US-China
- World News
China investigating ministry member for alleged CIA espionage
China’s state security ministry has launched an investigation into a 39 year old Chinese national, identified only by his surname Hao, over allegations of espionage on behalf of the United States Central Intelligence Agency (CIA). Hao, who once held a position at a ministry, was reportedly recruited while studying in Japan. This development comes less than two weeks after another…
- Business News
Trade war triggers fear of new EV chip shortage from China export limit
Leading authorities in the industry fear another chip shortage could soon hit electric vehicle (EV) manufacturers. This comes as China limits the export of two significant metals, a move driven by the ongoing trade dispute between Washington and Beijing, as reported by the Federation of Thai Industries (FTI). As of August 1, China will impose trade restrictions on select products…
- Politics News
China snubs US invitation for defence meeting in Singapore
China rejected a US proposal for a meeting in Singapore between Defence Secretary Lloyd Austin and his Chinese counterpart Li Shangfu, according to the Pentagon. The refusal to engage in military-to-military discussions raised concerns but the US Department of Defence remains committed to pursuing open lines of communication with the People’s Liberation Army. Pentagon spokesman Brigadier General Pat Ryder said……
- Politics News
China downplays Micron ban as individual case, not broader US firm targeting
China is attempting to mitigate the fallout from its recent decision to partially ban sales of US chipmaker Micron‘s products in the country on national security grounds. The ban has been challenged by Washington, which views it as a deliberate targeting of US businesses in response to export controls imposed on China. However, Chinese authorities, including the foreign ministry and…
- Politics News
China bans US Micron chips, escalating global chip industry risks
China’s recent ban on certain sectors using chips from United States-based Micron Technology has highlighted the potential risks faced by the global chip industry amidst rising Sino-US trade tensions. The move against Micron, the largest US memory chipmaker, is widely perceived as retaliation for Washington’s attempts to limit Beijing’s access to crucial technology. This comes as the Group of Seven…
- World News
China commerce minister to meet US officials amid tense relations
China‘s Commerce Minister Wang Wentao is set to visit the United States next week to meet with US Commerce Secretary Gina Raimondo and US Trade Representative Katherine Tai, according to Liu Pengyu, a spokesperson for China’s embassy in Washington. The visit comes as the US aims to engage with Beijing to repair strained relations. Liu announced the plans during an…
- World News
South East Asian leaders foreshadow a pivot to the US in the new administration
So what will the presidency of US President-elect Joe Biden mean for south east Asia? And how will it differ from the administration of President Trump? South east Asia already knows Joe Biden from his term as US vice president from 2008 – 2016, and his “Asia pivot” that provided high-level diplomacy and resources with strategic trade relationships. The Obama-era…
- Covid-19 News
President Trump claims China responsible for “mass worldwide killing”
In one of his notorious Twitter posts, US President Donald Trump once again raged against China over the Covid-19 pandemic sweeping the globe, blaming Beijing for a “mass worldwide killing.” The early morning tweet yesterday, which referred to an unidentified “wacko in China”, is the latest heated rhetoric from Washington, where Trump is making attacks on Beijing a central narrative…
- World News
The US and China sign Phase One of new trade agreement today
The United States and China are poised to sign a trade truce today after a protracted trade spat that has impacted both countrys’ economies and shaken spread unease through world trade links. Both sides describe the result of the ‘Phase One’ agreement as ‘hard fought’. The signing signals a fragile truce and a prickly period of reconciliation between the world’s two…
- World News
The baht keeps surging – and other predictions for the Thai economy in 2020
The last time the Thai baht’s value against theUSD touched 29 baht/US dollar was back in 2013. But the currency appreciation situation was quite different then. Today it’s floating around 30 baht in its 22nd year as a floating international currency. How will all that affect the Thai economy in 2020? Now the strong baht is a result of the…
- Business News
American firms want to relocate to Thailand to counter US-China trade war
PHOTO: “You’re all welcome!” – Thai PM Prayut Chan-o-cha at the ASEAN Business Summit – Bangkok Post US business leaders visiting Thailand are looking for opportunities, especially relocating their production bases, as they try to sort out heir businesses in the wake of the US-China trade war. The US Secretary of Commerce Wilbur Ross and executives of 16 American companies…
- Economy News
Local investor sentiment dampened by Brexit woes and slump in Chinese economy
The British pound fell today as investors fret over PM Boris Johnson’s chances of pushing his Brexit deal through the British parliament, while Asian markets were mostly down after data showed China’s economy expanded at its slowest pace in nearly three decades. The pound rallied almost to US$1.30 yesterday following news that negotiators had hammered out an agreement that would…
- World News
Trade talks resume between China and US but hopes fade
Expectations are low as trade talks between China and the US resume today. US President Donald Trump has taken an aggressive stance with China and says he will decide the outcome of the talks. “They want to make a deal. The question is do I want to make a deal.” With $250 billion worth of Chinese imports facing an increase…
- World News
US will slap tariffs on EU following Airbus trade ruling
PHOTO: Airbus factory in Toulouse, France – Manatour.fr The US is making more trade waves, in addition to its long-running trade war with China. Now it’s taking on the largest trade bloc in the world – the European Union. Aircraft and agricultural items from Europe will now be subject to US tariffs in the latest round of a long legal…
- World News
‘Impeachment nonsense’ is to blame for Wall Street rout – US President Trump
“Institute for Supply Management’s manufacturing index signaled that September was the worst month for US manufacturing in more than a decade.” October’s history as an irritating month for world stocks reared its head again after only two days as markets plunged on fears, both real and imagined. The Dow Jones industrial average gave up all its September gains and then…
- Business News
Large Thai business feeling the effects of US-China trade war, rise of the baht
So what do Thailand’s big banks say? The ongoing US-China trade war and the appreciation of the Thai baht against other currencies is now starting to impact larger corporates in Thailand. Wasin Saiyawan, senior executive vice president and chief of wholesale banking at Siam Commercial Bank says, that although large businesses are resilient to any impact and their ability to…
- World News
US trying to make ‘meaningful progress’ in US-China trade negotiations
PHOTO: CNBC by Heather Scott US trade negotiators want to make “meaningful progress” in upcoming talks with China, according to Treasury Secretary Steven Mnuchin, one day after conciliatory gestures by both sides boosted hopes of an eventual resolution. The slugfest between the world’s two largest economies has cast a shadow over global economic growth with both Chinese and US economies…
- Economy News
Thailand’s gold and jewellery exports rise nearly 30%
The export value of gems and jewellery grew by 29.3% in the past seven months despite unfavourable trading terms with the rising baht. The Gem and Jewellery Institute of Thailand director, Duangkamol Jiambutr, puts the value of exports from January to July at US$9 billion or approx. 280 billion baht, a 29.3% increase year on year. Gold exports led the climb,…
- Economy News
Thai economic committee warns about stagnant growth in second half of 2019
The Joint Standing Committee on Commerce, Industry and Banking says they’re concerned by threats to the performance of the Thai economy in the second half of this year. The office says the lack of stimulating factors and the project of an ever-stronger baht will stifle economic expansion and the economy will fail to reach targets. The JSCCIB President Preedee Daochai…
- World News
Thailand industrial property a winner as US-China trade war drags on
Amongst all the bad economic news, Thailand’s industrial property sector is profiting from the protracted US-China trade war, as mainland Chinese manufacturers shift production to ASEAN countries in an attempt to avoid escalating tariffs. Chinese foreign direct investment into the south east Asia sector rose last year by 31.7% to USD 233 million, after declining by 15.7% in 2016-17, according…
- Business News
World economy wakes up to a day when the US has imposed new tariffs on China
The US has rolled out new tariffs on Chinese products yesterday but some economists say the latest gamble is likely to backfire and hurt the US economy. Meanwhile they predict the ramping up of the tariff ti-for-tat will not tarnish China’s resilience or dampen development in the long run. Yesterday the US administration imposed 15% additional tariffs on about half…
- Business News
Baht to climb higher against USD, more pressure on exports
The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation…
- Business News
Currencies and stock exchanges flutter as the dust settles on the latest threats in the US-China trade spat
Central banks in India, Thailand and New Zealand cut interest rates this week in an attempt to fend off any harm from the spiralling US-China trade war. The escalation of the trade war, sparked by fresh US tariff threats by US President Trump over the weekend, is seen as the reason for the policy shift. On Monday, the People’s Bank…
- World News
UPS says Thailand and Indonesia cargo traffic are winners in trade war
Supply chains are quickly adapting to the US-China trade war and Thailand, Indonesia and Japan are the biggest growth markets in Asia for UPS, according to the American international package delivery and global logistics service. UPS’s COO Jim Barber says there is no question that cargo volume from China to the US has significantly decreased but, with some manufacturers moving…
- Business News
Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
- Business News
“Very dangerous” Huawei could be part of a US-China trade deal
President Donald Trump has reiterated his complaints against China’s Huawei Technologies but conceded that they could be resolved as part of a negotiated US-China trade deal. Without providing evidence, he went on to call the Chinese telecommunications giant “very dangerous.” The US has virtually banned firms from conducting business with Huawei, the world’s largest telecom manufacturer, citing unspecified national security…
- Technology News
US temporarily ease restrictions on Huawei
PHOTO: Huawei’s founder Ren Zhengfei and Chinese President Xi Jinping – SCMP The US has temporarily eased some of the restrictions on China’s Huawei, the world’s largest phone and telecom equipment maker, to minimise disruption to its customers. But Huawei’s founder, Ren Zhengfei, says it means little because the company was well prepared for any US restrictions to their trading. The…
- Business News
Export growth expected to be the lowest in four years
Export growth for Thailand this year is is now being pegged at less that 1%, the lowest growth in four years. Mr. Ath Pisarnwanich, director of the International Trade Study Centre at the University of Thai Chambers of Commerce is saying the low growth is a result of both the escalating US-China trade war and the Vietnam-EU free trade agreement. The…
- Business News
Urgent meetings to consider impact of US-China trade war on Thai exports
The Thai government is reacting quickly to perceived threats to the Thai export business by the ongoing US-China trade wars which have been ramped up in the past week by, firstly, US President Donald Trump rising the tariffs on a raft of additional Chinese items. Then China announced yesterday that it will impose tariffs on US$60 billion of US goods from June…
- Business News
Thai businesses feeling pinch from china-US trade wars
Since the US China trade war kicked off in the middle of 2018, Thai businesses have begun to feel the pinch as indicated by a small downward trend in Thai export numbers. In the short run, some Thai export items may benefit from trade diversion as US and Chinese importers shifted to certain Thai products to avoid punitive tariffs. However, indirect…
- Thailand News
How Thailand became a casualty in the US-China trade war
from South China Morning Post and AFP About one third of all the rubber in the world comes from Thai forests, many in the southern regions. But a sudden drop in Chinese demand has compounded a longer term global oversupply crisis to push prices off a cliff. Countries like Vietnam are benefiting as manufacturers migrate from China to avoid punishing tariffs…
