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China's Leaders to Discuss Economic Growth Targets and Stimulus Measures
China's top leaders are preparing for the annual central economic work conference on December 11-12 to discuss the GDP growth target and stimulus measures amid economic challenges. While the 2025 growth target is expected to remain around 5%, persistent issues like a housing downturn and weak domestic consumption continue to pressure the economy. Recent stimulus efforts, including interest rate cuts and a $1.4 trillion debt relief package for local governments, aim to bolster growth, but trade tensions with the U.S. and potential tariffs from the incoming Trump administration pose additional risks.
China's industrial profits fell by 10% in October, following a 27.1% decline in September, highlighting ongoing deflation concerns despite government stimulus efforts. In the first ten months, profits decreased by 4.3%, while the consumer price index rose only 0.3%. However, retail sales grew by 4.8%, and the unemployment rate improved to 5%.
european markets open lower as investors react to trump tariff plans
European markets are set to open lower as investors react to potential tariff increases from President-elect Donald Trump, who plans to impose a 10% tariff on all Chinese goods and 25% on products from Mexico and Canada. Gold prices fell nearly 3.5% following these announcements, while buyback strategies in Europe continue to show strong performance despite the overall market gloom. Meanwhile, the Dow Jones and S&P 500 reached all-time highs, buoyed by optimism surrounding Trump's Treasury pick, Scott Bessent.
asia pacific markets decline as trump plans new tariffs on imports
Asia-Pacific markets declined as President-elect Donald Trump announced plans to impose a 10% tariff on all Chinese goods and a 25% tariff on products from Mexico and Canada starting January 20. In contrast, small-cap stocks surged, with the Russell 2000 index reaching a new all-time high, driven by expectations of favorable conditions for smaller firms under Trump's administration. Meanwhile, Japan's service producer price index rose to 2.9% in October, reflecting increased costs in postal and hotel services.
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