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US jitters at China's tech push underlies trade war

US jitters at China's tech push underlies trade war

Technology
Shenzhen is the poster boy for China's economic progress. Forty years ago it was just a cluster of small villages lying across the water from bustling Hong Kong, before it was designated China's first "special economic zone".Now it's a city of some 11 million people and a technological powerhouse - the next Silicon Valley, according to many. Image: The technological powerhouse of Shenzhen is viewed as the next Silicon Valley That also means it's the front line in the incipient US-China tariff war, which is as much about technology as it is trade.:: China accuses 'hoodlum' Trump over trade warShenzhen built its name on manufacturing cheap electronics for export.Huaqiangbei is an electronics market that sprawls across st...
Where investors should hide out during a trade war

Where investors should hide out during a trade war

Finance
Those seeking protection against an intensifying trade war between the United States and its economic allies should buy shares of domestic, consumer-facing companies, according to investors. Utilities — classic defensive plays with domestic-only markets — could also benefit if this is a prolonged conflict, some said. Others are sticking with the hot small cap trade in the face of this escalating conflict. With both Beijing and Washington slapping each other with $ 34 billion in new tariffs Friday, some market strategists voiced concern a ...
US-China trade war begins as tariffs worth $34bn take effect

US-China trade war begins as tariffs worth $34bn take effect

Business
Media playback is unsupported on your device US tariffs on $ 34bn (£25.7bn) of Chinese goods have come into effect, signalling the start of a trade war between the world's two largest economies.The 25% levy came into effect at midnight Washington time.China has retaliated by imposing a similar 25% tariff on 545 US products, also worth a total of $ 34bn.Beijing accused the US of starting the "largest trade war in economic history". "After the US activated its tariff measures against China, China's measures against the US took effect immediately," said Lu Kang, a foreign ministry spokesman. Two companies in Shanghai told the BBC that customs authorities were delaying clearance processes for US imports on Friday.The American tariffs are the...
Trump tariffs: US escalates trade threats to China

Trump tariffs: US escalates trade threats to China

World
US President Donald Trump has threatened to impose tariffs on an additional $ 200bn (£151bn) of Chinese goods in a growing trade row. Mr Trump said the 10% tariffs would come into effect if China "refuses to change its practices".The threats would be a major escalation of the dispute and sparked further falls on stock markets.China responded by accusing the US of "blackmail", raising fears of a full-blown trade war.Its commerce ministry said the country would take "qualitative" and "quantitative" measures and "fight back firmly" against additional tariff measures by the US government. Mr Trump insists that China has been unfairly benefiting from a trade imbalance with the US for years. ...
Investors fret about a trade war, but they aren't fleeing the stock market

Investors fret about a trade war, but they aren't fleeing the stock market

Finance
At a conference held by a top investment bank in Manhattan last week, attendees were asked to submit what they thought was the biggest risk to the global economy. When their concerns showed up on the conference screen, these words were the most popular: Trump, trade war and protectionism. Outside, meanwhile, the stock market was having another up day. In recent weeks, against the expectations of many on Wall Street, investors have not run for the exits as President Trump has stepped up trade brawls with China, Canada and the European Union. On Friday, when the Trump administration and China announced tit-for-tat tariffs on $ 50 billion of goods from each c...