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China’s surprise slump in exports shows Trump’s trade war damage — and Goldman Sachs says tariffs are coming despite a partial deal
Trump boasted of a partial trade deal with China, but Goldman says "it is more likely than not" that December tariffs kick in, perhaps with a delay.
While China has pledged "unwavering" support for private businesses, the government has strengthened its role in the sector in recent years.
Alibaba is set to soar after the US denied it is weighing limits on China listings on American stock exchanges
Alibaba sank more than 5% on Friday after Bloomberg reported that the Trump administration discussed slowing US investment in China.
China's industrial production fell in August, after hitting a 17-year low in July. That's a big risk to the US in an election year, says Pantheon Macroeconomics.
China let its currency, the renminbi, slip earlier this month, sending markets crashing as it retaliated against the US in their trade war.
China "has effectively weaponized the exchange rate" and may let it drop further, "probably by 5-10% over the coming quarters," says Capital Economics.
US stocks are set to crater after China made a change to its currency that has dire implications for the trade war.
US futures plunged more than 1.2% on the news of China's currency falling to an 11-year low — a move that is seen as an escalation in the trade war.
China just posted its lowest growth rate in almost 30 years as the trade war hammers the economy — and the ‘worst is yet to come’
"There's no doubt in anyone's minds that the trade war is a major contributing factor here," said one analyst, and China's growth was already slowing.
The modern Chinese economy is full of surprises.
A data point seen as the bellweather for global trade just tanked — and ‘the floor is not yet in sight’
South Korea's 20-day exports, seen as a canary in the coal mine for the global economy, dropped 5%. Exports to China and Japan fell by more than 10%.