*China swings to trade deficit in February, exports tumble. *China copper imports fall 30 pct in Feb vs Jan. LONDON, March 10- London copper hit an eight-month low on Monday and Shanghai contracts dropped by the 5 percent daily limit, fanned by fears over the unwinding of copper finance deals in China after its first domestic bond default last week.» Read More
China is looking to score big in hosting the Beijing 2008 Olympic Games next August, but the judging will be very tough.
U.S. Treasury Secretary Henry Paulson and other top Bush administration officials warned on Tuesday of risks to the U.S. and global economy if Congress passes legislation aimed at punishing China for its currency policy.
U.S. Treasury Secretary Henry Paulson is in China this week, seeking parity on a number of economic issues. With American concern over the yawning trade and currency gaps, Congress has pressured the secretary to get results. How far will Beijing go to accomodate its key trading partner? "My hypothesis is the Chinese will do something --but not a lot," said Peter Morici, former director of economics at the U.S. International Trade Commission.
U.S. Treasury Secretary Henry Paulson saw for himself on Monday efforts to reverse environmental degradation around China's largest inland lake, taking the spotlight off currency tensions for a day.
The Federal Reserve's latest projections for core inflation signal the U.S. central bank hasyet to be convinced inflation is easing, suggesting monetary policy will stay on hold until it sees more compelling data.
China's trade surplus hit a record $26.91 billion in June from $22.5 billion in May, an increase likely to intensify calls for Beijing to let the yuan climb more quickly.
A deal to free up world trade could be delayed several years if no progress is made by the end of 2007, the United States said on Thursday, as it stepped up criticism of India and Brazil over failed talks.
The Chicago Board Options Exchange, the largest U.S. options market, said it will list options on The Blackstone Group starting on Monday.
In recent years, Washington has been a war zone in more ways than one. Forget homeland security--the partisan crossfire on Capitol Hill has been withering. It has been especially fierce within the committee that’s more important to American business than any other: the tax-writing House Ways and Means Committee. In the last Congress, Republican Chairman Bill Thomas of California and ranking Democrat Charles Rangel of New York were barely on speaking terms.
China has closed 180 food factories after inspectors found industrial chemicals being used in products from candy to seafood, state media said Wednesday.
Four U.S. senators unveiled a long-awaited bill on Wednesday boosting pressure on China to let its currency rise in value after the U.S. Treasury declined to brand the "undervalued" yuan a deliberate trade ploy.
A showdown is looming between the White House and Congress as the Senate prepares to introduce a bill that attempts to force China to loosen the reigns on its currency. Supporters of the legislation like Lloyd Wood from the American Manufacturing Trade Action Coalition say it’s about time for a crackdown, while critics like Daniel Ikenson from the CATO Center for Trade Policy Studies say legislation like this will only lead to an economic and diplomatic rift between the two world superpowers. The two analysts discussed their insights on “Power Lunch.”
World Bank presidential nominee Robert Zoellick said on Tuesday he believed a deal could be clinched in the Doha round world trade talks and that such an accord would give a big boost to development and growth.
Turning the tables on the United States amid growing worries over dangerous Chinese products, Beijing said Friday some health supplements and raisins imported from the U.S. failed to meet China's safety standards and have been returned or destroyed.
G8 leaders called for a prompt conclusion to long-delayed global free trade talks on Friday and the head of the European Commission said they displayed more urgency than in a failed push a year ago.
German companies defied the euro's surge against the dollar to achieve strong export expansion in April, although signs are mounting that the pace of growth has eased, preliminary data showed on Friday.
This meeting of the world's richest nations may be the most challenging one for the U.S. in years, given the growing power of Russia and China.
U.S. Treasury Secretary Henry Paulson said that some agreements made in recent economic talks with China will help create the basis for moving towards a market-determined currency exchange rate, but stressed the effort was a long path of small steps.
To University of Maryland business economist Peter Morici, the disadvantages resulting from U.S. trade with China are clear enough: China's 24% tariff on imports for one, and the United States' $6 trillion external debt resulting from imports for another.
Euro zone quarterly economic growth slowed as expected at the start of the year as consumer demand contracted and export growth plunged, data from European Union statistics office Eurostat showed on Friday.