Föhrenbergkreis Finanzwirtschaft

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Archive for 19. Oktober 2018

China Growth Slows to 6.5%; Financial Mandarins Scramble to Soothe Investors

Posted by hkarner - 19. Oktober 2018

Date: 19-10-2018
Source: The Wall Street Journal

Growth figure is the lowest since first quarter of 2009

BEIJING—China’s economic expansion slowed to its weakest pace since the financial crisis, as top financial regulators launched an extraordinary coordinated effort to calm jittery investors.

The rate of growth in the third quarter dropped to 6.5%, falling short of market expectations, official statistics released Friday showed. Growth in industrial output and consumption weakened in the quarter, while exports held up despite the country’s bruising trade fight with the U.S.

Shortly before the data was released, People’s Bank of China Gov. Yi Gang, banking and insurance regulatory chief Guo Shuqing and top securities cop Liu Shiyu all issued statements urging investors to remain calm. Mr. Guo said recent “abnormal fluctuations” in Chinese stock markets don’t reflect the country’s economic fundamentals and “stable financial system.” The Shanghai Composite Index—the worst performer among global benchmarks—has declined 25% so far this year. It fell as much as 1.1% after opening Friday, but rebounded in late morning trading. Den Rest des Beitrags lesen »

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China v America: The end of engagement

Posted by hkarner - 19. Oktober 2018

Date: 18-10-2018
Source: The Economist

How the world’s two superpowers have become rivals

For the past quarter century America’s approach to China has been founded on a belief in convergence. Political and economic integration would not just make China wealthier, they would also make it more liberal, pluralistic and democratic. There were crises, such as a face-off in the Taiwan Strait in 1996 or the downing of a spy-plane in 2001. But America cleaved to the conviction that, with the right incentives, China would eventually join the world order as a “responsible stakeholder”.

Today convergence is dead. America has come to see China as a strategic rival—a malevolent actor and a rule-breaker. The Trump administration accuses it of interfering in America’s culture and politics, of stealing intellectual property and trading unfairly, and of seeking not just leadership in Asia, but also global dominance. It condemns China’s record on human rights at home and an aggressive expansion abroad. This month Mike Pence, the vice-president, warned that China was engaged in a “whole-of-government” offensive. His speech sounded ominously like an early bugle-call in a new cold war. Den Rest des Beitrags lesen »

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EU leaders ready to help May sell Brexit deal to parliament

Posted by hkarner - 19. Oktober 2018

Date: 19-10-2018
Source: The Guardian

PM will receive backing to build ‘coalition of the reasonable’ in desperate bid to avoid no deal

Angela Merkel, left, and Emmanuel Macron. The German chancellor stressed that the EU had to pursue “all avenues” to find a deal that can get through the Commons.

EU leaders are preparing to back Theresa May in building a “coalition of the reasonable” in the UK parliament, in a desperate bid to avoid a no-deal Brexit.

Following what has been described by diplomats as a “call for help” by the prime minister at a crunch summit in Brussels, the German chancellor, Angela Merkel, stressed that the EU had to pursue “all avenues” to find a deal that can get through the Commons.“I think where there is a will there is a way,” she said.

Jean-Claude Juncker, the European commission president, said: “It will be done.” He is understood to have told EU leaders that May needed “help” to sell a deal in parliament.

While ruling out major concessions, Emmanuel Macron, the French president, said it was clear that the roadblock to a deal did not lie in Brussels. Den Rest des Beitrags lesen »

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