USA

<strong>China flooding international markets with cheap goods</strong>
29Apr mmBy Mike TrudellNo Comments
China, USA

China flooding international markets with cheap goods

 With tension between China and the US far from tapering off anytime soon, it is in trade and economic areas where Beijing’s activities appear to have further hit panic button in Washington DC as Secretary of State Antony Blinken, during his April 24-26 visit to East Asian country, raised his concern on dumping of Chinese products, including steel and Aluminium in the American market. US State Department Spokesperson Matthew Miller was quoted by Reuters as saying that at a meeting with Chinese top officials, Blinken raised “concerns” about China’s trade policies and non-economic practices. This is the second time in a month when a senior official of the Joe Biden administration put the issue-related to dumping- on the table before Chinese authorities. Earlier, US Trea...
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Bypassing Barriers: China’s clever use of Mexico to penetrate U.S. markets
26Apr mmBy Joe RodriguezNo Comments
Asia, Market, USA, World

Bypassing Barriers: China’s clever use of Mexico to penetrate U.S. markets

China operates with a singular objective: to maximize profits, employing any means necessary. Recently, we have witnessed escalating tensions between the United States and China over trade relations. This conflict has significantly impacted the American market, prompting the U.S. government to impose substantial tariffs on Chinese goods imported into the country. However, China has ingeniously devised a strategy to circumvent these hefty tariffs while simultaneously reducing shipment costs. Chinese companies utilize Mexico as a back door to enter the US amid the ongoing trade war with the US. Many Chinese firms have moved to industrial parks in northern Mexico over the past few years to get closer to the American Market. Market Manoa Furniture in Monterrey producing recliners and plush...
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How the global economy is being affected by the strong US currency
18Apr mmBy Michael SmithNo Comments
USA

How the global economy is being affected by the strong US currency

With the world's finance ministers gathered in Washington this week, one topic is coming up over and over: A surge in the value of the U.S. dollar against most other major currencies is making life complicated for economic policymakers around the world. Why it matters: The flip side of the stronger dollar is weakening in other major currencies, which tends to fuel inflation in countries that have already been struggling to bring price pressures down. It also makes dollar-denominated debts overseas — especially common in emerging markets — more onerous, essentially throttling economic activity. It creates hard questions in some countries about whether to intervene to prop up their currency in hopes of arresting capital outflows, as Indonesia did this week. The big p...
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The US economy is strong, according to the IMF, but rising debt poses financial risks.
16Apr mmBy Mike TrudellNo Comments
USA

The US economy is strong, according to the IMF, but rising debt poses financial risks.

The U.S. economy has grown faster than other developed countries in the wake of the COVID-19 pandemic, partly due to its policy of deficit spending, the IMF says.The financial arm of the United Nations credited the U.S. with powering the global economy while warning that the national debt poses financial risks both in the short and long term.The national debt has grown in recent years because spending on COVID-19 stimulus and infrastructure has been funded by debt instead of new taxes.The U.S. economy has led the world in recovering from the COVID-19 pandemic—but that performance is largely due to heavy government spending that may be unsustainable in the face of mounting debt, according to the International Monetary Fund. The financial arm of the United Nations leveled the criticism o...
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IMF improves its growth estimate for the “overheated” US economy and advises against cutting interest rates.
16Apr mmBy Joe RodriguezNo Comments
USA

IMF improves its growth estimate for the “overheated” US economy and advises against cutting interest rates.

LondonCNN —  The US economy’s standout performance will be a major driver of global growth this year but could make America’s inflation problem harder to solve, according to the International Monetary Fund. The IMF upgraded Tuesday its forecast for US economic growth to 2.7% this year — 0.6 percentage points higher than it predicted as recently as January. The move highlights how the United States is outpacing other advanced economies, notably the European economy, which has struggled to regain momentum after the pandemic, with high interest rates and the lingering effects of earlier rises in energy costs weighing on activity. The Washington-based IMF expects the 20 countries that use the euro to grow just 0.8% this year, a downgrade of 0.1 percen...
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America’s $35 trillion debt makes it the country’s greatest enemy, not China or Russia.
11Apr mmBy Michael SmithNo Comments
USA

America’s $35 trillion debt makes it the country’s greatest enemy, not China or Russia.

With a $1.6 trillion deficit this year, $35 trillion in overall debt, and $1 trillion in interest payments this year, if the U.S. dollar is no longer the primary global reserve currency and there is suddenly a true rival to the U.S. currency, then the entire American financial system comes crashing down. by Brandon J. WeichertIn the 2012 film Prometheus, a prequel to Ridley Scott’s 1979 hit Alien, one of the lead characters, Michael Fassbender, looks upon an embryo of the iconic monster and quips, “Big things have small beginnings.” One could say the same thing about the rising economic and financial trading bloc, loosely known as the BRICS bloc. BRICS is short for “Brazil, Russia, India, China, and South Africa.” The term can find its roots in a 2001 Goldman Sachs report about t...
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<strong>Dumping and security threat makes Europe, US wary of Chinese electric vehicle</strong>
20Mar mmBy Joe RodriguezNo Comments
China, Market, USA

Dumping and security threat makes Europe, US wary of Chinese electric vehicle

The potential dumping of cheaper China-made electric vehicles has raised concerns among major Western countries, urging them to seek preventive measures to protect local markets as well as thwart security risks these cars pose. Several countries have voiced their opposition to permitting Chinese EVs until their concerns are resolved. Recently, the UK hinted at banning Chinese EV cars over the allegations of unfair state support. British transport secretary Mark Harper said the government will ensure that “We have fair international trade, and that we don’t have dumping or unfair subsidy. The important thing is it’s a fair, competitive landscape.”[1] European Union had last year launched an investigation and contemplated punitive action to protect domestic industry from cheaper Chine...
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The US fashion industry wants to better target items made using Uyghur slave labor.
15Jan mmBy Mike TrudellNo Comments
USA, World

The US fashion industry wants to better target items made using Uyghur slave labor.

The US fashion industry continues to develop a joint approach with the US government to focus on high-risk trade from Uyghur forced labour without stopping legitimate trade. The United States Fashion Industry Association (USFIA) president Julia Hughes said the US hearing on the enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) was a positive step towards improving the understanding about UFLPA enforcement strategies and how the private sector is a partner in those efforts. She added that she appreciates the Subcommittee, and the US Congress wants to ensure the enforcement of the UFLPA is targeted and effective and fashion brands and retailers are also committed to ensuring forced labour is eliminated from the supply chain. She stated: “We will continue to work with Co...
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Nawaz Sharif: We are to blame for Pakistan’s economic predicament, not the US or India.
20Dec mmBy Mike TrudellNo Comments
Asia, USA, World

Nawaz Sharif: We are to blame for Pakistan’s economic predicament, not the US or India.

Pakistan’s former Prime Minister Nawaz Sharif on Tuesday said neither India nor the US were behind the cash-strapped country's miseries but "we shot ourselves in our own foot", indirectly referring to the powerful military establishment for its woes. During a conversation with Pakistan Muslim League-Nawaz (PML-N) ticket aspirants, the party supremo, who is eying to become Prime Minister for a record fourth time, pointed out that he was ousted from power three times, in 1993, 1999 and 2017. "Today, where Pakistan has reached (in terms of the state of the economy), this is not done by India, the US, or even Afghanistan. In fact, we shot ourselves in our own foot… they (a reference to the military) imposed a selected (government) on this nation by rigging the 2018 polls that led to the...
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Geopolitics and climate finance: The US-China relationship
28Nov mmBy Mike TrudellNo Comments
China, USA

Geopolitics and climate finance: The US-China relationship

Climate action is caught in the increasingly volatile push-and-pull between cooperative global governance and great power competition, a fraught dynamic readily apparent in relations between China and the United States. China–US bilateral relations are widely acknowledged as a keystone for international efforts to address climate change. But the actions that both countries put forward to address climatic changes ‘indifferent to geopolitical rivalries’ are inevitably impacted by that very rivalry. There is, of course, optimism over the more constructive climate relations that the two have demonstrated since the resumption of formal China–US climate diplomacy this summer, after an 11-month halt following US House Speaker Nancy Pelosi’s visit to Taiwan in August 2022. But the hiatus itself a...
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