|Whiskey imports on the rocks as threat of US-China trade war weighs on industry|
American spirit makers are one of the many industries that could suffer if Beijing follows through with its threat to impose 25 per cent tariffs
PUBLISHED : Wednesday, 18 April, 2018, 5:53pm
UPDATED : Wednesday, 18 April, 2018, 6:19pm
When spirits dealer Daniel Taytslin brought his first pallet of American Ragtime Rye whiskey into Shanghai in early April, the 672 bottles faced a five per cent import tariff at China’s customs.His next shipment from New York could be a lot more expensive as China prepares to slap a 25 per cent additional tariff on hundreds of American products, including whiskey, because of a deepening trade dispute with the United States. Taytslin and other US whiskey importers say the worsening row is making small traders, as well as big business, very anxious. Some are accelerating shipments through customs to avoid potential tariff hikes. Others report unusual delays at customs they worry are linked to the trade tensions … for more, go to http://www.scmp.com/news/china/diplomacy-defence/article/2142303/whiskey-imports-rocks-threat-us-china-trade-war-weighs
US ban on ZTE may not be that damaging … Greenback vs Yuan-Ruble even more rocking!
KUALA LUMPUR (April 2018): International news agency AFP has reported that China is currently slightly ahead of South Korea and the United States in the race to develop fifth generation wireless networks, or 5G.
The report comes a day after The US government slapped a seven-year ban on ZTE Corp’s purchase of components from American companies.
ZTE is China’s No.2 telecommunications gear-maker. Read this for context: https://ilovemalaysiachinasilkroad.blogspot.my/2018/04/chinas-zte-is-trade-wars-first-big.html (China’s ZTE is trade war’s first ‘big casualty'? … Trump now takes on both China and Russia on alleged currency devaluation)
A coincidence in the two news reports?
Whatever, it appears ZTE’s woes may not be as bad as it looks in the US because China is already producing and manufacturing the necessary parts or components that ZTE needs for its products.
What the rest of the world is looking and monitoring is the heightening of the US-China trade war following President Donald Trump’s accusation that both China and Russia are devaluing their currencies while the United States raises interest rates.
China has retorted and accused the US of sending confused messages.
The rest of the world now awaits to see how China and Russia will retaliate against the tariff-slapping Trump’s continuous rocking of the global economy to protect and make America great again.
Here’s the AFP report as posted by The Star Online:
"In race for 5G, China leads South Korea, US: study
Wednesday, 18 Apr 2018
6:00 AM MYT
Industry officials say 5G deployment will reap important economic benefits for the leaders, and that lagging could have negative effects. — AFP
WASHINGTON: China is slightly ahead of South Korea and the United States in the race to develop fifth generation wireless networks, or 5G, a US study showed.
The study released by the CTIA, a US-based industry association of wireless carriers, suggested that the United States is lagging in the effort to deploy the superfast wireless systems that will be needed for self-driving cars, telemedicine and other technologies.
The report prepared by the research firm Analysys Mason found that all major Chinese providers have committed to specific launch dates and the government has committed to allocate spectrum for the carriers.
The 10-nation study said the US is in the “first tier” of countries in preparing deployment of 5G, along with China, South Korea and Japan. In the second tier are key European markets including France, Germany and Britain, with Singapore, Russia and Canada in the third tier.
Industry officials say 5G deployment will reap important economic benefits for the leaders, and that lagging could have negative effects.
“The United States will not get a second chance to win the global 5G race,” said Meredith Attwell Baker, CTIA president and chief executive.
“I’m confident that America can win and reap the significant economic benefits of 5G wireless due to our world-leading commercial investments.”
Baker said the US still needs to enact measures to reform local zoning rules and unlock access to spectrum as part of a broader plan for 5G.
“I’m optimistic we will leapfrog China because key leaders in the administration, on Capitol Hill, and at the FCC (Federal Communications Commission) are focused on the reforms needed to win the race.”
According to the study, Europe led that way in 2G, the second generation, while Japan was ahead in 3G and the United States in 4G.
The first commercial 5G roll-outs begin this year and next in the United States, Korea and Japan, and the wireless industry is counting on the new technology to trigger a wave of growth in equipment sales and mobile services. — AFP/The Star Online"
|China wants to embrace the world, not take it over, Xi says at Boao Forum for Asia|
Chinese leader makes slew of promises, but some observers are getting weary of words rather than actions
PUBLISHED : Wednesday, 11 April, 2018, 10:15am
UPDATED : Wednesday, 11 April, 2018, 11:07am
China’s President Xi Jinping’s strong message delivered at the Boao Forum for Asia was intended to ease tensions in the tit-for-tat trade dispute with the US, and assuage concerns of the world at large about China’s economic diplomacy and rising assertiveness, analysts said.Washington was the main target for Xi’s remarks at the annual economic summit in south China’s Hainan province, as he vowed to further open up and liberalise the nation’s economy.
“China’s opening up will definitely enter a whole new phase,” Xi told the audience of key leaders, including Philippines President Rodrigo Duterte and the managing director of the International Monetary Fund Christine Lagarde. “I want to clearly tell everyone that China’s open door will not be closed, it will only be opened wider,” he said in his first public speech since he set himself up as the country’s new paramount leader after successfully scrapping presidential term limits last month … for more, go to http://www.scmp.com/news/china/diplomacy-defence/article/2141192/china-wants-embrace-world-not-take-it-over-xi-says-boao