Products like coal and timber, but in not all restrictions have been restricted. Some remain on items like lobster and wine. I spoke to clive russell, who explains whats changed between beijing and canberra. The Centreleft Labor government was replacing the right wing government. That allowed a reset of relations between beijing and canberra which had been rocky. There had not been benefit for other party from the action china took. It cost china a lot of money to buy coal and barley from other places, so it wasnt really a win for them and it didnt hurt australia as far as australias miners were able to find alternate markets and didnt suffer that much at all. You said some tariffs remain but there are other sticking points in a relationship so is it possible they could go back to where they were or is a relationship on its way to recovery . China will always have difficulty with human rights and democratic freedoms and things like that. It is well understood by both sides who come fro
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I strongly disagree with fitchs decision, and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data, and fails to reflect improvements across a range of indicators, including those related to governance that weve seen over the past 2. 5 years. Other democrats used the downgrade as an opportunity to point the finger at republicans for their role in the recent debt limit fight. While republicans blame joe biden and democrats for trillions of dollars in new spending. Many economists dismiss the downgrade, including Jp Morgan Chase ceo jamie diamond, who called it ridiculous and said that the decision ultimately didnt really matter. And he may not be wrong. Us treasuries, that is government ious, remain the bedrock of the Global Financial system, despite this latest knock to the reputation. Expectations are high that it will raise rates again. If so, it could take the cost of borrowing up to a 15 year high. Consumer inflation has come down more than expected
Lets look at what this materials move means for the rest of the world. The consensus is that will be damaging not fatal for the United States. The reason china dominate the market is not because it is the only place where gallium and germanium exists, but because it is by far the cheapest place you can get them from. You dontjust dig them up from the ground, they are derived from a more complicated Reduction Process and china has that capability. So governments and businesses will have to rely on cheaper substitutes and alternative sources. It means prices will go up, it means some products might be less effective and some production right be delayed. So this sort of poses a bit of an existential thread for western industry, its the gradual erosion of capability. But in a broader sense this threatened the overall narrative of globalisation, the idea that International Markets will be able to deliver what you need, when you need it at the price that you need. Derisking is what western g
Americans love of lattes and iced coffee helped starbucks through the worst of the post pandemic years. But with high inflation in the us, a cup of coffee is now 5 on average. The big question for investors going into this Earnings Season was would consumers still spend money on elaborate coffees . The answer was mixed. Sales in North America grew 7 , even after the chain raised prices. That figure was below wall streets forecast. Customer traffic only increased by 1 . Most of the gains came from existing customers spending more money. Sales in china, its second biggest market, rose sharply. Same store sales increased a whopping 46 from a year ago. Starbucks remains a favorite brand among chinese consumers. The company benefiting from a rebound after strict covid 19 restrictions were lifted. But the coffee chain said that Wage Increases and investment in its cafes dragged down its overall profits. Starbucks ceo laxman narasimhan, who took over from predecessor Howard Schultz in march,