While China has been banging the nationalist drums in its government-owned tabloids, warning daily of the adverse consequences to the US from either a trade war, or from Trump's violating the "One China" policy, a more tangible concern for deteriorating relations between China and the US is that Trump could, and most likely will, brand China a currency manipulator shortly after taking over the the Oval Office.
Around the time Taiwan's president Tsai Ing-wen, who last month infamously spoke to Trump putting the long-standing "One China" policy in jeopardy, made a controversial stopover in Houston, China's state-run tabloid Global Times warned U.S. President-elect Donald Trump that China would "take revenge" if he reneged on the one-China policy.
European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards. Oil dropped below $54 a barrel on Iran supply concerns, while gold rose 0.6% to $1,180.
While Russia continues to mostly mock and ridicule, and generally take in good humor, the constant allegations by the Obama administration that it "hacked the election", without actually hacking the election - as in actually rigging or changing the votes - but merely exposing the corruption of the DNC and the cronyism of the Clinton Family Foundation, even if so far the highly confident US "intelligence agencies" have yet to demonstrate a shred of proof substantiating such allegations, China's reaction to a similar accusation has demonstrated far less sense of humor.
The heavy exodus of the Chinese renminbi from mainland China put pressure on the country’s economy. In an effort to stymie the outflow, the Peoples Bank of China (PBOC) enacted new rules that are meant to help it exert more control over its currency…and that could spell trouble for the Canadian real estate market!
A CANADIAN REAL ESTATE “BUBBLE”