Trump slaps 100% tariff on China
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As the global economy stumbles into the fourth quarter, China is increasingly feeling the strain of trade tensions and weak demand at home.
China's economic recovery likely stepped up in the third quarter as consumers returned to shopping malls and major trading partners reopened for business, shaking off the record slump seen earlier this year.
Maybe it’s an electric vehicle with longer-range batteries, an updated artificial intelligence model, or a humanoid robot —but the message is the same every time: China is a tech juggernaut. Some credit China’s economic model.
10don MSN
China’s factory activity contracts for a 6th straight month as trade tensions weigh on the economy
China has reported its factory activity shrank for a sixth straight month in September, the longest slump since 2019.
China's premier Li Keqiang said on Tuesday he expects economic activity in the country can return to a reasonable range next year, after the impact of the coronavirus pandemic on GDP growth in 2020.
The World Bank has upgraded its outlook on China, and expects the economy to grow 4.8% this year - compared to its outlook of 4.0% in April. Julian Evans-Pritchard, head of China economics at Capital Economics,
Beijing and Washington are ratcheting up sanctions and export controls to gain leverage ahead of crucial negotiations, analysts said.
China's Premier Li Keqiang said on Wednesday the global economy faces "many uncertainties and destabilising factors" as it battles the COVID-19 pandemic, and insisted Beijing was committed to its relationship with Britain despite recent tensions.