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CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week3 | 2019

week3 | 2019

Weekly Headlines
Fed Says Student Debt Has Hurt the U.S. Housing Market - WSJ
The Federal Reserve has linked rising student debt to a drop in homeownership among young Americans and the flight of college graduates from rural areas, two big shifts that have helped reshape the U.S. economy.
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China Speeds Long-Sought Foreign-Investment Law - WSJ
BEIJING—Chinese lawmakers are accelerating work on a long-sought foreign-investment law, as Beijing seeks a hurried concession to the U.S.
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As China Slows, Sneakers and Noodles Beat Jewelry and Liquor Stocks - WSJ
Shares in companies catering to everyday Chinese needs have fared better than those serving high-end consumption.
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Theresa May’s Brexit suffers historic defeat | Financial Times
Theresa May’s Brexit deal, the product of two years of tortuous negotiations in Brussels, was on Tuesday night overwhelmingly rejected by the House of Commons by 432 votes to 202.
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China injects record $84bn to boost economy and avoid cash squeeze | Financial Times
China’s central bank injected a record Rmb570bn ($84bn) into the country’s banking system via open market operations on Wednesday in the latest effort to boost liquidity and promote increased lending to a slowing economy.
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Big Banks Find Sweet Spot in Higher Rates - WSJ
Rising interest rates from the Federal Reserve have aided the profitability of bank lending units
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The Trade Conflict Starts to Bite China - WSJ
Chinese exports have been suffering this winter, but until Monday there wasn’t much evidence that the trade tussle with the U.S.—rather than slowing global growth—was a major culprit.
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Alibaba Confident in China Sales Despite ‘Troubling Headwinds’ - WSJ
The president of Chinese e-commerce giant Alibaba Group Holding Ltd. expressed confidence in the country’s consumer market despite recent data showing a deepening economic slowdown.
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Apple Rattled Markets With Warning About China. Who’s Next? - WSJ
When Apple Inc. AAPL -1.50% said China’s slowing economy contributed to its late-year sales slump, the news rattled the stocks of other major U.S. companies with big operations in the world’s second-largest economy.
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Shutdown Pinches Economic Growth - WSJ
A Vermont mead brewery has delayed a major expansion because the owners can’t get a business loan. A craft-burger joint in Utah has sent employees home because sales are down. And a Maryland Lyft driver has seen his weekly income fall by nearly half.
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China’s Annual Trade Surplus With U.S. Hits Record Despite Trump’s Tariff Offensive - WSJ
BEIJING—China’s trade surplus with the U.S. hit a record last year, as robust American demand for Chinese goods undercut the Trump administration’s tariff offensive aimed at narrowing the countries’ lopsided trade gap.
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Chinese investment in the US slumps to 7-yr low: report | Financial Times
Chinese investments in the US plunged 84 per cent to its lowest level in seven years as Washington upped its scrutiny of deals, Beijing tightened capital controls and as relations between the world’s two largest economies soured over trade, a new report shows.
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week2 | 2019

week2 | 2019

CGCC News
China General Chamber of Commerce – USA Hosts CGCC Chinese Lunar New Year of the Pig Gala
On Monday, January 7, 2019, China General Chamber of Commerce – USA (CGCC) – the largest nonprofit organization represen...
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Weekly Headlines
U.S. Blocks Some Exports From Huawei’s Silicon Valley Unit - WSJ
Huawei Technologies Co. is contending with a new obstacle: getting technology it developed at a U.S. subsidiary back to China.
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As Fed Fuels a Global Rally, Asian Currencies Lag Behind - WSJ
The Federal Reserve has signaled it is in no rush to raise interest rates further, pushing down the dollar and ushering in new-year rallies in emerging-market currencies, global stocks, and corporate bonds. Asian foreign-exchange markets didn’t get the memo.
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U.S.-China Trade Fight Shakes Global Economy, but Isn’t All Bad for Bystanders - WSJ
Countries watching the U.S.-China trade talks from the sidelines are anxious for the two sides to reach a deal and avert the damage a protracted fight poses to the global economy—even if many see the potential to benefit from the dispute.
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US-China trade talks conclude as hopes of progress rise | Financial Times
US and China officials discussed ways to implement and enforce a trade deal between the two countries, as three days of negotiations wrapped up in Beijing amid growing optimism that the dispute weighing on their economies could be defused.
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Trump Walks Out of Shutdown Talks, Calls Them ‘Total Waste of Time’ - WSJ
As negotiations to end a partial government shutdown broke down Wednesday, White House officials said an increasingly likely option is for President Trump to declare a national emergency over border security and try to use Pentagon funds to pay for construction of a wall or other barrier on the U.S.-Mexico border.
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China’s Sluggish Prices Raise Deflation Fears - WSJ
BEIJING—Consumer and producer prices decelerated sharply in China last month, compounding the challenge for Beijing in boosting sluggish demand in a deepening economic downturn.
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Car and appliance makers glow as China eyes consumption boost | Financial Times
Shares in large Chinese carmakers and appliance manufacturers jumped on Wednesday on reports Beijing is planning fresh incentives to boost domestic consumption as part of its bid to shore up the country’s slowing economy.
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Global Growth to Lose Momentum This Year, World Bank Says - WSJ
The World Bank cut its forecasts for global growth in 2019 and 2020, citing a worsening set of factors from trade tensions to financial-market instability to currency challenges in a number of emerging markets.
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U.S., China Negotiators Narrow Differences on Trade - WSJ
BEIJING—The U.S. and China made progress on narrowing their differences on trade issues, especially on purchases of U.S. goods and services and widening access to China’s markets, though the two sides are far from striking a deal.
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Chinese Bond Yields Hit Two-Year Low - WSJ
A weak economy has helped push Chinese bond yields to a two-year low. To some investors that looks overdone, given a likely surge in government debt issuance and a stabilizing stock market.
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Signs Point to Strong January for Stocks - WSJ
Two consecutive sessions of stock gains erased the worst two-day start to a year since 2000. For investors who track seasonal patterns in markets, it also pointed major indexes in the right direction.
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U.S. Pushes China to Follow Through on Trade Promises - WSJ
BEIJING—The U.S. and China opened talks on Monday to resolve a trade fight that is threatening the global economy, with U.S. negotiators focused on a make-or-break issue: guarantees that Beijing will follow through on its offers.
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Fed Chairman Powell Sees Flexibility on Rates This Year - WSJ
ATLANTA—Federal Reserve officials on Friday laid the groundwork to take a break from raising short-term interest rates in coming months, propelling stock prices already cheered by a stronger-than-expected December jobs report.
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Trade Tensions Take a Toll on China’s Economy - WSJ
SHENZHEN—China’s economy is slowing faster than expected as Beijing this week heads into a crucial new round of negotiations with the U.S. over trade.
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Musk says Tesla to break ground on Shanghai factory - - FT中文网
Elon Musk has said Tesla will break ground on its first China factory on Monday with plans to start producing its Model 3 vehicles in Shanghai by the end of the year.
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week1 | 2019

week1 | 2019

CGCC News
2019 Awardees Announced Ahead of CGCC’s Annual Gala
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Weekly Headlines
House Passes Spending Package in Bid to End Shutdown - WSJ
WASHINGTON—House Democrats passed a spending package aimed at reopening the federal government, defying President Trump’s demands for border-wall funding on their first day in power.
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Apple’s Troubles Extend Beyond China - WSJ
Apple Inc. AAPL -9.96% chief Tim Cook blamed China’s accelerating economic slowdown for stumbling iPhone sales that hurt its global revenue in the past quarter. The company’s problems run deeper in China and extend to markets beyond.
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Chinese Consumers Tighten Their Belts and the World Feels the Squeeze - WSJ
BEIJING—The Chinese consumer, a previously reliable driver of economic growth, is under stress, threatening to deepen a broad slowdown in China’s economy that is rattling global markets.
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Tariff Exclusions for Certain Steel Imports Sow Confusion - WSJ
Steel importers are winning most of their requests for tariff exclusions for products they say they can’t find in the U.S., but the process is riddled with inconsistencies and frequent procedural changes, according to manufacturers and importers.
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Apple Makes Rare Cut to Sales Guidance - WSJ
Apple Inc. AAPL 0.11% slashed its quarterly revenue forecast for the first time in more than 15 years, an unprecedented move in the Tim Cook era that was prompted by a downturn in sales of iPhones in China.
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Investor Interest in Chinese Tech Begins 2019 Not With a Bang but a Whimper - WSJ
The flood of money rushing into Chinese internet startups has slowed, dashing hopes of quick windfalls for many investors.
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Great Retreat From Global Bank Lending Continues - WSJ
The banks hit hardest by the financial crisis have retreated from overseas lending in the decade since the 2008 collapse of Lehman Brothers, marking a rare example of a sector in which leverage has been curtailed even as global debt has boomed.
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Chinese Investors Back Away From Global Property Markets - WSJ
Chinese investors will likely continue beating a retreat from the world’s top commercial real-estate markets in 2019, adding to the downward pressure on prices from rising interest rates.
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Investors on Edge After Stocks’ Biggest Yearly Loss Since 2008 - WSJ
Stock investors are heading into the new year with a sense of wariness after contending with sharp reversals across much of the market in the fourth quarter.
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