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CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week12 | 2019

week12 | 2019

Weekly Headlines
Fed Faces Crucial Decision on Mix of Treasurys in Its Portfolio - WSJ
Markets have cheered the Federal Reserve’s imminent announcement that it will stop shrinking its asset portfolio later this year, but determining that date is just one challenge facing central-bank officials.
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China’s appetite for US assets imperilled at worst possible time | Financial Times
Trade tensions between Washington and Beijing have fixed all eyes on China’s large goods trade surplus with the US. While the likelihood of an outright trade war is hard to gauge, largely overlooked is another threat arriving with near certainty from the world’s second-largest economy — the end of China’s large current account surplus. Without those large surpluses, China will probably cut back its purchases of US financial assets, just as Treasury bond issuance surges and corporate America needs to refinance more of its debt.
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High-Level U.S.-China Trade Talks to Resume in Final Push for Deal - WSJ
WASHINGTON—Negotiators for the U.S. and China have scheduled a new round of high-level trade talks in Beijing and Washington, aiming to close a deal by late April to end the yearlong dispute between the world’s two largest economies.
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China hits back at Brussels over ‘systemic rival’ warning

China has hit back at Brussels’ decision to brand it a “systemic rival”, insisting that relations with the EU will be co-operative despite widening divisions in areas from trade to digital security.

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Chip-Stocks Rally Could Be in Jeopardy if Trade Deal Disappoints - WSJ
Shares of chip makers are surging toward their best quarter in more than two years as U.S.-China trade tensions have thawed, but they face a critical test as a trade deal is hammered out.
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U.S. Chip Makers Fear Trap in a Trade Deal With China - WSJ
WASHINGTON—U.S. semiconductor companies want no part of any trade deal that calls for stepped-up purchases from China, worried that would give Beijing more control over their industry.
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China Investment in U.S. Startups Keeps Flowing Despite New Rules - WSJ
Chinese investment in U.S. startups has remained resilient in recent months despite new U.S. legislation that some thought could severely hamper deal flow, according to a new report.
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Trump Vetoes Congressional Disapproval of Emergency Declaration - WSJ
WASHINGTON—President Trump vetoed a congressional resolution disapproving of his national-emergency declaration, asserting his authority to tap funding for barriers on the southern border even though the money hadn’t been appropriated by lawmakers.
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Talk to Trump, Skip the Diplomats: World Leaders’ New U.S. Tactic - WSJ
WASHINGTON—World leaders have found a new route to get a read on official U.S. thinking: straight to the top.
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week11 | 2019

week11 | 2019

CGCC News
Going My Wei: Behind Fosun’s Transformation of 28 Liberty Street
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Yuhuang's methanol plant in southern U.S. making progress
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Weekly Headlines
China passes law in bid to ease overseas investor concerns | Financial Times
China has passed a new foreign investment law that it hopes will help smooth the way to a new trade deal with the US, granting foreign companies equal standing with state-owned businesses.
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China’s Economic Slowdown Broadens, Despite Government Support - WSJ
BEIJING—China’s economy isn’t done slowing, with industrial activity and home sales cooling in the first two months of the year, despite a rebound in investment driven by Beijing to shore up growth.
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China’s Economic Slowdown Broadens, Despite Government Support - WSJ
BEIJING—China’s economy isn’t done slowing, with industrial activity and home sales cooling in the first two months of the year, despite a rebound in investment driven by Beijing to shore up growth.
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America’s Undersea Battle With China for Control of the Global Internet Grid - WSJ
A new front has opened in the battle between the U.S. and China over control of global networks that deliver the internet. This one is beneath the ocean.
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America’s Undersea Battle With China for Control of the Global Internet Grid - WSJ
A new front has opened in the battle between the U.S. and China over control of global networks that deliver the internet. This one is beneath the ocean.
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China’s cyclical recovery is picking up steam
The slowdown in the US and eurozone economies continues to surprise the Federal Reserve and the European Central Bank, explaining their recent sharp turn towards dovishness. ECB president Mario Draghi coined another of his memorable phrases last week, saying that “pervasive uncertainty” meant downside risks, even relative to the central bank’s latest downgraded growth forecasts, were still predominant.
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Donald Trump’s trade chief warns that China talks could fail
US President Donald Trump’s trade chief has warned that negotiations to end the tariff war with China were at risk of failing, saying “major, major issues” needed to be resolved before an agreement was reached, and he could not “predict success at this point”. 
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Bigger Than E*Trade: A Chinese Online Broker Soars - WSJ
HONG KONG—Bubbly Chinese stocks are back.
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Drop Huawei or See Intelligence Sharing Pared Back, U.S. Tells Germany - WSJ
BERLIN—The Trump administration has told the German government it would limit intelligence sharing with Berlin if Huawei Technologies Co. is allowed to build Germany’s next-generation mobile-internet infrastructure.
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White House Proposes $4.7 Trillion Budget for Fiscal 2020 - WSJ
The White House released a $4.7 trillion budget Monday that proposed sharply reducing spending on safety-net and many discretionary government programs, while boosting defense and border-protection funding, in a plan that also projected a long run of continued deficits.
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U.S., China Near Currency Deal; Beijing Vows Not to Devalue Yuan to Help Exports - WSJ
BEIJING—China’s top central banker signaled that Beijing and Washington are getting close to reaching a currency deal as part of their continuing negotiations to settle a yearlong trade battle.
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China Pushes Ahead With New Foreign-Investment Law - WSJ
BEIJING—China’s legislature made scant changes to a proposed law on foreign investment criticized by business groups as vague, as Beijing hurries the bill’s passage to ease trade tensions with the U.S. while leaving key complaints unaddressed.
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U.S.-China Trade Talks Hit a Bump - WSJ
A U.S.-China trade accord is facing a new roadblock, as Chinese officials balk at committing to a presidential summit until the two countries have a firm deal in hand, according to people familiar with Beijing’s thinking.
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week10 | 2019

week10 | 2019

CGCC News
International Vitamin Corporation (IVC) forms joint venture with GNC
On March 5th, CGCC member company International Vitamin Corporation (IVC), a world leading nutritional supplement manufa...
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Weekly Headlines
Slow Growth Prods Central Banks - WSJ
Concern over sluggish global growth is causing central bankers to shift tacks, as the European Central Bank unveiled surprise plans Thursday to stimulate the Continent’s flagging economy and Federal Reserve officials signaled their growing reluctance to raise U.S. interest rates at all.
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Trump-Xi summit pushed back from end-March as details hammered out
A summit between US president Donald Trump and Chinese president Xi Jinping has been pushed back from the end of March, as both sides try to pin down details and avoid an embarrassing failure.
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Chinese Exports Plunge as Slowdown Deepens - WSJ
BEIJING—China’s exports fell sharply last month, adding to headwinds for the world’s second-largest economy as officials struggle to arrest a slowdown.
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Facebook Plans New Emphasis on Private Communications - WSJ
Facebook Inc., which became the world’s biggest social network by encouraging people to share photos and messages publicly, said it is now betting on the opposite: that the future of social media lies in private messaging and small-group chats.
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U.S. Posts Record Annual Trade Deficit - WSJ
WASHINGTON—The U.S. trade deficit in goods hit a record in 2018, defying President Trump’s efforts to narrow the gap, as imports jumped and some exports, including soybeans and other farm products, got hammered by retaliation against U.S. trade policies.
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Huawei Sues the U.S., Says Congress Acted as ‘Judge, Jury and Executioner’ - WSJ
SHENZHEN, China—Huawei Technologies Co. filed a lawsuit challenging a law signed by President Trump in August that restricts federal agencies from doing business with the Chinese company, the latest in a series of countermoves by the telecommunications giant.
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U.S. to Trim Trade Privileges for India, Turkey - WSJ
WASHINGTON—The Trump administration is planning to scrap India’s and Turkey’s participation in a privileged trading program that allows certain developing economies to avoid tariffs on some shipments to the U.S.
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U.S. Consumers Hit Hardest by Trade Tariffs, Studies Find - WSJ
WASHINGTON—The Trump administration’s trade initiatives have targeted China and other foreign powers, but it is U.S. consumers who have taken the hit, according to two new studies.
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U.S.-China Trade Deal Expected to Give Limited Boost to Growth - WSJ
The global economy is unlikely to receive a big boost from a trade agreement between the U.S. and China, since it would likely leave much uncertainty over future economic relations between the two, the Organization for Economic Cooperation and Development said Wednesday.
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Smartphone-Wielding Chinese Tourists Challenge Cash’s Reign - WSJ
TOKYO—Japan, usually a high-tech model for China, is learning from its neighbor how people can pay without cash.
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Cheniere Deal With China Signals Country’s Key Role in LNG Exports - WSJ
Cheniere Energy Inc.’s LNG 1.56% expected $18 billion deal to supply natural gas to China signals the company’s growing bet on the country, and China’s emergence as a top market for U.S. gas exporters.
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Chinese Stocks Hit Highest Since June on Hopes of Trade Breakthrough - WSJ
Chinese shares leapt Monday, leading regional gains, on optimism about a long-awaited accord with the U.S. and hopes for fresh official support for the Chinese economy.
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China’s bureaucrats tighten belts ahead of annual Congress | Financial Times
China’s annual legislative session will open this week with the traditional stirring music and long speeches but the mood among the thousands of bureaucrats who make up the audience is expected to be unusually gloomy.
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U.S., China Close In on Trade Deal - WSJ
China and the U.S. are in the final stage of completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other products and Washington considering removing most, if not all, sanctions levied against Chinese products since last year.
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week9 | 2019

week9 | 2019

CGCC News
CGCC Board Members Attended JCCI New Year’s Party
On February 27, 2019, representatives of China General Chamber of Commerce-USA (CGCC) attended a dinner reception hosted...
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Weekly Headlines
US and China settle on trade enforcement process | Financial Times
Donald Trump’s top trade negotiator said the US and China had settled on a process for enforcing a trade agreement between the countries, clearing a key hurdle in the negotiations to end their trade war.
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U.S., North Korea Trade Blame for Failed Summit - WSJ
HANOI—A summit that might have led to North Korea’s first tangible disarmament steps faltered because Pyongyang wouldn’t freeze all of its weapons programs and sought billions of dollars in sanctions relief, a senior State Department official said Friday, as the two sides blamed each other for their failure to reach an agreement.
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On China, Trump Risks Repeating Experience of Bush and Obama - WSJ
In 2003, Dan Sullivan, then a White House national-security staffer, was in the Oval Office when China’s vice premier promised President George W. Bush the country would fix intellectual property theft. It didn’t.
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Buoyant Chinese stock market awaits MSCI decision | Financial Times
The end of a month in which Chinese shares have trounced every other market may appear the perfect backdrop for MSCI, one of a trio of index providers that have an outsized role in shaping the global flow of money.
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Where China Dominates in 5G Technology - WSJ
HONG KONG—Western countries are building more barriers to Huawei Technologies Co. equipment in their 5G network rollouts. But that won’t change an underlying truth about the next-generation communications networks: Technology developed in China will be at the center.
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China’s Factory Activity at Lowest Level in Three Years - WSJ
BEIJING—Activity in China’s critical manufacturing sector fell to its lowest level in three years in February, weighed on by weak global demand and the long Lunar New Year holiday.
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What shape could a US-China trade agreement take? | Financial Times
Donald Trump’s pronouncement of a delay in the deadline for a planned rise in tariffs on Chinese imports, citing “substantial progress” in negotiations with Beijing at the weekend, has increased expectations that a deal will be reached to end the trade war.
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U.S. Takes Huawei Fight Directly to Telecom Industry - WSJ
BARCELONA—American officials inserted themselves into the telecom industry’s biggest trade fair to slam Huawei Technologies Co.—one of the event’s main sponsors—as “duplicitous and deceitful” and to warn other governments they won’t be able to use U.S. aid to buy the Chinese company’s gear.
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Jerome Powell Affirms Fed’s Patient Approach to Interest-Rate Changes - WSJ
WASHINGTON—Federal Reserve Chairman Jerome Powell said the central bank is in no rush to move interest rates while officials assess the impact on the U.S. economy of slower global growth and financial-market turbulence.
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China Intends to Continue Debt-Reduction Efforts - WSJ
BEIJING--China’s financial regulator pledged to continue debt-reduction efforts as Beijing sharpened its rhetoric against rising economic risks during a domestic slowdown.
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Apple’s Deal With Goldman Has Wall Street on Defense - WSJ
Apple Inc. AAPL 0.73% executives came to a group of big banks in 2017 with a problem.
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U.S. Firms Dial Back China Plans Amid Trade Fight - WSJ
BEIJING—U.S. companies are planning their lowest rate of expansion in China since 2016 in response to growing uncertainty about U.S.-China relations and a slowing Chinese economy, according to a survey by the American Chamber of Commerce in China.
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Huawei’s Foldable Smartphone Raises the Bar—and Price Tag - WSJ
BARCELONA—Just days after Samsung Electronics Co. launched the industry’s first mainstream foldable-screen smartphone, China’s Huawei Technologies Co. upped the ante with a competing device and an even more stratospheric price tag.
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China Trade Talks Extended as Trump Pushes to Close the Deal - WSJ
WASHINGTON—President Trump, citing progress in U.S.-China trade talks, said he is looking at extending a deadline to raise tariffs and hoping to meet next month with Chinese leader Xi Jinping to complete a broad trade agreement.
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Trump to Delay Tariff Increases on Chinese Imports - WSJ
WASHINGTON—President Trump said Sunday he would delay an increase in tariffs on Chinese goods set to take effect at the end of this week, citing “substantial progress” on issues including intellectual property and technology transfer after a weekend of talks.
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week8 | 2019

week8 | 2019

CGCC News
CGCC Hosted 2019 Chinese Lunar New Year of the Pig Media Appreciation Reception
February 21, 2019, China General Chamber of Commerce – USA (CGCC) and Bank of China USA co-hosted the 2019 Chinese Lunar...
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CGCC-LA Hosts 2019 Annual Gala
February 20th, 2019, China General Chamber of Commerce - Los Angeles chapter held their 2019 Annual Gala at the Los Ange...
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CGCC-DC Gathered Members and Partners To Celebrate Chinese New Year
February 19th, 2019, China General Chamber of Commerce – Washington DC Chapter held its annual Chinese New Year Gala, ce...
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Weekly Headlines
Donald Trump appears to offer an olive branch to Huawei | Financial Times
Donald Trump appeared to offer an olive branch to Chinese telecoms company Huawei on Thursday, raising expectations that he was preparing the ground for a deal to halt the US trade war with China.
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A Surprise Winner From the U.S.-China Trade Spat: Russian Soybean Farmers - WSJ
RAZDOLNOE, Russia—The Partizan collective farm in this Siberian village should have been swept into the dustbin of history like thousands of others like it that collapsed after the Soviet Union’s fall. Instead it just raked in the biggest harvest of its 90-year history, bought new machines and paid out record bonuses.
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U.S. Bets on China’s Special Envoy in Trade Talks - WSJ
WASHINGTON—As U.S.-China trade talks reach a pivotal point, the Trump administration is counting on the Chinese leader’s special envoy, Liu He, to get Beijing to accept tough new strictures that are increasingly controversial in Beijing.
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Trump Continues to Weigh EU Auto Tariffs - WSJ
WASHINGTON—President Trump said Wednesday the U.S. would impose auto tariffs on the European Union if a trade deal can’t be reached between the two sides, as tensions between the traditional allies continue to build.
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Trump, Xi Face Pressure at Home Over Trade - WSJ
WASHINGTON—Despite their sharp differences in style, background and policies, Chinese leader Xi Jinping and President Trump share a common problem: growing concerns on the home front that they are going to cave in to the other side.
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Fed Prepares to End Balance-Sheet Runoff Later This Year - WSJ
Most Federal Reserve officials last month indicated they were ready to stop shrinking the central bank’s $4 trillion asset portfolio this year and believed an action plan should be released soon.
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Alibaba Takes Stake in Bank Backed by Tencent - WSJ
HONG KONG—Chinese e-commerce behemoth Alibaba Group Holding Ltd. BABA 2.43% has joined online rival Tencent Holdings Ltd. TCEHY 0.87% as a sizable shareholder in investment bank and broker China International Capital Corp. 3908 5.79%
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China-US trade talks — the main differences | Financial Times
During the first round of China-US trade talks in Beijing in May, a US document listing the Trump administration’s demands was leaked. The document remains the most authoritative summary of the issues fuelling the ongoing trade war between the world’s two largest economies.
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Trump Eases Off Hard Deadline for China Tariffs - WSJ
WASHINGTON—President Trump gave his firmest indication yet that the U.S. may not increase tariffs on Chinese goods on March 1, as scheduled, despite statements by his top trade official that the U.S. should stick to a firm deadline.
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How Amazon Will Grow Without a New York HQ2 - WSJ
Amazon.com Inc.’s AMZN -0.91%decision to abandon its $2.5 billion plan for a New York City headquarters could disrupt redevelopment and dash hopes for a surge in hiring in the neighborhood of Long Island City. One entity unlikely to suffer much: Amazon itself.
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States File Suit Against Trump Administration Over Wall Emergency - WSJ
Sixteen states on Monday filed a federal lawsuit challenging President Trump’s national-emergency declaration to pay for a wall along the U.S.-Mexico border, setting up a showdown with the administration that could go to the Supreme Court and last through the 2020 election.
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As China Trade Talks Resume, Trump Pushes an Ambitious Agenda - WSJ
WASHINGTON—As trade negotiations with China resume this week, the Trump administration is racing to strike a deal that will result in long-term reforms—and prove that tariffs are an effective battering ram to open markets around the world.
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week7 | 2019

week7 | 2019

Weekly Headlines
Retail Sales Declined in December at Fastest Pace Since 2009 - WSJ
WASHINGTON—U.S. retailers registered a far worse December selling season than many analysts had realized, according to a government report Thursday that sent stocks lower and raised new questions about the vigor of economic growth.
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U.S. Push Against Huawei Gear Hits an Obstacle: Carriers That Love It - WSJ
LONDON—Washington’s campaign to get some of its closest European allies to give up telecommunications gear made by Chinese companies has been a tough sell.
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China Seeks to Woo U.S. With Promise of Big Chip Purchases - WSJ
BEIJING—China is counting on promises of big purchases of U.S. semiconductors and other goods to ease trade tensions and persuade President Trump to extend a tariff truce and later resolve the market-rattling dispute directly with Chinese leader Xi Jinping.
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China exports return to growth despite trade tensions | Financial Times
Chinese exports rebounded in January, returning to growth as import declines eased, although analysts were unconvinced the jump in outbound shipments pointed to a robust recovery.
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U.S. Tax Revenues Fall, Deficit Widens in Wake of New Tax Law - WSJ
WASHINGTON—Federal tax revenue declined 0.4% in 2018, the first full calendar year under the new tax law, despite robust economic growth and the lowest unemployment rate in nearly five decades.
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Border-Security Funding Deal Nears a Vote - WSJ
WASHINGTON—President Trump is likely to sign the border-security legislation finalized Wednesday that would keep the government from closing this weekend, people familiar with his plans said, but he continues to look for ways to supplement the modest funding it contains for barriers.
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Fed Chief Says U.S. Economic Expansion Has Been Uneven - WSJ
ITTA BENA, Miss.—Federal Reserve Chairman Jerome Powell said Tuesday, during a visit to Mississippi, that the economic expansion hasn’t been evenly shared in many parts of the country, particularly in rural America.
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China’s Developers Go on Borrowing Spree - WSJ
Chinese property companies with junk credit ratings have rushed to sell dollar-denominated debt, in their busiest start to a year on record.
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China, U.S. Seek Broad Outline of a Trade Pact This Week - WSJ
U.S. stocks rose Tuesday as President Trump said he is willing to delay next month’s deadline for resolving the U.S.’s trade conflict with China if negotiations with Beijing are progressing smoothly.
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Hey, Big Spender: Tech Cash Will Keep Flowing - WSJ
The demise of big tech spending has been greatly exaggerated.
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Amazon to Acquire Home Wi-Fi Company Eero - WSJ
Amazon.com Inc. AMZN 0.18% on Monday disclosed its latest bet to control the so-called smart home, adding to its fold a company that offers a Wi-Fi system that ditches the traditional router.
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How Bad Is the China Slowdown? U.S. Companies Offer Some Answers - WSJ
To gauge the scope of China’s economic slowdown, begin with forklifts.
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Trump Seeks to Boost AI as Chinese Competition Grows - WSJ
WASHINGTON—President Trump is expected to sign an executive order Monday aimed at boosting U.S. development of artificial intelligence—and at blunting China’s momentum in the field.
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Border-Security Funding Negotiations Stall as Shutdown Looms - WSJ
Negotiations over a bipartisan deal for border-security funding have stalled, aides familiar with the talks and other officials said, raising the specter of another government shutdown at the end of this week.
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The Internet, Divided Between the U.S. and China, Has Become a Battleground - WSJ
The global internet is splitting in two.
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week6 | 2019

week6 | 2019

CGCC News
China Telecom (Americas) Corporation President Tan Xu Elected CGCC-D.C. Acting Chairman
The Chairman of China General Chamber of Commerce – Washington D.C. Chapter, Executive Vice President of China Unicom (A...
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On WSJ, CGCC Wishes You A Healthy, Happy And Prosperous Year of the Pig
On Monday, February 4, China General Chamber of Commerce-USA (CGCC) and CGCC Foundation's Chinese Lunar New Year Messag...
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Weekly Headlines
GM Leans on U.S. Truck Buyers to Counter Weakness in China - WSJ
General Motors Co. is counting on U.S. buyers of pickup trucks and SUVs to bolster its bottom line.
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Trump Preparing Plan to Boost AI, 5G Technology - WSJ
WASHINGTON—President Trump is preparing an ambitious plan to ramp up the government’s role in speeding next-generation technologies such as 5G wireless and artificial intelligence, two key areas of competition with China.
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Pressure Grows on U.S., China to Forge Trade Deal - WSJ
WASHINGTON—As a deadline approaches for a high-stakes trade deal between the U.S. and China, some top American business figures who fear the economic and market consequences of a failure are pushing both sides to compromise.
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Twitter shares sink after disappointing revenue forecast | Reuters
NEW YORK (Reuters) - Twitter Inc forecast first-quarter revenue that was below analyst estimates on Thursday and said the number of users fell in the fourth quarter, sending its shares down 6 percent in premarket trading.
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Long, strange trip: How U.S. ethanol reaches China tariff-free | Reuters
NEW YORK/KUALA LUMPUR (Reuters) - In June, the High Seas tanker ship loaded up on ethanol in Texas and set off for Asia.
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Volvo Cars feels margin pressure from U.S.-China tariff war | Reuters
STOCKHOLM (Reuters) - Chinese-owned Volvo Cars reported a fall in 2018 profit margins as a prolonged trade war between Washington and Beijing pushed up costs and resulted in pricing pressure in its main market China.
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Apple Retail Chief Angela Ahrendts Leaving Company
Apple Inc. said that its retail chief, Angela Ahrendts, is leaving the company and will be succeeded by a longtime operations executive who now runs human resources, a move that comes as the tech giant wrestles with flagging iPhone sales.
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Trump Seeks to Reset Border-Wall Debate
WASHINGTON—President Trump in his State of the Union on Tuesday renewed his call for a wall on the southern U.S. border, but without repeating his threats in recent weeks to declare an emergency, striking a less-rigid tone in his first address to a divided Congress.
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U.S. Trade Negotiators Heading to Beijing Next Week
WASHINGTON—The U.S. is dispatching its chief trade negotiator, Robert Lighthizer, and Treasury Secretary Steven Mnuchin to Beijing early next week to continue trade talks as a March 1 deadline to reach an accord nears, a senior Trump administration official said Tuesday.
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U.S. trade agency sees negotiating new WTO rules to rein in China as futile | Reuters
WASHINGTON (Reuters) - Negotiating new World Trade Organization rules to try to rein in China’s “mercantilist” trade practices would be largely a futile exercise, the Trump administration’s trade office said on Monday, vowing to pursue its unilateral approach to protect U.S. workers, farmers and businesses.
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Sanctions on Venezuela’s Crude Hit Oil Market in Vulnerable Spot - WSJ
The deepening turmoil in Venezuela is exacerbating a shortfall of dense crude oil, leaving fuel makers in the lurch and underscoring the limitations of U.S. shale.
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The Malaise in Global Trade Is Only Getting Worse - WSJ
The U.S. and China are moving closer to settling their fight over tariffs, but data on the state of global trade is worsening, which is a bad sign for markets.
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The Fed makes a move in the right direction | Financial Times
The US Federal Reserve chair Jay Powell has been accused, with some justification, of inconsistent and confusing communication over the past few months. But when the Fed’s open market committee met this week, the message that emerged was loud and clear. The central bank’s view of the global economy and its effect on inflationary pressures in the US had taken a notable turn towards the darker side.
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Apple Exerts Power as Privacy Protector
Apple Inc. AAPL 0.05% is flexing its power as a self-appointed privacy protector, punishing Google and Facebook FB -0.59% Inc. over violations of its developer policies governing personal data in moves that harden battle lines over one of the technology industry’s most sensitive issues.
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Exclusive: China buys U.S. soybeans a day after trade talks - traders | Reuters
(Reuters) - Chinese state-owned firms bought at least 1 million tonnes of U.S. soybeans on Friday, a day after high-level bilateral talks yielded progress toward a trade deal and a Chinese commitment to buy more U.S. soybeans.
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week5 | 2019

week5 | 2019

Weekly Headlines
China Slowdown Hits Growth Around the Globe - WSJ
China’s slowing economy is sending shock waves through its trading partners around the world.
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U.S. Stocks Post Best January in 30 Years
Banks and smaller companies propelled stocks to their best January in 30 years, a sign that investors are favoring sectors tied to the U.S. economy.
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Trump Gives Upbeat Assessment of Trade Talks With China - WSJ
WASHINGTON—The U.S. and China moved closer to settling their trade dispute, with President Trump saying he expects to meet again with Chinese President Xi Jinping to resolve the conflict that has rattled the global economy.
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Fed Signals Hold on Rate Increases - WSJ
WASHINGTON—The Federal Reserve indicated Wednesday that it was done raising interest rates for now, fueling a market rally.
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China’s Manufacturing Remains Listless, if Slightly Improved - WSJ
BEIJING—An official gauge of China’s factory activity remained weak in January, if slightly improved, with soft domestic demand dragging down Beijing’s efforts to arrest an economic slowdown.
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What Can the U.S. Sell China? Services - WSJ
WASHINGTON—As negotiators meet this week to hammer out a new U.S.-China trade deal, the Trump administration’s team will be pushing to slash the U.S. trade deficit with China, now running at about $350 billion annually.
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U.S.-China Trade Talks Won’t Be Affected by Huawei Charges, Says Treasury Secretary Steven Mnuchin - WSJ
Treasury Secretary Steven Mnuchin said Tuesday a sweeping set of criminal charges against China’s Huawei Technologies Co. unsealed Monday will not complicate U.S.-China trade talks set to resume in Washington this week.
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Apple’s Revenue and Profit Drop: ‘The iPhone Has Matured’ - WSJ
Apple Inc. AAPL -1.04% posted its first holiday-quarter decline in revenue and profit in over a decade and warned the slowdown in its core iPhone business and weakness in China has spilled into this year.
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As China Trade Talks Begin, Trump Faces Pressure to Make a Deal - WSJ
WASHINGTON—As the U.S. and China resume high-level trade talks Wednesday, President Trump sees himself with the upper hand given China’s lagging economic growth, but there is pressure for Mr. Trump and his administration to cut a deal too.
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S&P Wins Beijing’s Approval to Offer Credit-Rating Services in China
BEIJING—​China’s central bank gave approval for S&P Global Inc. SPGI -0.61% to begin offering credit-rating services, and to do so via a wholly owned unit, following up on a nearly two-year-old promise to open the sector just ahead of high-level trade talks with the U.S.
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Apple Bug Enables Eavesdropping on FaceTime Users - WSJ
Apple Inc. AAPL -0.93% scrambled to fix a bug in its FaceTime video-chat system that lets callers eavesdrop on users of iPhones, iPads, and Macs, an embarrassing setback for a company that has touted its commitment to privacy.
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Big Divides Remain as U.S.-China Trade Talks Resume - WSJ
WASHINGTON—Cabinet-level delegations from the U.S. and China will resume trade negotiations here Wednesday, but early indications are that the two sides remain sharply divided, suggesting a hard slog ahead for a deal to be cut before a March 1 deadline.
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Canadian Ambassador to China Fired After Controversial Comments - WSJ
OTTAWA—Canadian Prime Minister Justin Trudeau fired the country’s ambassador to China after he sparked an uproar by saying a senior Huawei Technologies Co. executive arrested at U.S. request had a good case to fight extradition.
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Fed Officials Weigh Earlier-Than-Expected End to Bond Portfolio Runoff - WSJ
Federal Reserve officials are close to deciding they will maintain a larger portfolio of Treasury securities than they’d expected when they began shrinking those holdings two years ago, putting an end to the central bank’s portfolio wind-down closer into sight.
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Trade Talks Spotlight Role of China’s State-Owned Firms - WSJ
When U.S. and Chinese trade negotiators start a new round of talks on Wednesday, one often-overlooked issue is bound to get a lot of U.S. attention: the role of China’s state-owned companies in its economy.
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week4 | 2019

week4 | 2019

Weekly Headlines
China Counters Selloff by Cutting Markets Some Slack - WSJ
SHANGHAI—Beijing has taken some steps to loosen its hold on financial markets in recent months, seeking to attract foreign capital and revive an anemic stock market.
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Shutdown Talks Revived After Senate Bills Fail
Rival proposals to end the partial government shutdown failed in the Senate on Thursday, prolonging the impasse that has stymied Washington for weeks but reigniting negotiations between the White House and Capitol Hill over a short-term fix that includes border-security funding.
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Huawei Brushes Off Western Concerns as It Unveils 5G Chipset
Huawei Technologies Co. unveiled a chipset for its coming folding smartphone and other 5G devices, as the Chinese giant pushes to be a global leader in the next-generation technology despite a growing backlash from Western governments.
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China Risks Real Hard Landing This Time
China’s economy is at risk of its long-feared “hard landing”—a rapid slowdown in growth that would hit employment hard and could trigger big problems in global debt and currency markets.
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Merck, Tencent to collaborate on China healthcare - MarketWatch
Merck KGaA (MRK.XE) said Wednesday that it has signed a strategic collaboration agreement with Tencent Holdings Ltd. (0700.HK) to develop digital healthcare services in China.
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The Global Boom, Barely Begun, May Be Over - WSJ
DAVOS, Switzerland—A year ago the world looked like it would finally return to the boom times it enjoyed before the global financial crisis. Now, the boom may be over before it even started.
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Executives in Davos Put Brave Face on Jittery Mood
World Economic Forum backdrop dominated by who wasn’t at the annual gathering of the global elite
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Foxconn Looks Beyond China to India for iPhone Assembly
Senior executives plan to visit India in February to discuss plans
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US turns down China offer of preparatory trade talks | Financial Times
The Trump administration rejected an offer by two Chinese vice-ministers to travel to the US this week for preparatory trade talks because of a lack of progress on two key issues, highlighting the difficulty that Washington and Beijing will face in trying to reach an agreement by a deadline of March 1.
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Google Fined $57 Million in Biggest Penalty Yet Under New European Law - WSJ
A French regulator fined Alphabet Inc.’s GOOGL 0.74% Google €50 million ($56.8 million)—the biggest penalty so far under a new European privacy law—alleging the search-engine giant didn’t go far enough getting valid user consent to gather data for targeted advertising.
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Apple Supplier in Japan Looks to Taiwan for Bailout After iPhone XR Letdown - WSJ
TOKYO—The disappointing performance of Apple Inc.’s AAPL 0.62% iPhone XR is rippling through the global supply chain, leading a major Japanese supplier for the model to seek a bailout from an investor group from China and Taiwan.
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The World Braces for Slower Growth - WSJ
Get ready for chapter three in a shifting global growth story.
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week3 | 2019

week3 | 2019

Weekly Headlines
Chinese Vice-Premier Liu He to hold trade talks in Washington on January 30-31 | South China Morning Post
Liu will hold two days of meetings on January 30 and 31 with US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer, commerce ministry spokesman Gao Feng said at a press briefing.
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U.S. Debates Lifting China Tariffs to Hasten Trade Deal, Calm Markets - WSJ
U.S. officials are debating ratcheting back tariffs on Chinese imports as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies.
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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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