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Fake news? White House Economic Advisor Larry Kudlow said that discussions between China and the United States were still ongoing. He denied the Financial Times' information that the US administration had refused to meet with its Chinese counterparts this week in Washington before the arrival of the Chinese vice prime minister on 30 and 31 January. The Sino-American negotiations are therefore still on the right track, although Trump is intransigent on some issues, such as intellectual property protection and forced technology transfers.
Davos. Mike Pompeo, on video conference from Washington, spoke to the WEF participants. He spoke of an "interesting time" when people have chosen to take "new directions", referring to Brexit, "the rise of the 5 Star Movement in Italy", the election of Macron in France, Bolsonaro in Brazil or Trump in the United States. The US Secretary of State believes that globalization is a good thing, but that it is necessary to create "robust alliances", to set up "secure borders" as well as on "growth-enhancing policies".
At the WEF. Jair Bolsonaro assured that the Brazilian economy wanted to open up to the rest of the world. Participants at the Economic Forum expressed support for more tax justice "but" under certain conditions, and for the time being, no one seems to really agree. A subject on which experts seem to agree: the global economy is not at risk of recession. Regarding the second largest economy, "China is slowing down but it will not be a disaster," said a senior Chinese official.
Some shady areas in Japan. In 2018, Japan recorded a trade deficit (which had not been the case since 2015) of 1203.3 billion yen, or about 9.2 billion euros, compared to a surplus of 2907.2 billion in 2017. Exports declined, partly due to lower demand from China (its main trading partner), which was hit hard by trade tensions with the United States. At the same time, imports increased, affected by the increase in purchases of oil and natural gas. In addition, the Bank of Japan has decided to lower its inflation forecast to 0.9% (from 1.4% previously) for the next budget period, which begins in April 2019. Despite these few clouds on the horizon, the rating agency Fitch confirmed on Wednesday its long-term debt rating of "A" and its "stable" outlook, referring to "solid external finances".
In other news. Despite growth prospects revised downwards by the European Commission and other international institutions, Italy does not intend to change its 2019 budget. Tomorrow, the US Senate will try to agree on a text aimed at putting an end - at least temporarily - to the shutdown that has begun its second month. The unemployment rate fell by 0.1 percentage point in the United Kingdom to 4.0 % (from 4.1% in November). For Michel Barnier, the chief negotiator of Brexit, the British authorities "need time". He believes that an orderly agreement will generally comply with the Treaty.
Davos. Mike Pompeo, on video conference from Washington, spoke to the WEF participants. He spoke of an "interesting time" when people have chosen to take "new directions", referring to Brexit, "the rise of the 5 Star Movement in Italy", the election of Macron in France, Bolsonaro in Brazil or Trump in the United States. The US Secretary of State believes that globalization is a good thing, but that it is necessary to create "robust alliances", to set up "secure borders" as well as on "growth-enhancing policies".
Had a chance to address the global leaders gathered at @wef from a frosty DC. Shared my thoughts on America’s, and much of the world’s, return to time-tested truths: strong nationhood, secure borders, sturdy alliances, and pro-growth policies. #WEF19 pic.twitter.com/VPh7b2wgES
— Secretary Pompeo (@SecPompeo) 22 janvier 2019
At the WEF. Jair Bolsonaro assured that the Brazilian economy wanted to open up to the rest of the world. Participants at the Economic Forum expressed support for more tax justice "but" under certain conditions, and for the time being, no one seems to really agree. A subject on which experts seem to agree: the global economy is not at risk of recession. Regarding the second largest economy, "China is slowing down but it will not be a disaster," said a senior Chinese official.
Some shady areas in Japan. In 2018, Japan recorded a trade deficit (which had not been the case since 2015) of 1203.3 billion yen, or about 9.2 billion euros, compared to a surplus of 2907.2 billion in 2017. Exports declined, partly due to lower demand from China (its main trading partner), which was hit hard by trade tensions with the United States. At the same time, imports increased, affected by the increase in purchases of oil and natural gas. In addition, the Bank of Japan has decided to lower its inflation forecast to 0.9% (from 1.4% previously) for the next budget period, which begins in April 2019. Despite these few clouds on the horizon, the rating agency Fitch confirmed on Wednesday its long-term debt rating of "A" and its "stable" outlook, referring to "solid external finances".
In other news. Despite growth prospects revised downwards by the European Commission and other international institutions, Italy does not intend to change its 2019 budget. Tomorrow, the US Senate will try to agree on a text aimed at putting an end - at least temporarily - to the shutdown that has begun its second month. The unemployment rate fell by 0.1 percentage point in the United Kingdom to 4.0 % (from 4.1% in November). For Michel Barnier, the chief negotiator of Brexit, the British authorities "need time". He believes that an orderly agreement will generally comply with the Treaty.
