushing back against the Trump administration’s plans to restrict business transactions involving the WeChat TCEHY 3.11% app from Tencent Holdings Ltd., TCEHY 3.11% saying it could undermine their competitiveness in the world’s second-biggest economy.
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China’s Xi Speeds Up Inward Economic Shift - WSJ
For decades, Chinese leaders embraced foreign investments and exports to power China’s economy. Now, with the world in recession and U.S.-China tensions deepening, President Xi Jinping is laying out a major initiative to accelerate China’s shift toward more reliance on its domestic economy.
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Fed to Lower Rates for Cities, States Seeking Short-Term Loans - WSJ
The Federal Reserve said Tuesday it would reduce the rates it charges cities and states seeking short-term loans from an emergency lending program that has seen little takeup so far.
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China to Bring Up WeChat, TikTok in Next U.S. Trade Talks - Bloomberg
U.S. and Chinese negotiators plan to discuss progress of their trade deal in the coming days, with Beijing pushing to widen the agenda to include Washington’s recent crackdown on businesses including TikTok and WeChat.
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U.S.-China Trade Deal Is ‘Fine,’ Trump Adviser Kudlow Says - Bloomberg
The trade deal is “fine” and China is “substantially” increasing purchases of American goods, U.S. President Donald Trump’s top economic adviser Larry Kudlow said, dismissing concerns that rising tensions between the two countries might jeopardize the deal.
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China General Chamber of Commerce USA Launches 2020 Annual Business Survey on Chinese Enterprises in the U.S.
Survey finds that Chinese companies remain committed to U.S. market despite ongoing uncertainty
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China’s Strong July Auto Sales Fuel Hopes for Growth - WSJ
SHANGHAI—Chinese consumers flocked back to auto dealerships in July, boosting car makers’ hopes of returning to growth in the second half of the year and signaling a broader rebound in the world’s second-largest economy.
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Global threats are reordering supply chains, says report | Financial Times
Covid-19 and other risks mean quarter of products could be sourced from new countries in 5 years
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Tech, Financial Firms Eye Ways to Save TikTok’s U.S. Operations From Ban - WSJ
Several investment and technology firms are exploring a potential deal for the U.S. operations of TikTok, which is facing a Trump administration ban, but they each would have to surmount hurdles at least as high as the Chinese social-media platform’s main suitor, Microsoft Corp.
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U.S. Broadens Attack on Chinese Internet Giants With WeChat Order - WSJ
HONG KONG—The Trump administration is widening its attack against Chinese internet giants by targeting a social media app, WeChat, TCEHY -7.37% that is used daily by ordinary Chinese but by few Americans, further cementing a divide in the global internet.
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China Becomes a Refuge for U.S. Companies After Overcoming Covid-19 - WSJ
SHANGHAI—China has long been an important destination for U.S. companies. In the June quarter, the world’s second-largest economy became a vital refuge for many of them as China’s rebounding consumer economy helped offset the damage from tumbling sales back home.
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week32 | 2020

week32 | 2020

Update -China hopes U.S. will cooperate to create favourable conditions for trade deal, says top diplomat - Reuters
China urges the United States to strengthen cooperation so as to create favourable conditions for the implementation of the phase one trade deal, said its top diplomat Yang Jiechi on Friday.
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White House Seeks Crackdown on U.S.-Listed Chinese Firms - WSJ
Chinese companies with shares traded on U.S. stock exchanges would be forced to give up their listings unless they comply with U.S. audit requirements under a plan recommended Thursday by the Trump administration.
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President Trump signs order banning TikTok, WeChat in 45 days - ABC News
President Trump issued a pair of executive orders that would impose new limits on Chinese social-media apps TikTok and WeChat, escalating tensions with Beijing and effectively setting a 45-day deadline for an American company to purchase TikTok’s U.S. operations.
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US chip industry plots route back to homegrown production | Financial Times
America leads the world in design and equipment, but only makes 12 per cent of supply
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Pandemic Lays Bare U.S. Reliance on China for Drugs - WSJ
The shortage of a simple, over-the-counter painkiller shows how dependent the U.S. has become on China for vital pharmaceutical supplies.
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Pompeo threatens broader crackdown on China apps | Financial Times
Secretary of state says US is also ready to act against country’s cloud computing companies
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TikTok defends sale of US arm as investors move behind Microsoft - Financial Times
Chinese group had ‘no choice’ but to comply with demands from US regulators and sell app
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Business and Personal Bankruptcy Filings in the U.S. Rose in July - WSJ
The number of businesses seeking chapter 11 protection rose 52% in July from a year earlier as the coronavirus pandemic roiled the economy and upended businesses from coast to coast.
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U.S., Chinese Officials to Meet Aug. 15, Assess Trade Deal - WSJ
The U.S. and China have agreed to high-level talks on Aug. 15 to assess Beijing’s compliance with the bilateral trade agreement signed early this year, according to people briefed on the matter.
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China factory activity expands at fastest rate in 9 years | Financial Times
Manufacturing survey data beat expectations amid early signs of recovery in Japan and South Korea
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Trump seeks Treasury cut in Microsoft deal to acquire TikTok unit | Financial Times
US president drops opposition to purchase but insists government should receive ‘very large percentage’
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Global Factories Increase Production but Overseas Demand Remains Soft - WSJ
Factories across the U.S., Europe and parts of Asia increased production in July, but the upswing was held back by weak global trade and suggested a long and precarious road ahead for the global economy.
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China Won the First Leg of the Post-Covid Race. The Next One Will Be Harder. - WSJ
The first official read on China’s economy in July confirmed the nation has pulled ahead in the struggle to rekindle growth after the damage of the pandemic.
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July Jobs Data Will Provide Clues on Strength of the Recovery - WSJ
The July jobs report, to be released Friday, could be among the most politically consequential of the economic downturn caused by the coronavirus pandemic.
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China’s Manufacturing Recovery Picks Up the Pace - WSJ
BEIJING—An official gauge of China’s factory activity expanded at a faster pace in July, as improving demand inside and outside the country kept the recovery of the world’s second-largest economy on track.
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week31 | 2020

week31 | 2020

China needs 'explosive' buying to meet U.S. farm import target - Reuters
With nearly seven months gone, an ambitious $36.5 billion target for Chinese imports of U.S. farm goods this year may not be quite out of reach, but it’s looking like a big, big stretch.
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U.S. Economy Contracted at Record Rate Last Quarter; Jobless Claims Rise to 1.43 Million - WSJ
The economy contracted at a record rate last quarter and July setbacks for the jobs market added to signs of a slowing recovery as the country faces a summer surge in coronavirus infections.
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China says U.S. fuelling new Cold War due to presidential election - Reuters
China on Thursday accused the United States of stoking a new Cold War because certain politicians were searching for a scapegoat to bolster support ahead of the U.S. presidential election in November.
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Gold price hits record high as investors’ Covid-19 fears escalate | Financial Times
Precious metal passes its nominal 2011 peak, helped by extraordinary monetary policy
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China Tries Its Favorite Economic Cure: More Construction - The New York Times
At a cavernous factory in the Chinese city of Xuzhou, 100 new workers have just been hired to produce giant construction cranes.
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Fed Maintains Stimulus Commitment as Economic Outlook Dims - WSJ
Federal Reserve Chairman Jerome Powell said on Wednesday the U.S. economy faces a long road to recovery that will require greater public vigilance to prevent the spread of the coronavirus pandemic and more spending from Congress and the White House.
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Tencent Bid Target Could Join Chinese Exodus From U.S. Markets - WSJ
Tencent Holdings proposed to buy out other investors in its search-engine affiliate Sogou for about $2.1 billion, in what could become the latest instance of a Chinese technology company abandoning the U.S. stock market.
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Fed Outlook Turns Gloomier as Coronavirus Spreads - WSJ
Federal Reserve officials meet Tuesday and Wednesday facing growing doubts about the prospect for a sustained economic rebound due to the nation’s uneven public-health response to the coronavirus.
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Pfizer Foresees Lasting Demand for Covid-19 Vaccine - WSJ
Pfizer Inc. said it expects global demand for vaccinations against coronavirus illnesses to last at least several years, sharpening a long-term forecast for its experimental Covid-19 vaccine as the company moves forward with the final-stage of clinical testing.
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Dollar on Course for Worst Month in Almost a Decade - WSJ
The dollar is on track to close out its worst month since April 2011 as a rise in coronavirus infections across the U.S. threatens to damp the economic recovery and keep low interest rates in place for longer.
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Once a Source of U.S.-China Tension, Trade Emerges as an Area of Calm - The New York Times
The trade deal is providing a rare point of stability as relations between the United States and China fray over Hong Kong, the coronavirus and accusations of espionage.
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U.S. Exits Chinese Consulate, as Nations’ Ties Deteriorate - WSJ
At dawn on Monday, as the deadline to leave the U.S. consulate in the southwestern Chinese city of Chengdu approached, staff were still trickling out with briefcases in hand, just minutes before the U.S. flag was lowered in the courtyard.
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Chinese listings surge on Wall Street despite tensions
Chinese companies have raced to sell shares on Wall Street this year even as relations between Washington and Beijing plunged to their lowest ebb in decades.
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China Fortifies Hong Kong’s Role as Financial Powerhouse - WSJ
Beijing wagers that its crackdown on former British colony won’t undermine foreign-investment flows, as business with mainland flourishes.
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Investors Set Aside Coronavirus Worries, Driving a ‘Melt-Up’ in Markets - WSJ
Stocks, bonds and commodities are heading for their strongest simultaneous four-month rise on record, highlighting the breadth of the market recovery during the 2020 economic slowdown.
Read More

week30 | 2020

week30 | 2020

Pfizer, BioNTech Get $1.95 Billion Covid-19 Vaccine Order From U.S. Government - WSJ
The U.S. has agreed to pay Pfizer Inc.and BioNTech SE nearly $2 billion to secure 100 million doses of their experimental Covid-19 vaccine to provide to Americans free of charge, the latest sign the government is readying plans to make vaccines available if proved to work safely.
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The Pandemic Isn’t Bringing Back Factory Jobs, at Least Not Yet - The New York Times
It’s a moment of reckoning for global supply chains. But that doesn’t mean companies are flocking back to the United States.
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China orders closure of US consulate in Chengdu in retaliation for Houston - CNN
China has ordered the closure of the United States consulate in Chengdu, days after Washington forced the Chinese consulate in Houston to cease operations.
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China’s BYD Gets Extension on $1 Billion California Mask Deal - WSJ
BYD Co., 1211 7.43% a Chinese electric-car maker turned mask producer, said it had secured a second reprieve on a troubled $1 billion deal to sell N95 masks to the state of California after missing a Sunday deadline to win a required federal certification.
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US spends $2bn to secure Covid-19 vaccine | Financial Times
BioNTech and Pfizer announce deal for 100m doses of coronavirus inoculation candidate
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Fed Deliberates How and When to Roll Out More Economic Support - WSJ
Federal Reserve officials are set to discuss next week how to provide more economic stimulus, though they have signaled comfort leaving policy on hold until they learn more about how the coronavirus pandemic is weighing on the U.S. economy.
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How Europe Kept Coronavirus Cases Low Even After Reopening - WSJ
When Western European countries began phasing out their lockdowns this spring, a surge of coronavirus cases was widely expected to follow. Months on—even as Europeans mingle in bars, restaurants and crowded beaches—that still hasn’t happened.
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Blacklisting of Chinese Firms Rattles American Supply Chains - WSJ
The addition of 11 Chinese companies to a U.S. trade blacklist of entities Washington says are linked to human-rights abuses of the Uighur minority group in Xinjiang is entangling major brands and likely to further a reordering of supply chains that feed American consumers.
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Chinese consulate in Houston ordered to close by US - BBC News
The U.S. ordered the abrupt closure of China’s consulate in Houston, citing a need to protect American intellectual property and private data, an escalation in bilateral tensions that Beijing condemned as outrageous and unprecedented.
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US dollar dominance could amplify crisis impact, IMF fears | Financial Times
Reliance on currency makes weaker exchange rates less effective shock absorbers, study finds
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White House shoots down extending unemployment benefit boost | Financial Times
Continuing $600 a week payments emerges as a sticking point as stimulus talks begin in earnest
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Coronavirus Vaccine Data Raises Hope for Trio of Candidates - WSJ
The prospects of successfully developing a coronavirus vaccine as soon as this year were buoyed Monday when three of the world’s leading candidates reported positive early trial data.
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The $52 Trillion Bubble: China Grapples With Epic Property Boom - WSJ
Real-estate surge eclipses the one in U.S. housing in the 2000s; desperate buyers undeterred by Covid pandemic
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China’s Economy Appears Back on Track, but Challenges Remain - WSJ
BEIJING—China reported a robust rebound in the second quarter of the year, avoiding a recession and putting the world’s second-largest economy back on a growth trajectory even as other countries struggle with the impact of the coronavirus pandemic.
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U.S. Companies Lose Hope for Quick Rebound From Covid-19 - WSJ
Big U.S. companies are deciding March and April moves won’t cut it.
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week29 | 2020

week29 | 2020

Barr Urges U.S. Companies to Resist Serving as ‘Pawns’ for China - The New York Times
The attorney general accused several companies by name of appeasing an authoritarian government to preserve access to a huge consumer market.
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The IMF should turn to special drawing rights in its Covid-19 response - Financial Times
An issue of SDRs would help developing countries inadequately covered by current financial safety nets. The writer is the governor of the People’s Bank of China.
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Trump Administration Turns Up Pressure on China on Several Fronts - WSJ
The Trump administration is intensifying U.S. pressure on China, piling on visa bans, sanctions and other restrictions that are battering already unsettled ties between the world’s two largest economies.
Read More
White House to impose visa restrictions on Huawei workers | Financial Times
Travel ban represents the latest escalation in Washington’s dispute with Beijing
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Central banks expand their role to address the crisis | Financial Times
Far from being impotent, they have again been crucial actors in the pandemic
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China Is First Major Economy to Return to Growth Since Coronavirus Pandemic - WSJ
BEIJING—China has become the first major economy to return to growth since the coronavirus started sweeping across the world earlier this year.
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US President Donald Trump signs Hong Kong Autonomy Act, and ends the city’s preferential trade status - SCMP
US President Donald Trump took two actions against China in response to Beijing’s moves on Hong Kong on Tuesday, signing an executive order ending the city’s preferential trade treatment, and enacting a bill that would require sanctions against foreign individuals and banks for contributing to the erosion of Hong Kong’s autonomy.
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U.S. and China, Caught in ‘Ideological Spiral,’ Drift Toward Cold War - The New York Times
Relations are in free fall. Lines are being drawn. As the two superpowers clash over technology, territory and clout, a new geopolitical era is dawning.
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‘This Is Not a Normal Recession’: Banks Ready for Wave of Coronavirus Defaults - WSJ
The largest U.S. banks signaled that the worst of the coronavirus recession is yet to come, opting to stow away tens of billions of dollars to prepare for an expected wave of loan losses.
Read More
Florida reports record number of new Covid-19 cases | Financial Times
State has highest single day total since pandemic began as US ‘sunbelt’ surge continues
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Fed, Treasury Disagreements Slowed Start of Main Street Lending Program - WSJ
Disagreements between leaders at the Federal Reserve and Treasury Department in recent months slowed the start of their flagship lending initiative for small and midsize businesses, according to current and former government officials.
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China’s Imports and Exports Rebound as Coronavirus Fades in World’s Second-Largest Economy - WSJ
BEIJING—Chinese imports from the U.S. rose for the first time since the new coronavirus emerged earlier this year, showcasing Beijing’s post-pandemic purchasing power even as political tension between the world’s two largest economies continues to rise.
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Wall Street’s Earnings Forecast: Cloudy With a Chance of Turbulence - WSJ
Coronavirus uncertainties prompted hundreds of companies to pull their guidance, blinding analysts and investors.
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Trump Dims Hopes for New China Trade Deal - WSJ
President Trump damped expectations for a promised phase-two trade pact with China on Friday, saying the relationship between the countries has been too badly damaged by the coronavirus pandemic.
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Why China Isn’t Expected to Power a Global Recovery - WSJ
Getting the global economy back on its feet this year won’t be easy. But it will be even tougher without more help from China, the locomotive that powered recoveries from the world’s latest economic emergency.
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week28 | 2020

week28 | 2020

China stocks’ winning streak ends after state media shifts tone - Financial Times
Chinese shares recorded their largest weekly gain in five years, even as the benchmark index snapped an eight-day winning streak to stall a rally fuelled by retail investors and cheerleading state media.
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Live-Streaming Craze Turns Into a Lifeline for China’s Stores - WSJ
Chinese shoppers have long used their phones to buy almost everything they need. The coronavirus crisis has supercharged that trend, turning online retail into a show which has hooked millions of stay-at-home consumers.
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China says ties with US at lowest point since 1979 - Financial Times
China has acknowledged that ties with the US are at their lowest point since the normalisation of relations in 1979, in comments that suggest Beijing wants to ease tensions, analysts said.
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New Coronavirus Surges Slow Economic Recovery - WSJ
The nation’s fledgling economic recovery is losing momentum, as a new wave of coronavirus infections causes businesses to scale back or reshutter in several big states and consumers to retreat anew.
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Fed withdraws from repo market after 10 months | Financial Times
US central bank’s aggressive intervention brought short-term borrowing costs under control
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China’s Yuan Rallies as Economy Recovers - WSJ
China’s yuan strengthened to levels last hit in March, as confidence builds that the country’s economy is shaking off the coronavirus pandemic, and as local stock markets soar.
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Trump administration could try to undermine Hong Kong dollar peg: report - MarketWatch
The U.S. Trump administration may seek to retaliate against China for a controversial new security law by targeting some Hong Kong banks for supporting it, according to a report from Bloomberg News on Wednesday.
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White House Warns Against Chinese Investment, Citing Risk of Further Sanctions - The New York Times
Economic and security officials warned a federal fund against putting retirement savings in China at “a time of mounting uncertainty” for the relationship.
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China scales back meat imports over virus concerns - Financial Times
Restrictions against processing plants in US, Europe, Brazil, and Canada to push up food prices.
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China’s Belt and Road urged to take green route | Financial Times
In April, 260 environmental organisations sent an unusual request to China’s finance minister: do not bail out 60 Chinese-backed overseas projects suffering from Covid-19’s economic fallout.
Read More
Trump Defends China Trade Deal After Adviser Says It’s ‘Over’ - The New York Times
Peter Navarro, the White House trade adviser, quickly walked back his remarks, which caused markets to dive.
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U.S. Business Groups Urge China to ‘Redouble Efforts’ to Implement Trade Deal - WSJ
NEW YORK—As senior U.S. and Chinese economic officials plan to discuss China’s compliance with a trade deal signed early this year, more than 40 American business groups called on Beijing to step up purchases of U.S. manufactured goods as well as energy and other products as part of the agreement.
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‘Flying Blind Into a Credit Storm’: Widespread Deferrals Mean Banks Can’t Tell Who’s Creditworthy - WSJ
Banks have pulled back sharply on lending to U.S. consumers during the coronavirus crisis. One reason: They can’t tell who is creditworthy anymore.
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China Is Unlikely to Meet Purchase Targets for U.S. Energy - WSJ
WASHINGTON—Economic fallout from the coronavirus pandemic has cast doubt on whether China can meet its targets to buy U.S. goods under this year’s trade deal—with energy emerging as the biggest casualty.
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U.S. Unemployment Rate Fell to 11.1% in June - WSJ
Unemployment fell and the U.S. economy regained 4.8 million jobs in June, but the recent surge in coronavirus infections could throw the recovery off course.
Read More

week27 | 2020

week27 | 2020

Chinese Oil Futures Draw More International Interest - WSJ
Foreign companies and investors are warming to Chinese oil futures, a boost to a project that Beijing hopes will boost the yuan’s appeal and loosen the dollar’s hold on global commodity pricing.
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The great interruption continues | Financial Times
Leaders should now be asking how we create the strongest feasible recovery
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Global Manufacturing Shows Fresh Signs of Recovery - WSJ
In some countries, including France and the U.K., manufacturing sectors return to growth
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Stock market today: Dow rallies more than 200 points to close out its best quarter since 1987 - CNBC
Stocks rose broadly on Tuesday as Wall Street wrapped up its best quarterly performance in decades.
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FCC: Huawei and ZTE officially designated 'national security threats' - CNBC
U.S. carriers cannot use an $8.3 billion government subsidy program, known as the Universal Service Fund, to purchase, maintain or support any equipment or services from both vendors.
Read More
Coronavirus Sends Oil Prices on Wild, Six-Month Ride - WSJ
The coronavirus transformed global oil markets in the first half of 2020, sending prices on a wild ride and spurring historic changes to energy supply chains and products used to invest in crude.
Read More
Supreme Court Orders Restructuring of Consumer-Finance Watchdog - WSJ
WASHINGTON—The Supreme Court ordered changes to a government consumer-finance watchdog created in the wake of the 2008 financial crisis, capping a 10-year battle over the agency by ruling its structure was unconstitutional because the director held too much unchecked power.
Read More
Coronavirus Cases Pass 10 Million Globally - WSJ
Coronavirus cases world-wide passed 10 million, with more than 500,000 deaths, as parts of the U.S. took steps to reverse their reopenings in response to surging case numbers, especially among young people.
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Fed Opens Lending Program for New Issuance of Corporate Debt - WSJ
The Federal Reserve formally opened Monday its $500 billion lending program to support issuance of new debt by large corporations, the last of nine emergency programs it is running to backstop lending markets reeling from the coronavirus pandemic.
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Coronavirus Erases Guidance From 40% of S&P 500 - WSJ
More than 40% of the companies in the S&P 500 have pulled their guidance, as the coronavirus pandemic has doused U.S. corporations in uncertainty, and their shares together have fallen more than the broader index.
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China to Fast-Track Coronavirus Vaccine Trial Based on Advanced Genetics Technology - WSJ
A research institute run by China’s military received approval to conduct human clinical trials of a new Covid-19 vaccine developed using advanced genetics technology, in a notable breakthrough for China’s quickly developing pharmaceutical industry.
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China Message to U.S.: Crossing ‘Red Lines’ Could Put Trade Deal at Risk - WSJ
Beijing has begun quietly delivering a message to Washington: U.S. pressure over matters China considers off limits could jeopardize Chinese purchases of farm goods and other U.S. exports under the “Phase One” trade deal.
Read More

week26 | 2020

week26 | 2020

Food Exporters Resist China’s New Coronavirus Restrictions - WSJ
China is tightening restrictions on food imports as it seeks to stave off a resurgence of the coronavirus, but its efforts are meeting resistance from government agencies of major food exporters.
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US Senate passes China sanctions bill over Hong Kong - Financial Times
The US Senate has unanimously passed a bill that would impose sanctions on Chinese officials who undermine Hong Kong’s semi-autonomous status, as well as the banks and state entities that do business with them. 
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Trump administration says Huawei, other Chinese companies backed by military: report - MarketWatch
Chinese companies including Huawei Technologies Inc., China Mobile Communications Group and Hikvision Visual Technology Co. could face U.S. sanctions after a finding by the Trump administration that they are owned or controlled by China's military, Reuters reported Wednesday.
Read More
Soybean Prices Rally as China Ramps Up Buying - WSJ
China has ramped up its purchases of U.S. soybeans recently, sparking a rebound in prices and making the crop profitable again for U.S. farmers after the coronavirus pandemic had slammed demand.
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Fed’s Bullard: As Bad as Economy Has Been, 90% of Output Maintained
St. Louis Fed leader James Bullard remains optimistic the U.S. economy can see a meaningful rebound over the final six months of the year as it continues addressing the fallout of the coronavirus pandemic.
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Coronavirus Cases Are Accelerating Across U.S. - WSJ
Covid-19’s spread is picking up steam in a larger swath of the U.S. as cases have increased at a faster rate nationwide for nearly two weeks, an acceleration that isn’t attributable solely to increased testing, a Wall Street Journal analysis shows.
Read More
Silicon Valley CEOs Criticize Trump’s Visa Restrictions - WSJ
Silicon Valley executives criticized President Trump’s order suspending new immigration on several employment-based visas programs, warning it could damage the U.S. tech industry’s competitiveness and ultimately jeopardize domestic job creation.
Read More
Trump threat to 'decouple' U.S. and China hits trade, investment reality - Reuters
Conflicting talk from Trump administration officials about “decoupling” the U.S. economy from China is running into a challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into China continues, and markets are wary of separating the world’s biggest economies.
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Global Economy Shows Signs of Pulling Out of Its Slump - WSJ
The global economy is gradually pulling out of its stall as businesses reopen after pandemic-induced lockdowns, with output contracting at a slower pace in the U.S., Europe and Asia this month, according to surveys of purchasing managers.
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Cash Remains King as Companies Close a Dismal Second Quarter - WSJ
Giant companies from McDonald’s Corp. MCD 0.48% to Intel Corp. INTC 0.79% are husbanding cash, cutting costs and tapping debt, all moves that bolster their resilience amid persistent uncertainty wrought by the new coronavirus.
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U.S. Companies Brought Back Foreign Profits as Coronavirus Struck - WSJ
WASHINGTON—U.S. companies brought home $124 billion in foreign profits in this year’s first quarter, the highest level since an immediate rush after the 2017 tax law, according to data released Friday by the Commerce Department.
Read More
How to Win Friends and Influence China in the Post-Covid World - WSJ
In his 2005 book “The World Is Flat,” Thomas Friedman laid out his now-famous “Dell Theory of Conflict Prevention,” which states that two nations that are both part of a major global supply chain—like that of Dell Technologies—won’t go to war with each other.
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As Coronavirus Resurges in Beijing, Much of China Has Bounced Back - WSJ
SHANGHAI—Millions of Beijing residents are back under lockdown as the Chinese capital contends with a new cluster of coronavirus cases. Schools are closed and residents can’t leave the city without a recent negative nucleic acid test.
Read More
May’s U.S. Jobs Rebound Was Widespread - WSJ
Nearly all U.S. states added jobs last month, as business reopenings allowed most areas of the country to start recovering from huge employment losses endured earlier in the coronavirus pandemic.
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How the Coronavirus Will Reshape World Trade - WSJ
When the global economy finally gets beyond the pandemic, expect it to be less globalized than before.
Read More

week25 | 2020

week25 | 2020

Trump renews threat to cut ties with Beijing, a day after high-level U.S.-China talks - Reuters
President Donald Trump on Thursday renewed his threat to cut ties with China, a day after his top diplomats held talks with Beijing and his trade representative said he did not consider decoupling the U.S. and Chinese economies a viable option.
Read More
Jobless claims dip to 1.51 million in mid-June, but layoffs remain stubbornly high - MarketWatch
The numbers: About 1.5 million people applied for traditional jobless benefits in mid-June, but the high number of people still seeking or receiving financial aid suggests a fresh wave of layoffs may be crashing over the economy and stunting an embryonic recovery.
Read More
China to Accelerate U.S. Farm Purchases After Hawaii Talks - Bloomberg
China plans to accelerate purchases of American farm goods to comply with the phase one trade deal with the U.S. following talks in Hawaii this week.
Read More
Businesses to Slash Overseas Investment Amid Pandemic Risks - WSJ
Businesses will slash new overseas investments by 40% this year and as much as 10% next year, according to new United Nations forecasts, as disruptions from the coronavirus pandemic push multinationals to bring production closer to home. The trend will hit poorer, developing countries hardest.
Read More
Powell Says Economic Gains Are at Risk if Stimulus Measures End Prematurely - WSJ
Federal Reserve Chairman Jerome Powell said recent economic improvement could be jeopardized if Congress curtailed support to workers displaced and businesses shuttered by the coronavirus pandemic.
Read More
Pompeo, Top Chinese Envoy Meet Amid Heightened Tensions - WSJ
WASHINGTON—Secretary of State Mike Pompeo met with his Chinese counterpart in Hawaii, part of an effort by Washington and Beijing to manage a relationship that has badly deteriorated over issues ranging from the status of Hong Kong and Taiwan to the coronavirus pandemic.
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Green shoots welcome but recovery still a long road, Fed's Powell says - Reuters
A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday, as he began the first of two days of hearings before U.S. lawmakers.
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U.S. Retail Sales Rose Record 17.7% in May - WSJ
U.S. shoppers opened their pocketbooks at malls and auto dealerships in May as states eased restrictions to contain the novel coronavirus, boosting retail spending and adding another sign the economy is recovering from earlier lockdowns to contain the pandemic.
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US firms can work with Huawei on 5G and other standards- CNBC
U.S. firms can work with Huawei on setting standards for next-generation technologies, the Department of Commerce said Monday.
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Oil Demand Is Headed for Record Rebound in 2021 - WSJ
The coronavirus pandemic will hammer global growth and oil demand this year, but supply cuts from producers and a record rebound in demand next year will help to rebalance the oil market, the International Energy Agency said.
Read More
U.S. Further Loosens Restrictions on Chinese Airline Flights - WSJ
The Trump administration further eased plans to restrict passenger flights by mainland Chinese airlines to the U.S. after China said it would permit more passenger flights by the US. airlines.
Read More
China a Bright Spot for U.S. in Gloomy Global Trade Picture - WSJ
WASHINGTON—China has retaken its mantle as America’s largest trading partner, emerging as a rare bright spot for U.S. farmers and other exporters as the coronavirus pandemic constrains global commerce.
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Hong Kong’s Bid for Chinese Tech Listings Gets $6.6 Billion Endorsement - WSJ
Hong Kong’s status as a venue for major Chinese technology companies got a boost Thursday, as shares in mobile-games group NetEase Inc. NTES -0.48% jumped on their debut in the city, while e-commerce company JD.com Inc. fixed a price for its own US$3.9 billion offering.
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American Express Gets Nod to Start Operating Card Network in China - WSJ
China’s central bank gave American Express Co. AXP 3.12% the green light to start operating a card-clearing network that will process transactions in yuan, giving the U.S. card company greater access to the country’s spenders.
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Chinese Consumers Add Fuel to Factory-Led Economic Recovery - WSJ
BEIJING—China’s factory-led recovery enjoyed an extra boost last month as Chinese consumers stepped up to make big-ticket purchases, pushing up home prices and auto-sales numbers and prompting economists to increase their growth outlook for the world’s second-largest economy.
Read More

week24 | 2020

week24 | 2020

China’s Trillion-Dollar Campaign Fuels a Tech Race With the U.S. - WSJ
China has embarked on a new trillion-dollar campaign to develop next-generation technologies as it seeks to catapult the nation ahead of the U.S. in critical areas.
Read More
Lawmakers Push to Invest Billions in Semiconductor Industry to Counter China - The New York Times
New legislation aimed at supporting the semiconductor industry is a sign of shifting consensus in Washington, where industrial plans are now in vogue.
Read More
Treasury Secretary Mnuchin says 'we can't shut down the economy again' - CNBC
Treasury Secretary Steven Mnuchin told CNBC on Thursday that shutting down the economy for a second time to combat the spread of Covid-19 isn’t a viable option and could cause even more headaches for Americans.
Read More
Second Pandemic Wave Would Inflict Big Economic Cost, Says OECD - WSJ
A second wave of lockdowns to counter a resurgent novel coronavirus would deal a terrible blow to a global economy already facing a severe contraction, the Organization for Economic Cooperation and Development said Wednesday.
Read More
Fed Officials Project No Rate Increases Through 2022 - WSJ
WASHINGTON—Federal Reserve officials signaled plans to keep interest rates near zero for years and said they were studying how to provide more support to a U.S. economy battered by the coronavirus and related shutdowns.
Read More
China Auto Sales Recovery Rolls Into Second Month - WSJ
SHANGHAI—China’s auto sales were up by double digits in May, as pent-up demand and promotions extended April’s rebound.
Read More
Senate Faults Oversight of Chinese Telecom Companies in U.S. - The New York Times
Senate investigators said Tuesday that government officials had “exercised minimal oversight” of the risks posed by three Chinese telecom companies that operate on American communications networks.
Read More
U.S. layoffs ease in April; hiring slumps to record low - Reuters
Layoffs in the United States fell in April, but remained the second-highest on record, while hiring hit an all-time low, suggesting the labor market could take years to recover from the COVID-19 crisis despite a surprise rebound in employment in May.
Read More
Discretionary Stocks Are Making a Comeback - WSJ
New winners and losers have emerged in the stock market as states continue to reopen and consumers venture out after weeks of diminished spending during the coronavirus shutdowns.
Read More
World Bank Sees 5.2% Decline in Global Economy in 2020 From Coronavirus - WSJ
The global economy is expected to shrink by about 5.2% in 2020 as a result of the coronavirus pandemic, making it one of the four most severe downturns in 150 years, the World Bank said Monday.
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Recession in U.S. Began in February, Official Arbiter Says - WSJ
WASHINGTON—The U.S. officially entered a recession in February, marking the end of the 128-month expansion that was the longest in records reaching back to 1854.
Read More
Chinese Electric-Car Maker Gets U.S. Approval to Supply N95 Masks - WSJ
BYD Co., 1211 -0.48% a Chinese car and battery maker backed by Warren Buffett, will be able to fulfill a much-needed $1 billion mask contract with California after weeks of delays over federal certification.
Read More
Americans Are More Troubled by Police Actions in Killing of George Floyd Than by Violence at Protests, Poll Finds - WSJ
WASHINGTON—Voters by a 2-to-1 margin are more troubled by the actions of police in the killing of George Floyd than by violence at some protests, and an overwhelming majority, 80%, feel that the country is spiraling out of control, according to a new Wall Street Journal/NBC News poll.
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China May exports slip back into contraction, imports worst in four years - Reuters
BEIJING (Reuters) - China’s exports contracted in May as global coronavirus lockdowns continued to devastate demand, while a sharper-than-expected fall in imports pointed to mounting pressure on manufacturers as global growth stalls.
Read More
U.S. Eases Flight Ban on Chinese Airlines - WSJ
The Trump administration eased off plans to block passenger flights by mainland Chinese airlines to the U.S. on Friday, after China said it would permit some passenger flights by U.S. airlines.
Read More

week23 | 2020

week23 | 2020

CGCC News
[CGCC E-Connects] "The Road Ahead: Opportunities for U.S. & China Relations” Webinar
On May 27th, CGCC co-hosted "The Road Ahead: Opportunities for U.S. & China Relations” webinar with Concordia as part of...
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[CGCC E-Connects] Accounting for the income tax effects of the CARES Act and the COVID-19 pandemic (in Chinese)
Companies need to consider how the income tax provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) A...
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Jobless claims climb 1.88 million at end of May, but there are growing signs U.S. unemployment is peaking - MarketWatch
The numbers: Some 1.88 million Americans applied for traditional jobless benefits at the end of May and another 623,000 filed new claims under a federal-relief program, but the number of unemployed collecting government checks appears to have stabilized as more workers return to their jobs.
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China Steps Back in Airline Dispute With the Trump Administration - The New York Times
Beijing will allow limited flights by international carriers to resume after the White House threatened to block Chinese passenger jets from flying to the U.S.
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美国新冠纾困措施批准九周后,刺激资金已经基本耗尽 - 华尔街日报
九周前,美国国会为抗击新冠疫情批准了有史以来规模最大的经济纾困措施,现在,大部分直接纾困资金已经花掉或已决定拨付。这些资金旨在维持美国经济运转。
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White House Weighs Options for Next Stimulus Bill - WSJ
WASHINGTON—President Trump is planning to meet with his senior advisers as soon as this week to discuss policy options for the next coronavirus relief package as the administration prepares for negotiations with Capitol Hill, according to a senior administration official.
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U.S. Plans to Block Flights by Chinese Airlines - WSJ
The Trump administration threatened Wednesday to bar mainland Chinese airlines from flying to and from the U.S. starting later this month, saying Beijing has failed to approve resumption of these routes by U.S. carriers.
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