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CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week46 | 2019

week46 | 2019

China’s $1tn scramble for convertible bonds reflects hot market | Financial Times
New debt and equity offerings often draw a crowd. But when investors last month placed more than $1tn worth of orders for a convertible bond issued by Shanghai Pudong Development Bank, about 140 times the $7bn raised, it was enough to shock even the most seasoned China investor.
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Fed’s Powell Signals Comfort With Current Interest-Rate Stance - WSJ
WASHINGTON—Federal Reserve Chairman Jerome Powell told lawmakers the central bank saw little need to cut interest rates further after making three reductions since July.
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U.S.-China Trade Talks Hit Snag Over Farm Purchases - WSJ
Trade talks between the U.S. and China have hit a snag over farm purchases, as officials seek to lock down the limited trade deal President Trump outlined last month.
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Trump gripes that foreigners have negative rates: 'Give me some of that money - CNBC
Instead of highlighting warmer relations with Beijing, Trump criticized the Fed for what he sees as its hesitation to lower interest rates and blamed the central bank for capping gains in the U.S. economy and stock market.
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Alibaba Files for Secondary Listing in Hong Kong - WSJ
Alibaba Group Holding Ltd. ’s leaders used the code “Project Orange” to discuss the company’s blockbuster initial public offering in 2014. Now they are close to seeing the fruition of “Project Tangerine,” the internal name for their effort to raise up to $15 billion in a secondary listing in Hong Kong.
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Tariffs on China Imports Emerge as Hurdle to Trade Deal - WSJ
WASHINGTON—Tariffs are emerging as the main stumbling block in efforts by the U.S. and China to come to a limited trade deal, a month after the two countries called a truce in their trade war.
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Engage China, or Confront It? What’s the Right Approach Now? - The New York Times
Stephen K. Bannon, the former White House adviser, calls the United States’ relationship with China’s Communist Party an economic and information “war,” while Eric Schmidt, a Google founder, says American interests are entangled with China, our biggest competitor in the race for global technological dominance.
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Another Hurdle in U.S.-China Trade Talks: Where to Seal the Deal - WSJ
WASHINGTON—The U.S. and China are grappling with a dual challenge on trade:  wrapping up an interim deal, and solving the logistical puzzle of getting President Trump and Chinese President Xi Jinping in the same place to sign it.
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West Coast Imports Plunge as Tariffs Hit Consumer Goods - WSJ
Seaborne imports into the largest U.S. gateway for trans-Pacific goods plummeted last month in the latest sign of volatility in supply chains from the U.S.-China trade war.
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week45 | 2019

week45 | 2019

CGCC News
Fosun International and Citi Sign Strategic Cooperation Agreement
SHANGHAI, Nov. 4, 2019 /PRNewswire/ -- Fosun International Limited ("Fosun International") (HK) announced today that it ...
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China's Alibaba invests $3.3 billion to raise stake in logistics unit Cainiao - Reuters
China’s e-commerce giant, Alibaba Group Holding (BABA.N), said on Friday it would invest an additional 23.3 billion yuan ($3.33 billion) to raise its equity stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51%.
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China’s Export Decline Eased in October - WSJ
China’s exports recovered a little in October, in an early sign that global demand may be picking up as trade tensions with the U.S. ease.
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China and US agree to lift some tariffs in sign of trade war thaw - Financial Times
China and the US have agreed to remove some tariffs, according to Beijing, in a sign that the world’s two biggest economic powers may be moving closer to reaching a trade war truce.
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China and the US should prepare for an era of ‘co-opetition’ | Financial Times
The rapid downward slide of China-US relations has exceeded everyone’s expectations. Even I, who was quite pessimistic, did not foresee this nose dive. If one talks about China in Washington now, the atmosphere can best be described as paranoid.
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US productivity unexpectedly falls by most since 2015 | Financial Times
American workers’ productivity unexpectedly fell by the most in nearly four years in the penultimate quarter of 2019, data on Wednesday showed.
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Huawei Founder Says Chinese Giant Doesn’t Need the U.S. - WSJ
SHENZHEN—Huawei Technologies Co. can survive without the U.S., Chief Executive Ren Zhengfei said, dismissing Washington’s campaign against it as ineffective.
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Trump-Xi meeting in Iowa would be poignant reminder of better U.S.-China ties - Reuters
U.S. President Donald Trump’s suggestion that he could sign a trade deal with Chinese President Xi Jinping in Iowa has set off a flurry of excitement in Muscatine, Iowa, a city on the banks of the Mississippi River that has hosted Xi twice since 1985.
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Explainer: World's biggest trade pact shapes up without India - Reuters
Although India pulled out at the last minute, China and 14 other countries agreed in Bangkok this week on plans for what could become the world’s biggest trade agreement - the Regional Comprehensive Economic Partnership (RCEP).
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At China Trade Expo, Xi Touts an Appetite for Imports - WSJ
Chinese President Xi Jinping on Tuesday inaugurated a trade fair by saying his government will strive for robust domestic growth to benefit global business activity, messages that come as China’s economy slows and trade tension with the U.S. persists.
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U.S. Starts Process to Exit Paris Climate Agreement - WSJ
WASHINGTON—The U.S. has officially started the process of exiting the Paris climate agreement, citing an unfair economic burden posed on American workers and businesses, the State Department said Monday.
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China trims a key bank lending rate for first time in over 3 years | Financial Times
Policymakers in China trimmed a benchmark lending rate for the first time in more than three years amid a slowdown in the world’s second-biggest economy, prompting stocks to nudge higher and bond yields to fall as investors lined up bets that further easing may be ahead.
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US considers dropping some tariffs on China | Financial Times
Trump administration officials are debating whether to remove some tariffs on Chinese goods as a concession to seal a partial deal that would pause the trade war as early as this month. 
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Less Savings, More Debt: How Chinese Manage Money American-Style, in 17 Charts - WSJ
China has long been a nation of savers. For decades, its citizens socked away much more of their incomes than Americans do. The pool of capital that was created powered China’s economic rise.
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China says Xi, Trump in continuous touch - Reuters
BEIJING (Reuters) - Chinese President Xi Jinping and U.S. President Donald Trump have been in continuous touch through “various means”, China’s Foreign Ministry said on Monday, when asked when and where the two leaders might meet to ink a trade deal.
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Wilbur Ross ‘optimistic’ on US-China trade talks
Commerce secretary says sticking points in first phase of negotiations could be resolved soon.
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week44 | 2019

week44 | 2019

CGCC News
CGCC Hosted Lunch and Learn Event: “How Your Company’s Employee Benefits Can Help to Attract & Retain Talent”
On Wednesday, October 30th, 2019, China General Chamber of Commerce – USA (CGCC) hosted a Lunch & Learn event in New Yor...
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US agency grounds Chinese drones on security fears - Financial Times
The US Department of the Interior has grounded hundreds of Chinese-made drones while it investigates the security of its entire drone programme, one of the biggest in the US government.
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Trump Says U.S. and China Looking for New Site to Sign Trade Deal - WSJ
President Trump said China and the U.S. are in the process of selecting a new site to sign what he has called phase one of a broader trade agreement between the two countries.
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Senator Asks Whether Biden Probe Was Linked to China Trade Talks - WSJ
A Democratic senator asked the Trump administration to clarify whether U.S. officials sought to inject an investigation of former Vice President Joe Biden into trade negotiations with Beijing.
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China Is About to Switch On 5G. It’s Behind the U.S., but Not for Long. - WSJ
BEIJING—China plans to turn on its first 5G networks on Friday, setting up the country to leapfrog other nations in deploying the superfast cellular technology at the center of a technological arms race between China and the U.S.
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Chile Cancels APEC Summit, Where U.S. Hoped to Sign Deal With China - WSJ
The cancellation of an Asia-Pacific summit is complicating efforts by the U.S. and China to complete and sign a limited trade agreement designed to keep new tariffs at bay.
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Fed Cuts Rate for Third Time This Year, Signals Pause - WSJ
WASHINGTON—The Federal Reserve cut interest rates for the third time this year but signaled it wouldn’t reduce them further unless the economy slowed sharply.
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China to ease foreign investments curbs, won't force tech transfers - Reuters
China will eliminate all restrictions on foreign investments not included in its self-styled “negative lists,” a vice commerce minister said on Tuesday, and also will “neither explicitly nor implicitly” force foreign investors and companies to transfer technologies.
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China lifted antidumping tariffs on PVC from Sept. 29 - CNBC
China’s Commerce Ministry said on Wednesday it stopped levying antidumping tariffs on imports of polyvinyl chloride (PVC) from the United States, South Korea, Japan and Taiwan from Sept. 29.
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Powell Faces Tightrope Act Framing Potential Pause on Fed Rate Cuts - WSJ
Federal Reserve Chairman Jerome Powell will walk a tightrope this week over whether and how to signal a potential timeout in rate cuts following an expected reduction on Wednesday.
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China’s Unicorn Population Flourishes, but for How Long? - WSJ
There hasn’t been much good news for unicorns in the U.S. recently. Things aren’t much better for these magical creatures in China either.
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China Investors Keep Making Deals in Silicon Valley Amid Washington Pushback - WSJ
Chinese investors are pressing ahead with investments into startups and venture-capital funds, emboldened in part by ambiguities in U.S. efforts to limit foreign access to technology deals.
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FCC Targets China’s Huawei and ZTE - WSJ
WASHINGTON—The Federal Communications Commission is moving to place another restraint on the U.S. business of Huawei Technologies Co. and ZTE Corp. ZTCOY 1.06% by banning U.S. companies receiving federal subsidies from purchasing the Chinese firms’ equipment.
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China central bank official says commercial banks should step up blockchain application - Reuters
Commercial banks should step up their application of blockchain technology to embrace digital finance, a Chinese central bank official said on Monday.
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U.S., China say they are 'close to finalizing' part of a Phase One trade deal - Reuters
U.S. and Chinese officials are “close to finalizing” some parts of a trade agreement after high-level telephone discussions on Friday, the U.S. Trade Representative’s office and China’s Commerce Ministry said, with talks to continue.
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Beijing Woos U.S. and Other Foreign Companies as Trade War Takes Toll - WSJ
China has stepped up its charm offensive to attract U.S. and other foreign companies in recent weeks, seeking to offset the debilitating impact of the trade war while still exchanging blistering comments with Washington.
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week43 | 2019

week43 | 2019

CGCC News
CGCC Foundation sponsored Peking Opera Performance “Yuzhoufeng the Sword”
On Sunday, October 27th, 2019, CGCC Foundation sponsored New York Chinese Opera Society’s (NYCOS) performance of “Peking...
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CGCC Hosted Lunch & Learn Event: “Macro Outlook & U.S.-China Relations”
On Friday, October 25th, 2019, China General Chamber of Commerce - USA (CGCC) hosted a Lunch & Learn event in New York t...
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US senators call for TikTok investigation
Two leading US senators have asked intelligence officials to open an investigation into TikTok, the popular video-sharing platform owned by the Chinese technology company ByteDance.
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China’s Efforts to Lead the Way in AI Start in Its Classrooms - WSJ
A fast-spreading use of artificial intelligence in schools from kindergartens to universities provides the country with an unrivaled database.
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China's Xi urges acceleration of development of blockchain technology - Reuters
BEIJING (Reuters) - China’s President Xi Jinping said the country should accelerate the development of blockchain technology as the core for innovation.
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China implementing new rules to make business easier: state planner - Reuters
China will implement new regulations that aim to make it easier to do business from Jan. 1, 2020, China’s state planner said on Wednesday, amid increasing pressure on the world’s second largest economy.
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U.S.-China trade reprieve makes no dent on recession chances: Reuters poll - Reuters
The recent truce in the U.S.-China trade war is not an economic turning point and has done nothing to reduce a significant risk that the United States could slip into recession in the next two years, a Reuters poll of economists found.
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China Has ‘Concerning’ Leads Over U.S. in Tech, Defense Department Official Says - WSJ
The U.S. is trailing China in numerous critical technologies, making the role of the private tech sector more important than ever to American national and economic security, a Defense Department official said Wednesday.
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Families Go Deep in Debt to Stay in the Middle Class - WSJ
The American middle class is falling deeper into debt to maintain a middle-class lifestyle.
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U.S. Ambassador to China Defends Restrictions on Beijing’s Diplomats as Overdue - WSJ
BEIJING—U.S. Ambassador to China Terry Branstad rejected Beijing’s criticism of increased regulations on Chinese diplomats in the U.S., calling Washington’s move a long overdue step toward reciprocity.
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China’s conveyor belt of ‘unicorns’ is slowing down | Financial Times
China’s ability to produce valuable new start-ups, or “unicorns”, has plummeted compared with last year, according to research, as a deepening economic slowdown hits the country’s tech heartland and venture capital fundraising dries up.
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Policymakers’ fears of a global recession grow | Financial Times
Publicly, finance ministers and central bank governors have held off on raising fears that a global recession is coming — but in private, international and national officials are not nearly so certain.
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Wind power industry warns of global trade war threat | Financial Times
Leaders of the wind power industry have warned that the global trade war could endanger progress on renewable energy, as slowing growth in clean energy projects risks the goals of the Paris climate accord.
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U.S. Companies Preparing for Long-Term ‘Confrontational Relationship’ With China - WSJ
BOSTON—U.S. companies are preparing for tensions with China to extend far beyond the status of the continuing trade discussions, an executive for the U.S.-China Business Council said Monday.
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India Sees Opportunity in Trade Fight: Luring Big Companies From China - WSJ
India is making a push to get Apple Inc. and other big brands to switch production there as the risks of manufacturing in China rise along with trade tensions.
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Cooling Economy Drives Chinese Officials to Prioritize Growth - WSJ
SHANGHAI—China’s slipping economic momentum is sparking a shift in government priorities—away from curbing mounting debt levels and toward a renewed focus on raw growth.
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China seeks $2.4 billion in sanctions against U.S. in Obama-era case: WTO - Reuters
GENEVA (Reuters) - China is seeking $2.4 billion in retaliatory sanctions against the United States for non-compliance with a WTO ruling in a tariffs case dating to the Obama era, a document published on Monday showed.
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week42 | 2019

week42 | 2019

CGCC News
CGCC and Hongkun USA Co-hosted The First Hongkun Cup Badminton Invitational
On October 12th, China General Chamber of Commerce-USA (CGCC), CGCC Foundation, and HongkunUSA Real Estate Development L...
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CGCC Hosted a Roundtable Meeting with CCPIT in New York
On October 15th, 2019, China General Chamber of Commerce – USA (CGCC) held a roundtable discussion with a delegation fro...
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CGCC Hosted “Chinese Investment in the U.S.: The Path Forward” in Los Angeles
On October 10th, China General Chamber of Commerce-USA (CGCC), CGCC Foundation and CGCC-Los Angeles hosted the “Chines...
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IMF sees some easing of U.S.-China tensions, urges reforms of global trade system - Reuters
The International Monetary Fund on Thursday welcomed signs of a de-escalation in U.S.-China trade tensions but said an urgent updating of trade rules was needed to restore strong growth to the global economy.
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White House adviser says China agricultural purchases will depend partly on markets - Reuters
White House economic adviser Larry Kudlow said on Thursday that China’s “serious commitment” to buy $40 billion to $50 billion worth of U.S. agricultural goods as part of a phase 1 trade deal would depend in part on private companies and market conditions.
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China Economic Growth Slows Even More in the Third Quarter - WSJ
China’s economy grew 6% in the third quarter, landing right on the central government’s full-year baseline target for gross domestic product, as business activity continues to deteriorate in the world’s No. 2 economy.
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Huawei Extends Hot Streak in the Face of U.S. Blacklisting - WSJ
HONG KONG—Huawei Technologies Co., the world’s largest maker of telecommunications equipment, reported accelerated revenue growth in the third quarter despite its U.S. export blacklisting.
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U.S. Requires Chinese Diplomats to Inform State Department of Official Meetings - WSJ
The Trump administration is imposing new requirements on Chinese diplomats in the U.S.—though short of the restrictions Americans face in China—in what U.S. officials say is a bid to level the playing field between the two nations’ diplomatic corps.
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Uncertainty Clouds China’s Commitment to U.S. Farm Purchases - WSJ
China has promised to buy more U.S. farm products, but questions remain over how much, the time frame for purchases, and what the U.S. might have to give in return.
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Removing U.S.-Chinese tariffs would boost global economy 0.8%: IMF - Reuters
WASHINGTON (Reuters) - Removal of all U.S. and Chinese tariffs imposed since early 2018 would boost global economic output by 0.8% by the end of 2020, Gita Gopinath, chief International Monetary Fund economist, said on Tuesday.
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China's outbound investment up 3.8 pct in January-September period - Xinhua | English.news.cn
China's non-financial outbound direct investment (ODI) posted steady growth in the first three quarters of the year, data showed Wednesday. Non-financial ODI in 164 countries and regions amounted to 555.11 billion yuan (about 78.5 billion U.S. dollars) in the period, up 3.8 percent year on year, according to the Ministry of Commerce.
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America Is Losing the Chinese Shopper - WSJ
For years, American companies looked to China as a land of new opportunity. Now a new reality is settling in: The Chinese consumer isn’t about to save the day for Western brands.
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China’s U.S. Exports Tumble as Tariffs Bite - WSJ
BEIJING—China’s exports to the U.S. shrank by more than one-fifth last month, hit by heavier tariffs, underscoring the urgency for Beijing to resolve trade friction with Washington.
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Mnuchin says tariffs may rise in December without final China trade deal | Financial Times
Steven Mnuchin, the US Treasury secretary, has warned that a new round of tariffs set for December 15 on $156bn of Chinese goods would be triggered if Beijing failed to seal the limited deal tentatively struck with Donald Trump last week. 
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Chinese Inflation Surges as Pig Prices Fly High - WSJ
BEIJING—Surging pork prices pushed China’s consumer inflation to a near six-year high in September, complicating Beijing’s effort to stimulate growth but also giving it an incentive to buy more agricultural goods from the U.S.
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week41 | 2019

week41 | 2019

CGCC News
CGCC Insights Vol. 6 - Fuyao Group North America
Jeff Liu, Board Director of CGCC and President and CEO of Fuyao Group North America sat down with NewsChina as part of t...
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CBRE’s Darcy Stacom on the Chrysler Building Sale, Trophy Assets and Off-Market Sales
"The 'Queen of Skyscrapers' Darcy Stacom has more than earned her nickname recently. The CBRE broker — who, along with ...
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US stocks end higher ahead of US-China trade talks | Financial Times
US stocks closed higher on Thursday as investors took an optimistic stance ahead of the resumption of high-level trade talks in Washington between the US and China.
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Companies Struggle While Awaiting Rulings on Tariff Exemptions - WSJ
Since the appeals process opened June 30, the companies have filed more than 31,000 requests for exemptions from the $200 billion tranche of tariffs implemented last year on Chinese goods. The U.S. Trade Representative’s office has ruled on 439 requests so far, denying 86% of them. While many of the 31,000 requests were filed close to the September deadline, 7,700 requests have been waiting between one and two months for a decision and more than 5,000 requests have received no decision in more than two months.
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U.S.-China Trade Talks Begin on Positive Note - WSJ
Financial markets rose on prospects of any headway after five months of stalemate, and on the news Mr. Trump would meet on Friday with Chinese Vice Premier Liu He at the White House. Speaking to reporters Thursday evening, the president said, “We had a very, very good negotiation.”
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Fed worried about rising economic risks from trade war | Financial Times
Federal Reserve economists have warned about the rising downside risk to the economy in the year ahead, according to the minutes of its September policy meeting at which it cut interest rates for the second time this year.
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Senator Seeks Review of Acquisition by TikTok Owner - WSJ
WASHINGTON—U.S. Sen. Marco Rubio (R., Fla.) is calling for a national-security review of the 2017 deal that enabled the Chinese owner of video-sharing app TikTok to expand its reach in the U.S., saying the platform’s moderators are censoring content to appease Beijing.
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Trade Talks Resume at Pivotal Moment in U.S.-China Relations - WSJ
WASHINGTON—Senior U.S. and Chinese officials will square off for trade talks Thursday at a pivotal moment in the countries’ relationship, with higher tariffs looming if negotiators fail to break a five-month stalemate.
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China Open to Partial U.S. Trade Deal Despite Tech Blacklist
China is still open to reaching a partial trade deal with the U.S., an official with direct knowledge of the talks said, signaling that Beijing is focused on limiting the damage to the world’s second-largest economy.
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China, Blue-Chip Companies Drive Bond Boom - WSJ
Countries and companies across the globe boosted their issuance of new bonds, while increased political turmoil in the U.S., China and Europe whipsawed stock and debt markets in recent months.
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U.S. visa move against China casts pall over talks to end trade war - Reuters
WASHINGTON (Reuters) - The United States on Tuesday imposed visa restrictions on Chinese officials for the detention or abuse of Muslim minorities, angering Beijing, but a U.S. official said high-level trade talks would still take place on Thursday and Friday as planned.
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US pushes for western rival to Huawei | Financial Times
The US is looking at ways to funnel money to Huawei’s European rivals, as officials warn that the Chinese company is becoming dangerously dominant in the global race for the next generation of mobile communications.
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U.S. Adds Chinese Firms to Blacklist, Citing Repression of Muslim Minorities - WSJ
WASHINGTON—The U.S. added 28 Chinese entities to an export blacklist Monday, citing their role in Beijing’s repression of Muslim minorities in northwest China, just days before high-level trade talks are set to resume in Washington.
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China Is Buying Soybeans Again as Trade Talks Resume - WSJ
WASHINGTON—The long-frozen U.S.-China trade talks are showing signs of a possible thaw, as a Chinese trade team returns to Washington and Chinese commodity buyers return to America’s soybean market.
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Bond Funds Continue to Attract Cash - WSJ
U.S.-stock funds posted a slight decline for the quarter of 0.03% but remain up 18.3% for the year to date, according to Thomson Reuters Lipper data. International-stock funds posted an average decline of 1.4%, to trim their year-to-date gain to 12.8%.
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Friday’s Jobs Report to Offer Clues on U.S. Economy’s Resilience - WSJ
The September employment report to be released Friday will provide the latest snapshot of the U.S. economy’s health during a period of global turbulence and heightened trade-war uncertainty. The labor market continues to grow, but at a slower pace than last year. Here is what to watch for in the September jobs report, expected Friday at 8:30 a.m. ET.
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Mixed Market Signals Pose a Conundrum for Investors - WSJ
Investors are trying to determine whether recent contradictory signals on U.S. growth mark the start of a prolonged slowdown or another speed bump in the 10-year economic expansion.
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week40 | 2019

week40 | 2019

Trump Administration Used Potential Meeting to Pressure Ukraine on Biden, Texts Show - WSJ
WASHINGTON—The Trump administration sought to use a potential meeting between the president and his Ukrainian counterpart as leverage to press Kyiv to investigate Joe Biden, newly released text messages showed, as President Trump called on China to also investigate his political rival.
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Chastened WeWork Weighs Pullback in China - WSJ
We Co.’s new management team is considering reining in aggressive expansion plans in China as part of the company’s new emphasis on controlling costs, people familiar with the matter say.
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Services Stumble Threatens Sharper Slowdown - WSJ
U.S. services-sector activity last month expanded at its slowest pace in three years, prompting concerns a manufacturing downturn is spreading across the economy.
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Past October Performances Haunt Investors in U.S. Stocks - WSJ
October is often considered a spooky month for investors, but history suggests the fears are overblown.
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Microsoft Is Making Smartphones Again, With Help From Google - WSJ
Microsoft Corp. MSFT -1.77% is returning to the smartphone game and plans a suite of new wireless computing devices, including two with dual screens that fold together like a book.
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U.S. to Impose Tariffs on EU Goods After WTO’s Airbus Ruling - WSJ
The U.S. plans to swiftly impose tariffs on $7.5 billion in aircraft, food products and other goods from the European Union after the World Trade Organization authorized the levies Wednesday, citing the EU’s subsidies to Airbus EADSY -1.76% SE.
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China official manufacturing PMI contracts for 5th month | Financial Times
China’s manufacturing sector shrank for a fifth month in September, government data showed on Monday, amid the effects of the ongoing China-US trade war.
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Slowing Trade Hits Global Manufacturing - WSJ
U.S. factory activity contracted for the second straight month in September and hit a 10-year low, triggering fresh concerns about the economy and a broad stock-market decline.
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Impeachment Probe Could Shift China Trade-War Dynamics - WSJ
The House impeachment investigation could put new pressure on President Trump to seek a limited trade deal with China as a means of shoring up political support ahead of what could be the defining fight of his administration, according to close observers in both Washington and Beijing.
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Cryptocurrency Startup to Pay $24 Million in SEC Settlement - WSJ
A startup behind one of the largest initial coin offerings of the past several years will pay $24 million to resolve a U.S. regulator’s allegations that its deal violated federal investor-protection laws.
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WeWork Still Needs Cash After Pulling IPO - WSJ
For years, WeWork’s parent company was defined by big spending as it relentlessly pursued rapid growth.
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Google Draws House Antitrust Scrutiny of Internet Protocol - WSJ
Congressional antitrust investigators are scrutinizing plans by Google to use a new internet protocol because of concerns that it could give the company a competitive advantage by making it harder for others to access consumer data.
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The Bad News on China’s Economy Gets a Little Better This Month - WSJ
BEIJING—Gauges of China’s manufacturing activity rebounded in September thanks to improving domestic demand, but orders from overseas markets remained subdued amid a protracted trade fight between Beijing and Washington.
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Many Manufacturers’ Ups and Downs Have Little to Do With Trump - WSJ
Since President Trump took office, one of the manufacturing sectors with the fastest growing employment has been mining and oil-and-gas machinery, up 25%. One of the worst-off has been cut-and-sew apparel contractors, down 22%.
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U.S. Ban of Cosco Tankers Rattles Oil Transport - WSJ
Shipping brokers around the world are being swamped with calls from oil traders looking for replacement ships after the U.S. blacklisted dozens of tankers operated by a major Chinese tanker operator.
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week39 | 2019

week39 | 2019

CGCC News
Ogilvy Launches China CMO Study
Ogilvy China today launched a report that explores the current state of brand building among Chinese companies going glo...
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CGCC Supported Vision China Forum: “China-US Relations: 40 Years & Beyond” in NY
On September 17th, China Daily USA and Bank of China hosted the 8th Vision China Forum: "China-US Relations: 40 Years & ...
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US blacklists Chinese companies for shipping Iran oil | Financial Times
The US has put sanctions on several Chinese companies and their top officials for allegedly shipping Iranian oil, putting dozens of supertankers off limits to western energy traders.
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China Slips in Its Rush to Embrace Electric Vehicles - WSJ
SHANGHAI—The world’s fastest-growing market for electric vehicles is slowing.
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Central-Bank Hawks Raise Their Voices Against Low Rates - WSJ
Major central banks have seen more internal dissent over adding stimulus or have opted to leave monetary policy unchanged in recent weeks, a shift after a wave of easing earlier this year amid cooling global growth.
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Chip Stocks Are Back on the Menu - WSJ
Apple Inc. ’s new iPhone, sure to be a welcome present for kids and parents this holiday season, also could potentially be a gift for semiconductor stocks too.
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Alibaba unveils self-developed AI chip for cloud computing services - Reuters
HANGZHOU, China (Reuters) - Alibaba Group Holdings Ltd said on Wednesday it has developed a new chip that specializes in machine-learning tasks and which will be used to enhance services for its cloud computing division.
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Amazon Extends Alexa’s Reach Into Wearables - WSJ
SEATTLE— Amazon.com Inc. AMZN 1.53% is bringing its Alexa virtual assistant to products ranging from earbuds to finger rings, as the e-commerce giant looks to expand the reach of its technology into users’ everyday lives.
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China’s Labor Market Is Changing, but It Isn’t Because of a Trade War - WSJ
ZHUHAI, China—President Trump says U.S. tariffs are battering the Chinese economy, throwing millions of Chinese workers out of jobs—and pressuring the country’s president, Xi Jinping, to strike a trade deal.
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Pelosi Announces Impeachment Inquiry of President Trump - WSJ
WASHINGTON—Speaker Nancy Pelosi said the House would move ahead with an “official” impeachment effort after reports that President Trump withheld aid to Ukraine while he was pressing the country to investigate Democratic presidential candidate Joe Biden and his son.
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U.S.-China Trade Tensions Jeopardize Rollout of Self-Driving Vehicles - WSJ
Proposed U.S. controls about sharing technology with China threaten the development of self-driving vehicles, an area where U.S. and Chinese businesses have grown to rely on each other in recent years.
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Apple to Keep Building Mac Pro in U.S. After Securing Tariff Relief - WSJ
Apple Inc. AAPL 0.45% said it is keeping production of its new Mac Pro in Texas, reversing earlier plans to shift assembly of the computer to China.
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The Coming Currency War: Digital Money vs. the Dollar - WSJ
The future of money might be a digital version of the cash that’s already in people’s wallets—potentially upending the currency system that the world has known for many decades.
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Meat Is Getting Pricier Because China Is Peckish for Protein - WSJ
China is on a global meat-buying spree, pushing up beef, pork and poultry prices around the globe as the world’s most populous nation scrambles to fill a large void in its meat supply.
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Chinese Tech Companies Turn to Financial Services - WSJ
China’s biggest internet and technology companies are crowding into the financial-services business, hoping to monetize troves of data they’ve collected on millions of people in the country.
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Goldman, China’s Sovereign-Wealth Fund Begin Investing in U.S. Manufacturing - WSJ
BEIJING—China’s sovereign-wealth fund has started investing in the U.S. manufacturing sector through a joint venture with Goldman Sachs Group Inc., but warned it would be more cautious about the American market because of the trade war.
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Trump Says He Wants ‘Complete Deal’ With China - WSJ
WASHINGTON—President Trump rejected suggestions that the U.S. would accept a partial trade agreement with China, saying his administration is “looking for a complete deal.”
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week38 | 2019

week38 | 2019

CGCC News
CGCC hosted a Discussion of “American Factory” & Operational Insights and Perspectives on Chinese Companies in the U.S.
On September 17th, China General Chamber of Commerce - USA (CGCC) hosted a discussion of the documentary film, “American...
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World Economy to Grow at Lowest Rate Since Financial Crisis: OECD
The global economy is set to grow at the slowest pace since the financial crisis, with business investment and trade hampered by an escalating dispute between the U.S. and China that could inflict even more damage over coming years, the Organization for Economic Cooperation and Development said Thursday.
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Vietnam gains ground in shift from China | Financial Times
Outside a former Nokia phone factory in the north Vietnamese province of Bac Ninh, a freshly-posted sign advertises jobs for “hardworking, dynamic” workers over 16 years old.
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Huawei Launches First Smartphone Without Google’s Key Apps - WSJ
MUNICH—Huawei Technologies Co. on Thursday unveiled its first smartphone devoid of Google’s most popular apps, a byproduct of the U.S.-China trade dispute that could complicate the Chinese technology giant’s efforts to stoke demand for its consumer products outside China.
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Fed Cuts Rates By Quarter Point but Faces Growing Split - WSJ
WASHINGTON—The Federal Reserve cut its benchmark interest rate by a quarter-percentage point for the second time in as many months to cushion the economy against a global slowdown amplified by the U.S.-China trade war.
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Lawmakers Seek Ban on Chinese Drone Purchases by Federal Agencies - WSJ
WASHINGTON—A bipartisan group of lawmakers introduced legislation on Wednesday that would bar federal agencies from buying drones from China and any other country deemed a national-security risk.
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U.S. Outlines Plans to Scrutinize Chinese and Other Foreign Investment - The New York Times
WASHINGTON — The Trump administration proposed new rules on Tuesday that would allow the United States to exert greater control over foreign investment by broadening the government’s authority to block technology and real estate transactions.
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Fossil fuel divestment has ‘zero’ climate impact, says Bill Gates | Financial Times
Climate activists are wasting their time lobbying investors to ditch fossil fuel stocks, according to Bill Gates, the billionaire Microsoft co-founder who is one of the world’s most prominent philanthropists.
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Global Services Trade Also Set To Slow, Says WTO - WSJ
The impact of the U.S.-China trade war, until now largely confined to manufacturing, may be spreading to the trade in services, a development that could further drag on global economic growth.
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Trump Says China Is Buying U.S. Farm Products - WSJ
WASHINGTON—President Trump said China has started to buy U.S. agricultural products, and signaled optimism that his administration will be able to sign a trade deal with China before the 2020 presidential election.
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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.
Read More

week37 | 2019

week37 | 2019

CGCC News
China General Chamber of Commerce – Washington DC Chapter Celebrates Mid-Autumn Festival
On the eve of the traditional Mid-Autumn Festival, China General Chamber of Commerce – Washington DC Chapter (CGCC-DC) h...
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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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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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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.
Read More
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.
Read More

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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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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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.
Read More
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.
Read More

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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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.
Read More
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.
Read More
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.
Read More
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.
Read More

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...
Read More
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.
Read More
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.
Read More
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.
Read More

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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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

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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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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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

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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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

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.
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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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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.
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week23 | 2019

week23 | 2019

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.
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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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