China

Trump’s Declaration of War

Paul Craig Roberts

President Trump’s brief inaugural speech was a declaration of war against the entirety of the American Ruling Establishment. All of it.

While the US public and global markets will be transfixed by the events in Washington today, Trump's emerging nemesis in the upcoming trade wars, China, has decided to avoid the event altogether. According to the FT, Beijing's infamous censors have ordered media outlets to mute their reporting of Trump’s inauguration "as the Communist party continues to weigh its response to a new administration that has threatened to tear up the rule book of US-China relations."

Global shares were mixed, equity futures, the dollar and crude rose as investors focused their attention on today's inauguration of Donald Trump as U.S. president. While the early tone is well bid, some traders anticipate a volatile session, with speculation that a bout of "sell the inauguration" could cap the aging Trump rally, which started with his inauguration.

Amid constant liquidity additions, record credit support, a devaluing currency, and admission that the last three years of macro data was fabricated; China ended 2016 with the worst economic growth since 1990...

China's macro data avalanche was a mixed bag. The headline GDP grew more than expected (+6.8% YoY) but Industrial Production disappointed and while retail sales rose more than expected, fixed asset investment growth missed.

Via The Daily Bell

 

Xi portrays China as global leader as Trump era looms … China will build a "new model" of relations with the United States, President Xi Jinping said on Wednesday in a speech that portrayed China as the leader of a globalized world where only international cooperation could solve the big problems. -Reuters

With Trump focusing on domestic problems, China is stepping up to become an international moderator and consensus builder.