WASHINGTON, March 4- Trade unions stepped up their campaign against legislation to streamline the passage of trade deals through the U.S. Congress on Wednesday, appealing to lawmakers to oppose the plan. Nearly 400 union members and allies descended on Capitol Hill to meet with lawmakers on the so-called fast track legislation that would allow Congress to set...» Read More
China has bought more than $1 trillion of American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home, a move that could have painful effects for American borrowers, the New York Times reported.
When American consumers stop buying, companies around the world suffer — even those that do little business in the United States, the New York Times reported.
As the global recession deepens, the news around the world shows how drastic the pullback hits trade between nations. The two poster children for this are China and Japan as their economies are primarily centered around exports.
The developments show how the global financial crisis has torn through the Arab Peninsula, until recently thought immune due to massive sovereign savings and earnings from energy exports, with almost the same violence as in Europe and North America.
Many financial assets across the world are looking cheap after the market ructions of the past year but investors in general have yet to rediscover the impulse to buy.
U.S. President George W. Bush, Chinese President Hu Jintao, Japanese Prime Minister Taro Aso and other members of the 21-nation Asia-Pacific Economic Cooperation group, or APEC, said they would refrain from raising trade barriers over the next 12 months.
China's inflation rate fell further in October, easing pressure on Beijing to contain price rises as it launches a massive stimulus package to boost slowing growth.
China's wholesale price inflation tumbled in October, clearing the way for the central bank to cut rates at any time to support a massive stimulus package aimed at shoring up the world's fourth-largest economy.
U.S. President-elect Barack Obama has pledged to move ahead with the Doha round of world trade talks and to work to strengthen labor and environmental protections in the North American Free Trade Agreement.
Negotiators from Taiwan and China met for their first high-level talks on the island in 60 years on Tuesday, with deals on direct flights, cargo routes and food safety expected to be signed later in the day.
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Australia's current account deficit shrank by a third last quarter thanks to booming resource exports, though trade still proved a slight drag on economic growth.
Total sales at U.S. retailers edged down 0.1 percent in July on another big drop in auto sales, as consumers strain to keep up spending amid rising prices.
An August poll of fund managers showed a shift in favor of U.S. assets with a more positive attitude towards the dollar.
The U.S. trade deficit shrank unexpectedly in June, as the weak U.S. dollar helped push exports higher and overpowered the effect of record-high prices for imported oil, a Commerce Department report showed on Tuesday.
China's economic growth is expected to stabilize in the third quarter, helped by a shift of government policy towards sustaining growth, a major government research institute said on Friday.
Beijing’s ‘Green’ Olympics are going to be one of the most smog-ridden Games ever but this offers tremendous opportunities for clean technology suppliers, where American firms excel.
Talks to rescue a global trade deal got another boost on Sunday with progress towards settling a row over bananas and other long-standing disputes, but concerns grew about China's openness to imports.
A latest round of talks to salvage a global trade deal made "some progress" on Thursday, ministers said but officials said the mood behind closed doors was somber.
South Korean President Lee Myung-bak sacked three ministers on Monday in his first cabinet reshuffle, trying to restore support for his four-month-old government embattled over an unpopular U.S. beef import deal.