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looking beyond borders

foreign policy and global economy

Archive for the category “Global Economy”

The ‘Age of Tech’ Is Over

On September 28, 2018, tech died. That’s according to a widely circulated eulogy prepared by Vincent Deluard, a strategist at INTL FCStone, a financial services company. “If technology is everywhere, the tech sector no longer exists,” he wrote. “If the tech sector no longer exists, its premium is no longer justified.”

Read Here – The Atlantic

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The Euro Turns 20

The euro’s first 20 years played out very differently than many expected, highlighting the importance of recognizing that the future is likely to be different from the past. Given this, only a commitment to flexibility and a willingness to rise to new challenges will ensure the common currency’s continued success.

Read Here – Project Syndicate

Asia Stumbles Into Year Of The Currency War

True, Treasury Secretary Steve Mnuchin effectively declared an end to the 24-year-old strong dollar policy in January 2018. The White House quickly backtracked as markets quaked. In 2019, expect a new currency push. One motivation: US growth is losing momentum. Trump is anxious to keep the key source of his legitimacy humming along. The bigger objective, though, is reminding Asia who’s boss.

Read Here – Asia Times

Huawei Is the Doorway To China’s Police State

The arrest of Huawei Chief Financial Officer Meng Wanzhou was apparently a long time coming. U.S. investigators began looking into Huawei’s dealings when Iran’s once Chinese-backed ZTE was identified as a sanctions-breaker. U.S. prosecutors now appear to have substantial evidence of the Chinese Communist Party’s state-backed mobile and technology company’s violations of the sanctions regime against Iran.

Read Here – The National Interest

Trump, Xi Declare Truce On New Tariffs As Trade Talks Continue

President Donald Trump and Chinese President Xi Jinping agreed to a temporary trade ceasefire to allow time for more negotiations. The move means that U.S. tariffs on $200 billion worth of goods will not rise to 25 percent on Jan. 1, from 10 percent currently. As part of the deal, China agreed to buy “a very substantial amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries,” White House Press Secretary Sarah Huckabee Sanders said in a statement.

Read Here – Politico

Also read: Trump’s Slump: What The US And Chinese Leaders’ Body Language Tells Us About Their G20 talks

The US And China Are The Closest Of Enemies

After years of economic symbiosis in which the US purchased low-cost Chinese imports and China purchased US Treasuries, China has begun to pursue the prerogatives of a superpower, and the US has responded in kind. As a result, both countries are becoming more alike, particularly in their belief that there can be only one winner.

Read Here – Project Syndicate

G-20: It’s ‘Now or Never’ In The ‘Fight Of The Century’ Between Donald Trump And Xi Jinping

Trump, by standing firm in Argentina this weekend, can accelerate the trend of disengagement of the American and Chinese companies. Yet it is not only the American president who is pushing factories out of China. Xi Jinping is also helping the cause of disengagement by punishing American companies in China, turning Fortune 500 behemoths into potential hostages with thus an added reason to leave the country.

Read Here – The National Interest

Also Read – The Trump-Xi Meeting Isn’t Just About Economics

Will Donald Trump And Xi Jinping Rekindle Their ‘Great Chemistry’ At The G20 Summit?

Chinese and American officials may have spent weeks preparing for the high-stakes summit between Xi Jinping and Donald Trump this weekend, but any hopes of resolving the current trade war may ultimately hinge on their personal chemistry. Their encounter in Buenos Aires on the sidelines of the G20 summit will be the first face-to-face meeting between the two leaders in nearly a year – and the first since Trump started the trade war over the summer.

Read Here – South China Morning Post

Is A Thaw Coming In US-China Relations?

The news about U.S.-China relations has been decidedly negative lately, particularly since U.S. Vice President Mike Pence’s fiery speech criticising the Chinese government on October 4. But now, amid the trade war and continuing tensions in the South China Sea, there are glimmers of hope for a thaw.

Read Here – The Diplomat

How Washington Is Abusing Its Financial Might

Economic power, like any tool, can have unfortunate results if wielded unwisely, producing unwanted short-term consequences and prompting the long-term decline of U.S. economic leadership. Today, Washington is increasingly using its economic power in aggressive and counterproductive ways, undermining its global position and thus its ability to act effectively in the future.

Read Here – Foreign Affairs

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