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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Alibaba is set to raise $5 billion through a dual currency bond deal. The company is also planning to issue offshore yuan tranches with maturities of 3.5 years, 5 years, 10 years, and 20 years, according to the term sheet.
Goldman Sachs has revised its 2025 economic growth forecast for Australia down to 1.8%, from 2%, due to anticipated negative effects from the Trump administration's proposed tariffs on China. The firm highlights the potential impact on exports from Australia's largest trading partner as a key factor in this adjustment.
UBS forecasts the EUR/USD exchange rate to range between 1.05 and 1.12 in 2025, with a target of 1.12 by year-end. While current USD strength is supported by expectations of US tax cuts, the bank anticipates a medium-term decline in the dollar due to diverging rate cut expectations and deteriorating fundamentals. Recovery potential is seen for the euro, pound, and Swiss franc, aided by improved conditions outside the US.
UK Prime Minister Keir Starmer is set to meet Chinese President Xi Jinping on Monday, aiming to improve UK-China relations to boost economic growth. Starmer emphasized the importance of China as a major trading partner and plans to engage in serious, pragmatic discussions during the Group of 20 summit in Brazil.
The APEC summit in Lima concluded with leaders, including US President Joe Biden and China's President Xi Jinping, discussing regional economic strategies amid concerns over the future of global free trade under an incoming Trump administration. Biden's late arrival for the traditional family photo highlighted the awkwardness of the moment, as he took his place at the back of the group. The atmosphere reflected a fragile spirit of detente that may not be replicated in the coming years.
During a meeting at the APEC Summit in Lima, Xi Jinping urged President Biden to maintain stable U.S.-China relations, emphasizing the importance of cooperation amid concerns over the incoming Trump administration's protectionist policies. Biden highlighted the significance of candid dialogue to prevent miscalculations and conflict, while also pressing Xi to influence North Korea's actions amid rising tensions. The leaders discussed various issues, including China's support for Russia and cybersecurity threats, as they navigated a complex geopolitical landscape.
U.S. President Joe Biden and Chinese President Xi Jinping are set for a tense meeting in Lima, Peru, amid rising tensions over cybercrime, trade, Taiwan, and Russia, just before Donald Trump's inauguration. The leaders aim to stabilize relations during this transition, as China seeks to ease tensions and strengthen ties in Latin America. Meanwhile, Biden's trade policies and Trump's proposed tariffs pose significant challenges to U.S.-China relations.
China's ambition for a "powerful currency" faces challenges with Donald Trump's potential return to power, which could lead to significant tariffs on Chinese goods. Analysts predict the yuan may break a 17-year low against the dollar by 2025, with a possible 10% decline, as economic conditions worsen and foreign investments dwindle. The People's Bank of China may support the yuan temporarily but could allow depreciation if a trade war escalates to safeguard exports.
China's ambition for a "powerful currency" faces significant challenges with Donald Trump's potential return to the presidency. Analysts predict the yuan could experience downward pressure, possibly breaking a 17-year low against the dollar by 2025, with some forecasting a decline of around 10%.
Goldman Sachs predicts that the yuan will continue to decline as President-elect Donald Trump prepares to impose tariffs on Chinese exports, potentially igniting a trade war. Strategists estimate that tariffs on these exports could increase by an effective rate of 20 percentage points early in his administration.
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