Footwear maker Crocs Inc to cut sourcing sourcing U.S. products from China to 10% in 2020, down from 30%. In a significant development, footwear maker Crocs Inc stated, it aims to cut the amount of U.S. products that it sources… Read More ›
China
Pentagon diversifying sourcing of rare earths
Pruning the sully of rare earth to the United States is China’s only weapon against the United States in the ongoing U.S.-China trade war. In a significant development that marks a strategic shift in the sourcing of rate earth minerals,… Read More ›
Trade war with China and Mexico likely to escalate: Goldman Sachs
Things are likely to escalate before they cool down. In a note, economists at Goldman Sachs stated, they see a 60% chance that the United States would slap further tariffs on the final $300 billion of Chinese imports. This is… Read More ›
Huawei Technology to sell undersea cable business
The disclosure was made by Hengtong Optic-Electric Co Ltd in a filing to the Shanghai Stock Exchange. On Monday, a filing by China’s Hengtong Optic-Electric Co Ltd, an optical communication network products company based in Jiangsu, showed that Huawei Technologies… Read More ›
Huawei hogs limelight in opening of lawsuit in Sherman, Texas
The lawsuit is the first to be heard under the U.S. Defend Trade Secrets Act of 2016; as per Matthew Goss, general counsel for CNEX, Huawei is “weaponizing our courts against U.S. companies.” On Monday, in a lawsuit that is… Read More ›
U.S. faring well in U.S.-China trade talks: Trump
Enforceability is going to be critical to any potential future trade deal. U.S. President Donald Trump disclosed, the United States was doing well in trade talks with China and that Beijing wants to make a deal with Washington. “China would… Read More ›
China’s banking regulator takeover Mongolia-based Baoshang Bank
The development underscores the prevalence of unmanageable debt, which poses a systemic risk in China’s financial system. On Monday, in a significant development, the takeover of Inner Mongolia-based Baoshang Bank by by China Banking and Insurance Regulatory Commission (CBIRC), jolted… Read More ›
Countries who artificially undervalue currency could see hike in U.S. tariffs
Chinese exports to the United States could face additional hike in tariffs from this proposed new rule by the U.S. Commerce Department. In a significant development the U.S. Commerce Department stated it proposes to impose anti-subsidy duties on products from… Read More ›
Russia lowers USD share in the structure of its foreign currency reserve
Russia’s central bank lowers USD’s share from its foreign currency reserves citing external risks. Ksenia Yudayeva, the First Deputy Governor of Russia’s central bank stated, it has lowered the share of dollars in its reserves citing a potential rise in… Read More ›
Credit Suisse expands family office services for Greater China
With an increase in wealth in Greater China, there is a significant rise in the number of clients wanting family office services. Credit Suisse aims to tap this emerging market. In a move aimed at increasing its services among wealthy… Read More ›
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