- Jul 2, 2014
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TOKYO - In his game of chicken with China, Donald Trump’s imploding White House just flinched in a big way.
After bombastic threats to the contrary, the US president won’t blacklist mainland tech titans Alibaba, Baidu and Tencent after all, say the Wall Street Journal, Reuters and others.
It’s a climbdown about which neither Trump nor Secretary of State Mike Pompeo can be happy. And it’s a move that speaks to the abject failure of the US side in the Sino-US trade and tech wars.
The global media is clamoring all over the why of this story. The most probable explanation is Trump and Treasury Secretary Steven Mnuchin had an earful from Wall Street donors over not being able to invest in three of China’s sexiest companies with a combined market cap exceeding US$1.4 trillion – bigger than Australia’s economy.
asiatimes.com
Xi wins, Trump loses as Biden takes the field
China is now well on track to challenge US as world’s financial center while still serving as the globe’s factory floor
By WILLIAM PESEK And ANDREW SALMON JANUARY 12, 2021
US President Donald Trump’s reckoning is dominating headlines. The deadly Capitol Hill riots the US president fomented have left him fighting for his political life eight days before Joe Biden’s arrival.
Yet another casualty of the Trump era might soon be leading the global news cycle: a US bond market whose credibility Trump may be leaving for dead.
Look no further than 10-year Treasury yields rising on Friday after a surprisingly weak US unemployment report. The 140,000 drop in December payrolls was the clearest sign yet that the world’s largest economy is hitting a fresh Covid-19 wall.
What does this mean? No “V-shaped” recovery, no inflation and even less risk of Federal Reserve tapering. So sell orders are flying.
To understand what’s afoot, look no further than financier Ray Dalio’s recent musings on China and, by extension, the financial dumpster fire Trump leaves behind.
asiatimes.com
After bombastic threats to the contrary, the US president won’t blacklist mainland tech titans Alibaba, Baidu and Tencent after all, say the Wall Street Journal, Reuters and others.
It’s a climbdown about which neither Trump nor Secretary of State Mike Pompeo can be happy. And it’s a move that speaks to the abject failure of the US side in the Sino-US trade and tech wars.
The global media is clamoring all over the why of this story. The most probable explanation is Trump and Treasury Secretary Steven Mnuchin had an earful from Wall Street donors over not being able to invest in three of China’s sexiest companies with a combined market cap exceeding US$1.4 trillion – bigger than Australia’s economy.
Trump waves white flag at China’s tech titans
TOKYO – In his game of chicken with China, Donald Trump’s imploding White House just flinched in a big way. After bombastic threats to the contrary, the US president won’t blacklist mainland …
asiatimes.com
China is now well on track to challenge US as world’s financial center while still serving as the globe’s factory floor
By WILLIAM PESEK And ANDREW SALMON JANUARY 12, 2021
US President Donald Trump’s reckoning is dominating headlines. The deadly Capitol Hill riots the US president fomented have left him fighting for his political life eight days before Joe Biden’s arrival.
Yet another casualty of the Trump era might soon be leading the global news cycle: a US bond market whose credibility Trump may be leaving for dead.
Look no further than 10-year Treasury yields rising on Friday after a surprisingly weak US unemployment report. The 140,000 drop in December payrolls was the clearest sign yet that the world’s largest economy is hitting a fresh Covid-19 wall.
What does this mean? No “V-shaped” recovery, no inflation and even less risk of Federal Reserve tapering. So sell orders are flying.
To understand what’s afoot, look no further than financier Ray Dalio’s recent musings on China and, by extension, the financial dumpster fire Trump leaves behind.
Xi wins, Trump loses as Biden takes the field
US President Donald Trump’s reckoning is dominating headlines. The deadly Capitol Hill riots the US president fomented have left him fighting for his political life eight days before Joe Biden’s ar…
asiatimes.com
