, need to reassure shareholders they aren’t wasting money – China has been a drag on Starbucks earnings of late. So when IMF chief Kristalina Georgieva said China’s rebound will account for a third of global growth in 2023, “a welcome lift to the world economy,” that was just what the audience wanted to hear.
However, it is not clear how long it will take for domestic consumption to revive. Although President Xi Jinping’s zero-Covid policy was largely abandoned by December, the relief has been concentrated in battered industries like restaurants and movies so far. Imports, a good indicator of domestic demand, declined 10.2% year on year in the first two months of 2023.
As for geopolitics, there are fewer grounds for optimism, leaving CEOs like Apple’s Tim Cook stuck on a tightrope. In public they must be as polite as possible to President Xi Jinping without drawing Congressional attention; in private they are. Anecdotal evidence suggests even in harmless industries like textiles and market research, decoupling is becoming the default American investment thesis.
That said, nothing builds confidence like profit. If China surprises by dramatically boosting internal demand, U.S. executives and their shareholders will be placated. The rest will be up to politicians and diplomats, which is not, alas, reassuring.Apple CEO Tim Cook on March 25 praised China for its rapid innovation and its long ties with the U.S. iPhone maker, Reuters reported citing local media reports.
The agenda includes speeches by key Chinese officials including Vice Premier Ding Xuexiang and finance ministry chief Liu Kun as well as panels featuring foreign business executives, regulators and financial institutions including the International Monetary Fund.
Source: News Formal (newsformal.com)
The US global corporations fed the lizard and now its become the dragon looking for a larger meal.
Breakingviews petesweeneypro “Fool me once …”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taiwan president decries China's 'dollar diplomacy' as Honduras opens ties with BeijingThe president of Taiwan said that her country refuses to 'engage in a meaningless contest of dollar diplomacy with China' after Honduras opened ties with Beijing on Sunday. Trump showed the world a side of America they’d never seen. He destroyed the integrity of every institution in the country while the world watched and now the dysfunctional bully wants to turn the presidency into a mafia style dictatorship 🤦♀️ Good luck keeping old friends! ⚠️⚠️Warning: The Communist Party of China, like the former Communist Party of the Soviet Union, is secretly taking away American security, wealth, freedom, democracy and the rule of law. Xi Jinping hopes to rule mankind. 中國共產黨習近平希望統治人類。
Source: FoxNews - 🏆 9. / 87 Read more »
Honduras cuts diplomatic ties with Taiwan, recognizes ChinaBEIJING (AP) — Honduras has cut diplomatic ties with Taiwan, the Latin American country announced Saturday, saying it recognizes “only one China in the world.” The announcement by Honduras's foreign ministry posted on Twitter, and also reported by China’s CCTV, comes amid rising tensions between Beijing and the United States, including over China’s increasing assertiveness toward self-ruled Taiwan. The Roaring Twenties Axis of Evil is forming fast. Police Misconduct in Warren County KY needs investigated. A special detail maybe? 152248 gmp is a civil rights report by me. Johnathan Buford about police misconduct on April 19, 2022. Lol not a good look Honduras!
Source: AP - 🏆 728. / 51 Read more »
Honduras Establishes Diplomatic Ties with Beijing, Abandoning TaiwanHonduras has established diplomatic relations with China and formally cut ties with Taiwan, leaving Taiwan with just 13 diplomatic partners, mostly small states in Central America and the Pacific ✅
Source: WSJ - 🏆 98. / 63 Read more »
After TikTok chief's grilling in Washington, Apple's Tim Cook is all smiles in BeijingApple's CEO Tim Cook stressed his company's ties with China during his first trip to Beijing in four years. That is according to a report from the Chinese State Media China Daily.
Source: News4SA - 🏆 251. / 63 Read more »
Taiwan breaks ties with Honduras after it switches allegiance to BeijingTaiwan on Sunday announced it was cutting ties with Honduras, one of the island’s only remaining official diplomatic partners. How many Hondurans have reached US soil thru the southern border? China brokers peace in the Middle East, cozies up to Putin and developed ties around the world…Biden is more worried about wokeness
Source: washingtonpost - 🏆 95. / 72 Read more »
Apple CEO Tim Cook welcomed with applause at Beijing conference sponsored by Chinese governmentApple CEO Tim Cook received applause from the audience as he gave an upbeat speech at a tech conference in Beijing sponsored by the Chinese government. 🤮☠️timcook treason Why is any of this surprising or news worthy. We all know those junk phones are made for 80 bucks in China and sold for 1300 in the U.S. probably throwing the kids/employees a pizza party for a job well done this quarter. Where’s that FBI when the country needs them ?
Source: FoxBusiness - 🏆 458. / 53 Read more »