The yuan plunged beyond 7 per dollar for the first time since 2008 amid speculation Beijing was allowing currency depreciation to counter President Donald Trump’s latest tariff threat.
European stock markets have fallen after the surprise decision by Donald Trump to impose new tariffs on a further $300bn of Chinese imports.
China’s economic growth has slumped to its lowest level in nearly three decades, but the trade war with the United States isn’t solely to blame. Gross domestic product growth dropped to 6.2% in the second quarter, the weakest since the government started publishing quarterly figures in 1992, the national statistics authority said this week. Soon after the figures wereRead More
China’s economic growth has slumped to its lowest level in nearly three decades as the world’s second largest economy feels the effects of a prolonged trade war with the United States.
Risky borrowers are running into trouble in China and that is putting pressure on trust companies, an important corner of the country’s shadow-banking system.
The fall of Baoshang has its roots in the off-loan-book transactions that China’s small banks use to work around rules that restrict them from lending to weak borrowers, as well as evade capital and provisioning requirements.
Huawei’s flagship, hi-tech P30 phones have massively dropped in value after the surprise ban by United States authorities.
China has transformed from a nation where few had ever experienced air travel to one where millions of its citizens are flying not only across their own vast territory, but to destinations around the world.
When it comes to technology, Shenzhen may well be the most fascinating city in the world. It makes the majority of our electronics. It clones the best technology Silicon Valley has to offer with ease.
Baidu, heralded as the Google of China, felt the heat from its continued spending on artificial intelligence and other next-gen technologies that have yet to reach the mass market as it unveiled troubled first-quarter financials on Thursday.