China would outlast the U.S. in a trade war, which is a “distinct possibility” next year after President-elect Donald Trump takes office, a commentator wrote in the $1 billion Pine River China Fund’s investor letter.
China’s government would be better placed than the U.S. to marshal state resources to cushion the impact on exporters, wrote James Wang, a City University of Hong Kong professor who pens a monthly commentary for the fund. Privately-owned Chinese exporters would be worse hit than state-controlled peers because they have less political clout in Beijing, he said. Continue reading
The Chinese government insists that the economy is sailing smoothly and will achieve its seven-percent growth target, but exports and domestic consumption are slowing.
U.S. downplays Iranian victory to ‘soothe’ fear over deal
Senior Iranian officials are accusing the Obama administration of lying about the details of the recent nuclear accord in order to soothe fears among U.S. lawmakers and Americans about the implications of the deal, which will release billions of dollars to the Islamic Republic while temporarily freezing its nuclear program, according to reports from Iran’s state-controlled media. Continue reading