World view – Saturday

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WorldWatch2

For posting on events, news, opinions and anything of interest from around the world.

12 Comments

  1. Gezza

     /  October 13, 2018

    China’s trade surplus with US widens to record $34bn
    Friday 12 October 2018
    The record high comes despite a raft of US tariffs, adding fuel to the fire of a worsening trade war.

    Despite a worsening tariff war, China’s trade surplus with the United States has widened to a record $34.1bn in September. Chinese exports to the American market rose by 13 percent over a year to $46.7bn, down from August’s 13.4 percent growth, customs data showed on Friday.

    Imports of American goods increased 9 percent to $12.6bn, down from 11.1 percent.

    Relations between the world’s two largest economies soured sharply this year, with US President Donald Trump vowing on Thursday to inflict economic pain on China if it does not blink. The two countries imposed new tariffs on a massive amount of each other’s goods mid-September, with the US targeting $200bn in Chinese imports and Beijing firing back at $60bn worth of US goods.

    Chinese exports to the US have at least temporarily defied forecasts they would weaken after being hit by punitive tariffs of up to 25 percent in a fight over American complaints about Beijing’s technology policy. “Exports continued to defy US tariffs last month but imports struggled in the face of cooling domestic demand,” said Julian Evans-Pritchard of Capital Economics in a report. “We expect both to soften in the coming quarters,” he said.

    China-US trade
    China’s trade surplus with the US grew 10 percent in September from a record $31bn in August, according to China’s customs administration – a 22 percent jump from the same month last year.

    China’s overall trade – what it buys and sells with all countries including the US – logged a $31.7bn surplus, as exports rose faster than imports.

    While the data showed China’s trade remained strong for the month, analysts forecast the trade war will begin to hurt in the coming months. Analysts say a sharp depreciation of the yuan has also helped China weather the tariffs by making its exports cheaper.

    The yuan has lost nearly 10 percent of its value against the US dollar this year. That prompted suggestions Beijing might weaken the exchange rate to help exporters, but that might hurt China’s economy by encouraging an outflow of capital.

    US Treasury Secretary Steven Mnuchin – in comments published in the Financial Times this week – warned China against engaging in competitive currency devaluations.

    China has steadfastly denied that it has manipulated the yuan to cope with the tariffs. The US dollar has strengthened against a range of currencies this year as American interest rates have risen.

    China’s stock market has plunged this year but the trade war has also started to erode Trump’s oft-touted US stock gains, with the Dow Jones Industrial Average down more than five percent for the week.

    The International Monetary Fund this week cited the trade war as it lowered its 2019 growth forecast for China, which is set to see its slowest expansion since 1990.

    The IMF also lowered estimates for the United States and the global economy as a whole.
    Al jazeera

  2. Gezza

     /  October 13, 2018

    Al Jazeera tv is reporting that Pastor Brunson is expected to be returned to the US shortly by the US military:

    Turkish court frees US pastor Andrew Brunson
    A Turkish court ordered the release of an American pastor held for the past two years in Turkey in a case that sparked a crisis in relations with the United States.

    Andrew Brunson was convicted of terror-related charges and sentenced to three years, one month and 15 days in jail on Friday. But he was freed, taking into account the time already served and good conduct during the trial. The court also lifted his house arrest and overseas travel ban, paving the way for his return to the US.

    “This is good news for the Americans, as well as the Turkish market. Everybody was waiting for this court decision, as there was pressure on the Turkish lira following the tension between the US and Turkey” over the Brunson case, reported Al Jazeera’s Sinem Koseoglu from Izmir.

    After the court decision, Brunson returned to his home in Izmir. His lawyer told reporters that he was likely to leave Turkey for the United States. “This is the day our family has been praying for — I am delighted to be on my way home to the United States,” Brunson said in a statement, according to AFP news agency.

    Al Jazeera
    . . . . .

    • Gezza

       /  October 13, 2018

      😮 Everyone wants Ivanka to be the new UN Ambassador ? o_O

  3. Gezza

     /  October 13, 2018

    Al Jazeera tv currently reporting on:
    Saudi delegation arrives in Ankara
    A delegation from Saudi Arabia has arrived in the Turkish capital, Ankara, for an investigation into Khashoggi’s disappearance, according to two Turkish sources cited by the country’s Anadolu news agency.

    Turkish state media also reported the arrival.

    The visit follows an announcement on Thursday that Turkey had accepted a Saudi proposal to launch joint investigations into Khashoggi’s disappearance.
    . . . . . . . . . . . . .

    Aljaz’s reporter noted that the fact the Saui team has arrived in the political capital, Ankara, rather than Istanbul, the location of Khashoggi’s disappearance, suggests the Saudi investigation into disappearance of Kashoggi is most likely to involve a thorough political search for the best possible result in the circumstances.

    It is being accepted by most of their commentators the Turks have such irrefutable evidence of the murder that forensic investigations are unnecessary & that Erdoan, who has said little about this matter directly, has been building international diplomatic support before deciding what action to take.

    It is being suggested by Aljaz tv that Erdogan will be reluctant to do anything that permanently damages their diplomatic relations because he has recently shown much deference to the Saudi King as the guardian of Islam’s holiest sites. This included going to visit Salman at his rooms during his last official visit to Turkey, something not done for any other Head of State.

    • Gezza

       /  October 13, 2018

      * Saudi, para 4, * Erdogan, para 5

    • Gezza

       /  October 13, 2018

      Trump implies Jamal Khashoggi is dead, but won’t cut sales to Saudis
      US President Donald Trump has implied that Jamal Khashoggi, the missing journalist, has been murdered, saying it “certainly doesn’t look like he’s around”, but said he would not cut arms sales to Saudi Arabia even if the kingdom was responsible for Khashoggi’s death.

      The US president suggested he did not believe Saudi Arabia’s claim that Khashoggi had safely left its consulate in Istanbul before he disappeared more than a week ago. “He went in, and it doesn’t look like he came out. It certainly doesn’t look like he’s around,” Trump told Fox News.

      Turkey, meanwhile, said it had accepted Saudi proposals to set up “a joint working group” to investigate the case. It was not clear how such a group would work given that Turkish officials have accused Saudi Arabia of murdering and dismembering Khashoggi.

      But Trump said he would not scale back US$110 billion (NZ$168b) in US arms sales to Saudi Arabia even if it was proved that the kingdom had murdered Khashoggi, who regularly criticised the Saudi government.

      “I would not be in favour of stopping a country from spending $110 billion, which is an all-time record, and letting Russia have that money and letting China have that money,” Trump said. “What good does that do us? There are other things we could do.”
      – – – – – – – – – – – – – –
      https://www.stuff.co.nz/world/americas/donald-trumps-america/107818865/donald-trump-implies-jamal-khashoggi-is-dead-but-he-wont-cut-arms-sales-to-saudi-arabia

      Trumpy not letting go of that all-time record. Includes an Aljaz video clip.

    • Gezza

       /  October 13, 2018

      Has anyone seen any news reports of any statements by NZ’s Foreign Minister on this murder?

      I haven’t been able to google any up.

  4. Patzcuaro

     /  October 13, 2018

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