China’s pork shortage could give US farmers a chance to cash in
Pork prices have nearly doubled, and data show local production of the meat this year will likely fall a few million tons short of demand. Source link: Click here for more
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World economy
China says its economy grew 6% in the third quarter, slower than expected
China released third-quarter GDP figures on Friday showing the economy grew 6.0% from a year ago. Source link: Click here for more
Asia Pacific shares mixed in early trade; China’s GDP data ahead
Asia Pacific markets were mixed in early trade Friday morning, as investors await the release of China’s third-quarter growth data with slowing growth continuing to be a concern amid the ongoing trade war with the U.S. Source link: Click here for more
Trump advisor Peter Navarro reportedly invented and quoted a fictional character in his books
Tessa Morris-Suzuki, a professor at the Australian National University, discovered that a character named Ron Vara in Navarro’s books is fictional, reported The Chronicle of Higher Education newspaper. Source link: Click here for more
‘Addiction’ to cheap money will do ‘tremendous damage’ to the global economy
Central banks are increasingly lowering rates, or moving to negative rates, and analysts warn this could damage the global economy. Source link: Click here for more
Hong Kong shares rise, led by property developers
The Hang Seng Index jumped 0.65%, with shares of property developers rising after the city’s leader Carrie Lam announced on Wednesday measures to ease a housing shortage and calm anti-government protests. Source link: Click here for more
Former Mexican president says Trump is ‘isolating’ the US economy
President Donald Trump is isolating the U.S. and jeopardizing global economic growth, former Mexican President Vicente Fox told CNBC Wednesday. Source link: Click here for more
‘Awfully high’ risks of a global recession in the next 12-18 months, Moody’s chief economist says
“Even if we don’t have a recession … I think it’s pretty clear that we’re going to have a much weaker economy,” says Mark Zandi. Source link: Click here for more
China threatens countermeasures in response to US bill supporting Hong Kong protesters
China will take countermeasures against the U.S. for its move towards passing a bill that favors the Hong Kong protesters, the Chinese Foreign Ministry said Wednesday. Source link: Click here for more
US charges Turkish bank, linked to Giuliani client, over Iran sanctions evasion scheme
Federal prosecutors in New York announced charges on Tuesday against a Turkish bank with ties to a gold trader connected to Rudy Giuliani, accusing the financial institution of a multi-billion dollar scheme to evade U.S. sanctions on Iran. Source link: Click here for more
China’s pork prices surged 69.3% in September from a year ago
Pork is a staple in the Chinese diet, so an increase in prices over the last year have hurt the wallets of many consumers in China. Source link: Click here for more
Trump halts trade negotiations with Turkey, raises its steel tariffs to 50%
The retaliatory measures followed Trump’s controversial move to order the withdrawal of all U.S. troops from Syria’s northern border. Source link: Click here for more
Beijing is ‘relieved’ by partial trade agreement, says Trump outside advisor on China
“I think that may have scared the Chinese that they were going to get into a serious trade war with access to our capital markets being cut off, among other things,” Michael Pillsbury says. Source link: Click here for more
Amid trade war, China moves to remove limits on foreign ownership in the financial industry
Beijing will be opening up its financial industry to foreign ownership from January, namely in the areas of futures, mutual funds and securities. Source link: Click here for more
WTO formally backs US tariffs on EU goods
The United States has cleared the final procedural hurdle in order to impose tariffs on billions of dollars of European products later this month. Source link: Click here for more
Truce or genuine deal? Analysts question if phase one of US-China trade pact will last
Analysts say the partial U.S.-China trade deal doesn’t touch on thorny issues plaguing both sides, and warn talks could break down again. Source link: Click here for more
Syria’s Kurds look to Assad for protection after US pullout
Syria’s Kurds said Syrian government forces agreed Sunday to help them fend off Turkey’s invasion. Source link: Click here for more
China’s exports fell 0.7% in September in yuan terms; imports down 6.2%
China’s yuan-denominated exports fell 0.7% in September from a year ago, while imports dropped 6.2% during the same period, Reuters reported on Monday, citing the Chinese customs. Source link: Click here for more
Singapore’s economy dodges technical recession after growing 0.6% in the third quarter
A technical recession occurs when there are two consecutive quarters of economic contraction. Source link: Click here for more
Swift Saudi recovery returns oil markets to ‘business as usual,’ IEA says
Global oil markets largely weathered attacks on oil sites in Saudi Arabia last month, the International Energy Agency said on Friday. Source link: Click here for more