As China’s yuan slips to historically weak levels against the dollar, the central bank’s atypical light touch is spurring speculation that policymakers want to be more judicious in their intervention and have no specific target for the currency.
The worsening trade war is driving the steepest sell-off in Chinese shares traded in the US since the global financial crisis.
Donald Trump’s bid to help American farmers struggling to navigate his trade war with China risks stumbling on a contentious point: market-distorting measures.
For almost four weeks, the tanker Mendeleev Prospect has been anchored idly off the Polish port of Gdansk unable to discharge a $50mn cargo of crude oil.
The increasingly fractious trade row between China and the United States was the main focus of Asian investor angst yesterday, with most markets down to extend the previous day’s steep losses, though oil edged back from a painful sell-off.
The British pound wobbled yesterday after Prime Minister Theresa May announced her resignation, while stock markets mostly rebounded as US President Donald Trump offered an “olive branch” to China in their trade war, dealers said.
It’s three years since Britain voted to leave the European Union, but the Brexit saga drags on. Departure day has been postponed twice, and what kind of divorce the UK really wants isn’t yet clear. Parliament is deadlocked, having repeatedly rejected the withdrawal agreement negotiated by Prime Mini
Theresa May’s economic legacy is dominated by the same thing that consumed her turbulent premiership: getting Britain out of the European Union.
Foreign companies in India have welcomed Prime Minister Narendra Modi’s election victory for the political stability it brings, but now they need to see him soften a protectionist stance adopted in the past year.
When he was chief minister of the Indian state of Gujarat in 2011, Narendra Modi kicked off an ambitious project to develop a financial hub in the style of Singapore or Dubai.
Beijing is committed to striking a trade deal with the US but it’s ready to respond with more counter-measures, said China’s ambassador to the US, Cui Tiankai, as he called the US blacklisting of Huawei an “unusual” act of state power against a company.