Saturday, 17 November, 2018


China's Sept Trade Surplus with US Widens to Record $34.13 Bln

Trump Chinese lived too well for too long Reuters Liau Chung-ren
Conrad Doyle | 12 October, 2018, 22:56

Later Friday, Larry Kudlow, Trump's top economic adviser, said in Washington that preparations for the talks were under way.

China posted a larger trade surplus of $31.69 billion for the month.

China's trade surplus with the United States widened to a record $34.1 billion in September as exports to the USA market rose by 13 percent over a year earlier despite a worsening tariff war.

In Bali, Indonesia, where he's attending global finance meetings, Treasury Secretary Steven Mnuchin said, "We are having discussions about a potential meeting".

"We will watch for downside risks to China's exports" in the fourth quarter, Wang said.

Trade turnover between Russian Federation and China has been rapidly growing, rising 30 percent to reach $77 billion from January to September, statistics from China's General Administration of Customs show.

The two countries imposed new tariffs on a massive amount of each other's goods mid-September, with the USA targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of United States goods.

Analysts polled by Reuters had forecast shipments from the world's largest exporter would rise 8.9 percent in September from a year earlier, slowing from 9.8 percent in August. China then hit back with tariffs on about $60-billion of US imports.

Chinese refiners are buying more and more very cheap heavy Canadian crude oil to make up for the dwindling supply of Venezuela's heavy grades as China's road construction sector-a key consumer of the heavy oil's bitumen yield-is booming.

Notably, the September surplus with the U.S. was bigger than China's overall trade surplus of $31.69 billion for the month.

Trump said the Chinese want to negotiate but he does not believe they are ready and he told them so.

For January-September, China's trade surplus with the United States was $225.79 billion, compared with about $196.01 billion in the same period a year ago.

They are also promoting settlements in rubles and yuan, bypassing the USA dollar and other Western currencies.

"Exports continued to defy United States tariffs last month but imports struggled in the face of cooling domestic demand", said Julian Evans-Pritchard of Capital Economics in a report.

"China's trade surplus will keep rising because the domestic economy is cooling down", said Andy Xie, a Shanghai-based independent economist.

Recommended

loading...
...

Facebook launching first AI video calling device called Portal Facebook launching first AI video calling device called Portal During calls, it can also play music on Spotify as well as tell children stories via augmented effects app Story Time. For more complex voice-controlled tasks, both Portal devices also incorporate Amazon's Alexa intelligent assistant.

Local space expert talks about implications of terrifying Soyuz rocket launch failure Local space expert talks about implications of terrifying Soyuz rocket launch failure A United States astronaut and a Russian cosmonaut are alive after a failure during a mission to the International Space Station . The Soyuz MS-10 rocket had four first-stage boosters strapped to its central core, which housed the second stage booster.

Tropical Cyclone Fourteen aims towards Gulf of Mexico Tropical Cyclone Fourteen aims towards Gulf of Mexico A tropical storm watch means that tropical storm conditions are possible within the watch area, generally within 48 hours. The current projection is Michael will be Category 3 with winds between 111-129 miles per hour when it reaches the coast.

'Changed Forever': Florida Panhandle devastated by Michael 'Changed Forever': Florida Panhandle devastated by Michael It developed into a hurricane on Monday, and by Tuesday, more than 180,000 people were already under mandatory evacuation orders. A day later, the beach town remained hard to reach by land, with roads covered by fallen trees, power lines and other debris.

Usain Bolt scores two goals in trial game for Central Coast Mariners Usain Bolt scores two goals in trial game for Central Coast Mariners Bolt scored his first goal in the 57th minute putting Central Coast 3-0 up with a powerful left-footed finish. As you would expect from a sprinter, Bolt has very fast feet, yet he can only play football with his left.

Air India flight hits wall at Trichy airport, gets diverted to Mumbai Air India flight hits wall at Trichy airport, gets diverted to Mumbai Furthermore, Air India Express has informed the Directorate General of Civil Aviation (DGCA) about the matter. The pilot however continued to operate the aeroplane saying the systems were operatinf normally.

Jose Mourinho considering signing Zlatan Ibrahimovic in January 2019 Jose Mourinho considering signing Zlatan Ibrahimovic in January 2019 To some at United, it is not a coincidence that disharmony within the squad has become an issue since Ibrahimovic moved away. The general consensus seems to be that, despite his age, Ibrahimovic would be a good addition to the dressing room.

Klopp told to sign one player, Ramsey Man Utd update, Shaqiri message Klopp told to sign one player, Ramsey Man Utd update, Shaqiri message It was a decision I made and hopefully it will be the last time I make that decision at that time. "Things are going really well for me now and I'm fully focused on improving and kicking on".

Donald Trump has Kanye West for lunch at the White House Donald Trump has Kanye West for lunch at the White House I have conversations that basically said that welfare is the reason why a lot of black people end up being Democrat. West also used the opportunity to applaud Mr Trump's efforts with North Korea and said he liked the country.

Pacific Northwest gas prices could spike after pipeline explosion Pacific Northwest gas prices could spike after pipeline explosion There were no injuries and RCMP said Thursday there are no indications the explosion was criminal in nature. Meanwhile, petroleum analysts expect gas prices to skyrocket by up to thirty cents per gallon.

Rishabh Pant picked for first two ODIs, Kohli back as captain Rishabh Pant picked for first two ODIs, Kohli back as captain Among pacers, Mohammed Shami , who last played an ODI over a year ago, will once again be seen in the blue jersey. Rishabh Pant , with impressive performances for India in recent Test matches, received his maiden ODI call-up.

Odisha Government Begins Evacuation as Cyclone 'Titli' Intensifies Into Storm Odisha Government Begins Evacuation as Cyclone 'Titli' Intensifies Into Storm The landfall of the severe cyclonic storm is likely to be between 6-9 am Thursday between Gopalpur (Odisha) and Kalingapatnam (Andhra Pradesh).

Finance minister to attend annual IMF, World Bank meetings Finance minister to attend annual IMF, World Bank meetings Instead, the Chinese maintain, they have boosted the country's economic growth and provided 70,000 jobs. The revised figures are partly because of a contraction in Iran on the back of U.S. sanctions.

Giants To Release Or Trade Ereck Flowers By Tuesday Giants To Release Or Trade Ereck Flowers By Tuesday However, after starting in 46 of a possible 48 games over his first three seasons, Flowers saw his play time fall this year. This year did not begin well for Flowers under the new regime led by general manager Dave Gettleman.

Disorderly Brexit will hit economy hard, warns OBR Disorderly Brexit will hit economy hard, warns OBR Britain's Brexit minister, Dominic Raab, could also come to Brussels then if weekend talks cover enough ground. The issue of the Irish border, the major sticking point, was "close to being settled", it said .