China’s factory prices (PP) jumped last month despite authorities' continued attempts to curb industrial production to combat pollution. China's PPI rose 6.9% in October Y/Y, higher than the projected 6.6% while consumer prices climbed 1.9%, also higher than the median forecast of 1.8%, and above last month's 1.6% Y/Y increase.
Hours before President Donald Trump landed in Beijing earlier today, news of a potential diplomatic crisis in the making emerged when the Wall Street Journal and other media outlets reported that three UCLA college basketball players had been detained in China for shoplifting.
On Monday, Trump pressed Japan’s Prime Minister and business leaders to reduce the $69 billion trade deficit. A couple of badly made jokes, awkward moments and an unfair singling out of the auto industry later, we expressed our scepticism that the Japanese would do anything after he left (see “Trump Says Trade With Japan Is Not Fair And Not Open – Awkward Moments Ensue” here). Today Trump touched down in Beijing for two days of meetings, including eagerly awaited talks with China’s greatest leader since Mao, Xi Jinping.
Ever since President Donald Trump and Chinese leader Xi Jinping shared a slice of chocolate cake at Mar-a-Lago in April, many have speculated about the burgeoning “bromance” between two of the world’s most powerful men.
Well, if anybody had any doubts about thelr “special relationship”, the opulent welcome that the Trump’s received upon landing in Beijing should put them to rest.
U.S. equity futures are little changed as European and Asian shares retreated, led by sliding bank stocks and a drop in the dollar as doubts over republican tax cuts and ongoing bond curve flattening hurt sentiment and prompted fresh questions over the viability of the US expansion.