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1. CNN: Scientists discover new species of dinosaur 2. Reuters: China unveils new trade partnership with US 3. The Guardian: US and China forge new trade deal 4. BBC: Scientists uncover previously unknown species of dinosaur 5. ABC News: US and China agree to historic trade pact 6. Wall Street Journal: US and China sign landmark trade deal 7. The New York Times: US strikes new trade deal with China 8. Bloomberg: China and US sign new trade agreement 9. CNBC: Scientists find new species of dinosaur 10. Fox News: China and US ink new trade pact
Diverging Trends in Asian Markets; EUR/USD Awaits Eurozone CPI and US NFP - Action Forex
Asian financial markets are displaying significant divergence today. Japan's Nikkei index has plummeted over -4%, reacting sharply to the ruling Liberal Democratic Party's election results from last Friday. Shigeru Ishiba, the newly elected LDP leader and Japan's incoming Prime Minister, attempted to soften his previously hawkish stance on the BoJ monetary policy during a interview on Sunday. Despite these efforts, investors remain concerned about the impact of further monetary tightening on the appreciation of Japanese Yen, and the subsequent effects on the nation's export-driven economy.
Bangladesh decision to remove physical inspection of Pakistani goods may lead to export of illegal items - The Economic Times
Bangladesh's National Board of Revenue has discontinued mandatory 100% physical inspection of Pakistani imports, raising concerns about potential illegal transfers of arms and contraband. Instead, Pakistani goods will be examined based on risk assessment. Imports from Pakistan include raw materials for the garment industry, among other goods.
“Here, We Sell Local”: Collectivist or Tribal Protectionism - Econlib
That nationalism is a kind of collectivism or modern-tribalism is illustrated by a current phenomenon: foreigners seem so disliked that, in some people’s views, “we” should neither import from, nor export to, “them.” On the import side, foreigners—foreign producers or their governments or the latter’s taxpayers—are disliked because they produce goods at such a low […]
Why Sanctions Often Fail to Work - Econlib
Back in early 2022, there was a great deal of optimism that sanctions against Russia would cripple its economy. Those predictions have not come true. A recent article in The Economist shows why: Prior to 2022, Kazakhstan sold relatively little electrical machinery to Russia. After the Ukraine invasion, Kazakh exports soared more than 7-fold. How […]
The situation for car manufacturers in Europe looks set to go from bad to worse | Notayesmanseconomics's Blog
A feature of the modern era is the way that things which are predictable are so often presented as a surprise. Today will see several of our themes in play. One of them has been the way that China has been looking to export its way out of its property crisis slow down. That as…
Is China Circumventing U.S. Tariffs? - Action Forex
We have written extensively about the deterioration in the trade relationship between the U.S. and China, and how tensions between the two nations have rewired global trade patterns. Following the implementation of Trump-era tariffs, the U.S.-China trade relationship reached an inflection point, and as of the end of 2023, China's trade surplus with the United States was essentially half of what it was relative to before the trade war. However, a deeper dive into global trade flows suggests the overall U.S.-China trade relationship may not necessarily be weakening as much as data suggest. Evidence exists that China may be circumventing U.S. tariffs via proxy nations, and still benefiting from U.S. demand and the United States as a final export destination. In this report, we highlight how the composition of U.S. import partners has changed over time. We also reveal how China's export destinations have also changed, and the same countries the U.S. is importing more from, China is exporting more to.