China appealed the World Trade Organization's finding in July that its export controls over raw materials including coke, zinc and magnesium violate global trading rules.
US Vice President Joe Biden rejected views that US power is waning and said Washington would never default, wrapping up a China visit that has played down tensions between the world's two biggest economies. He also anticipated 2012 was a ‘transition year” both for the US and China
Plans by McDonald’s Corporation to expand its store network in China could spell good news for Australia’s beef producers, according to the Aussie press.
China, the second-largest buyer of soy in the world wants an end to intermediation by US multinational companies working in the sector and plans to invest purchasing directly from farmers in Mato Grosso and another five states in Brazil, according to the Brazilian press.
The World Bank's chief economist for Latin America and the Caribbean said Monday that the bank is maintaining its 2011 outlook for the region's economic growth at about 4.5% despite concerns of a new global crisis.
The United States said Wednesday it would like China to explain why it needs an aircraft carrier amid broader US concerns about Beijing's lack of transparency over its military aims.
China’s trade surplus surged to 31.5 billion dollars in July, the highest level in more than two years, as exports rose to a record. Exports climbed 20.4% from a year earlier while imports surged 22.9%, the Customs bureau said on its website Wednesday.
Inflation in China was higher than expected in July, despite a series of efforts by the government to rein in prices. Consumer prices in July rose 6.5% compared with the same month last year, the National Bureau of Statistics said.
Beijing bluntly criticized the United States after the superpower's credit rating was downgraded, saying the good old days of borrowing were over. S&P cut the US long-term credit rating from top-tier AAA by a notch to AA-plus on yesterday, over concerns about the nation's budget deficits and climbing debt burden.
China's Foreign Minister called on Friday for more global cooperation to resolve US and Euro area debt problems as stock markets around the world tumbled on fears another financial storm may be developing.