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...We start today with fresh signs of tension between the US and China....
...Almost all of that is tanked to China from the Gulf through the Strait of Hormuz....
...On Wednesday, Bank of Korea governor Rhee Chang-yong said the central bank would intervene to control currency volatility if needed....
...Here’s more on the limits of western attempts to rein in the Islamic republic....
...While China’s inflation rate has dipped below zero, its producer prices index and the cost of its exports have absolutely plunged, as this Bank of America chart shows....
...In recent years for example, China’s trade data has been indicating that it exports tens of billions dollars more than the US assesses it imports, Brad Setser, a senior fellow at the Council on Foreign Relations...
...Most of the world’s economic policymakers are in Washington this week for the IMF/World Bank spring meetings....
...Here, a comparison with China is instructive. In the second half of 2021, a surge in Chinese imports dramatically drove up LNG prices for European countries....
...China’s auto industry is the world’s biggest across sales, production and, since last year, exports....
...In its PMI release on Sunday, the NBS said the indices for new export orders and imports were 51.3 and 50.4, respectively, an increase of five and four points from the previous month....
...Effectively, Gazprombank replaced Russia’s sanctioned central bank as the main financial intermediary with the outside world....
...price rises poses US inflation risk Is deflation really China’s next big export?...
...“We stood up a technical exercise to discuss how we would handle potential stresses at global systemically important banks, either in China or the US, and essentially make sure that we know if something...
..., vice-premier and central bank governor....
...Russian imports of its goods rose from $123mn in 2021 to $269mn in the first nine months of 2023....
...As a recent report by Currency Research Associates noted, “China buying gold and selling Treasuries mirrors how Europe’s central banks began to redeem dollars for gold in the late 1960s as the Bretton Woods...
...Piero Cipollone, the European Central Bank’s newest board member, warned against an “excessive focus” on waiting for slower wage growth before it starts cutting interest rates, suggesting he may argue for...
...Officials at the People’s Bank of China point to more central oversight as the state’s financial resources are reallocated towards bolstering credit for the key emerging and strategic sectors....
...“The US and China stand to lose from the conflict’s expansion as it would significantly impact energy exports from the region, the price of oil, and the global economy,” said Ayham Kamel, practice head for...
...Chart of the day Morgan Stanley, UBS and Bank of America have some of the biggest gender pay gaps in Australia, according to a government survey, more than twice as high as the average of 19 per cent....
...Two, they enable the commission to demand large amounts of data from companies to investigate direct or indirect subsidies, including loans from state or state-directed banks, export credit guarantees and...
...That would leave UK inflation above the Bank of England’s 2 per cent target, which may help persuade the central bank not to make extensive rate cuts this year....
...It was predictably dominated by questions of how to get arms to the country, including the legal implications of using the bloc’s central budget to do so....
...The Reserve Bank of New Zealand said below trend global economic growth, particularly from China, would help reduce “import price inflation” and that there was a risk financial markets were underestimating...
...Central Huijin Investment, part of China’s $1.2tn sovereign wealth fund China Investment Corporation, announced it would continue to increase China stock holdings to “firmly safeguard the stable operation...
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