Prevent capital from some investing in high tech sector investing in high tech sector in china such as Quantum Computing, Artificial Intelligence and advanced semiconductors. The goal is to stop the speed up of technology that could help china develop weapons for use against america in a military context. We put also require firms to make arrangements to report activities. Potentially laying the ground for more restrictions down the road. The regulations are not expected to take effect right away and there will be a period so businesses can weigh in on the proposal. China is the worlds second biggest economy, a vital market for American Companies and the concern expressed by some us executives may explain why this order has not been released until now even though expected back in february. A senior official described the move as targeted saying this is our National Security action not an economic one and adding the us is not decoupling our economy. The move is likely to upset beijing w
China is experiencing a rare episode of sliding prices. Japans economy experienced this back in the 1990s and early 2000s. Now, this comes hot the heels of disappointing china trade data on tuesday, which showed that exports sank at their fastest rate since the pandemic, dropping by more 14 in the year tojuly, with imports also falling by more than 12 in the same period. Joining me now is duncan wrigley, Chief China Economist at pantheon macroeconomics. Thank you very much for being with us today. The Rest Of The World looking on in amazement. Considering the inflationary pressures the rest of us are dealing with. What do you read Between The Lines in this latest data . Between the lines in this latest data . Latest data . Ok, i mean, there are some latest data . Ok, i mean, there are some shortterm latest data . Ok, i mean, there are some shortterm factors i are some short term factors that push down the data for this month, there has been a surge of seasonal vegetables, the big pictu
Limiting investment by American Companies in the chinese tech sector because of Serious National Security risks. It would require us firms to disclose investments in sensitive areas such as Artificial Intelligence and ban some investment altogether. Beijing has reacted angrily saying it is gravely concerned about the order. A spokesperson for the Chinese Embassy in washington says the curbs seriously undermine the interests of chinese and American Companies and investors. Republicans have said they do not go far enough. This is a new front in the tech war between two global superpowers, the restrictions prevent American Private equity and Venture Capital firms from investing in high tech sectors investing in high tech sectors in china, such as quantum computing, Artificial Intelligence and advanced semiconductors. The goal is to stop us capital in know how speeding up the development of technologies that could help china develop weapons for use against america in a military conflict. I
China, such as Quantum Computing, Artificial Intelligence and advanced semi conductors. The goal is to stop us capital and know how from speeding up the developments of technology that could help china for developing weapons for use against america in a military conflict. It would require firms making investments in a broader range of sensitive Chinese Industries to report that activity. Potentially laying the ground for more restrictions on investments down the road. The regulations arent expected to take effect right away, and there will be a Public Comment period so businesses can weigh in on the proposals. China is the worlds second biggest economy. A vital market for american companies. And the concern expressed by some us execs may explain why this order, which was expected back in february, hasnt been release untilled now. Until now. A Senior Administration official described the move as saying that this is a National Security action, not an economic one. Adding that us is not d
Shares in Goldman Sachs fell 2 . The catalyst was moodys, downgrading the Credit Rating on several small and medium sized us banks, including mnt bank and pinnacle financial. The red flags raised by the Ratings Agency included a potential recession, as well as problems tied to the commercial real estate sector. As one analyst put it, any doubts about regional banking is bad for market sentiment. That wasnt helped by data from new york federal reserve, which showed that for the first time, americans owed more than 1 trillion on their credit cards. Traders have also been focused on corporate results, which so far have been better than expected. That was true for lyft, which reported results after the us market closed. Uber s small arrival is forecasting higher revenue in the Third Quarter based in part on a post pandemic rebound in ridesharing. Meanwhile, Electric Vehicle maker rivium posted a narrower lost than expeted and raised its Production Guidance for the full year. Meanwhile, Nin