China's Xi Jinping and Russia's Vladimir Putin hit back at US global economic dominance on Friday as they took the stage together at Russia's showcase business forum.1 comment
The growth of the Gross Domestic Product (GDP) in China stabilized 6.4% year-on-year in the first quarter of 2019, despite falling global demand and the trade war with the United States. The figure was announced on Wednesday by the National Bureau of Statistics (BNS), along with other rather optimistic indicators on the health of the world's second largest economy.
United States president Donald Trump is sending a clear message to the economic policymakers gathering in Washington for the IMF and World Bank's spring meetings: My trade wars aren't finished yet and a weakening global economy will just have to deal with it.
China on Tuesday said it would push further to open its economy and deepen ties with the EU, which has grown increasingly wary of Beijing's influence in Europe. EU Council president Donald Tusk hailed Beijing's new commitments at an EU-China summit in Brussels as a breakthrough with both sides committed to globalization and pursuing international rules.
Chinese President Xi Jinping will travel to Italy, Monaco and France this week, the foreign ministry said on Monday, with Rome expected to join his global trade infrastructure program despite reservations in other European countries.
Pressure is growing on global commodity trading firms with strong ties to Switzerland for their alleged involvement in the “Car Wash” corruption scandal in Brazil. The US Federal Bureau of Investigation is investigating two Vitol executives in the Americas, according to Reuters news agency.
Argentina, Costa Rica, Japan and the European Union are supporting a U.S. drive to enforce greater transparency and discipline at the World Trade Organization, an updated proposal published by the WTO showed on Friday.
United States Justice Department said on Wednesday it had arrested and indicted a spy for China’s Ministry of State Security on charges of economic espionage and attempting to steal trade secrets from several U.S. aviation and aerospace companies.
Canada has not invited the United States or China to a high-level meeting on reforming the World Trade Organization (WTO). The country will host a small group of like-minded trade ministers in Ottawa in late October to discuss the global trade body. Officials say countries like the US and China will be included at a later date in the reforms discussion process.
Global index compiler MSCI is considering including Argentina and Saudi Arabia in its emerging market indexes at a review of its widely-tracked benchmark on Wednesday, and could potentially announce candidates that may join its indexes in future.