Central and local authorities in China have at least 25.1 trillion yuan ($3.65 trillion) unspent in their budgets this year
India needs to make use of this opportunity to significantly enhance its exports especially in information and communications technology (ICT) and the automotive sector
Southeast Asia is now sitting in the crossfire between China and the US
Mahindra Group Chairman Anand Mahindra Wednesday said a wave of Chinese investment in India may be imminent in the wake of intensifying trade war between the US and China. Commenting on reports that US President Donald Trump will meet his Chinese counterpart Xi Jinping next month, in a tweet Mahindra said, "Even if they settle, a Chinese firm with large exports to the US would be wise to hedge & invest in a subsidiary in India & transfer its scale-manufacturing skills." He further said, "Direct exports would simply become indirect. A wave of Chinese investment in India may be imminent..." His comments come at a time when the US-China trade dispute escalated on Monday when Beijing announced levies duty on US products of USD 60 billion. The Chinese move was in retaliation to higher tariff by Washington, which had last week said it planned to impose 25 per cent levies on nearly Chinese products of USD 200 billion. Mahindra also said, "Many Indian companies will take advantage of .
GSP is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries.
Data suggested consumers were now beginning to cut back spending on everyday products, and continued to shun expensive items such as cars
World markets hovered near two-month lows on Tuesday
China could soon start flooding excess steel into its market after the United States raised tariffs on Chinese products due to the escalating trade war, fears Indian industry.
Trump indicated that he was not going back unless China agreed to the negotiated trade agreement between them
China did not mention the United States by name, but it referred to a number of policies clearly associated with Washington
The US President tweeted that companies will be forced to move out of China to save on expenses
Failure of US-China trade talks highlights drawbacks in Trump's trade strategy, which tends to be protectionist, confrontational and negotiated one on one
White House economic adviser Larry Kudlow said China needs to agree to "very strong" enforcement provisions. China said they won't accept anything that harmed it's interests.
As predicted by IMF, the threat to the global economy seems real now. President Trump's focus will also shift to target other countries for such tariff hikes and India will be no exception.
The United States escalated a tariff war with China on Friday by hiking levies on $200 billion worth of Chinese goods.
This amounts to about $ 300 billion. This is in addition to the Chinese imports worth $200 billion on which Trump increased the import duty from 10% to 25%, beginning Friday
US tariff increase on Chinese goods takes effect as officials of both countries start second day of talks.
The Trump administration on Friday increased tariffs on $200 billion worth of Chinese products from 10 per cent to 25 per cent
The hike comes in the midst of two days of talks between top US and Chinese negotiators to try to rescue a faltering deal aimed at ending a 10-month trade war
China, the world's second-largest economy, has some markets levers it can pull to escalate the battle