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CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week38 | 2019

week38 | 2019

Weekly Headlines
The Fed’s Tail-Chasing Problem - WSJ
The U.S. economy is probably going to be fine, but the Federal Reserve looks likely to lower rates this week anyway.
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China Is Pitting the Yuan Against the Dollar. So Far, It’s Not Going to Plan. - WSJ
SHANGHAI—China’s progress in boosting international use of its currency is stalling.
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Amazon Changed Search Algorithm in Ways That Boost Its Own Products - WSJ
Amazon.com Inc. AMZN -1.71% has adjusted its product-search system to more prominently feature listings that are more profitable for the company, said people who worked on the project—a move, contested internally, that could favor Amazon's own brands.
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Fearing ‘Spy Trains,’ Congress May Ban a Chinese Maker of Subway Cars - The New York Times
CHICAGO — America’s next fight with China is unfolding at a glistening new factory in Chicago, which stands empty except for the shells of two subway cars and space for future business that is unlikely to come.
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Senators Urge F.C.C. to Review Licenses of 2 Chinese Telecom Companies - The New York Times
WASHINGTON — The Senate’s top Democrat plans on Monday to ask the Federal Communications Commission to consider whether two major Chinese telecommunications companies should be barred from operating in the United States.
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China’s Economy Aches All Over as Beijing Seeks Trade Fix With the U.S. - WSJ
BEIJING—Economic activity in China cooled further in August, testing Beijing’s tolerance for slower growth as it seeks to ease trade tensions with the U.S.
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week37 | 2019

week37 | 2019

CGCC News
CGCC and CCA Co-hosted The 10th CCA Cup Table Tennis Invitational
On September 7th, China General Chamber of Commerce-USA (CGCC), CGCC Foundation, and China Construction America co-hoste...
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Weekly Headlines
Trump Delays Planned Tariff Increase in ‘Gesture of Good Will’ to China - The New York Times
WASHINGTON — President Trump said Wednesday night that the United States would delay its next planned tariff increase on China by two weeks, as “a gesture of good will” that may help to mend the seriously damaged ties between the world’s two biggest economies.
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China to Exclude U.S. Soybeans and Pork From Additional Tariffs - WSJ
BEIJING—China said it wouldn’t impose additional tariffs on soybeans, pork and other agricultural goods from the U.S. in response to President Trump’s postponement of higher tariffs on some Chinese goods.
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China Seeks to Narrow Trade Talks With U.S. in Bid to Break Deadlock - WSJ
China is looking to narrow the scope of its negotiations with the U.S. to only trade matters, seeking to put thornier national-security issues on a separate track in a bid to break deadlocked talks with the U.S.
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Executives Say $1 Billion for AI Research Isn’t Enough - WSJ
The announcement Tuesday of a nearly $1 billion federal commitment toward artificial-intelligence research drew a mixed response from business leaders who said the U.S. needs to do more to maintain a competitive edge in AI.
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Global Drop in Currencies Bruises Investors - WSJ
Currencies around the world are tumbling to multiyear lows, bruising investors’ portfolios and fanning the flames of a global trade war.
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Trump to Delay Tariffs on China by Two Weeks - WSJ
WASHINGTON—President Trump said the U.S. will delay by two weeks a planned increase in tariffs on some Chinese imports, a move that could ease chilled relations between the two nations ahead of planned trade talks in Washington next month.
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US colleges look to insure against impact of trade war | Financial Times
An increasing number of US universities are looking to buy insurance policies against a drop in revenue from international students, fearing they are overexposed to China at a time of mounting trade tensions between Washington and Beijing.
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Opinion | Huawei Has a Plan to Help End Its War With Trump - The New York Times
After a week of interviews in Beijing, Shenzhen and Hong Kong, I’ve come away with some strong feelings about the United States-China trade dispute. There are two battlefronts: One is the negotiation to eliminate the barriers to American companies competing in China, and the other is what to do about Huawei, China’s enormous telecom networking company that Beijing sees as a crown jewel of national innovation and the Trump team sees as a giant global espionage device.
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John Bolton Ousted by Trump as National Security Adviser - WSJ
WASHINGTON—President Trump dismissed John Bolton, his national security adviser, after a contentious debate about Afghan peace talks became the latest of many disputes over foreign policy that exposed differences so severe that the two men couldn’t even agree on how the ouster happened.
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Apple Bets More Cameras Can Keep iPhone Humming - WSJ
Apple Inc. AAPL 0.43% ’s iPhone is expected to remain the star of the company’s annual publicity showcase this week, as it has been for the past dozen years. But the spotlight is turning toward a younger cast of products that Apple needs to galvanize growth.
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Stocks Are Back Near Records, but Memories of 2018 Leave Investors Uneasy - WSJ
Stocks have raced higher to start September, but signs of faltering growth are keeping investors on edge as they navigate what historically has been a turbulent period for markets.
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Chinese Consumer Prices Fattened by Precious Pork - WSJ
BEIJING—China’s consumer inflation rate kept up an accelerated pace in August as the price of pork, a mainstay of the Chinese diet, rose at its fastest clip in eight years.
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The escalating trade war will deepen global gloom | Financial Times
Global economic momentum is set to get worse before it gets better. The persistent strength of the US dollar in this low-growth, low-confidence environment adds to the sense of unease given the potential for US action to reverse the appreciation.
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As U.S. and China Squabble, Australia Seizes Trade Opportunities - WSJ
Australia faced a personal-credit crunch, housing slump and weak business confidence, threatening to derail the longest-running growth streak in the developed world. Then it got a trade boost as U.S.-China relations soured.
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China exports decline as US trade dispute takes toll | Financial Times
Exports from China fell in August as an intensifying trade dispute with the US took a heavier than expected toll on the country’s manufacturing sector and a forecast temporary increase in orders failed to materialise.
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week36 | 2019

week36 | 2019

CGCC News
CGCC Hosted Lunch & Learn: “The good, the bad and the ugly in commercial leasing”
On September 6th, China General Chamber of Commerce-USA (CGCC) hosted Lunch and Learn: “The good, the bad and the ugly i...
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Weekly Headlines
Executives’ Optimism in U.S. Economy Hits Three-Year Low - WSJ
Finance executives’ faith in the U.S. economy has reached a three-year low amid concerns over higher tariffs and economic uncertainty.
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Wall Street rallies and bonds drop as US-China agree to trade talks | Financial Times
Investors flocked from the relative safety of government bonds back to stocks on Thursday, on the heels of news that Washington and Beijing will resume trade negotiations and stronger US economic data.
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Fed Lines Up Another Quarter-Point Rate Cut - WSJ
Federal Reserve officials are gearing up to reduce interest rates at their next policy meeting in two weeks, most likely by a quarter-percentage point, as the trade war between the U.S. and China darkens the global economic outlook.
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Fed’s Beige Book Reports Modest Growth Despite Trade Uncertainty - WSJ
WASHINGTON—Most U.S. businesses remain optimistic about their prospects despite concerns about tariffs and trade policy, as the economy continues to grow, the Federal Reserve said Wednesday in its “beige book” report of anecdotes from business contacts. Here are highlights from the release:
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JPMorgan to Add China to Bond Indexes - WSJ
JPMorgan Chase & Co. JPM 1.21% plans to add Chinese government debt to its widely followed indexes, marking the latest stamp of foreign approval for the country’s assets and one that is likely to draw yet more money from abroad.
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China and the U.S. Will Hold High-Level Trade Talks in Early October - WSJ
Chinese and American officials plan to hold trade talks in Washington in early October, a new attempt to tame a trade war that is rippling through the global economy and hurting business investment and confidence.
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App That Makes You a Movie Star ‘Will Throw Your Privacy to the Crematorium’ - WSJ
A Chinese-made app that lets users morph themselves almost seamlessly into scenes from iconic movies and TV shows using a single selfie is the latest viral sensation to fan fears about data privacy and identity theft.
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Trump Warns China Not to Stall Talks - WSJ
WASHINGTON—President Trump said he would redouble his pressure on China if he wins a second term, warning Beijing not to stall trade negotiations until after the 2020 U.S. election and vowing to stick with his go-it-alone approach to the discussions.
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Overseas Investors Unload U.S. Real Estate - WSJ
A strong appetite among foreign investors for office buildings, apartments, malls and other real estate has in part fueled the long-running bull market in U.S. commercial property.
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US consumers in line of fire as new China tariffs kick in | Financial Times
Washington added tariffs of 15 per cent to $112bn of goods from China on Sunday, expanding the trade war in a move that will probably raise prices for American consumers.
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China’s Yuan Drops to Fresh 11-Year Low - WSJ
China’s yuan weakened further on Tuesday, at one point nearing 7.2 to the dollar, less than a month after Beijing let the currency pass a threshold it had previously defended.
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U.S.-China Trade War’s Global Impact Grows - WSJ
The escalating trade war between the U.S. and China is rippling through the global economy, hurting confidence among U.S. small businesses, crimping trade among industrial giants in Asia and hitting export-oriented factories in Europe.
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week35 | 2019

week35 | 2019

CGCC News
Aimbridge Hospitality and Interstate Hotels & Resorts to Merge
August 29, 2019 (AIMBRIDGE HOSPITALITY) - Aimbridge Hospitality (“Aimbridge”), North America’s largest independent hotel...
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Weekly Headlines
U.S. Second-Quarter Growth Slowed, Corporate Profits Rose - WSJ
WASHINGTON—The U.S. economic expansion cooled as it reached its 10th anniversary, despite strong pickups in corporate profits and consumer spending in the second quarter, with longer-run forces weighing on the outlook ahead.
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U.S. Companies Say Trade War Is Hitting China Operations - WSJ
More U.S. businesses and farmers say they are suffering amid the prolonged U.S.-China trade war, as they brace for the fallout from a new round of tariffs set to take effect Sunday.
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China Studying Tech Companies’ Exposure to U.S. Suppliers - WSJ
BEIJING—China is studying technology companies’ reliance on American suppliers, according to people familiar with the matter, an apparent attempt to assess their ability to withstand further trade-war shocks, even as Beijing prepares to roll out a retaliatory blacklist of foreign businesses.
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Worst May Be Over for Chinese Car Sales - WSJ
China’s latest attempt to revive car sales may not do much. Happily for the vast global industry that has come to depend on it, though, the world’s largest auto market may turn a corner soon anyway.
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Apple Tightens Privacy Rules on Siri Recordings After Backlash - WSJ
Apple Inc. AAPL 0.67% said it will no longer automatically save audio recordings of customers’ interactions with voice-driven virtual assistant Siri, the latest step as technology companies try to ease privacy concerns.
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National Security Concerns Threaten Undersea Data Link Backed by Google, Facebook - WSJ
U.S. officials are seeking to block an undersea cable backed by Google, Facebook Inc. and a Chinese partner, in a national security review that could rewrite the rules of internet connectivity between the U.S. and China, according to people involved in the discussions.
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US yield curve sends most dire signal since 2007 | Financial Times
A widely watched indicator of recession sent its most dire signal since the early days of the financial crisis on Tuesday, reflecting increasing gloom in the US bond markets about the economic consequences of Washington’s trade war with Beijing.
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Huawei widened its smartphone lead on Apple amid reports of nationalistic buying in China - MarketWatch
President Donald Trump boasts that he frequently talks with Apple Inc. CEO Tim Cook about a variety of topics. Well, he might soon be hearing from his good pal Tim about the effects of his anti-Huawei actions.
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Fed Rejects Call to Consider Politics in Policy Decisions - WSJ
The Federal Reserve said it rejected political considerations in its policy-making after one of its former top officials called for the central bank to consider the economic risks of President Trump’s re-election when setting interest rates.
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Get Used to Trade-War Stalemate - WSJ
A year and a half into the Sino-U.S. trade war, a pattern is emerging. President Trump threatens new tariffs on China. Beijing retaliates, announces modest measures to support the economy and lets the yuan weaken. Mr. Trump castigates the Chinese. And both economies slow further.
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Google Warns Against Blocking ‘Cookies’ Entirely, Triggering Criticism - WSJ
After promising to offer tools to let users limit “cookies,” tiny files that help internet and advertising companies track users, Alphabet Inc. GOOG 1.53% ’s Google suggested it won’t go any further, saying in a blog post that blocking cookies entirely could be counterproductive for user privacy.
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Trump Softens Tone on China, Iran at G-7 Summit - WSJ
BIARRITZ, France—President Trump struck a conciliatory tone on the final day of the Group of Seven summit, where he faced pressure from French President Emmanuel Macron to de-escalate the trade war with China and ease tensions with Iran.
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Trump Aides Say He Isn’t Ordering U.S. Companies Out of China - WSJ
WASHINGTON—Aides to President Trump said Sunday he has no plans to invoke emergency powers and force companies to relocate operations from China, two days after his Friday tweet that they were “hereby ordered” to look for alternative locations.
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Trump Lashes Out at China, Sending Markets Falling - WSJ
President Trump said he “hereby ordered” U.S. companies doing business in China to explore relocating their operations and stiffened tariffs on Chinese imports after Beijing unveiled its own new levies on American goods, the latest twists in a trade war rattling investors and confounding central bankers.
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Trump Ordered U.S. Companies to Leave China. Is That Possible? - The New York Times
SHANGHAI — In the space of 24 hours, President Trump ordered American businesses to leave China and suggested in a tweet that he has the authority to do so.
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week34 | 2019

week34 | 2019

CGCC News
CGCC Hosted 2019 Summer New Members Welcome Reception & Legal and Policy Series #14
On August 22, China General Chamber of Commerce - USA (CGCC) hosted 2019 Summer New Members Welcome Reception and Legal ...
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CGCC and EY hosted webcast ‘US-China Trade Actions Update’
Since the United States launched the 301 investigation on China on August 18, 2017, trade tensions between China and the...
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Weekly Headlines
Electric Vehicles Run Into China’s Regulatory Change - WSJ
China’s electric-vehicle market is entering a new phase. The country’s largest EV maker— Warren Buffett -backed BYD Co. 1211 -2.85% —showcases the challenges.
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Powell Faces Challenge Defining Doctrine Around When to Cut Rates - WSJ
JACKSON HOLE, Wyo.—The Federal Reserve struggled to provide a single explanation for why it cut interest rates last month because its officials supported the move for different reasons.
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Officials See Few Options if Slowdown Hits - WSJ
After debating for days whether the U.S. is going into an economic downturn, Washington policy makers and Wall Street investors on Wednesday barreled into an even more difficult problem: There are few good options to deal with one if it happens.
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Manufacturers Want to Quit China for Vietnam. They’re Finding It Impossible. - WSJ
With the U.S. and China tangled in a nasty trade fight, this should be Vietnam’s time to shine. Instead, it is becoming increasingly clear that it will be years, if ever, before this Southeast Asian nation and other aspiring manufacturing destinations are ready to replace China as the world’s factory floor.
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U.S. Job Growth Weaker Through March Than Earlier Reported, New Data Show - WSJ
The U.S. economy wasn’t as strong as we thought.
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Fed Officials Viewed July Rate Cut as ‘Recalibration’ of Policy - WSJ
WASHINGTON—Federal Reserve officials faced divisions over their decision to cut interest rates last month and saw their move as a “recalibration” rather than the start of a more aggressive easing cycle.
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Home Depot cuts sales outlook as it warns on hit from tariffs | Financial Times
US home improvement retailer Home Depot cautioned that the US-China trade war meant its sales growth this year would be slower than previously expected, joining a growing list of American companies whose performance is being dented by tariffs.
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Banks Get Some Relief in Volcker-Rule Changes - WSJ
WASHINGTON—Banks are on the verge of getting some relief from Volcker-rule limits on speculative trading, one of the industry’s priorities in amending the regulations put in place after the financial crisis.
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Trump Weighs Options to Spur the Economy - WSJ
WASHINGTON—President Trump said he is considering measures to bolster the economy, including a possible reduction in capital-gains taxes, and continued to press the Federal Reserve to cut interest rates even as he played down warning signs of a possible slowdown.
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States to Move Forward With Antitrust Probe of Big Tech Firms - WSJ
WASHINGTON—A group of states is preparing to move forward with a joint antitrust investigation of big technology companies, according to people familiar with the situation, adding another layer of scrutiny to an industry already under a federal spotlight.
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Data-Center Market Is Booming Amid Shift to Cloud - WSJ
Data centers are hot properties, even as many businesses are shedding them to shift their information-technology operations online, to the cloud.
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Trump Administration Delays Ban on Huawei Working With U.S. Firms - WSJ
WASHINGTON—The Trump administration agreed Monday to allow some U.S. companies another 90 days to continue doing business with Huawei Technologies Co., a move it said would help small rural telecom carriers dependent on Huawei gear.
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Despite Reprieve, New Tariffs Will Hit Wide Range of Consumer Goods - WSJ
WASHINGTON—President Trump may have scaled back tariffs on Chinese goods this week to spare holiday shoppers, but consumers are still likely to feel a pinch.
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China’s Central Bank Reforms Rates to Boost Cheap Funding for Businesses - WSJ
BEIJING—China’s central bank on Saturday unveiled a long-awaited reform to its interest-rate mechanism, a move aimed at reducing financing costs for businesses struggling with a cooling economy.
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Trump Administration Plans to Give Huawei More Time to Work With U.S. Customers - WSJ
WASHINGTON—The Trump administration is preparing to extend the length of a license that has enabled Huawei Technologies Co. to continue working with U.S. customers despite national-security concerns that landed the Chinese telecom company on an export blacklist earlier this year.
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week33 | 2019

week33 | 2019

CGCC News
Brio named to the Inc. 5000
On August 14, 2019, Inc. magazine announced that CGCC Associate Member, Brio Benefit Consulting, was named on the annual...
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CGCC Foundation sponsored “2019 Summer Concert of Chinese Opera” in Flushing
On August 10th, CGCC Foundation sponsored New York Chinese Opera Society’s (NYCOS) “2019 Summer Concert of Chinese Opera...
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Weekly Headlines
Chinese new subway cars start operation in U.S. Boston
BOSTON, the United States, Aug. 14 (Xinhua) — New subway cars built by a Chinese company for Boston residents started their first run in the U.S. city of Boston on Wednesday.
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Alibaba’s Sales Jump 42%, Beating Expectations - WSJ
BEIJING— Alibaba Group Holding Ltd. BABA 3.03% reported a 42% increase in sales and more than doubled profit in its latest quarter, as the Chinese online retailer booms despite a saturated e-commerce market and an economy weakened by the U.S.-China trade conflict.
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U.S. Shoppers Splurge in Face of Global Headwinds - WSJ
WASHINGTON—American shoppers gave the U.S. economy a boost in July, countering manufacturing-sector weakness, while Wall Street continued to have jitters about faltering growth.
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Global Stocks Slide After China Promises Retaliation for Tariffs - WSJ
Global stocks fell after China vowed to take “necessary countermeasures” over U.S. plans for a new tariff on Chinese imports, compounding investors’ concerns about weakness in the global economy.
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Trump Ties Trade Deal to China Action in Hong Kong, Suggests Meeting With Xi - WSJ
WASHINGTON—President Trump suggested a “personal meeting” with China’s President Xi Jinping to discuss the escalating crisis in Hong Kong and warned China it must respond “humanely” to the protests if it wants to strike a trade deal.
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Warning Signs Point to a Global Slowdown - WSJ
Warning signs pointing to a deepening global economic slowdown—and the risk of recession—are flashing more brightly.
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China industrial output growth weakest in 17 years in July | Financial Times
Growth in Chinese industrial output fell to its slowest rate in 17 years in July, official data indicated, in the latest sign that demand for goods in the world’s number two economy is sliding amid a damaging trade war with the US. 
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Americans’ View of China Worsens as Trade Conflict Persists - WSJ
SHANGHAI—Negative attitudes toward China are hardening among Americans, who increasingly see Beijing as an economic and military adversary, according to new research that shows opinions souring as the trade war between the two countries intensifies.
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U.S. Retreats on Chinese Tariff Threats, Stocks Soar - WSJ
WASHINGTON—The Trump administration abruptly suspended plans to impose new tariffs on about $156 billion in goods from China, saying the move was driven by concerns about the impact an escalating trade fight would have on businesses and consumers ahead of the holiday shopping season.
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Braced for the global downturn
It’s the calm before the storm. Last week’s market volatility was ostensibly triggered by the US-China trade conflict turning into a full-blown currency war. But at heart, it’s about the inability of the Federal Reserve to convince us that its July rate cut was merely “insurance” to protect against a future downturn. As any number of indicators now show — from weak purchasing managers' indices in the US, Spain, Italy, France and Germany, to rising corporate bankruptcies and a spike in US lay-offs — the global downturn has already begun.
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Weaker Yuan Tests China’s Ability to Prevent Capital Flight
China’s biggest experiment with its currency since a botched devaluation four years ago suggests its leaders believe they can stem a serious flood of money fleeing its borders.
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10% Tariffs Were Manageable. At 25%, Businesses Are Squirming.
ZHANGJIAGANG, China—When the U.S. raised its tariffs on Chinese imports in May, Harlan Stone knew his U.S. vinyl flooring importing business had to move fast.
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Investment bank job cuts near 30,000 as outlook sours | Financial Times
Global investment banks are shedding tens of thousands of jobs as falling interest rates, weak trading volumes and the march of automation create a brutal summer for the sector.
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Huawei unveils its own phone, computer and smart device OS | Financial Times
Huawei unveiled an operating system that can run phones, computers and smart devices, but said it would strongly prefer to keep using Android and Windows if it can.
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Trump Casts Doubt on Next Round of China Talks - WSJ
WASHINGTON—President Trump raised the possibility that trade talks with China could break off, causing stocks to fall.
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week32 | 2019

week32 | 2019

CGCC News
CGCC Hosted “Compliance Topics for Chinese Enterprises in the U.S.: Experience and Insights”
On August 6th, China General Chamber of Commerce-USA (CGCC) hosted CGCC Legal and Policy Event: "Compliance Topics for C...
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Weekly Headlines
Uber Posts Its Largest Quarterly Loss - WSJ
Uber Technologies Inc. UBER 8.24% recorded its largest-ever quarterly loss as it was weighed down by heavy competition in Latin America and elsewhere, as well as a big expense related to its initial public offering.
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Facebook Offers News Outlets Millions of Dollars a Year to License Content - WSJ
Facebook Inc. is offering news outlets millions of dollars for the rights to put their content in a news section that the company hopes to launch later this year, according to people familiar with the matter.
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Chinese Exports Stage Surprising Turnaround in Face of U.S. Trade Battle - WSJ
BEIJING—Chinese exports rebounded in July, buoyed by increased shipments to Europe and Southeast Asia, but economists expect the turnaround to be short-lived as Beijing and Washington escalate their trade battle.
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Trio of Central Banks Surprise Markets With Aggressive Rate Cuts - WSJ
Three central banks in the Asia-Pacific region lowered interest rates in a surprisingly aggressive fashion Wednesday as the fallout from the U.S.-China trade war intensified, suggesting the global rate-cut cycle will gather steam in the months ahead.
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AI Is Hot and SoftBank’s New Tech Megafund Offers Cash to Burn - WSJ
SoftBank Group Corp. 9984 -2.72% ’s plans for a second technology megafund focused on artificial-intelligence startups is poised to flood an already-hyped sector with more cash as skepticism mounts about investor exuberance for such companies.
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China’s Official Yuan Rate Crosses 7-Per-Dollar Milestone - WSJ
China set a daily anchor for trading in its currency at the weakest level since 2008 on Thursday, crossing the symbolic 7-per-dollar threshold that the central bank had already allowed markets to breach earlier this week.
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Ray Dalio remains bullish on China despite trade war with US
Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has made a resounding argument for investing in China, even as a trade war between Beijing and Washington appears to be escalating.
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More Stock-Market Volatility Expected as U.S., China Dig In Heels Over Trade - WSJ
The stock market recovered some of its losses Tuesday. But major indexes remain down more than 4% from their records, and Wall Street analysts are urging investors to brace for further turbulence.
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China Digs In to Outlast U.S. in Trade Dispute - WSJ
BEIJING—The volley-for-volley trade war between China and the U.S. is accelerating at a time when Chinese President Xi Jinping can ill afford to make concessions, raising the likelihood of a protracted struggle between the world’s two biggest economies.
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Stocks Regain Ground, Yuan Stabilizes - WSJ
Stocks regained ground around the world and U.S. futures ticked higher after China’s central bank signaled it wouldn’t let the yuan fall much further, a day after escalating trade tensions triggered sharp declines on Wall Street.
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Fear a Weak Yuan, but No Repeat of the Last China Crisis - WSJ
It’s rare that anything labeled as a psychologically important level in markets actually matters. But seven yuan to the dollar—breached on Monday—really does. The weakening of the currency signals the opening of another front in the trade war, and brings with it big risks for investors.
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U.S. Designates China as Currency Manipulator - WSJ
WASHINGTON—The U.S. Treasury labeled China a currency manipulator after the Chinese central bank let the yuan depreciate, capping a day of trade-war escalations that sparked a global fall in financial markets and fears the clash could stall the U.S.’s economic expansion.
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China’s Yuan Breaches Critical Level of 7 to the Dollar, Hits Record Offshore Low - WSJ
China’s currency Monday broke through the psychologically important level of 7 yuan to the dollar, hitting a record low for offshore trading, days after President Trump threatened to broaden U.S. tariffs to cover essentially all Chinese imports.
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Trump Ordered New Chinese Tariffs Over Objections of Advisers - WSJ
WASHINGTON—President Trump overruled advisers to ramp up tariffs on China after a heated exchange in which he insisted levies were the best way to make Beijing comply with U.S. demands, according to people familiar with the matter.
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Tariff Fight Knocks Off China as Top U.S. Trading Partner - WSJ
WASHINGTON—The standoff between Washington and Beijing has cost China its position as the U.S.’s top trading partner, a shift that could accelerate as President Trump moves to ratchet up tariffs even more.
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week31 | 2019

week31 | 2019

CGCC News
CGCC Hosted Lunch & Learn Event: Cyber & Information Security Awareness Briefing with MGO Technology Group
On August 2nd, China General Chamber of Commerce-USA (CGCC) hosted Lunch and Learn: “Cyber & Information Security Awaren...
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54 CGCC Member Companies Ranked in the 2019 Fortune Global 500
On July 22th, Fortune magazine released its annual 2019 Global 500 rankings, a list of the world’s largest 500 corporati...
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Greenland USA Statement
Official Statement from GreenlandUSA
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Weekly Headlines
Renminbi drops to 2019 low on trade war escalation | Financial Times
China’s renminbi weakened sharply on Friday to its lowest level this year following an escalation in trade tensions with the US, as President Donald Trump moved to impose additional tariffs on imports of Chinese goods overnight. 
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U.S.-China Investments Continue to Decline - WSJ
WASHINGTON—The flow of investment money between China and the U.S. continued to decline in the first half of 2019 as trade tensions took their toll, according to a new report.
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Trump Says U.S. Will Hit China With More Tariffs - The New York Times
WASHINGTON — President Trump, frustrated by increasingly fruitless negotiations with China, said Thursday that the United States would impose a 10 percent tariff on an additional $300 billion worth of Chinese imports next month, a significant escalation in a trade war that has dragged on for more than a year.
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Beijing hits back at Trump after brief round of trade talks | Financial Times
Beijing has hit back at Donald Trump, saying it is “meaningless” for Washington to try to pressure Beijing during trade talks, a day after the US president accused China of not negotiating in good faith.
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US-China trade war starts to take a toll on employment | Financial Times
The US-China trade war weighed on manufacturers and smaller employers struggled to compete in a tight labour market, even as hiring by US private sector employers rebounded in July to the highest in three months.
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U.S.-China Trade Talks End With No Deal in Sight - The New York Times
American and Chinese negotiators finished talks on Wednesday with little progress toward ending a trade war that has shaken the world’s economic confidence and rattled markets.
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US contempt orders upheld against three Chinese banks | Financial Times
A US appeals court has upheld contempt orders against three Chinese banks that failed to comply with subpoenas from the Department of Justice.
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Huawei Shows Resilience in the Face of U.S. Blacklisting - WSJ
SHENZHEN, China—Huawei Technologies Co. said revenue rose sharply in the first half of the year despite a U.S. export blacklisting, but the Chinese telecommunications giant signaled tougher times ahead as it copes with uncertainty around its access to U.S. technology.
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U.S.-China Trade Talks Resume With No Breakthroughs in Sight - WSJ
SHANGHAI—Chinese and U.S. negotiators resumed trade talks, taking tentative steps to overcome mutual mistrust and limited political appetite for a breakthrough agreement after weeks of recriminations.
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Greenland USA Statement - China General Chamber of Commerce - U.S.A.
Recently, some Chinese media reports that “FBI Raid Los Angeles City Hall and LA Department of Water and Power (DWP), Greenland and Oceanwide are both involved of bribing”. The report alleges that “Greenland is being suspected of bribing the Los Angeles City government officials”. Such allegation is false which is entirely inconsistent with the facts of this investigation. It causes severe damages to the reputation of Greenland USA and our projects and huge financial loss. Therefore, we make the following statement:
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Why the Fed Is Cutting Rates When the Economy Looks Good - WSJ
Federal Reserve Chairman Jerome Powell is leading his colleagues to cut interest rates this week for the first time since 2008, even though the economy looks healthy, partly because it isn’t behaving as expected.
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U.S. and China Resume Trade Talks Amid Dim Prospects for Deal - The New York Times
Trade talks between the United States and China resumed on Monday with prospects dimming for a transformative deal, as both sides appeared more focused on preventing tensions from escalating before the 2020 presidential election than on making concessions.
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Powell prepares to launch pivotal interest rate cut | Financial Times
Jay Powell is this week widely expected to announce the first cut in US interest rates for more than a decade, as the Federal Reserve chairman seeks an insurance policy against a weakening global outlook and rising trade tensions.
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Trump Denounces Both China and WTO - WSJ
WASHINGTON—President Trump ramped up his attacks on China and the world trading system, threatening Friday to have the U.S. unilaterally revoke the special breaks global rules grant to nations that call themselves developing countries.
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U.S.-China Trade Talks Set to Resume With Modest Expectations - WSJ
Negotiators for the U.S. and China will face off in Shanghai this week in another attempt to piece together a trade accord amid much lowered expectations for the kind of sweeping deal that appeared within reach this spring.
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week30 | 2019

week30 | 2019

Weekly Headlines
China Isn’t a Threat to Your Commute - WSJ
A Chinese company with state links is helping build U.S. infrastructure. Could that put national security or corporate secrets at risk?
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US increases federal aid for farmers hit by China trade war | Financial Times
The Trump administration has increased federal aid to US farmers hurt by its trade dispute with China, buying time with an important rural constituency as negotiations with Beijing drag on.
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China Needs New Places to Sell Its Mountain of Stuff - The New York Times
China has too many factories making too many goods. Thanks to its punishing trade war with the United States, its biggest overseas customer isn’t buying like before.
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China's Wanda Sports cuts U.S. IPO size, lowers price range - Reuters
SINGAPORE (Reuters) - Wanda Sports Group Co Ltd, a unit of Chinese conglomerate Dalian Wanda Group, has cut the size of its U.S. initial public offering (IPO) to up to $308 million from a previous size of up to $500 million.
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Toyota Seeks Tech Strength With $600 Million Investment in Didi Chuxing - WSJ
TOKYO— Toyota Motor Corp. TM 0.95% is investing $600 million in China’s biggest ride-hailing company, the latest in a global set of investments designed to prepare Toyota for growth beyond car manufacturing.
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Facebook Posts Strong Earnings, Revenue Growth - WSJ
Facebook Inc. pushed past a record-setting privacy fine, posting strong second-quarter earnings that show the resilience of its social-media empire despite persistent negative headlines and intensifying Washington scrutiny.
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Justice Department to Open Broad, New Antitrust Review of Big Tech Companies - WSJ
WASHINGTON—The Justice Department is opening a broad antitrust review into whether dominant technology firms are unlawfully stifling competition, adding a new Washington threat for companies such as Facebook Inc., Google, Amazon.com Inc. and Apple Inc.
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Congress Moves Toward Ban on Buying Chinese Buses, Railcars Over Spy Fears - WSJ
China’s push to gain a bigger foothold in U.S. public transit systems could derail in Congress, which is moving to bar the use of federal funds to buy Chinese buses and railcars.
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U.S., China Set to Resume Trade Talks in Shanghai Next Week - WSJ
WASHINGTON—A U.S. delegation is expected to travel to China for trade talks next week, according to a senior administration official, marking what would be the first in-person talks since the Group of 20 summit last month.
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Ford’s Shrinking China Business Is Hurting Its Global Ambitions - WSJ
SHANGHAI— Ford Motor Co. F -0.30% ’s multibillion-dollar push to expand in China this decade has veered off course, leaving it mired in a sales slump that is weighing on its future in the world’s largest auto market.
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Apple in Advanced Talks to Buy Intel’s Smartphone-Modem Chip Business - WSJ
Apple Inc. AAPL 2.29% is in advanced talks to buy Intel Corp. INTC 2.15% ’s smartphone-modem chip business, according to people familiar with the matter, a move that would jump-start the iPhone maker’s push to take control of developing the critical components powering its devices.
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Trump Touts Tech Industry Support for Huawei Exemptions - WSJ
WASHINGTON—Moving to rekindle stalled trade talks with Beijing, President Trump joined with top technology industry executives Monday in a show of solidarity, as the U.S. moves to ease restrictions on sales to China’s Huawei Technologies Co.
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Federal Reserve sets sights on quarter-point rate cut | Financial Times
The Federal Reserve is set to cut interest rates by 25 basis points at its policy meeting this month, as the US central bank settles on a cautious approach to monetary easing despite political pressure for deeper stimulus.
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Stocks Surge on First Day for China’s Latest Answer to Nasdaq - WSJ
SHANGHAI—China’s new market for homegrown technology companies opened with a bang, with stocks doubling, tripling or more than quadrupling in value on its first day.
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Chinese Money in the U.S. Dries Up as Trade War Drags On - The New York Times
Growing distrust between the United States and China has slowed the once steady flow of Chinese cash into America, with Chinese investment plummeting by nearly 90 percent since President Trump took office.
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week29 | 2019

week29 | 2019

CGCC News
CGCC Hosted Lunch & Learn Event: Introduction to American Corporate Partners
On July 19th, 2019, China General Chamber of Commerce-USA(CGCC) hosted Lunch and Learn: “ Introduction to American Corpo...
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Newmark Knight Frank Releases New Report - China Occupancy and the Manhattan Real Estate Market
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Weekly Headlines
No change to US dollar policy ‘as of now’, says Treasury chief | Financial Times
US Treasury secretary Steven Mnuchin on Thursday said there was “no change” to Washington’s stance on the dollar “as of now”, amid mounting speculation over whether the Trump administration will act to weaken the dollar.
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Global Easing Cycle Gains Momentum as Central Banks Cut Rates - WSJ
ZURICH—Central banks in Asia and South Africa lowered their interest rates Thursday, joining a global easing bandwagon that started earlier this year in the Asia-Pacific region and is expected to include the U.S. and Europe within weeks.
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Senators Introduce Bill Restricting Huawei From Buying, Selling U.S. Patents - WSJ
Republican senators introduced legislation on Thursday aimed at blocking Huawei Technologies Co. from buying or selling U.S. patents in the latest action by Washington targeting the Chinese telecom giant.
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Netflix Reports First Drop in U.S. Users in Nearly a Decade - WSJ
For the first time in nearly a decade, the number of people subscribing to Netflix Inc. in the U.S. declined, an underwhelming performance for the streaming giant that comes as a slew of rivals are about to enter the field.
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Share Buybacks Surge in China - WSJ
SHANGHAI—Chinese companies are buying back record amounts of stock, a move authorities have encouraged as they seek to protect a fragile market recovery.
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Foreign Buying of U.S. Homes Suffers Record Drop - WSJ
Foreign purchases of U.S. homes have dropped by half over the last two years, a fresh blow to the top end of the market in New York City, Miami and cities in California.
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Bitcoin Drops Below $10,000 Again as Congress Scrutinizes Libra | Bloomberg News
Bitcoin slid below $10,000 just three weeks after surging above it for the first time in more than a year as U.S. legislators expressed deep skepticism about the viability of cryptocurrencies.
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Chinese Esports Group Backed by Tencent Raises $775 Million in U.S. IPO - WSJ
A Chinese video-streaming service raised $775 million through a Nasdaq listing, capitalizing on the growing popularity of watching others play games on the internet.
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Trump Targets Google’s China Ties, Citing Billionaire Investor Peter Thiel - WSJ
President Trump said the U.S. government would look into national-security concerns raised by billionaire investor and Facebook Inc. board member Peter Thiel about Google’s ties to China.
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Citigroup Reports Higher Earnings as Bank Results Begin - WSJ
Strong U.S. consumer banking gave Citigroup Inc. C -0.08% a boost in the second quarter, helping it overcome slow trading and corporate activity.
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Facebook Confronts Bipartisan Resistance to Cryptocurrency Plans - WSJ
WASHINGTON—The Trump administration raised national security concerns about Facebook Inc. FB -0.47% ’s plans to launch a cryptocurrency as a growing chorus of U.S. and international officials voiced resistance to the tech giant operating its own digital money.
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The One Amazon Prime Day Deal That Walmart and Target Can’t Match - WSJ
Amazon.com Inc. AMZN 0.50% and other big retailers kicked off an annual July sales event that has come to rival Black Friday in terms of discounts and the surge in online shopping.
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China’s economy grows at slowest rate in nearly 30 years | Financial Times
China’s economy grew at its slowest pace in almost three decades in the second quarter as the trade war with the US took its toll on exports.
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Huawei Plans Extensive Layoffs in the U.S. - WSJ
Huawei Technologies Co. is planning extensive layoffs at its U.S. operations, according to people familiar with the matter, as the Chinese technology giant continues to struggle with its American blacklisting.
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Manufacturers Move Supply Chains Out of China - WSJ
U.S. manufacturers are shifting production to countries outside of China as trade tensions between the world’s two biggest economies stretch into a second year.
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week28 | 2019

week28 | 2019

CGCC News
CGCC-D.C. and China Telecom Americas Successfully Hold 2019 Inaugural “China Telecom Cup” Basketball Championship
On July 2nd, China General Chamber of Commerce – Washington D.C. Chapter (CGCC-D.C.) in collaboration with China Telecom...
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CGCC Visits China Daily USA to Discuss Future Collaboration
On July 3rd, China General Chamber of Commerce-USA (CGCC) visited China Daily USA at their U.S. headquarters in New York...
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Weekly Headlines
Five things to watch when China announces quarterly GDP data | Financial Times
When China’s National Bureau of Statistics reported that the world’s second-largest economy grew at a faster-than-expected rate of 6.4 per cent in the first quarter compared with the same period in 2018, it was yet another reason for global investors to cheer.
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Fed’s Powell Says Facebook’s Libra Raises ‘Serious Concerns’ - WSJ
WASHINGTON—Federal Reserve Chairman Jerome Powell and legislators in both parties expressed broad concern about Facebook Inc. ’s plan to create a cryptocurrency-based payment network, underscoring the intense legislative and regulatory scrutiny the project could face.
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Strains Emerge in China’s $3 Trillion Financing Market - WSJ
Risky borrowers are running into trouble in China and that is putting pressure on trust companies, an important corner of the country’s shadow-banking system.
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Big Tech Is a Likely Target at White House Social-Media Summit - WSJ
WASHINGTON—A “Social Media Summit” at the White House this week will offer a platform for supporters of President Trump who say they face censorship by left-tilting Big Tech—and a preview of a likely theme in Mr. Trump’s re-election campaign.
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Doctor Visits Could Provide Relief to Uber and Lyft - WSJ
Uber UBER -1.13% and Lyft LYFT 0.76% have long been competing to take riders to work, to the movies or to the airport. Increasingly, they also are jockeying for the chance to give patients subsidized rides to the doctor’s office.
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Deflation Stalks Chinese Industry Again - WSJ
Right now, it’s a great time to be selling pork into China. It’s a bad time to be selling just about anything else—and a very bad time to be a Chinese central banker.
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China producer prices flat in June, consumer inflation holds steady | Financial Times
China producer prices were unchanged in June, snapping almost three years of consecutive growth, according to official figures, while the pace of consumer price increases remained steady despite another jump in the cost of pork.
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Airbus Poised to Overtake Boeing as Biggest Plane Maker - WSJ
Boeing Co. BA 0.56% is poised to lose its place as the world’s largest plane maker to Airbus EADSY 0.43% SE after a reign of seven years, as its jetliner deliveries fell by more than a third in the first half of 2019 with the grounding of its 737 MAX aircraft.
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US announces significant relaxation of Huawei ban | Financial Times
The Trump administration has announced a significant relaxation of its restrictions on US companies selling to Huawei, saying the ban will only apply to products that are related to national security.
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Missing Spending Stimulus Weighs On U.S. Growth - WSJ
WASHINGTON—The economy was supposed to get a lift this year from higher government spending enacted in 2018, but so far much of that stimulus hasn’t shown up, puzzling economists.
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U.S.-Stock Funds Are Up 17% So Far in 2019 - WSJ
The stock market keeps rising, and fund investors keep turning away.
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U.S., China Tentatively Move to Revive Trade Talks - WSJ
Top American and China negotiators are set to speak this week in an effort to revive stalled trade talks, as discord over prior commitments and political considerations threaten to bog down discussions.
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Where to Invest When the Fed Cuts Rates
Stocks from New York to Brazil are racing to new highs. A key reason? Many believe the Federal Reserve is pivoting from raising interest rates to lowering them once again. Investors say that by lowering the cost of borrowing for consumers and businesses, rate cuts will spur spending and potentially prolong the longest bull market in history.
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Huawei Disputes U.S. Cyber Firm’s Findings of Flaws in Gear
China’s Huawei Technologies Co. disputed findings from a U.S. cybersecurity firm that its gear is far more likely to contain flaws than equipment from rival companies, characterizing the analysis as incomplete and inaccurate.
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U.S. Hiring Bounces Back, Easing Fears of a Jobs Slowdown
WASHINGTON—Robust June hiring suggests a decade of domestic growth is powering ahead despite global headwinds.
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week27 | 2019

week27 | 2019

Weekly Headlines
HP, Dell and Microsoft join electronics exodus from China - Nikkei Asian Review
Global consumer electronics makers HP, Dell, Microsoft and Amazon are all looking to shift substantial production capacity out of China, joining a growing exodus that threatens to undermine the country's position as the world's powerhouse for tech gadgets.
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Christine Lagarde tapped as new president of Europe's central bank - CNN
Christine Lagarde has been tapped as the next president of the European Central Bank, an appointment that would make her the first woman to lead the powerful institution.
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US economic expansion becomes longest in history | Financial Times
The US economy is enjoying its longest uninterrupted stretch of expansion since at least 1854, leaping over hurdles including the eurozone crisis, turbulence in the developing world and now trade wars to surpass the 1990s economic boom — at least in duration.
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Timiraos’s Take: Powell’s Chicago Takeaway—Run It Hotter | WSJ
Fed Chairman Jerome Powell after a recent conference in Chicago said the tight labor market is spreading benefits to low- and middle-income communities, underscoring the importance of sustaining the economic expansion.
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Major or Minor? Lawmakers Keep Close Eye on Huawei Concession - WSJ
President Trump’s decision to let Huawei buy technology equipment again from the U.S. is emerging as a fresh source of tension between the administration and Senate Republicans.
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China Accelerates the Opening of Its Financial Sector to Foreigners - WSJ
DALIAN, China—China will speed up the timeline for opening its financial sector, Premier Li Keqiang said, an effort to attract more business and investment as the trade dispute with the U.S. continues.
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Chinese Stocks Are at the Mercy of Trade Talks but Cushioned by Beijing - WSJ
Chinese stocks enter the second half of the year dogged by trade tensions and doubts about the resilience of China’s economy and currency.
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Trade Truce a Relief to Markets—For Now - WSJ
Stocks and other risky assets are likely to enjoy a brief rally after the emergence of a trade truce over the weekend, though concerns about the U.S. and China’s long-term relationship and the path of interest rates could keep a lid on any gains.
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U.S.-China Trade Talks Are Back On but Obstacles Remain - WSJ
OSAKA, Japan—President Trump and President Xi Jinping of China managed to get trade talks back on track this past weekend, but an even tougher job lies ahead—appeasing hard-line factions within their own governments demanding they give no quarter.
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week26 | 2019

week26 | 2019

CGCC News
CGCC Hosted Lunch & Learn Event: Event Planning in NYC
On June 28th, China General Chamber of Commerce-USA(CGCC) hosted Lunch & Learn Event: ”Lunch with Lawton Tootle” at the ...
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CGCC & Paul, Weiss Co-host Panel Discussion on "Detecting and Reporting Suspicious Transactions and Preventing Sanctions Violations"
On June 25th, China General Chamber of Commerce-USA (CGCC) co-hosted an event with Paul, Weiss, Rifkind, Wharton & Garri...
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Weekly Headlines
Huawei Hits Back at Claims It Steals Secrets - WSJ
SHENZHEN, China—Chinese technology giant Huawei Technologies Co. defended itself against allegations that it violates other companies’ intellectual-property rights, saying it has never been forced by a court to pay fines for stealing secrets.
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Senate Takes Aim at Chinese Banks Doing Business With North Korea - WSJ
WASHINGTON—The U.S. Senate took aim at Chinese banks that do business with North Korea, with a vote that struck at institutions that U.S. lawmakers view as the chief violators of United Nations sanctions.
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When It Comes to Tariffs, Many U.S. Companies Are on China’s Side - WSJ
WASHINGTON—Chinese President Xi Jinping isn’t the only one pushing President Trump to lay off on tariffs.
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First IPO on China’s Nasdaq-Style Tech Board Sparks a Small Frenzy - WSJ
SHANGHAI—China’s latest experiment with a Nasdaq-like listing venue for homegrown technology companies got a boost this week, after the first initial public offering of an electrical-equipment maker drew hordes of investors.
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Facebook’s Zuckerberg Backs Privacy Legislation - WSJ
Mark Zuckerberg, chief executive and co-founder of Facebook Inc., FB -0.62% endorsed federal privacy legislation and greater regulation of political advertising, even as he cast governments as too slow to address many of the internet’s thorniest problems.
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China to Insist U.S. Lifts Huawei Ban as Part of Trade Truce - WSJ
OSAKA, Japan—Chinese President Xi Jinping plans to present President Trump with a set of terms the U.S. should meet before Beijing is ready to settle a market-rattling trade confrontation, raising questions of whether the two leaders will agree to relaunch talks.
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Foreign Investing in Chinese Commercial Property Hits New High - WSJ
Foreign investors are starting to buy commercial real estate in China again, shrugging off frothy prices and the trade dispute with the U.S. while focusing on China’s maturing domestic market and longer-term growth prospects.
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Canada Suspends Meat Exports to China - WSJ
OTTAWA—Canada late Tuesday halted all China-bound meat exports after a probe sparked by Beijing’s concerns revealed forged certificates related to certain shipments of Canadian pork.
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Sagging Trade Flows Spark Alarm Before G-20 Meeting - WSJ
Higher U.S. tariffs and other trade barriers have hit world trade flows, presenting a challenge for leaders from the Group of 20 large economies preparing to meet in Japan.
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Google’s Enemies Gear Up to Make Antitrust Case - WSJ
As U.S. officials prepare an antitrust probe of Alphabet Inc.’s GOOG -0.57% Google and possibly other Silicon Valley giants, a loose-knit crew of its rivals is gearing up to help.
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Hardware Startups Struggle to Cope With Tariffs on Chinese Goods - WSJ
Many American startups, especially consumer-hardware makers, are facing difficult choices as they cope with escalating trade tensions.
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FedEx Sues Commerce Department Over Restrictions on Huawei - WSJ
FedEx Corp. , after botching some deliveries for Huawei Technologies Co., filed a lawsuit Monday to stop the U.S. government from requiring the package giant to enforce a crackdown on the Chinese telecommunications-gear maker.
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China's US Treasury holdings are not a viable trade war weapon | Financial Times
The pace at which China is selling its holdings of US Treasuries has accelerated dramatically since the beginning of 2018.
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Apple warns Trump tariffs would hurt its competitiveness | Financial Times
Apple has warned that proposed tariffs on imports of iPhones and its other flagship products from China to the US would “tilt the playing field” in favour of its overseas rivals and dent its multibillion-dollar contribution to the American economy.
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US considers 5G Equipment to be made outside China: Report | Fox Business
In a move that could continue to fan the flames of the trade war Opens a New Window. between the U.S. and China Opens a New Window. , the Trump administration is examining whether to require that next-generation 5G cellular equipment used in the U.S. be designed and manufactured outside China.
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week25 | 2019

week25 | 2019

Weekly Headlines
Early talks reveal G20 members’ frustration with China and the US | Financial Times
The US and China will come under pressure to ease trade tensions at the forthcoming G20 summit in Osaka as the Japanese presidency seeks to steer the world’s most powerful economies away from confrontation.
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S&P 500 Hits Record Close After Fed Hints at Interest-Rate Cut - WSJ
The S&P 500 surged to its first record close since April, underscoring confidence on Wall Street that the U.S. economy and global markets remain healthy despite a fresh tumble in bond yields around the world.
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Apple Explores Moving Some Production Out of China - WSJ
Apple Inc. AAPL 0.80% is asking suppliers to study shifting final assembly of some products out of China, people familiar with the matter said, as trade tensions prompt the company to consider diversifying its supply chain.
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Facebook’s Sheryl Sandberg: ‘We Understand’ Concerns About Big Tech Companies - WSJ
CANNES, France— Facebook Inc. FB -0.53% Chief Operating Officer Sheryl Sandberg said that the social-media company failed to anticipate foreign interference aimed at disrupting the 2016 U.S. presidential election.
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Fed Holds Rates Steady, Hints at Future Cuts if Outlook Doesn’t Improve - WSJ
WASHINGTON—Federal Reserve officials held interest rates steady on Wednesday but strongly suggested they would cut them in the months ahead if an economic outlook clouded by uncertainty over trade policy didn’t improve.
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Lighthizer Plans Call With Chinese Counterpart Ahead of Trump-Xi Talks - WSJ
WASHINGTON—President Trump’s top trade negotiator said he plans to contact his Chinese counterpart as the Trump administration gears up for a high-level meeting next week to chart a path forward in the two nations’ trade dispute.
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Facebook Unveils Cryptocurrency Libra in Bid to Reshape Finance - WSJ
Facebook Inc. FB -0.29% unveiled plans to launch a cryptocurrency in a move that could diversify its business from advertising while expanding into financial services long dominated by Wall Street.
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ECB Signals Possible Rate Cut Prompting Trump Tweets - WSJ
SINTRA, Portugal—European Central Bank President Mario Draghi signaled the bank could roll out fresh stimulus as soon as July, sending the euro lower against the dollar and prompting an unusual rebuke from President Trump.
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Trump and Xi Agree to Discuss Trade at Next Week’s G-20 Summit in Japan - WSJ
WASHINGTON—President Trump and Chinese President Xi Jinping agreed to meet in Japan next week, lifting financial markets and spurring hopes for a trade truce that could stave off a fresh round of tariffs.
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Huawei Expects $30 Billion Revenue Hit From U.S. Clampdown - WSJ
The U.S. campaign against Huawei Technologies Co. is taking a toll, with the company’s founder forecasting a hit to revenue of about $30 billion this year and next.
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Amazon Struggles to Advance in Videogame Industry - WSJ
Amazon.com Inc.’s AMZN 0.88% yearslong effort to invade the $130 billion videogame industry is hitting a rough patch.
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Facebook Unveils Libra, Cryptocurrency Rival to Bitcoin - WSJ
Facebook Inc. formally announced plans to launch a cryptocurrency called Libra, promising a secure blockchain-based payment system backed by hard assets and designed for mainstream users.
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Huawei smartphone sales fall as company cuts revenue forecasts | Financial Times
Huawei’s international smartphone sales fell 40 per cent last month compared to the month before, as the Chinese telecoms equipment maker grapples with the fallout of the US government’s move to cut off critical suppliers.
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As China Tariffs Loom, Some U.S. Companies Say Buying American Isn’t an Option - WSJ
Stephen Pelkey said he has scoured the globe to find fireworks that match the quality of what he buys from China, without success.
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Wilbur Ross Tempers Expectations of U.S.-China Trade Deal at G-20 - WSJ
Commerce Secretary Wilbur Ross played down prospects of a major trade deal if President Trump and China’s President Xi Jinping meet at the Group of 20 summit in Japan later this month, but he said he believes the two sides will ultimately get back to negotiations.
Read More

week24 | 2019

week24 | 2019

CGCC News
Deputy Secretary Karen Dunn Kelley: “We are hopeful to reach mutually beneficial solutions”
On June 10th, China General Chamber of Commerce-USA(CGCC) hosted the 2019 SelectUSA Reception in Washington DC. Karen Du...
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CGCC Launches 2019 Business Survey Report on Chinese Enterprises in the U.S.
On June 10, the China General Chamber of Commerce-USA (CGCC) and CGCC Foundation released 2019 Business Survey Report in...
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Weekly Headlines
Alibaba Files Plans to List in Hong Kong - WSJ
Alibaba Group Holding Ltd. BABA 0.18% has filed confidential paperwork for a Hong Kong listing, according to people familiar with the matter, starting a process that could see the Chinese internet giant raise billions of dollars from a large stock sale in the coming months.
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China’s industrial output growth falls to record low | Financial Times
Chinese factory output slowed to its weakest pace on record last month, adding to pressure on Beijing to unleash further fiscal and monetary stimulus as the trade war with the US remains unresolved.
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Trump Could Retaliate if Xi Balks at Trade Meeting, Kudlow Says - WSJ
WASHINGTON—President Trump could take further action against China if President Xi Jinping doesn’t agree to a meeting at the Group of 20 summit of leading economies in Japan later this month, the White House’s top economic adviser said Thursday.
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Uber, Lyft Drivers Face Stiffer Regulations in New York City - WSJ
New York City intends to renew its cap on new for-hire vehicle licenses, part of a push to tighten its rein on companies like Uber Technologies Inc. and Lyft Inc., and help protect the city’s troubled taxi industry.
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Huawei Presses Verizon to Pay for Patents - WSJ
Huawei Technologies Co. has told Verizon Communications Inc. VZ 0.93% that the carrier should pay licensing fees for more than 200 of its patents, according to people familiar with the matter, further escalating tensions between the Chinese company and the U.S.
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As China Auto Sales Slow, Industry Braces for New Regulations - WSJ
SHANGHAI—Auto sales in China declined for an 11th straight month in May, with the slump in demand showing no sign of easing and the country’s automotive industry bracing for losses tied to new emissions standards.
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Waldorf Astoria to Sell Condos, as Chinese Owners Shrug Off Glut - WSJ
Luxury condos at the Waldorf Astoria hotel are expected to go on sale in the fall, as the historic property’s Chinese owner advances its redevelopment plans despite a market glut and political tensions with the U.S.
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Foxconn Says Prepared to Move Apple Production Out of China if Necessary - WSJ
HONG KONG— Foxconn Technology 2354 -0.16% Group said it is ready to shift production for Apple Inc. AAPL 1.16% out of China if necessary, as the electronics assembler tried to assuage investors’ concerns over the U.S.-China trade conflict.
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Trump warns Xi of further tariffs if G20 talks fail to materialise | Financial Times
Donald Trump, the US president, has warned Xi Jinping, his Chinese counterpart, that a new round of tariffs would be levied on the country’s goods if the two leaders failed to meet at the G20 summit in Japan, as trade tensions continued to simmer between Washington and Beijing.
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U.S. Corporate Cash Piles Drop to Three-Year Low - WSJ
U.S. corporate balance sheets continue to feel the impact of the 2017 U.S. tax overhaul, as companies pivot their capital allocation strategies in response to the new law.
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Monetary Easing Looks Different This Time Around - WSJ
ZURICH—Central banks around the world are responding in different ways to current economic challenges. Some have shifted from modest tightening to pauses. A few have cut rates.
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Trump Says Fed Policy Makers Have Become ‘Very Destructive’ - WSJ
WASHINGTON—President Trump said that the Federal Reserve has given China a competitive advantage over the U.S. with its monetary policy, adding that it is clear some officials haven’t listened to his advice to cut interest rates.
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China’s renminbi hits weakest since November | Financial Times
China’s onshore renminbi fell to its weakest level in six months versus the US dollar on Monday, following comments by the country’s central bank head that hinted the currency could be permitted to slide further.
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U.S., Mexico Reach Deal to Avoid Tariffs - WSJ
President Trump dropped his threat of tariffs on billions of dollars of Mexican imports after negotiators reached a deal on measures to stem the flow of migrants pouring into the U.S. from Mexico, averting a potentially devastating trade fight for both countries.
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Top U.S., Chinese Officials Break the Ice on Trade - WSJ
FUKUOKA, Japan—China and the U.S. held their first high-level meeting on trade since negotiations fell apart a month ago, with U.S. Treasury Secretary Steven Mnuchin saying he had a candid exchange with China’s central bank governor.
Read More

week23 | 2019

week23 | 2019

Weekly Headlines
Fed Begins Debate on Whether to Cut Rate as Soon as June - WSJ
WASHINGTON—Federal Reserve officials are beginning preparations for a June policy meeting with difficult choices to deliberate.
Read More
U.S. trade deficit shrinks on weak imports, exports - Reuters
WASHINGTON (Reuters) - The U.S. trade deficit unexpectedly narrowed in April as imports and exports tumbled, leading economists to warn that the Trump administration’s “America First” agenda was curbing trade between the United States and the rest of the world.
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Lagarde warns of trade war’s ‘self-inflicted wounds’ | Financial Times
Christine Lagarde has warned that rising tariffs between the world’s two largest economies were “self-inflicted wounds” that would hit the already precarious global recovery, calling on both Washington and Beijing to immediately remove the levies.
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Stocks Lure Buyers With Cheapest Valuations in Months - WSJ
One comfort investors have found in the markets’ tumult over the past month: Share prices are looking like relative bargains.
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U.S. Crude Oil Enters Bear Market Due to Global-Growth Fears - WSJ
U.S. crude futures sank into a bear market on Wednesday, falling more than 20% below their April peak, as the global-growth worries gripping financial markets were compounded by fears of a supply glut.
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Trump Warns China Tariffs Possible on Another $300B of Goods - 华尔街日报
President Donald Trump warned Beijing about another potential tariff increase, even as he described “interesting” developments in the U.S.-China trade talks.
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Trade war sparks record foreign outflow from China equities | Financial Times
China’s stock market was hit by the biggest outflow of foreign capital on record in April and May as the trade war with the US and concerns over the stability of the renminbi darkened investors’ view of the country.
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Global Economy Cools Faster Than Expected as Trade Tensions Rise, World Bank Says - WSJ
WASHINGTON—The global economy has stumbled sharply in the first half of the year with trade and investment flows between countries falling faster than expected, according to semiannual forecasts released by the World Bank on Tuesday.
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Trade Tensions Prompt Fed to Put Interest-Rate Cut in Play - WSJ
CHICAGO—Markets rallied Tuesday after Federal Reserve officials said they were closely monitoring the recent escalation in trade tensions and indicated they could respond to any economic deterioration by cutting interest rates.
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Huawei Selling Stake in Undersea-Cable Firm as U.S. Pressure Mounts - WSJ
BEIJING—China’s Huawei Technologies Co. plans to sell its majority stake in an undersea-cable venture, in a move that follows a U.S. pressure campaign against Huawei and efforts to block the cable venture’s projects.
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Apple Touts New Privacy Features Amid Scrutiny of Tech Giants - WSJ
SAN JOSE, Calif.— Apple Inc. AAPL -1.01% sought to tout itself as a digital-privacy crusader with an anonymous login system and tools that prevent apps from tracking a user’s location, a push that is designed to further differentiate it from Google and Facebook Inc., which have built their fortunes on tracking user activity and behavior.
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U.S. Says China Misrepresented Why Trade Talks Broke Down - WSJ
The Trump administration on Monday rebuked China for making statements in recent weeks that it said misrepresented why trade talks between the two nations reached an impasse.
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China decries US tariff ‘coercion’ as trade rhetoric heats up | Financial Times
China has accused the US of “resorting to intimidation and coercion” as Beijing stepped up its trade war counter-offensive with tariff increases on $60bn of American goods and a probe into US delivery group FedEx.
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China, Mexico Signal Willingness to Step Up Trade Talks With U.S. - WSJ
China and Mexico both signaled a willingness to negotiate with Washington over escalating trade issues, while the Trump administration took to the airwaves to defend its use of tariffs to gain concessions from trading partners.
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中国拟建立“不可靠实体清单”制度,反制美国对华为的封杀 - 华尔街日报
中国称将建立一份有损中国企业利益的外国实体黑名单,此举显然意在反制美国政府对华为技术有限公司(Huawei Technologies Co.)的打击行动,令本已愈演愈烈的中美贸易争端进一步升级。
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week22 | 2019

week22 | 2019

CGCC News
CGCC Hosts U.S. – China Governors Collaboration Summit
From May 22nd to May 24th, China General Chamber of Commerce-USA (CGCC) co-hosted the annual U.S.- China Governors Colla...
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Weekly Headlines
Fed’s Patience Tested as Trade Spat Clouds Growth Outlook - WSJ
The recent escalation of the U.S. trade dispute with China—together with the prospect of new tariffs on Mexican imports—is putting the Federal Reserve in a bind.
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Trump Threatens Tariffs on Mexican Imports in Response to Migrant Surge - WSJ
WASHINGTON—President Trump said Thursday the U.S. would impose escalating tariffs on all Mexican imports beginning June 10, in an effort to push the country to deter the flow of asylum-seeking Central American families to the southern border.
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U.S. Economy Remained Robust in First Quarter - WSJ
WASHINGTON—U.S. economic growth remained robust in the first quarter, although fresh government data showed less business investment, a decline in corporate profits and muted consumer spending.
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The Dollar Underpins American Power. Rivals Are Building Workarounds. - WSJ
U.S. allies, looking to buck American control over international trade, are developing alternate systems that don’t rely on U.S. currency.
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Must Xi TV: Popular Chinese and American Anchors Square Off on Trade - WSJ
BEIJING—Hosts from Fox Business Network and Chinese state television discussed U.S.-China trade in a prime-time broadcast, which aired live in the U.S. and on a delay in China.
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With Huawei on Defensive, Ericsson and Nokia Fight Each Other for Edge - WSJ
LONDON—As the U.S. continues its campaign against Huawei Technologies Co., the Chinese telecom-equipment maker’s two biggest rivals are battling each other to take advantage.
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Yield on 10-year Treasury retreats to lowest level since 2017 | Financial Times
The yield on the benchmark 10-year Treasury fell to a 20-month low on Tuesday as escalating trade tensions between the US and China and elevated concerns over a slowing global economy continued to drive interest in safe government bonds.
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Treasury Department Declines to Designate China a Currency Manipulator - WSJ
WASHINGTON—The Treasury Department on Tuesday passed on a chance to designate China as a currency manipulator but continued to highlight the nation’s currency practices as a source of concern.
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Trade Fight, Curbs on Huawei Threaten 5G Growth in U.S. - WSJ
The Trump administration’s offensives aimed at frustrating the 5G ambitions of China and mobile-technology giant Huawei Technologies Co. threaten to impede America’s wireless ambitions, too.
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Wall Street Isn’t Buying What Silicon Valley Is Selling - WSJ
Silicon Valley is pumping out giant startups with expansive visions, but Wall Street isn’t sold.
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Trade Tension Deals Tractor Makers a Fresh Blow - WSJ
Tariffs and trade tensions are pushing makers of U.S. farm-equipment into a deeper ditch.
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Alibaba Considers Listing in Hong Kong - WSJ
Chinese e-commerce titan Alibaba Group Holding Ltd. BABA -0.64% is weighing a plan to list in Hong Kong, according to people familiar with the matter, a move that would create a round-the-clock market for its shares and bring in more investors from the region.
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week21 | 2019

week21 | 2019

CGCC News
CGCC-D.C. Holds Board of Directors Election Xu Tan Elected Chairman
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Weekly Headlines
Donald Trump opens door to including Huawei in China trade deal | Financial Times
Donald Trump said that Huawei, the Chinese telecommunications network company, was “very dangerous” but could still be “included” in a trade deal with Beijing, as the US president announced a $16bn bailout package for farmers hit by escalating tariffs.
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Trump’s Point Man on China Trade Is Still Trying to Close the Deal - WSJ
WASHINGTON—As senior officials from the U.S. and China gathered in the Oval Office in February, President Trump had a simple message for his top negotiator, Robert Lighthizer: Close the deal.
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Trump Administration Rolls Out $16 Billion Farm-Aid Program - WSJ
WASHINGTON—President Trump rolled out a $16 billion plan to help farmers hit by the trade conflict with China and suggested on Thursday that Huawei Technologies Co. could potentially be a bargaining chip in settling the dispute.
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IBM Software Exec Predicts Quantum Computers Will Become Mainstream in Five Years - WSJ
Quantum computers won’t replace today’s traditional computers, but they will become mainstream within five years, a top executive in charge of emerging technologies at International Business Machines Corp. predicted.
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Huawei Feels U.S. Squeeze in U.K., Japan as Partners Curb Business - WSJ
The pressure on Huawei Technologies Co.’s global business is growing as foreign partners back away from the Chinese maker of networking equipment and smartphones in the face of U.S. restrictions.
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Qualcomm’s Practices Violate Antitrust Law, Judge Rules - WSJ
A federal judge’s ruling that Qualcomm Inc. QCOM -10.86% unlawfully stifled competition in the market for wireless chips cast a new cloud over the tech giant and set the stage for further upheaval in its dealings with the world’s smartphone makers.
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U.S. Slows Hiring of Chinese Nationals by Chip Makers - WSJ
The U.S. has sharply slowed approvals for the nation’s semiconductor companies to hire Chinese nationals for advanced engineering jobs, according to industry insiders, a shift that comes amid broad White House efforts to protect U.S. technological know-how.
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China 'committed' to forging new trade deal with Trump, country's ambassador tells Fox News | Fox News
This material may not be published, broadcast, rewritten, or redistributed. ©2019 FOX News Network, LLC. All rights reserved. All market data delayed 20 minutes.
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Big Retailers’ Sales Lag as They Gird for Tariffs - WSJ
Sales at several major chains slowed during the latest quarter, clouding the outlook for the retail sector as it braces for the impact of higher tariffs on merchandise imported from China.
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Trade Disputes Are Weakening Future Growth, OECD Says - WSJ
Conflicts between the U.S. and its major trade partners have weakened business investment around the world, threatening to hamper future as well as current rates of economic growth, the Organization for Economic Cooperation and Development said Tuesday.
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Tesla Stock Hits Lowest Level Since 2016 as Car Maker’s Outlook Debated - WSJ
 TSLA -2.69%Tesla Inc. shares touched their lowest level in more than two years as prices on its bonds also slumped, a sign of investors’ growing doubts about the car maker’s outlook.
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U.S. Plans Temporary Exemptions to Huawei Blacklist - WSJ
U.S. officials said Monday they would grant a handful of temporary exceptions to an export blacklist against Huawei Technologies Co., giving some suppliers and customers of China’s telecom giant a 90-day reprieve from tough trade penalties.
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U.S. Farmers, Wanting a Trade Deal, Brace for Aid Package Some Fear Will Fall Short - WSJ
Stalled trade talks between Beijing and Washington are exacerbating a slump in the U.S. Farm Belt, and many farmers don’t believe an aid package being assembled by the Trump administration will be enough to compensate for the economic damage.
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Google Cuts Off Huawei Smartphones From Some Android Services - WSJ
Google is halting some services for smartphones made by Huawei Technologies Co., according to people familiar with the matter, in a sign that the U.S. decision to deny the Chinese tech giant access to U.S. technology will bite into its booming consumer-device business.
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U.S. Reaches Deal With Canada, Mexico to End Steel and Aluminum Tariffs - WSJ
WASHINGTON—The Trump administration reached agreements with Canada and Mexico to end U.S.-imposed tariffs on steel and aluminum imports and unwind retaliatory measures, removing a major barrier to the three countries’ new trade pact.
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week20 | 2019

week20 | 2019

Weekly Headlines
US consumers start to pay price of trade war with China | Financial Times
Donald Trump has been sounding supremely confident that US consumers will emerge unscathed from his trade war, but economists fear households are already starting to be hit by earlier rounds of tariffs and will face a mounting burden as hostilities escalate.
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Trump Proposes New Immigration Plan Based on Worker Skills - WSJ
WASHINGTON—President Trump outlined his administration’s new immigration proposal on Thursday, declaring it a “common sense” plan that “builds upon our nation’s rich history of immigration.”
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Silicon Valley Will Feel Sting of Export Restrictions Against Huawei - WSJ
A U.S. clampdown on exports to Huawei Technologies Co. threatens to disrupt the Chinese company’s access to critical suppliers across its businesses, from smartphones to 5G equipment—and Silicon Valley could share in the pain.
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Who Pays the Trump Tariffs? We Do, These Americans Say - WSJ
Escalating tariffs between the U.S. and China have fueled an acrimonious debate over who’s paying. President Trump says China; his critics say Americans.
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Alibaba, Tencent Post Robust Results - WSJ
BEIJING—China’s two biggest internet companies are continuing to boom, even as the Chinese economy slows, but Tencent Holdings Ltd. TCEHY -1.15% and Alibaba Group Holding Ltd. BABA 1.58% are looking to new businesses to sustain their staggering growth.
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U.S. Targets Huawei as It Seeks to Revive China Trade Talks - WSJ
WASHINGTON—President Trump signed an executive order that would let the U.S. ban telecommunications gear from “foreign adversaries,” underscoring tensions with China even as the U.S. said it would likely resume trade talks soon in Beijing after reaching an impasse last week.
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Trump to sign order laying ground for Huawei ban | Financial Times
President Donald Trump is poised to issue an executive order as early as Wednesday that would effectively prohibit US companies from using any telecoms equipment manufactured by China’s Huawei.
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U.S. Births Fall to Lowest Rates Since 1980s - WSJ
The number of babies born in the U.S. last year fell to a 32-year low, deepening a fertility slump that is reshaping America’s future workforce.
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Trump Sees China Trade Deal ‘When the Time Is Right’ - WSJ
WASHINGTON—President Trump signaled he was in no rush to reach a trade deal with China and pledged that the federal government would come to the financial aid of American farmers hurt by Beijing’s retaliatory tariffs.
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Bitcoin Surges Above $8,000; Investors Say ‘Crypto Winter’ Is Over - WSJ
Winter is over for the cryptocurrency market.
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U.S. Tariffs Knock Chinese Yuan - WSJ
Escalating trade tensions have pounded the yuan, reviving questions about China’s willingness to use its currency as a tool of trade policy.
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Trade Fight Escalates as China Hits U.S. With Higher Tariffs - WSJ
The U.S.-China trade dispute escalated sharply Monday, as Beijing retaliated against higher U.S. tariffs with plans to increase levies on $60 billion in U.S. imports and Washington laid out nearly $300 billion of new Chinese imports that would face 25% levies as early as this summer.
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US says Trump-Xi trade talks likely at G20 summit - - Financial Times
Donald Trump’s top economic adviser sought to contain the fallout from the escalation of trade tensions with Beijing, saying there was a “strong possibility” the US president would meet with Xi Jinping, China’s president, to rescue a deal at the G20 summit in Japan next month.
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China Invites U.S. Negotiators to Continue Trade Talks, White House Economics Adviser Says - WSJ
WASHINGTON—China has invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing to continue trade negotiations, White House economic adviser Larry Kudlow said Sunday.
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Frustration, Miscalculation: Inside the U.S.-China Trade Impasse - WSJ
The U.S. and Chinese governments both sent signals ahead of their trade talks in Washington last week that a pact was so near they would discuss the logistics of a signing ceremony.
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week19 | 2019

week19 | 2019

CGCC News
CGCC Hosted 2019 Lunch & Learn Event: “Overview of the U.S. Advertising Market & Strategies to Navigate Through It”
On May 9th, China General Chamber of Commerce – USA (CGCC) hosted “Overview of the U.S. Advertising Market & Strategies...
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Weekly Headlines
FCC Denies China Mobile’s Bid to Provide International Telecom Services in the U.S. - WSJ
WASHINGTON—The U.S. blocked a Chinese telecom giant from providing services via American networks, the latest sign of escalating tension between the two global powers.
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US business frustrated as Trump reignites China trade fight | Financial Times
As the Trump administration ploughed ahead with plans to slap higher tariffs on Chinese goods instead of striking a deal to end the trade war with Beijing, the US Council for International Business, which represents the largest American multinationals in Washington, reacted with palpable frustration. 
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U.S. Slaps Higher Tariffs on Chinese Imports as Trade Talks Resume - WSJ
WASHINGTON—The U.S. increased tariffs on $200 billion of Chinese goods to 25% Friday as President Trump ratcheted up pressure on Beijing and threatened to impose additional levies on virtually everything China exports to the U.S.
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For Blackstone, Insurance Is Next Big Push on Route to $1 Trillion Asset Goal - WSJ
Blackstone Group BX 0.62% LP is planning to build its insurance business into a powerhouse as it casts about for new sources of cash in a bid to build a trillion-dollar stockpile of assets.
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Uber Set to Price IPO at Midpoint of Target Range or Below - WSJ
Uber Technologies Inc. is on track to price its initial public offering at the midpoint of its target or below, according to people familiar with the matter, following a big stock-market drop and the disappointing debut of rival Lyft Inc.
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Why China Decided to Play Hardball in Trade Talks - WSJ
The new hard line taken by China in trade talks—surprising the White House and threatening to derail negotiations—came after Beijing interpreted recent statements and actions by President Trump as a sign the U.S. was ready to make concessions, said people familiar with the thinking of the Chinese side.
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After Trump's tweets, three main outcomes to US-China talks | Financial Times
Donald Trump’s tweets on Sunday afternoon shattered the air of inevitability that surrounded the prospects of a deal to end the US trade war with China. By giving Beijing an ultimatum — either make new concessions or face higher tariffs by Friday — Mr Trump raised the stakes and signalled that he was prepared to see the talks collapse.
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Stocks Sink as Trade Tensions Mount - WSJ
The stock market’s declines deepened Tuesday, with the Dow Jones Industrial Average sliding more than 450 points, as investors braced for the increased likelihood the U.S. will raise tariffs on Chinese goods later this week.
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China Agrees to Resume U.S. Trade Negotiations - WSJ
BEIJING—China is sending its top trade envoy to Washington to resume negotiations and confront U.S. demands that Beijing detail the laws it would change as a part of a trade deal, ahead of a deadline set by President Trump to raise tariffs on Chinese goods.
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Google Prepares to Launch New Privacy Tools to Limit Cookies - WSJ
Google is set to launch new tools to limit the use of tracking cookies, a move that could strengthen the search giant’s advertising dominance and deal a blow to other digital-marketing companies, according to people familiar with the matter.
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Buckle Up For a Weaker Chinese Yuan - WSJ
The yuan’s tumble on Monday leaves the currency just a couple of days of bad news from the totemic seven-to-the-dollar exchange rate that China’s government is loath to let it breach. Sooner or later, Beijing will have to deal with a yuan on the wrong side of that level.
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China's Liu He will join US China trade talks after Trump tariff threat
Chinese Vice Premier Liu He is expected to join a delegation in the United States this week, a potentially positive sign for a trade agreement between the U.S. and China even as the Trump administration says it will hike tariffs on Chinese goods.
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Trump threatens to lift tariffs on China to 25 per cent | Financial Times
US president Donald Trump has threatened to raise tariffs on all Chinese imports to 25 per cent, sharply ratcheting up pressure on Beijing to make concessions in a make-or-break round of trade negotiations set for this week.
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Jobless Rate Falls to Lowest in Nearly 50 Years as Employers Ramp Up Hiring - WSJ
WASHINGTON—The U.S. labor market showed historic strength in April, with employers hiring at a faster pace and the unemployment rate falling to a half-century low.
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Chinese Negotiators Prepare to Go to Washington for Trade Talks - WSJ
BEIJING—A Chinese delegation is preparing to travel to the U.S. for trade talks, China’s Foreign Ministry said, despite President Trump’s surprise threat to ramp up tariffs on Chinese imports.
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week18 | 2019

week18 | 2019

CGCC News
CGCC and Standard Chartered Bank Co-hosted Market Update Seminar and New Members Welcome Reception in New York
China General Chamber of Commerce–USA (CGCC) and Standard Chartered Bank co-hosted the Market Update Seminar and Welcomi...
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CGCC Hosted 2019 Lunch & Learn Event: “Women in Business”
About 30 female leaders from CGCC member companies including China Merchant's Bank, CICC US Securities, Inc., Fosun Inte...
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Weekly Headlines
China says to further open up banking and insurance sectors - Reuters
BEIJING (Reuters) - China will further open up its banking and insurance sectors, the country’s top banking and insurance regulator said in comments published on Wednesday.
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特斯拉终于决定融资,拟最高筹集23亿美元 - 华尔街日报
特斯拉(Tesla Inc., TSLA)正寻求通过发行债券和股票融资最多23亿美元。这家电动汽车制造商上周公布第一财季大幅亏损,令外界对该公司不断减少的现金储备愈加担忧。
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美国考虑加大对伊制裁,锁定其他美元来源 - 华尔街日报
美国官员表示,特朗普政府考虑加大力度执行对伊朗的经济制裁,瞄准与伊朗做生意的更多公司和金融机构,以切断该国的美元计价硬通货来源。
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Facebook Tries a New Look as Zuckerberg Proclaims a New Era - WSJ
Facebook Inc. FB -0.19% rolled out a substantial redesign of its website and mobile app, as Chief Executive Mark Zuckerberg seeks to address criticism of the social-media giant’s influence by nudging users toward different types of engagement and more private communication tools.
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Fed Holds Rates Steady, Signals Concern Over Sluggish Spending, Low Inflation - WSJ
WASHINGTON—Federal Reserve officials agreed to keep their benchmark interest rate unchanged and signaled comfort that their wait-and-see posture had steadied the economy after fears of a slowdown had sent markets reeling at the end of last year.
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U.S.-China Trade Deal in Sight After Progress on Tariffs, Market Access - WSJ
Negotiators made headway on thorny issues in the U.S.-China trade dispute, including access to key markets and how to roll back punitive tariffs, as both sides prepare for talks they hope will clinch a deal.
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Apple’s iPhone Revenue Drops 17% - WSJ
Apple Inc. AAPL -1.93% posted its first back-to-back drop in quarterly sales and profit in more than two years, but the tech titan reported strength beyond its struggling iPhone business and said a sharp downturn in China showed signs of easing.
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Global asset managers jostle for China prize | Financial Times
China offers global asset managers the prospect of a lucrative stream of profits if they can outflank their rivals in the race to build mainland investment businesses with scale.
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Tariffs That Started the U.S.-China Trade Conflict Now Dog Its Finish - WSJ
BEIJING—As U.S. and Chinese officials try to close a trade deal, the punitive tariffs the governments slapped on each country’s goods in the conflict stand as a major obstacle, according to officials and others briefed on the talks.
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Alibaba Agrees to Pay $250 Million to Resolve Complaints Over Pre-IPO Counterfeit Claims - WSJ
Alibaba Group Holding Ltd. BABA -0.08% has agreed to pay $250 million to resolve investors’ lawsuits that accused the company of not disclosing before its $25 billion initial public offering that officials had met with the Chinese government regarding alleged counterfeit products sold on its platforms.
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China’s Manufacturing Activity Falters - WSJ
BEIJING—A gauge of China’s factory activity weakened sharply, suggesting that any turnaround in the world’s second-largest economy after months of slower growth has yet to take root.
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Mnuchin Suggests China Trade Talks Could Wrap Up by End of Next Week - WSJ
Treasury Secretary Steven Mnuchin suggested Monday that trade talks with China could be wrapped up by the end of next week, following two more rounds of negotiations.
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China's BYD reports 632% jump in profits as rival Tesla falters — Quartz
Electric car maker BYD is speeding ahead of Tesla with respect to profitability. The Chinese company today (April 28) reported a 632% jump in profits in the first quarter from a year ago. Days earlier, the US car company led by Elon Musk announced one of its worst quarters ever.
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Xi says more nations joining Belt and Road, $64bn in deals
Beijing (AFP) - Chinese President Xi Jinping said Saturday $64 billion in deals were signed at a summit on his Belt and Road Initiative and more nations would join the global infrastructure programme as he sought to ease concerns over the colossal project.
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U.S. Economy Grew at 3.2% Rate in First Quarter - WSJ
WASHINGTON—The U.S. economy started 2019 with a pop, growing rapidly despite multiple headwinds, including weaker domestic demand, suggesting the current expansion has more room to run in its 10th year.
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week17 | 2019

week17 | 2019

CGCC News
CGCC & BOC Bring Together Over 90 Top Human Resources Professionals at Forum
On April 24th, China General Chamber of Commerce – USA (CGCC) and CGCC member company Bank of China USA co-hosted the A...
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Weekly Headlines
CGCC & BOC Bring Together Over 90 Top Human Resources Professionals at Forum - China General Chamber of Commerce - U.S.A.
On April 24th,  China General Chamber of Commerce – USA (CGCC) and CGCC member company Bank of China USA co-hosted the Asian HR Forum at the Bank of China in New York. Led by top professionals from CGCC member company Littler Mendelson, Ameriprise Financial, Berry Appleman & Leiden LLP (BAL), and Mercer, the forum provided attendees with access to updates on local employment laws, advanced HR information and networking opportunities. Over 90 Human Resources (HR) professionals, local attorneys, and Asian industry leaders from leading Chinese and American companies came together for the event.
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Microsoft Hits $1 Trillion Market Value for First Time - WSJ
The $1 trillion club just got its third member: Microsoft Corp. MSFT 3.31%
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Dollar’s Strength Hits Emerging-Market Currencies - WSJ
Emerging-market currencies extended their declines, as a strengthening dollar sparked worries over the financial outlook for countries such as Argentina and Turkey.
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Microsoft’s Cloud Business Continues to Boom as Windows Sales Rebound - WSJ
Microsoft Corp. MSFT -0.34% rode its cloud-computing business to another strong quarter, while sales of its Windows operating system rebounded from recent weakness caused by a scarcity of computer chips that has hurt PC sales.
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Didi Dominates Ride-Hailing in China but Loses Money on Many of Its Trips - WSJ
Didi Chuxing Technology Co. beat out Uber Technologies Inc. in China, but nearly three years later the startup, whose investors include its former rival and SoftBank Group Corp. , still struggles with profitability in its core ride-hailing business.
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Facebook Sets Aside $3 Billion to Cover Expected FTC Fine - WSJ
Facebook FB -0.65% Inc. set aside $3 billion for an expected fine from the Federal Trade Commission over privacy violations, cutting into the social-media giant’s profit even as its underlying business remained strong.
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Theresa May approves Huawei for UK 5G in snub to US | Financial Times
Theresa May and her senior ministers have said the Chinese telecoms company Huawei can build some non-core parts of Britain’s 5G data network, despite a warning from the US that this would put co-operation over security at risk.
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AIG Offshoot Rides Chinese Insurance Boom - WSJ
Once the crown jewel of American International Group Inc., pan-Asian life insurer AIA has eclipsed its former parent thanks to soaring demand from China’s middle class.
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Mnuchin and Lighthizer to head to Beijing as trade talks resume | Financial Times
Top US trade officials will travel to Beijing next week for another round of negotiations with their Chinese counterparts, as the world’s two biggest economies inch closer to a new trade deal.
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Tesla’s Elon Musk Promises Robot Taxis by Next Year - WSJ
Tesla Inc. TSLA -3.85% Chief Executive Elon Musk made his case for an on-demand robot taxi fleet that he promised would begin next year, an ambitious bet that would thrust the auto maker into the cutthroat business of ride-hailing.
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Social Security Costs to Exceed Income in 2020, Trustees Say - WSJ
WASHINGTON—Social Security’s costs are expected to exceed its income in 2020 for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits.
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Luckin Coffee files for US IPO
China’s Luckin Coffee on Monday filed for an initial public offering with the U.S. Securities and Exchange Commission.
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U.S. to End Iran Oil Waivers to Drive Tehran’s Exports to Zero - WSJ
WASHINGTON—The State Department is expected to announce the end of waivers for countries to import Iranian oil on Monday, part of the Trump administration’s effort to drive Iran’s exports to zero, people familiar with the decision said.
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Huawei revenue rises 39% despite US pressure on 5G | Financial Times
First-quarter revenue at Huawei rose 39 per cent from the previous year to Rmb179.7bn ($26.8bn), an increase that suggests US efforts to persuade countries to ban the Chinese group’s telecoms equipment from their 5G networks have not tempered growth.
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Trade Deal Alone Won’t Fix Strained U.S.-China Business Relations - WSJ
WASHINGTON—The accord now being drawn up to resolve the trade fight between the world’s two largest economies promises better treatment of U.S. companies in China and more Chinese orders for U.S. crops and other products.
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week16 | 2019

week16 | 2019

Weekly Headlines
High returns will be hard to come by in these frustrating times | Financial Times
The world is in an awkward place. High debt levels, little inflation, slowing economic growth, not to mention restive politics — it is a poor combination. While markets ended the first quarter in a better place than the end of 2018, primarily due to policies in China and the US, the next few months will be frustrating.
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FCC chair opposes China Mobile’s effort to enter US market | Financial Times
Ajit Pai, chairman of the US Federal Communications Commission, said on Wednesday he opposes China Mobile’s effort to offer telecommunications services in the US amid concerns over national security.
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China’s Job Market Blues - WSJ
American politicians have complained for years about China and other low-cost producers stealing U.S. jobs. Now the shoe is on the other foot, complicating the task of investors looking to play a Chinese growth rebound.
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Shrinking U.S. Trade Gap, China Growth Bode Well for Global Economy - WSJ
WASHINGTON—A narrower U.S. trade deficit in February and stronger-than-expected economic growth in China suggested the global economy’s outlook may be brightening headed into the spring.
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China’s Policy Priorities Deliver ‘Front-Loaded’ Growth - WSJ
SHANGHAI—At the start of a politically sensitive year in China, policy makers are promoting economic expansion and putting aside restructuring needed to keep debt from hobbling the economy.
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U.S., China Set Tentative Timeline for Next Round of Trade Talks - WSJ
WASHINGTON—The U.S. and China are planning two rounds of face-to-face meetings as they seek to wrap up a trade deal, with negotiators aiming for a signing ceremony in late May or early June, according to people familiar with the situation.
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China eyes U.S. poultry, pork imports in trade talks: sources - Reuters
NEW YORK/CHICAGO (Reuters) - China would likely lift a ban on U.S. poultry as part of a trade deal and may buy more pork to meet a growing supply deficit, but it is not willing to allow a prohibited growth drug used in roughly half the U.S. hog herd, two sources with knowledge of the negotiations said.
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China house price surge points to recovery | Financial Times
House prices in 70 Chinese cities increased an average of 10.6 per cent year on year in March, the quickest gain since April 2017 and the latest indication that the world’s second-largest economy is rebounding after a difficult start to the year.
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China Growth Beats Expectations Thanks to Humming Factories - WSJ
SHANGHAI—China’s economic growth held to a 6.4% rate in the first three months of the year as factory production picked up significantly amid signs authorities worked forcefully to stabilize business following months of weakness.
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Cisco Exec Taps Startup Skills in Battle Against Slack, Microsoft Teams - WSJ
Cisco Systems Inc. is turning to smart software in a bid to ward off a number of fast-growing rivals challenging its lead in the enterprise-collaboration market, which helps employees within an organization communicate with chat, videoconferencing and other tools.
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Apple and Qualcomm’s Billion-Dollar Staredown - WSJ
A meeting between Tim Cook and Steve Mollenkopf a year ago at Apple Inc.’s AAPL 0.18% headquarters started with a tense moment.
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China Investigates Ericsson Over Licensing as 5G Competition Heats Up - WSJ
Authorities in China are investigating Swedish telecom-equipment giant Ericsson ERIC -2.03% AB while the firm’s Chinese rival, Huawei Technologies Co., moves to counter a U.S. campaign to limit its business, the latest signs of global jockeying to shape next-generation 5G information networks.
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Global Stock Rally Defies Dimming Economic Outlook - WSJ
Global stocks are rising at the fastest pace in decades as growth around the world slows, leaving many investors questioning how much longer the market can defy the gravity of the underlying economics.
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China Trade Numbers Raise Red Flags on Embryonic Economic Recovery - WSJ
BEIJING—China’s trade performance last month raised questions about demand in the global and Chinese economies, as exports rebounded and imports fell at rates steeper than expected.
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Mnuchin Says Trade Talks Near Final Round - WSJ
Treasury Secretary Steven Mnuchin said Saturday the U.S. and China are continuing to make progress on trade talks and “getting close to the final round of concluding issues.”
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week15 | 2019

week15 | 2019

CGCC News
Addressing the Department of Justice’s “China Initiative” and Related Increases In the Enforcement of U.S. Law Targeting China Companies
On April 4th, 2019, China General Chamber of Commerce – USA (CGCC) partnered with Blank Rome LLP to hold “CGCC Legal and...
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Weekly Headlines
US-China trade dispute still hot air for some investors | Financial Times
Once the US and China successfully wrap up their trade talks, global markets are in for a further rally. Or so the theory goes. After all, you can already see it in the world-beating 30 per cent rally in the Shanghai Composite stock index so far this year, and in the way global stocks bob higher and lower on smoke signals from the talks.
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Trump raises possibility of future meetings with North Korea’s Ki | Financial Times
US President Donald Trump is holding open the possibility of further meetings with North Korean leader Kim Jong Un following their failure to agree a denuclearisation deal at their Hanoi summit in February.
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U.S., China Reach Accord on Trade-Deal Enforcement, Mnuchin Says - WSJ
WASHINGTON—The U.S. and China have agreed on an enforcement mechanism for their potential trade deal, Treasury Secretary Steven Mnuchin said, suggesting one of the key stumbling blocks toward an accord had been cleared.
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Uber to Have Task of Explaining Its Diverse Businesses as It Closes In on IPO - WSJ
Uber Technologies Inc. is moving closer to an IPO, but due to its global reach and diverse operations, it faced a greater regulatory burden that put it on a more circuitous route to public markets than smaller rival Lyft Inc.
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Boeing and Its 737 MAX Jets Have a China Problem - WSJ
SHANGHAI—One of China’s big state-owned airlines joined the list of carriers seeking compensation from Boeing Co. BA -1.11% over the grounding of its 737 MAX fleet, a small move that highlights a bigger challenge for the airplane maker: ensuring China, one of its biggest customers, keeps faith with its troubled jet.
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China Sweetens Its Cloud Offer in U.S. Trade Talks - WSJ
BEIJING—China sweetened an offer to open its cloud-computing sector to foreign companies, in a bid to forge a trade deal after U.S. negotiators rejected an earlier proposal as inadequate, said people briefed about the negotiations.
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China’s Banks Are Choking on Coal Dust - WSJ
Is Chinese coal consumption in terminal decline or ramping up again? The fortunes of the global coal mining industry, and of attempts to limit global carbon emissions, could depend on the answer.
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US threat of $11bn EU tariffs increases tension | Financial Times
The Trump administration’s proposal to impose new tariffs on $11bn of EU products has threatened to escalate transatlantic tension, raising fears that Washington would target Europe after reaching a possible trade deal with China. 
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Beijing and EU agree target of next year for investment access deal | Financial Times
China has agreed to try to reach a deal next year with the EU on opening its markets to foreign investors in what Donald Tusk, the president of the European Council, hailed as “a breakthrough” in relations with Beijing.
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Global Investors Line Up for a Shot of Kerosene-Smelling Chinese Liquor - WSJ
A Chinese liquor stock has captured the imagination of global investors as a proxy for affluent consumers in the world’s second-largest economy.
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Pinterest Is Expected to Set IPO Price Range Below Last Valuation - WSJ
Pinterest Inc. plans to set a price range for its initial public offering that is below where the online image-search company last raised money privately when it begins a roadshow to pitch the shares to investors Monday.
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U.S. Moves to Impose Tariffs on $11 Billion of EU Goods - WSJ
The Trump administration moved Monday toward imposing tariffs on about $11 billion in imports from the European Union, saying the move was justified by the bloc’s subsidies for European aircraft manufacturer Airbus.
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Global economy enters ‘synchronised slowdown’ | Financial Times
The global economy has entered a “synchronised slowdown” which may be difficult to reverse in 2019, according to the latest update of a tracking index compiled by the Brookings Institution think-tank and the Financial Times.
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Trump Says Southern-Border Asylum Seekers Are Running a ‘Scam’ - WSJ
CALEXICO, Calif.—President Trump made his case for more barriers as he visited the border with Mexico on Friday, while continuing to say the U.S. immigration system is being overwhelmed by Central Americans seeking asylum.
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U.S., China Tout Progress, Vow to Continue Trade Talks - WSJ
Trade talks between Chinese and U.S. negotiators wrapped up in Washington with no clear timeline for resolution, but with both sides touting progress and vowing to continue talking via videoconference.
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week14 | 2019

week14 | 2019

Weekly Headlines
The Chinese economy is stabilising | Financial Times
Is the Chinese economy recovering from its slowdown at the end of last year? “Yes”, say Gavyn Davies, Goldman Sachs and many others. During my recent visit to Shanghai and Beijing, a number of economists and private businessmen also indicated growing optimism about China’s economic prospects. Why do they think this and are they likely to be right?
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Ford Brings Out the Jumper Cables in China…Again - WSJ
SHANGHAI— Ford Motor Co. F 1.20% relaunched its China business, promising a bevy of new products, less than a year and a half after its last reboot failed to arrest a sharp decline in the company’s Chinese sales.
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Trump Says U.S.-China Trade Deal Close, but No Summit Plans Yet - WSJ
WASHINGTON—The U.S. and China are aiming to reach a trade deal in the next four weeks, President Trump said, though he failed to announce a much-anticipated summit with Chinese leader Xi Jinping.
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Investors Brace for Hit to Profits as Costs Rise - WSJ
Investors are concerned that rising wages and energy costs will eat into corporate profits, threatening the decadelong bull market in stocks.
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Trump Likely to Announce Plans for Summit With China’s Xi on Thursday - WSJ
WASHINGTON—President Trump may announce plans for a summit with China’s President Xi Jinping on Thursday when he meets with the country’s vice premier, signaling that contentious trade talks between the two countries may be nearing conclusion.
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Tariffs Take Center Stage in U.S.-China Trade Talks - WSJ
WASHINGTON—The Trump administration’s demand that punitive tariffs remain to ensure Beijing enacts genuine overhauls has emerged as one of the biggest sticking points, as U.S. and Chinese trade negotiators opened new face-to-face talks aimed at a deal.
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China triples investment in emerging Asia on trade war | Financial Times
Chinese companies tripled their greenfield investments in developing countries in Asia last year in the latest sign of how the commercial landscape of the region is being reshaped by the bitter trade war between Beijing and Washington.
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Big Banks Reach for Small Deals as Merger Boom Slows - WSJ
JPMorgan Chase JPM 0.48% & Co.’s health-care bankers in the past year worked on the $74 billion takeover of Celgene Corp. CELG -0.28% and the $62 billion sale of Shire PLC.
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US and China draw closer to final trade agreement | Financial Times
Top US and Chinese officials have resolved most of the issues standing in the way of a deal to end their long-running trade dispute but are still haggling over how to implement and enforce the agreement, people briefed on the talks have said. 
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Bitcoin Soars Above $5,000, Heads for Biggest Daily Gain in a Year - WSJ