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China - an economic snapshot: tmsnrt.rs/2lQ48De. After a strong start to the year, growth in the world’s second-largest economy cooled slightly in the second quarter, partly hit by the government’s years-long efforts to tackle debt risks. China’s imports rose 27.3 percent year-on-year in July, in a sign domestic demand remains solid, but the worry is that the escalating Sino-U.S. trade war, rising corporate bankruptcies, and a steep decline in the yuan could put a significant dent on the economy.
The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more “active” fiscal policy, World financial markets have taken a battering in recent months university of virginia sterling silver cufflinks as fears grow that Trump’s “America First” policies could derail a global economic revival, Several large American companies have said they would adjust their supply chains to source outside of China if tariffs on Chinese goods impacted them, while China’s Haier Group (1169.HK) said rising steel prices amid hefty U.S, import tariffs was driving up costs for its business in America..
In a sign there may be more difficulties ahead, a private survey last week found that the business outlook among Chinese services firms was the second-weakest on record in July in part due worries about the trade war. China has repeatedly warned it will strike back against any further punitive measures by Trump, saying the United States is threatening the global free trade order with its protectionism. Chinese state media, reflecting the government’s stance, has said China will not be cowed in the face of U.S. threats.
The latest commentary from state media on Wednesday took a softer line after resorting to personal attacks against Trump earlier in the week, saying China could get through the storm but refrained from directly mentioning the U.S, president, All China’s main state newspapers published a lengthy commentary by the official Xinhua news agency, entitled “declaration”, on their front pages, “Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around,” university of virginia sterling silver cufflinks the commentary said..
“Although this may for a moment bring preening with delight, it will make it hard to resolve economic imbalances or out of kilter politics and other deep-rooted problems,” it said. China has not yet given a date for its previously announced retaliatory tariffs on $16 billion in U.S. goods, which will target commodities such as crude oil, natural gas, coal and some refined oil products. The latest $16 billion list from the United States will hit semiconductors from China, even though many of the basic chips in these products originate from the United States, Taiwan or South Korea.
John Neuffer, president and CEO of the Semiconductor Industry Association, said in a statement they were disappointed and puzzled why semiconductors remain on the final tariff list, “We have made the case to the Administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America’s chipmakers, not university of virginia sterling silver cufflinks China’s, and will do nothing to stop China’s problematic and discriminatory trade practices,” he said, (This version of the story corrects paragraph 3 to refer to “fuel” rather than “oil”)..
MOSCOW (Reuters) - The rouble slid towards its lowest level in nearly two years on Wednesday and investors sold off bonds and stocks after the Kommersant daily published what it said was the full text of a draft U.S. law detailing possible penalties against Russia. Republican and Democratic U.S. senators introduced the draft legislation last week, the latest effort by lawmakers to punish Moscow for its alleged interference in U.S. elections and its activities in Syria and Ukraine. Republican Senator Lindsey Graham, one of the measure’s lead sponsors, called it “the sanctions bill from hell.”.
Russian market reaction was muted at the time, however, and jitters only set in on Wednesday after Kommersant's publication of university of virginia sterling silver cufflinks the sanctions document here which cited potential curbs on the operations of several state-owned Russian banks in the United States and restrictions on holding Russian sovereign debt, The rouble weakened beyond the psychological thresholds of 65 versus the dollar and 75 against the euro, briefly touching levels against the dollar last seen in April and within a few kopecks of a low last seen in November 2016..
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