Your Daily Scan of the New Global Economy

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China
Savvy New York Alibaba traders bagging profits through a temporary arbitrage opportunity It’s an opportunity that will not last, but savvy traders holding US-listed Alibaba stock certificates have been bagging profits by capitalising on shares costing more in Hong Kong.The manoeuvre is known as arbitraging, in which a trader makes a profit on securities selling...
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A stock market correction – long overdue – will tip the global economy into a perfect storm Leading stock markets may finally be connecting with the real economy after a long period of in-denial euphoria. Even before United States President Donald Trump signalled that trade wars may persist (only to be refuted by rumours of...
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The US will regret breaking WTO’s dispute settlement mechanism Just when you think things could not possibly get any worse, it does. After a fractious Nato week in London, and a deluge of gloom from the Madrid climate summit, we have tumbled into a week that embraces the launch of impeachment proceedings against a president...
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Will the trade war lead to US-China decoupling? In an increasingly interconnected world, that would be next to impossible In a world of rising unilateralism and anti-globalism sentiment, talk of decoupling is occurring more frequently across economic and political spheres, especially in the context of the trade tensions between China and the United States. There...
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China poised to name another technocrat to helm top lender with focus on greasing growth engine China is set to appoint another heavyweight financial technocrat to one of its state-controlled lenders in a move seen at greasing the nation’s growth engine after a year of economic slump. Wang Jiang, who is the deputy governor of...
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Chemical companies going round in circles Covestro China, an arm of the German specialty chemical company, is turning carbon dioxide from a climate villain into an environmental plus in reducing dependence on fossil fuels. In the not too distant future, you may sleep on a mattress made from carbon dioxide, not petroleum-based plastic, according to...
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Cosmetic giant Shiseido gambles on ‘Made in Japan’ On wasteland once used for earthquake drills in the small town of Otawara north of Tokyo, Japanese giant Shiseido has built its first domestic factory in 36 years, hoping to capitalise on a boom for “Made in Japan” cosmetics.The Japanese cosmetics industry faces huge competition not only...
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Tariffs must go for phase 1 agreement CHINA’S Ministry of Commerce said yesterday that if China and the US reach a phase one trade agreement, the tariffs should be reduced. Both sides are maintaining close communication, ministry spokesperson Gao Feng told reporters. Moreover, China’s foreign ministry spokesperson Hua Chunying said that China’s stance has always...
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Huawei files lawsuit over US ban on rural carriers to buy its products CHINESE tech giant Huawei is asking a US federal court to throw out a rule that bars rural phone carriers from using government subsidies to purchase its equipment on security grounds. The lawsuit announced yesterday is Huawei’s second legal challenge this year...
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Portugal defiant PORTUGUESE officials have told US Secretary of State Mike Pompeo they won’t exclude Chinese companies from competing in a tender for the next-generation 5G wireless network. It is the latest move by a European Union country resisting US efforts to persuade allies they should shun Huawei’s bids for 5G contracts. Pompeo warned yesterday...
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