China's export fall in December amid ongoing US-China trade war - Lebanon news - أخبار لبنان
Connect with us
[adrotate group="1"]

Middle East News

China’s export fall in December amid ongoing US-China trade war

New trade numbers from China show the country is feeling the effects of the US-China trade war that started in April last year. According to China’s customs administration, exports fell by 4.4 percent in December, while imports were at the lowest since 2016, the agency announced on Monday. A slowdown in global demand and a…

Published

on

China’s export fall in December amid ongoing US-China trade war

New trade numbers from China show the country is feeling the effects of the US-China trade war that started in April last year.

According to China’s customs administration, exports fell by 4.4 percent in December, while imports were at the lowest since 2016, the agency announced on Monday.

A slowdown in global demand and a trade dispute with the US are being blamed for the current predicament China finds itself in.

Concerns for the years ahead were underlined at a news conference in Beijing

“In 2019, the biggest worry for China’s trade is due to complex and grim external environment,” Li Kuiwen, spokesperson for General Administration of Customs, said during press conference.

“Uncertain and unstable factors are still numerous. Protectionism and unilateralism from certain countries are rearing their heads,” Kuiwen said without naming the United States specifically. 

The new numbers come at the midpoint of a 90-day truce in the trade war between the two largest economies in the world.

And although the two countries have been discussing their dispute, a solution seems far away.

“A delegation from Washington was in Beijing last week to continue negotiations but very few details from the meeting have been released,” Al Jazeera correspondent Katrina You said from Beijing.

“With just 40 days left in the truce, there seems to be no solution in sight.

Analysts say the trade figures could be used by Washington to pressure China.

“I think Beijing clearly knows the pressure that they are under to restore confidence domestically in their leadership but also internationally,” Associate Professor at Fulbright University Vietnam Christopher Balding said.

“Washington will also know that China needs a win and they will be using that to put pressure on them,” Balding, an expert on Chinese economy, added.

Trade surplus with the US

But despite the trade war with the US, China announced it had recorded a trade surplus with the United States of $323bn in 2018.

China’s trade surplus with the United States grew by 17 percent, the highest rate recorded by Beijing in more than 10 years.

China’s exports to the United States grew by 11.3 percent in 2018, year-on-year to $478.4bn, while imports of US goods rose slightly by 0.7 percent compared to 2017. 

The trade war between the US and China started in April 2018 after US President Donald Trump repeatedly slammed China for allegedly devaluating its currency and imposing unfair taxes on American cars.

Trump, who railed against China’s policies during the 2016 presidential election campaign, imposed tariffs on several Chinese products, leading to Beijing to reciprocate, turning the dispute into a trade war that has now lasted for eight months.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

*

code

Middle East News

PIA to start new flights from 3 Pakistan cities to UAE

Pakistan International Airlines (PIA) has announced regular flights to Fujairah from three major cities in Pakistan, Khaleej Times has learnt. The national flag carrier will launch an inaugural flight to Fujairah from Lahore on October 25, while flights from Islamabad and Peshawar will start on October 27. PIA has been increasing operational capacity since the…

Published

on

By

PIA to start new flights from 3 Pakistan cities to UAE

Pakistan International Airlines (PIA) has announced regular flights to Fujairah from three major cities in Pakistan, Khaleej Times has learnt.
The national flag carrier will launch an inaugural flight to Fujairah from Lahore on October 25, while flights from Islamabad and Peshawar will start on October 27.
PIA has been increasing operational capacity since the UAE eased entry restrictions for residents stranded in Pakistan. In August, PIA launched flights from Islamabad, Peshawar, Lahore and Karachi to Ras Al Khaimah.
The national flag carrier has already been operating flights from all major Pakistani cities to different emirates of the UAE, including Abu Dhabi, Dubai and Sharjah.
Airbus-320 joins PIA fleet
Meanwhile, PIA also announced that it has acquired an Airbus-320 on dry lease for six years. This is the third aircraft that will be inducted into the airline’s fleet under the present management.
“Another Airbus-320 reached Islamabad International Airport from French city of Perpignan via Egypt. The aircraft will be inducted in PIA’s fleet in the next few days,” according to a PIA spokesman.

Continue Reading

Middle East News

UAE weather: Fair skies, chance of fog formations

Slide Menus Show/Hide Left Slide Menu Show/Hide Right Slide Menu Show/Hide Top Slide Menu Show/Hide Bottom Slide Menu   Web Report/Dubai Filed on October 24, 2021 hoto by Juidin Bernarrd/ Khaleej Times Light to moderate winds Skies are expected to be fair in general and partly cloudy at times on Sunday. According to the National…

Published

on

By

UAE weather: Fair skies, chance of fog formations

Slide Menus

Show/Hide Left Slide Menu
Show/Hide Right Slide Menu
Show/Hide Top Slide Menu
Show/Hide Bottom Slide Menu

 

Web Report/Dubai

Filed on October 24, 2021

hoto by Juidin Bernarrd/ Khaleej Times

Light to moderate winds

Skies are expected to be fair in general and partly cloudy at times on Sunday.
According to the National Centre of Meteorology, it will be humid by night and Monday morning with a chance of fog or mist formations over some coastal and internal areas.
Residents can also expect light to moderate winds.
The sea will be slight in both the Oman Sea and the Arabian Gulf.

ERROR: Macro /ads/dfp-ad-article-new is missing!

Next Article “);
loadprdlistbelowarticle(“.infinateprdbelow”+startnumber);
loadprdlistinsidearticle(“.nextarticleid”+startnumber);
},
dataType: ‘text’
});
}
};
// Google DFP Ads
var nextSlotID = 0;
function loadInfiniteAd(slotid) {
var forputleftcontent = “.content_right”+slotid+” .forhtmlput”;
$(forputleftcontent).html(” Loading… “);
// var htmlis = $(“.content_right”).html(); //$(forputleftcontent).html(htmlis);
$(forputleftcontent).html(“”);
var slotsidename = ‘nextarticleid’ + slotid;
setTimeout(function()
{
googletag.cmd.push(function()
{
var slot = googletag.defineSlot(‘/78059622/KT_Rectangle/KT_Rectangle_Article’, [[ 300 , 600 ], [ 120 , 600 ], [ 160 , 600 ], [ 300 , 250 ],’fluid’], slotsidename).addService(googletag.pubads());
googletag.display(slotsidename);
googletag.pubads().refresh([slot]);
});
},1500);
var id = nextSlotID++;
var id = slotid;
var sideiframecontent = ”;
$(forputleftcontent).html(“”);
$(forputleftcontent).html(sideiframecontent);
var slotName = ‘infiniteAdSlot’ + id;
var slotName = ‘adslotnew’ + id;
var slotsideName = ‘adslotside’ + id;
// /78059622/KT_Main_Leaderboard/Article_KT_Leaderboard_PageFooter
googletag.cmd.push(function() {
var slot = googletag.defineSlot(‘/78059622/Sports-cricket-microsite-hp-desktop-728×90-above-video-gallery’, [[970, 250], [728, 90], [970, 90],’fluid’], slotName).addService(googletag.pubads());
googletag.display(slotName);
googletag.pubads().refresh([slot]);
//console.debug(“DFP: refresh()” + slotName);
});
setTimeout(function(){
googletag.cmd.push(function() {
var slot = googletag.defineSlot(‘/78059622/Sports-cricket-microsite-hp-desktop-300×250-1′, [[300, 250], [120, 600], [160, 600], [300, 600],’fluid’], slotsideName).addService(googletag.pubads());
googletag.display(slotsideName);
googletag.pubads().refresh([slot]);
//console.debug(“DFP: refresh()” + slotName);
});
},777);
}
});

CurrentRequestUnmodified: /apps/pbcs.dll/article?avis=KT&date=20211024&category=ARTICLE&lopenr=211029641&Ref=AR&profile=1015
macro_action: article,
macro_profile: ,1015,1664
macro_adspot:

 

 

 

 

 

KT App Download

All new KT app is available for download:

Continue Reading

Middle East News

Middle East faced wave of cybersecurity threats since start of pandemic

GAZA CITY: Some hope has returned to Gaza resident Ayman Dahman upon learning that his apartment building, completely destroyed during Israeli airstrikes last May, would be reconstructed. Dahman has despaired over the past months, but Egyptian and Qatari statements regarding the acceleration of the reconstruction process have restored optimism. Dahman and his family of six lived…

Published

on

By

Middle East faced wave of cybersecurity threats since start of pandemic

GAZA CITY: Some hope has returned to Gaza resident Ayman Dahman upon learning that his apartment building, completely destroyed during Israeli airstrikes last May, would be reconstructed.

Dahman has despaired over the past months, but Egyptian and Qatari statements regarding the acceleration of the reconstruction process have restored optimism.

Dahman and his family of six lived in a five-story residential building inhabited by 10 families, in the north of Gaza City.

After its destruction, he moved to live with his son in a small two-room apartment. Once the war ended, he relocated to a rented house, which was paid for by the UN Relief and Works Agency for Palestine Refugees in the Near East.

UNRWA provided $1,500 in rent allowance and $500 for the purchase of basic home furnishings for each victim who lost his or her home during the war.

Dahman said that the Ministry of Public Works and Housing in Hamas-run Gaza contacted him a few days ago to prepare the engineering plans for the building in preparation for reconstruction.

On Oct. 19, the Egyptian Committee for the Reconstruction of the Gaza Strip announced the launch of its first development project in Gaza: the construction of Al-Rasheed Street in Beit Lahia, northern Gaza.

At the same time, head of the Qatari Reconstruction Committee Mohammed Al-Emadi, currently in Gaza, announced that the coming days would witness an acceleration in the reconstruction process.

Hamas had received Egyptian promises during its leadership’s visit to Cairo earlier this month to speed up the pace of reconstruction and to provide trade and economic facilities at the Rafah border crossing between Gaza and Egypt.

After the war, Egypt pledged a grant of $500 million as a contribution to reconstruction and sent engineering delegations to remove rubble in preparation.

Undersecretary of the Ministry of Public Works and Housing Naji Sarhan, said that the Egyptian grant projects include the construction of three residential cities in Beit Lahia; Jabalia, north of Gaza; and the Al-Zahra area, south of Gaza City.

According to the agreement, these three cities will include 2,000 housing units, giving priority to poor and low-income people. The construction of bridges and roads also will be supported.

Sarhan said that Egyptian officials promised — during meetings in Cairo with an official delegation from Gaza about two weeks ago — to start the reconstruction of the residential high-rises soon.

Egyptian crews had contributed to removing the rubble of damaged high-rises, as well as the construction of the first residential city in northern Gaza, he added.

The talks with the Egyptians, according to Sarhan, resulted in an agreement to operate the largest number of local contracting companies.

It was also agreed to import all the materials needed for reconstruction from the Rafah crossing to ensure the operation of local factories and to provide facilities for the movement of contractors and businessmen through the crossing.

The local authorities estimated the direct losses in the Gaza Strip during the war at $479 million.

Sarhan said that the direct losses are related to the destruction that afflicted the housing and infrastructure sector, as 1,500 housing units were destroyed, and 880 units were severely damaged. Hundreds of units were moderately and slightly damaged, with the value of reconstruction estimated at $145 million.

A great deal of damage was also caused to the infrastructure, including public buildings, roads, energy, communications and sanitation, with reconstruction estimated at $293 million.

Losses were also incurred in the sectors of economy, trade, health, education and agriculture, apart from indirect losses caused by the war.

Sarhan estimates that Gaza needs $2 billion in order to revive it after many years of wars and siege.

Palestinians see the latest Egyptian move as coming within a context of coordination with the US administration, which hopes to establish stability in Gaza.

A few days before the Hamas meetings in Cairo, Gaza reconstruction was discussed during talks between Egyptian President Abdel Fattah El-Sisi and US National Security Adviser Jake Sullivan.

Hamas-affiliated columnist Majed Al-Zibda believes that the recent Egyptian meeting with Hamas is consistent with the vision of the US administration, which desires to contain Gaza and ensure stability there so to avoid any deterioration that could lead to new confrontations.

Israeli newspaper Haaretz reported earlier that Egypt and the US were pressuring Hamas and the Palestinian Authority to work on forming a new unity government with the aim of pushing forward long-term stability and the reconstruction of Gaza.

Continue Reading
error: Content is protected !!