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Posts Tagged ‘china’

Voestalpine-Chef: USA sitzen gegenüber China auf längerem Ast

Posted by hkarner - 11. Dezember 2018

Die USA haben mehr Hebel, sagte Wolfgang Eder. Der Welthandel sei derzeit in Richtung „Merkantilismus“ unterwegs – jeder Staat mache wieder, was er will.

Das grob unkonventionelle Ausscheren des US-Präsidenten Donald Trump von den über Jahrzehnte etablierten Regeln im Welthandelssystem „führt zu massiven Veränderungen in den internationalen Handelsströmen“, stellte Wolfgang Eder, Chef des oberösterreichischen Stahlkonzerns voestalpine,  am Montag vor Journalisten fest. Die EU mache sich im internationalen Handelsstreit „kleiner und schwächer als sie ist“.

„Würde man sich international als ‚EU‘ verkaufen, wären wir der potenteste Wirtschaftspartner der Welt“, meinte Eder und kritisierte damit Vorstöße einzelner EU-Mitgliedstaaten, sich mit Trump bilateral zu arrangieren.

Die USA führten per 1. Juni 2018 einen Sonderzoll von 25 Prozent auf Stahl sowie von zehn Prozent auf Aluminium ein. In der globalen Stahlindustrie sei es dadurch bereits zu Umlenkungseffekten zulasten Europas gekommen: „Europa hat fast fünf Millionen Tonnen Stahl verloren, die USA haben 2,3 Millionen Tonnen gewonnen“, erklärte Eder und verglich dabei die heurige Entwicklung gegenüber 2017. Mittlerweile seien nicht nur Stahl und Aluminium betroffen, sondern auch landwirtschaftliche Produkte bis hin zu Diskussionen um die Autoindustrie. „Eine ganze Reihe von Staaten klagt vor der WTO (Welthandelsorganisation, Anm.), wenn ein Land einseitig versucht, den Welthandels zu dominieren“, sagte der voestalpine-Chef. Den Rest des Beitrags lesen »

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The Phony US-China Truce

Posted by hkarner - 10. Dezember 2018

Barry Eichengreen is Professor of Economics at the University of California, Berkeley, and a former senior policy adviser at the International Monetary Fund. His latest book is The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era.

There is no shortage of precedents for the approach to the escalating trade dispute taken by Donald Trump and Xi Jinping. But if the US economy shows signs of falling into recession, Trump will need to blame someone – and in this case, we can be relatively certain about who that will be.

BEIJING – On December 1 in Buenos Aires, US President Donald Trump and his Chinese counterpart, Xi Jinping, agreed on a 90-day moratorium on increases in import tariffs to provide a window for negotiations. Unfortunately, this approach to mediation does not always succeed, and investors were not impressed – as was evident in the 800-point fall in the Dow Jones Industrial Average on December 4. And if markets were skeptical then, they will be even more skeptical now, with the arrest of Huawei Chief Financial Officer Meng Wanzhou for violating US sanctions on Iran.

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US and China: From Co-Evolution to Decoupling

Posted by hkarner - 9. Dezember 2018

Date: 08-12-2018
Source: YaleGlobal by Vincent Ni

Henry Kissinger secretly visited China in 1971 to restore US ties, and the Chinese have respected him since. With a trade war underway and US concerns about intellectual property theft, the relationship has soured and transformed: from co-evolution, described by Kissinger as pursuit of domestic imperatives and cooperating as possible to decoupling. “The parochial outlook in the United States and the growing nationalism in China is heading toward disengagement,” explains Vincent Ni, journalist and 2018 Yale Greenberg World Fellow. Ni describes this as disruptive and dangerous, forcing countries to choose sides. Ni urges Chinese and US leaders to develop new rules for 21st century trade, economics and technology while finding ways to cooperate and contribute to global public goods while coexisting militarily. As Kissinger suggested in his writings, a good relationship is essential for world peace and progress even as both nations pursue their own paths of exceptionalism. – YaleGlobal

As China’s economy steadily grows, its relationship with the United States has transformed from cooperative co-evolution to decoupling Den Rest des Beitrags lesen »

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Arrest of telecom giant’s CFO escalates U.S.-China tech battle

Posted by hkarner - 8. Dezember 2018

Date: 07-12-2018
Source: The Wall Street Journal
Subject: U.S. Takes Aim at Huawei

Huawei founder Ren Zhengfei, second from left, with Chinese President Xi Jinping at the company’s London offices in 2015.

The Trump administration’s efforts to extradite the chief financial officer of China’s Huawei Technologies Co. over criminal charges mark the start of an even more aggressive phase in the technology rivalry between the U.S. and China and will increase pressure on Washington’s allies to shun the telecommunications company.

Armed with a U.S. extradition request, Canadian authorities arrested Meng Wanzhou on Dec. 1, the same day as President Trump was holding a summit with Chinese counterpart President Xi Jinping. But White House officials said Mr. Trump had no advance knowledge of the arrest, indicating the action was on a separate track from trade talks currently under way between Washington and Beijing.

Ms. Meng’s detention underscores a sense of urgency, at the Justice Department and other U.S. agencies, to address what they see as a growing threat to national security posed by China’s ambitions to gain an edge in the tech sector. For years, Washington has alleged the Chinese government could compel Huawei, which supplies much of the world with critical cellular network equipment, to spy or to disrupt communications. Den Rest des Beitrags lesen »

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The US-China trade truce: a time-out or a possible armistice?

Posted by hkarner - 7. Dezember 2018

The US-China trade truce will become a time-out or an armistice pending on China’s response regarding technology policy​

The trade truce between the United States and China, announced after the dinner of the presidents of the two countries in Buenos Aires on Saturday after the G20 meeting, must be assessed in accordance to three different motivations that can be attributed to President Trump as reasons for starting the war. Although special attention has been given to immediate implications of the truce for the global macroeconomic environment and its impact on financial markets, it is important to keep in sight what it will take to become either a short time-out or a step to armistice.

The US-China bilateral trade clash has been a crucial moment in the transition from multilateralism to bilateralism in US foreign relations since the arrival of President Trump to power. Full multilateralism faced great difficulties during the Doha round of trade negotiations, in which complex negotiation processes required unanimity for approval and were vulnerable to blockades set by a few countries. The Obama administration initiated its replacement by plurilateral negotiations, with support from the countries involved, as proposed in the Trans-Pacific Partnership and a possible later agreement with European countries. President Trump buried such an initiative and has argued there are advantages for his country to negotiate on a bilateral basis. Den Rest des Beitrags lesen »

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Sind Chinas Handelspraktiken wirklich unfair?

Posted by hkarner - 7. Dezember 2018

Daniel Gros is Director of the Brussels-based Center for European Policy Studies. He has worked for the International Monetary Fund, and served as an economic adviser to the European Commission, the European Parliament, and the French prime minister and finance minister. He is the editor of Economie Internationale and International Finance.

BRÜSSEL – Der zeitweise Waffenstillstand zwischen US-Präsident Donald Trump und seinem chinesischen Amtskollegen Xi Jinping beim gerade abgeschlossenen G20-Treffen in Buenos Aires wird beiden Seiten etwas Zeit geben, um über die betreffenden Themen nachzudenken. Und das grundlegendste dieser Themen ist die Frage, ob die amerikanischen Vorwürfe gegenüber China – die auch von vielen anderen Industrieländern geteilt werden – eigentlich gerechtfertigt sind.

Natürlich sind unilaterale US-Maßnahmen im Rahmen der weltweiten Handelsregeln nicht vertretbar. Haben die Industrieländer – die bereits eine informelle Kontaktgruppe von „Chinaverlierern“ gegründet haben, zu der auch Vertreter der Europäischen Union, Japans und der Vereinigten Staaten gehören – aber recht damit, dass Chinas Handelspraktiken teilweise unfair waren, könnten Gegenmaßnahmen durchaus berechtigt sein. Den Rest des Beitrags lesen »

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China’s Alibaba Takes On Amazon in European Cloud

Posted by hkarner - 6. Dezember 2018

Date: 05-12-2018
Source: The Wall Street Journal
Subject:

Competition shows how Chinese internet firms and Silicon Valley now view Europe as a battleground

Revenue at the business more than doubled to about $2.1 billion in fiscal 2018.

Alibaba Group Holding Ltd. and Amazon.com Inc. are squaring off in Europe—and not just in e-commerce but also in the quickly growing cloud-computing market.

The Chinese company’s competition with Amazon, the world’s biggest cloud-computing player, reflects how Europe is turning into a battleground between China’s tech giants and Silicon Valley.

“Europe is very strategic for us because a lot of European countries are quite advanced markets,” said Yeming Wang, who runs Alibaba’s European cloud business.

Cloud computing is an important growth engine for Alibaba and Amazon. Amazon Web Services is one of the U.S. company’s biggest profit drivers, while revenue at the Chinese company’s cloud business more than doubled to about $2.1 billion during fiscal 2018. Den Rest des Beitrags lesen »

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Trump Team Set to Take Tough Stand in 90-Day Trade Talks With China

Posted by hkarner - 6. Dezember 2018

Date: 05-12-2018
Source: The Wall Street Journal

Bolton, at Journal’s CEO Council event, seeks law to bar imports of goods generated from intellectual property theft

Trump administration officials said they planned to take a tough stand in their 90-day trade negotiations with China or impose further tariffs, as optimism over a truce gave way to uncertainties about how the two sides could find agreement on a wide range of issues.

Having emphasized last weekend the possibilities for a wide-ranging deal, President Trump and other officials switched their focus to issues they want to see addressed and the consequences of not reaching an accord in a time frame that China initially didn’t acknowledge.

Mr. Trump, in a series of tweets Tuesday morning, said he expected to see China start buying more U.S. agricultural exports immediately, which the U.S. said had already been agreed upon in the meeting between Mr. Trump and Chinese President Xi Jinping in Buenos Aires, a commitment Beijing hasn’t commented on.

“When people or countries come in to raid the great wealth of our nation, I want them to pay for the privilege of doing so,” he said, adding: “I am a tariff man.” He also noted that the U.S.’s 90-day deadline for negotiations began last weekend. Den Rest des Beitrags lesen »

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The US-China trade war is on hold

Posted by hkarner - 4. Dezember 2018

Date: 03-12-2018
Source: The Economist

Donald Trump and Xi Jinping agree a fragile truce at the G20 summit

PERHAPS IT was the dessert of caramel-rolled pancakes, crispy chocolate and fresh cream. Or perhaps President Donald Trump had already decided that, during a working dinner on December 1st, he wanted a deal with President Xi Jinping of China. Whatever it was, after sounds of applause drifted out to assembled journalists, the two announced a “highly successful” negotiation. „This was an amazing and productive meeting with unlimited possibilities for both the United States and China,” said Mr Trump.

A more realistic assessment would be that the meeting produced a truce based on two elements: some murky mercantilism, and a deal to talk about a deal. China will increase its purchase of American farm produce, energy and some industrial goods. In exchange America will delay an escalation in tariffs, from 10% to 25% on $200bn of goods planned for January 1st. That is on hold until March 1st at the earliest. But because the formal talks between the two countries could well fail, this truce is worryingly fragile.

The Chinese commitment to raise purchases of American goods is by an amount “not yet agreed upon, but very substantial”. That is supposed to reduce America’s bilateral trade deficit with China. Requiring the Chinese government to manage import flows is odd given how America’s government complains that China still behaves like a non-market economy. Den Rest des Beitrags lesen »

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Chinas staatliche Wirtschaftsplanung – ein Vorbild für Frankreich heute?

Posted by egloetzl - 4. Dezember 2018

Neue Solidarität 48/2018

Von Karel Vereycken

Bei der Vorstellung der Studie „Neue Seidenstraße, Weltlandbrücke – für ein Ende der Geopolitik“ am 6. November in Paris hielt Karel Vereycken, Wirtschaftsberater des französischen Schiller-Instituts, den folgenden Vortrag.

Mit einer durchschnittlichen jährlichen Wachstumsrate von 10% des BIP in den letzten vier Jahrzehnten, 714 Millionen Menschen, die aus äußerster Armut gehoben wurden, dem größten Netz von Hochgeschwindigkeitsbahnen weltweit etc.

ist der Erfolg Chinas und seiner Wirtschaftspolitik eine erwiesene Tatsache und ein historischer Präzedenzfall. Und Chinas Potential wächst weiter. 2016 baute China im Schnitt jede Woche eine neue Hochschule! Die Zahl der Absolventen übertrifft die Europas und Amerikas. Obwohl China „nur“ 15% des BIP der Welt ausmacht, liefern seine Wissenschaftler schon mehr als ein Drittel aller wissenschaftlichen Artikel in Fachpublikationen. Den Rest des Beitrags lesen »

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