With both the United States and China playing indispensable roles in ensuring peace and stability, and addressing global problems, Singapore hopes the two major powers would be able to find areas of cooperation amid competition, Deputy Prime Minister Heng Swee Keat said yesterday. He called such a relationship "coopetition", saying: "Competition can be constructive if managed well as it can spur innovation and drive progress." But it could also become disruptive if it degenerates into conflict and rivalry, he said. "We hope that China and the US can develop a relationship based on 'coopetition', and be able to cooperate in mutually beneficial areas while competing," he said, addressing US-China trade tensions at the China Executive Leadership Academy Pudong (Celap) in Shanghai. Hostilities between the world's two biggest economies have ratcheted up since trade talks between them broke down in Washington earlier this month. Both sides have imposed heightened tariffs on billions of … [Read more...] about US, China urged to find areas of cooperation amid competition
Us china trade talks today
The big economic news today is the failure of the US and China to end the trade war with an agreement. While initially there was widespread optimism about a deal in the works last week, a rude awakening came. Assessing the sudden turn in negotiating the issues, President Trump warned that he would raise tariffs on Chinese imports from 10 percent to 25 percent if a deal did not go through. No agreement, not yet. On Friday last week, the tariff increases threatened by Trump were put into effect, signaling the failure of an agreement. On Monday this week, China responded with counter-measures. In spite of the current escalation of the trade war, the failure to conclude a deal last week still ended on a conciliatory tone. President Trump emphasized that President Xi of China and he have a good relationship even as he ordered more hearings on a further increase of punitive tariffs on a wider range of goods amounting to $300 billion from China. The head of the Chinese negotiating team, … [Read more...] about ‘The worsening US-China trade war’
THE US-CHINA TRADE IMPASSE The deadlock is not about to be resolved any time soon. We have not heard all that much from the Chinese government directly but editorials from Chinese media are now giving us a sense of the way Beijing is viewing the current impasse. The People’s Daily wrote that “at no time will China forfeit the country's respect” while The Global Times said “the perception that China cannot bear it (a trade war) is a fantasy and misjudgment”. So what? That the debate is now being framed, not in purely economic terms, but in terms of respect and dignity will make a deal that much harder to reach. There is very little room when one is negotiating with dignity on the line. Trade talks have come back from the brink before, but given the perception of Beijing in Washington is worsening, and vice versa, few are predicting a rapid end to the trade war. What if talks fail: Expect a significant fallout that will impact the global economy. The … [Read more...] about Asian Insider May 13: What if trade talks fail?
HONG KONG: Asian markets once again fell into the red today as investors anxiously await the start of high-stakes trade talks between China and the United States. After several rounds of negotiations, the two-day meeting in Washington, which kicked off later in the day, has taken on huge significance after Donald Trump threatened to ramp up tariffs on Chinese goods from Friday blaming backsliding by Beijing. The US president’s remarks on Sunday battered global equities and fuelled fears the economic superpowers – who appeared just last week to be nearing a deal – could become entangled in a brutal trade war with worldwide consequences. While Trump has looked to soothe concerns – telling a rally on Wednesday that “whatever happens, don’t worry about it. It will work out. It always does” – investors are on edge. China, for its part, said an escalation was “not in the interests of the two countries’ people” but warned it … [Read more...] about Asian stocks sink again ahead of crucial US-China trade talks
US-China trade fears drag PSEi back to 7,800SHARE prices fell back to the 7,800 territory on Monday, joining a regional decline, as renewed fears over the US-China trade talks sparked selloffs among investors. The benchmark Philippine Stock Exchange index (PSEi) dropped by 1.33 percent or 105.68 points to close at 7,862.30. The broader All Shares, meanwhile, declined by 0.94 percent or 46.20 points to finish at 4,859.86. “The trade talk at risk of a collapse and the heightening of geopolitical risk headlined today’s (Monday) market selloff,” Regina Capital Development Corp. head of sales Luis Limlingan said. On Sunday, US President Donald Trump threatened to more than double tariffs on $200-billion worth Chinese goods and introduce a new round of duties after reports that Chinese negotiators were reluctant to seal an agreement with Washington. Chinese representatives were scheduled to head to Washington this week for what could be the final round of talks, but … [Read more...] about US-China trade fears drag PSEi back to 7,800