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CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week3 | 2020

week3 | 2020

CGCC News
CGCC Hosted Leaders Luncheon Event with Anthony Scaramucci
On Thursday, January 9th, 2020, China General Chamber of Commerce - USA (CGCC) hosted an intimate lunch and discussion w...
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Alphabet Becomes Fourth U.S. Company to Reach $1 Trillion Market Value - WSJ
Google parent Alphabet GOOG 0.87% Inc. became the fourth U.S. company ever to achieve a $1 trillion market value Thursday, punctuating a powerful rally in shares of large internet stocks to start 2020.
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China’s Economic Growth Slows to Near 30-Year Low - WSJ
A newly sealed trade truce with the U.S. reduced a key source of anxiety for Chinese policymakers but leaves them with another challenge: a need to boost consumer and business confidence as the country faces more downward pressure on its massive economy.
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U.S.-China Deal Could Upend the Way Nations Settle Disputes - WSJ
The phase-one deal between the U.S. and China could upend the way trade disputes are settled globally, giving the U.S. an edge over competitors and weakening international institutions.
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Putin Moves to Shore Up Power, as Prime Minister Resigns - WSJ
MOSCOW—President Vladimir Putin of Russia proposed constitutional changes that could enable him to wield political power after his presidency ends, as his longtime ally, Prime Minister Dmitry Medvedev, unexpectedly resigned.
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U.S., China Sign Deal Easing Trade Tensions - WSJ
WASHINGTON—The U.S. and China signed a trade deal that officials say will lead to a sharp increase in sales of U.S. goods and services to China, further open Chinese markets to foreign firms—especially in financial services—and provide strong new protections for trade secrets and intellectual property.
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Tech Tensions Simmer in Washington as U.S., China Near Trade Truce - WSJ
The U.S. and China are about to declare a pause in their trade war by signing an initial pact this week, but a continuing battle over technology is bound to keep relations between the two superpowers on edge.
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U.S. to maintain tariffs on Chinese goods until Phase 2 deal: Mnuchin - Reuters
The United States will maintain tariffs on Chinese goods until the completion of a second phase of a U.S.-China trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Tuesday, a day before the two sides are to sign an interim deal.
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In a Year of Trade War, U.S. Deficit With China Shrank - WSJ
President Trump’s trade war with Beijing reduced the U.S.’s trade deficit with China last year, although Chinese manufacturers still export far more to the U.S. than vice versa.
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Australia’s Fires Test Its Winning Growth Formula - The New York Times
The country’s vulnerable environment and growing dependence on China have raised questions about the sustainability of its economic success.
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China’s Yuan Rallies After U.S. Drops Currency-Manipulator Label - WSJ
China’s currency strengthened to its strongest level since July in offshore trading, after the U.S. removed the country from a list of trading partners it considers currency manipulators, days before the likely signing of a trade deal.
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How the U.S. and China Settled on a Trade Deal Neither Wanted - WSJ
U.S. talks with China to complete a first-stage trade deal had hit an impasse around Thanksgiving, —and with it, hope for a halt to the nearly.
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Trade War With China Took Toll on U.S., but Not Big One - WSJ
WASHINGTON—Farmers took a big hit. Importers of auto parts, furniture and machinery choked down punishing tariffs. Investment between the world’s two largest economies dropped.
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As Jobs Cap 10 Years of Gains, Women Are Workforce Majority - WSJ
WASHINGTON—Women overtook men to hold the majority of U.S. jobs for the first time in a decade, while employers added positions for a record 10th straight year, pointing to a growing and dynamic economy heading into 2020.
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Washington, Beijing Agree to New Dialogue to Pursue Reforms, Address Disputes - WSJ
WASHINGTON—The U.S. and China have agreed to semiannual talks to push for economic reform and resolve disputes, borrowing from a format from previous administrations that Trump trade officials had once derided.
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week2 | 2020

week2 | 2020

CGCC News
China General Chamber of Commerce – USA Hosts 2020 Lunar New Year Gala & 15th Anniversary Celebration
NEW YORK, NY- On Wednesday, January 8th, 2020, China General Chamber of Commerce – USA (CGCC) and CGCC Foundation, the ...
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China's Ctrip in talks with banks to follow Alibaba with HK listing - Reuters
U.S.-listed online travel giant Ctrip is talking to banks about a planned secondary listing in Hong Kong, putting the group at the head of a queue of Chinese companies expected to follow Alibaba in establishing an investor base closer to China.
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Hopes for spike in U.S. farm exports to China dim ahead of trade deal signing - Reuters
Days before a U.S.-China trade deal is due to be signed, large Chinese purchases of Brazilian soybeans and a pair of unexpected policy moves by Beijing have dimmed U.S. hopes that China would double its imports of American farm products this year.
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Swine Fever Breaks in China - WSJ
China is finally getting a handle on African swine fever, the crisis that cut the nation’s hog population by at least a quarter and stoked inflation. Beijing still has hard questions to answer about food safety, not least as it grapples with an outbreak of a new virus in Wuhan. But bringing swine fever under control will be great for Chinese consumers, and for the businesses that serve them.
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China to Send Chief Trade Negotiator to U.S. to Sign Phase-One Deal - WSJ
BEIJING—Chinese President Xi Jinping’s chief trade negotiator will travel to Washington early next week to sign a phase-one trade deal with the U.S., China’s Commerce Ministry said Thursday, the first official confirmation by Beijing on the signing of an agreement that could help ease bilateral tensions.
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U.S. Pork Producers Didn’t Bring Home the Bacon in 2019 - WSJ
Farmers are hoping that 2020 will be the year that China finds its appetite for U.S. pork after a disappointing 2019 for exports.
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Grubhub Considers Strategic Options Including Possible Sale - WSJ
Grubhub GRUB 12.58% Inc. is considering strategic options including a possible sale amid increased competition and a recent decline in its shares, according to people familiar with the matter.
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White House Proposes Principles for AI Regulation - WSJ
The White House on Tuesday proposed a set of principles to guide how federal agencies regulate the development of artificial intelligence in the private sector, characterizing it as an effort to govern AI without stifling innovation.
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U.S. Trade Gap Lowest in Three Years as Imports From China Slide - WSJ
WASHINGTON—U.S. tariffs against China triggered a slide in imports in November, contributing to the lowest trade deficit in three years.
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China's Dec forex reserves rise more than expected as yuan rebounds | Nasdaq
China's foreign exchange reserves rose more than expected in December as the yuan rebounded after Washington and Beijing reached a partial trade deal.
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After Alibaba’s Magic Float, Hong Kong Angles for More Tech Listings - WSJ
Successful listings of shares in Hong Kong by Alibaba Group Holding Ltd. BABA -0.17% and smaller rival Meituan Dianping 3690 0.82% have burnished the market’s high-tech credentials. Now, bankers and investors expect more Chinese technology companies to list in the city.
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Microsoft Ramps Up Battle Against Amazon in Cloud War - WSJ
Microsoft Corp. MSFT 0.26% is introducing new tools for its campaign to outflank cloud-computing rival Amazon.com Inc. by targeting big businesses that have balked at shifting their data to the cloud.
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Gold nears 7-year high as Iran tensions spark fresh market jitters - - Financial Times
The price of gold rose to its highest level in nearly seven years and global equities slid as tension in the Middle East fuelled demand for safe places to warehouse cash.
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Trade war: China to travel to US on January 13 to sign phase one deal - SCMP
China’s trade delegation tentatively plans to travel to Washington for four days from January 13 for the signing of the phase one deal that would herald a truce in the costly trade war between the world’s two largest economies.
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Fed Has Many Tools to Deter Recession, Former Chairman Bernanke Says - WSJ
The Federal Reserve has ample tools for fighting a potential recession even though its benchmark interest rate remains historically low, former Fed Chairman Ben Bernanke said.
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Trade War Dents China’s Attendance at World’s Biggest Electronics Show - WSJ
The expanding U.S.-China rivalry in the world of technology is set to be put on full display this week, with a smaller Chinese presence expected in Las Vegas for CES, the world’s biggest consumer-electronics exhibition.
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week1 | 2020

week1 | 2020

5G Underwhelms in Its First Big Test - WSJ
In South Korea, where the next-generation wireless network has been rolled out widely, download speeds have risen but many users aren’t impressed
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Check Your Optimism—China’s Slowdown Isn’t Over - WSJ
The doom and gloom of mid-2019 has been replaced with outright investor optimism. A big reason: better news from both of the world’s two largest economies. Before investors go shopping for shares, however, they should take a closer look at China.
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History Suggests Stocks Likely to Keep Rising After a Banner Year - WSJ
Stocks had a stellar run in 2019. History suggests the gains could very well continue.
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Trump Says He Will Sign Phase-One Trade Deal With China on Jan. 15 - WSJ
WASHINGTON—President Trump said he would sign the recently negotiated phase-one trade deal with China in Washington on Jan. 15—marking a formal truce in the U.S-China trade war—and would later travel to Beijing to negotiate a broader pact.
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Tesla Turns to China With U.S. Tax Credit Ending - WSJ
Tesla Inc. TSLA 0.88% marks the beginning of a new era this week: the loss of a U.S. tax credit that effectively lowered the price of its vehicles and helped build interest in fledgling electric cars.
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China’s Monetary Policy Eases Into the New Year - WSJ
BEIJING—Chinese officials kicked off the new year—one that is expected to present new challenges for the world’s second-largest economy—by signaling a tilt toward easier money.
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