Welcome to the 221st edition of Trade War.
Surprise rate cuts aim to boost growth. Manufacturing numbers show strength, and in a first, Beijing earmarks bonds to boost lackluster consumption through trade-in program.
In his farewell speech, Biden weighs in on US-China competition. The GDP gap between number one America and number two China widens. And perhaps fearful of comparisons with Xi, Beijing censors article calling for US president to step down.
Apple is no longer among the top five smartphone sellers in China. And global luxury brands start to feel the spending pinch.
Notable/In depth ~
Russian and Chinese bombers fly near Alaska
China’s Third Plenum calls for easing restrictions on use of rural housing
Relaxed sit downs with China’s economic officials thing of past
Surprise rates cuts aim to boost economy
In a surprise move, China’s central bank has cut a number of key lending rates over the last week, in an effort to boost growth.
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