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China's economy slows in first quarter: AFP survey

China's economy slows in first quarter: AFP survey

China's exports to the USA increased 14.8 percent from a year earlier in January-March period, spokesman Huang Songping told a briefing in Beijing, while imports from the US also rose 8.9 percent. "Like the USA, it's becoming more driven by domestic demand every year".

Politics are another part of the story, the report of Sacramento Bee mentioned since neither California nor Washington voted for Trump in the electoral college and the two states both clashed with the White House on a number of contested policies, such as immigration and environmental regulations.

Places like Dongguan, with large clusters of grittier industrial plants, are especially vulnerable.

Expansion of 6.8 percent in the first quarter would match the pace of growth in the last three months of 2017 and be just a fraction off the 6.9 percent recorded for a year ago.

"The business community worries about escalation of trade tensions, this idea of tit-for-tat that has characterized the past couple of weeks has been troubling", said Jake Colvin, vice president of the National Foreign Trade Council, a pro-trade business group.

Early this week Xi delivered a major speech in which he promised to reduce import tariffs on USA autos and loosen restrictions on investment from United States companies, which frequently are required to enter joint ventures as a minority owner in exchange for access to the Chinese market.

"The customer will have to pay 30 to 35 per cent more".

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Graphic Bloomberg

While businesses share the concern about China's behavior "the question that we wrestle with is how to make things better and not worse". "We just have to go with the flow".

On Wall Street, stocks were mixed Friday, but Asian financial markets sank on concern the escalating tensions might disrupt the biggest global trading relationship or lead other nations to raise import barriers.

"China attaches great importance to developing relations with India and we would like to work together to implement the consensus reached by leaders, stick to the right path of the bilateral ties, accumulate more positive energy, explore new areas for cooperation and ensure sound and steady development of bilateral ties", Hua added. Both countries have the world's fastest growing economies and it is pragmatic to use that as leverage on the global strategic chessboard.

The jobs at stake in Alameda Country are largely linked to Tesla's Fremont factory, Los Angeles and San Diego counties also employ thousands of people in aircraft manufacturing, as well as pharmaceuticals. Such a practice could technically be illegal. We believe that expanding market access can play a vital role in increasing our agricultural trade surplus.

In response to the announcement, the Taiwan Ministry of Defense issued a statement in which it said that its military forces had the situation under control and that they could guarantee the security of the autonomous island, which China claims as part of its territory.

This week it also hosted a global business forum that included a smattering of world leaders, among them Philippine President Rodrigo Duterte, whose country is a U.S. treaty ally and has overlapping claims with Beijing in the South China Sea. "He's already pissed off enough people there".