19.3 C
New York
Sunday, May 25, 2025

Buy now

Home Blog Page 109

China Tries to Downplay the Trade War’s Effects on Its Economy

0


China’s leaders have sent a clear message about the effects of the Trump administration’s sweeping tariffs: Things will be painful, but it is nothing that the country cannot handle.

A commentary on Sunday in the Communist Party mouthpiece, the People’s Daily, said Beijing had prepared for a trade war with the United States and that China could potentially come out stronger as a result.

“The abuse of tariffs by the United States will have an impact on China, but ‘the sky will not fall,’” it said. “China is a super economy. We are strong and resilient in the face of the U.S. tariff bullying.”

The commentary highlighted how China hopes to position itself as the tariffs cause growing economic disruption. It wants to be seen as a responsible champion of fair trade that is too powerful to succumb to U.S. pressure.

China also sought to project solidarity with other nations targeted by U.S. tariffs in another state media commentary on Sunday.

In that piece, China accused the United States of trying to “subvert the existing international economic and trade order” by putting “U.S. interests above the common good of the international community.” Washington was also advancing “U.S. hegemonic ambitions at the cost of the legitimate interests of all countries,” it said.

China’s projection of relative strength belies the grave harm the Trump administration’s tariffs could potentially inflict on the country.

Mr. Trump is bidding to transform a global trading system that China currently dominates. And exports remain the strongest engine for growth at a time when China is trying to dig itself out of a property crisis and tackle other major economic problems.

Despite that, the People’s Daily commentary argued that China was prepared to weather Mr. Trump’s tariffs because it was no longer as reliant on the U.S. market for its exports. It also said China’s banks were well capitalized and had room to inject more money into the domestic economy. And it argued that it can hit back at the United States with an array of new regulatory tools.

Some of those tools were used on Friday when China responded to Mr. Trump’s tariffs by putting 11 American companies on an unreliable entities list, and another 16 on an export control list. It also announced export controls on medium and heavy rare earths. That was in addition to slapping U.S. goods with tariffs of 34 percent to match duties imposed on Chinese goods.

China has been trying for months to engage in high-level talks with the Trump administration in preparation for a potential summit between Mr. Trump and China’s top leader, Xi Jinping. But Beijing has struggled to receive much of a response from the White House despite Mr. Trump saying earlier this year that he was open to engaging with Mr. Xi.

China’s responses to two other rounds of 10 percent tariffs imposed by the United States earlier this year were calibrated to leave the door open for negotiations. Some analysts said Friday’s countermeasures were also designed that way.

The People’s Daily commentary said China “did not close the door for negotiations,” but that it would also prepare for the worst. It said the looming crisis would compel China to continue reforming its economy to rely more on its vast domestic market.

“We must turn pressure into motivation,” it said.

For all its bravado about withstanding the American tariffs, China was also censoring criticisms of its own move to impose retaliatory tariffs.

On Friday, a researcher at the Chinese Academy of Social Sciences wrote on social media that China’s countermeasures were “completely wrong.”

“The United States is shooting itself in the foot by tariffs, so we should not shoot ourselves in the foot as well,” wrote the researcher, He Bin, who was deputy director of the academy’s Center for Public Policy Research. “The correct countermeasure is to implement unilateral zero tariffs on imports from all countries.”

Mr. He posted the comment on his personal WeChat Moments, which are visible only to his friends and somewhat akin to a private Facebook page. But a screenshot of the post quickly began circulating more widely.

Then, on Sunday, the Chinese Academy of Social Sciences announced that it was shutting down the center where Mr. He worked. It did not give a reason for the closure but cited internal regulations around the management of research centers. Those regulations state that centers, among other things, “must adhere to the correct political direction.”

Screenshots of Mr. He’s comment were also grayed out on Weibo, another social media platform.

The center may already have been under intense scrutiny: Its director, Zhu Hengpeng, was detained and removed from his posts last year after allegedly making comments critical of Mr. Xi in a private group chat, The Wall Street Journal reported in September.

On Chinese social media, nationalist commentators cheered the center’s closure and linked it to Mr. He’s comments. “Resolutely support the spirit of the central government’s directive!” wrote a military blogger with 4 million followers on Weibo.



Source link

Michigan prodigy sends shockwaves to Alabama and Ohio State as Sherrone Moore unveils bold plans for Bryce Underwood’s electrifying future

0


A burst of excitement has been ignited on the gridiron, as a Michigan sophomore redefines expectations and challenges powerhouses with a blend of raw talent and charismatic presence.

Emerging Talent with a Commanding Presence

Standing at an imposing 6-foot-5 and weighing 261 pounds, this edge rusher combines physicality with a bold personality that immediately marks him as a looming threat. His presence on the field is not just a testament to his size; it reflects a confident energy that seems to echo through the stadium during critical moments. Though he may not be slated as the starter this season, his role is assured within a tactical system that values depth, rotation, and the unpredictable spark of emerging stars.

Strategic Vision and Team Dynamics

The Michigan team’s philosophy is rooted in a dynamic rotation system that ensures every moment in the game is charged with energy. Rather than relying on a fixed lineup, the team’s innovative approach allows for a constant infusion of talent that keeps opponents on edge. While the spotlight may not shine on him from the very first snap, every appearance by this rising star is designed to make a statement. His sporadic yet impactful contributions embody a calculated risk taken by a coaching staff that believes in nurturing potential while maintaining competitive intensity.

A Bold Blueprint for Future Success

Behind the scenes, a visionary leadership is at work. Plans that envision an electrifying future for standout players are unfolding, with strategic decisions that signal a new era of competitive ambition. The blueprint is clear: leverage the unique attributes of promising athletes to send a strong message to traditional heavyweights. When one coach remarks that “big moments are built on the courage to innovate,” it encapsulates a philosophy that prizes individual brilliance as a catalyst for collective triumph. These forward-thinking strategies are not just about immediate gains but are about laying the foundation for sustained excellence.

Impact on Rivals and the Broader Landscape

The emergence of this prodigious talent has not gone unnoticed by top competitors from rival programs. In a sport defined by nuance and split-second decisions, his presence fuels a sense of urgency among leading teams. The excitement generated by his potential is a reminder that even established orders must adapt in the face of rising talent. His impact reverberates beyond individual games, challenging legendary programs to recalibrate and respond to the evolving dynamics on the field.

A Reflective Look to the Future

As the season unfolds, the narrative of a determined underdog with undeniable talent offers both a strategic blueprint for teams and an inspiring reminder of what grit, strategy, and innovation can achieve. His journey is emblematic of the broader aspirations of a program willing to take calculated risks to carve out a legacy. In the world of competitive sports, where every snap tells a story, this sophomore’s bold emergence is a compelling forecast of future greatness, heralding a new chapter defined by vision, dynamism, and relentless drive.



Source link

‘Ugly’ Monday Crash Warning As Sudden $1.3 Trillion Crypto Price Meltdown Hits Bitcoin, Ethereum, XRP, Solana And Dogecoin

0


Bitcoin and crypto prices have fallen sharply, catching up with stocks that plunged in the aftermath of Donald Trump’s so-called Liberation Day of global tariffs that could become a “crisis scenario.”

Front-run Donald Trump, the White House and Wall Street by subscribing now to Forbes’ CryptoAsset & Blockchain Advisor where you can “uncover blockchain blockbusters poised for 1,000% plus gains!”

The bitcoin price has plummeted under $77,000 per bitcoin, down more than 10% from its high of almost $90,000 last week. Ethereum, XRP, solana, dogecoin and other major coins have dropped even more sharply, taking the value wiped from the combined crypto market since January to $1.3 trillion.

Now, as Wall Street braces for a Congress crypto game-changer, traders are scrambling to figure out if the sudden bitcoin price correction could escalate into a full-blown market crash.

Sign up now for the free CryptoCodexA daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run

Forbes‘Existential Threat’—Wall Street Suddenly Braced For A Bitcoin And Crypto Price Game-Changer

“Bitcoin has recently lost the key $79,000 to $80,000 support level, which it had managed to hold for the past month,” Charlie Sherry, head of finance and crypto analyst at BTC Markets, said in emailed comments.

“This support level had marked the bottom of the range after the all-time-high pullback. The next key support lies around $72,000, which was the pre-election high.”

The Sunday bitcoin price decline has been outpaced by 15% drops for ethereum, XRP, solana and dogecoin over the last 24 hours.

“Sometimes crypto movements on Sunday tell you what stocks are going to do Monday. If that is the case, Monday could be ugly,” Geoffrey Kendrick, Standard Chartered Bank’s head of crypto, said in emailed comments.

Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious

Forbes‘Flood The Market’—‘Major’ Fed Flip Predicted To Blow Up The Bitcoin Price

Looking further ahead, Sherry names “a potential shift in Trump’s stance or emergency intervention by the Federal Reserve” as two things that could help the bitcoin price climb back over $80,000.

Last week, traders upped their bets that the Fed will be forced to cut interest rates to stave off a U.S. recession—something that could see the market “flooded” with dollars.



Source link