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IMF Slashes US Growth Outlook, Blames Rates & Trade; Sees Venezuelan Inflation 10-Million-Percent
IMF Slashes US Growth Outlook, Blames Rates & Trade; Sees Venezuelan Inflation 10-Million-Percent Confirming Director Lagarde’s warning that “clouds on the horizon have materialized,” The International Monetary Fund is downgrading its outlook for the world economy, citing rising interest rates and growing tensions over trade. The IMF said Monday that the global economy will grow […]
Beijing Eases Policy, Yuan Slides Towards 10-Year Low
Beijing Eases Policy, Yuan Slides Towards 10-Year Low On Sunday, the Bank of China cut the level of cash that banks must hold as reserves. The Yuan continued its slide. Reuters reports China Set to Reopen After Beijing Eases Policy. Shares in Asia stumbled in early trade on Monday as investors waited with bated breath […]
China Cuts Reserve Ratio, Releases 1.2 Trillion Yuan Amid Rising Trade War, Record Defaults
China Cuts Reserve Ratio, Releases 1.2 Trillion Yuan Amid Rising Trade War, Record Defaults China’s central bank announced it would cut the Required Reserve Ratio (RRR) for most banks by 1.0% effective October 15 for the fourth time in 2018, a little over three months after the PBOC announced a similar cut on June 24, […]
USMCA: New Economic Alliance Formed to Isolate China
USMCA: New Economic Alliance Formed to Isolate China The almost 25-year-old North American Free Trade Agreement (NAFTA) has been relegated to the dustbin of history. The United States, Canada, and Mexico have agreed on a trilateral trade deal — the United States-Mexico-Canada Agreement (USMCA) — to replace it. As expected, the agreement finalized on Sept. 30 is intended to stimulate production […]
JPMorgan Downgrades China Stocks, Forecasting “Full-Blown Trade War”
JPMorgan Downgrades China Stocks, Forecasting “Full-Blown Trade War” Late last week, JPMorgan’s strategist John Normand announced that the largest US bank “adopted a new baseline that assumes a US-China endgame involving 25% US tariffs on all Chinese goods in 2019” because “the US and China will not resolve their differences this year and that the […]
Chinese Imports Of US Crude Have “Totally Stopped” As Tariff Threats Persist
Chinese Imports Of US Crude Have “Totally Stopped” As Tariff Threats Persist It has been roughly two months since China threatened to impose a 25% tariff on US energy imports (it eventually went back on those threats), and less than two weeks since the latest round of tariffs has been implemented. But even as China […]
China for the Trade Win?
China for the Trade Win? Empire of Debt Debt in Pictures Wargaming the Trade War Some Thoughts on Getting Through the Great Debt Reset San Francisco, Frankfurt, and Puerto Rico? With all the trade war talk, we all ask the obvious question: Who will win? President Trump says the US will win. Chinese business leaders […]
As The Trade War Rages – China Won’t Be Held Hostage By The U.S. Dollar
As The Trade War Rages – China Won’t Be Held Hostage By The U.S. Dollar In last week’s Palisade Weekly Letter, I wrote about how the Chinese are now selling their U.S. debt. And since this was an important write-up, I also published it as an article – so if you missed it, click here. […]
China Vows Not To Negotiate Under Threat, As Trump Teases “Major Broadside” Against Beijing
China Vows Not To Negotiate Under Threat, As Trump Teases “Major Broadside” Against Beijing Investors had managed to cling on to optimism that the ‘trade skirmish’ between the US and China would reach a swift conclusion – and that the US would ultimately be better off, as China would be forced to curtail practices like […]
Global Stocks Slide As Trade War Enters New Phase; Oil Surges
Global Stocks Slide As Trade War Enters New Phase; Oil Surges U.S. stock futures followed European and Asian shares lower in thin volume after China called off planned trade talks with the U.S. and the Trump administration imposed another $200 billion in “Phase II” China tariffs just after midnight; oil jumped 2.4% as OPEC+ members […]
Can US-China trade war rivalry reverse the worst economic trends in both countries?
Can US-China trade war rivalry reverse the worst economic trends in both countries? The door for compromise and restoring a functional relationship between the United States and China appears to have closed. The 10 per cent tariffs on US$200 billion of Chinese goods, rising to 25 per cent from January 1, is the final straw. […]
