UK to allow Huawei to operate 5G networks
UK prime minister Boris Johnson's government has announced, despite advice to the contrary by US President Donald Trump's administration, that Chinese telecom giant Huawei will be granted a role in the country's growing 5G network, with some restrictions. The decision comes as 3 out of the UK's 4 telecom providers have already signed agreements with Huawei, making the Chinese company's involvement inevitable.
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After TikTok, Trump indicates banning Alibaba, other Chinese firms in US
WASHINGTON: US President Donald Trump has indicated that he was looking to ban other Chinese-owned companies, including e-commerce giant Alibaba in the United States, days after signing an executive order targetting TikTok's parent company, ByteDance, an American TV channel reported. These banned clones include Tiktok Lite, Helo Lite, SHAREit Lite, BIGO LIVE Lite and VFY Lite.
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Indiatimes
Gold prices dropped 6%, the worst single-day decline in seven years
Gold prices fell more than 6% yesterday, the worst one-day decline in seven years as investors’ risk appetite returned, boosting U.S. stocks. Spot gold tumbled as much as 6% to $1,927.30 per ounce, down sharply from Friday’s record intraday high of $2,089.20. On Wednesday morning during Asia hours, spot gold fell further, last trading at $1880.16
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China’s exports jumped 7.2% against an estimated 0.2% fall
Dollar-denominated exports in China jumped 7.2% year-on-year, economists at Reuters predicted a fall of 0.2%. In July, China posted a trade surplus of $62.33 billion, beating the $42 billion economists had expected. China’s trade surplus was $46.42 billion in June. Despite the coronavirus pandemic hitting global demand, exports from China have held up as exports in medical supplies jumped in the first half of the year
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CNBC
China tries to find a new economic partner in South Korea
According to the latest media reports, South Korea and China are set to hold bilateral talks on the economy later this week. The talks will be held on Saturday in Qingdao, eastern China, where deputy ministers of the two sides will hold annual economic cooperation talks, South Korea’s Yonhap news agency said. The meeting comes amid escalating China-US trade and security tensions
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AA