According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 2.549 million barrels during the week ending Jan. 10, more than the market expected fall of 0.474 million barrels, implying greater demand and bullish for crude prices. … [Read more...] about Roundup: Weekly oil prices slip amid optimism on U.S.-China trade, concerns over market glut
China trade vs us trade
All of this means the US-China trade war will resume at some point down the road. Much of what the US is demanding goes right to the heart of China’s State-dominated economy. Beijing’s domestic economic structure is fundamentally not about free markets and the private sector; it is shot through with State subsidies and controls. India, itself a victim of subsidised Chinese exports, has been quietly supportive of the US’s efforts to constrain China’s predatory economic practices. It will probably hope a similar symbolic victory will be enough to bury its own, much less acute, trade difficulties with the US. But the US-China struggle’s negative impact on the World Trade Organisation’s future is a source of long-term concern. … [Read more...] about The limits of the US-China deal | HT Editorial
They agreed to hasten the implementation of the China Myanmar Economic Corridor, a giant infrastructure scheme worth billions of dollars, with agreements on railways linking south-western China to the Indian Ocean, a deep sea-port in conflict-riven Rakhine state, a special economic zone on the border and a new city project in the commercial capital of Yangon. … [Read more...] about China and Myanmar sign raft of deals as Xi Jinping courts an isolated Aung San Suu Kyi
The main focus of the agreements signed after the talks between the two leaders appeared to be on the implementation of the China Myanmar Economic Corridor (CMEC) which is akin to the USD 60 billion-dollar China-Pakistan Economic Corridor (CPEC) under which China looks to access Pakistan’s Gwadar port in the Arabian sea. … [Read more...] about Belt and Road Initiative gets major boost as China and Myanmar ink 33 deals
How was the virus identified as a coronavirus?On January 9, 2020, WHO issued a statement saying Chinese researchers have made “preliminary determination” of the virus as a novel coronavirus in a person with pneumonia. They were able to determine the virus by sequencing the genome using an isolate taken from an infected patient. WHO tweeted: “Preliminary identification of a novel virus in a short period of time is a notable achievement and demonstrates China’s increased capacity to manage new outbreaks.” … [Read more...] about What is the source of the new SARS-like disease reported in China?