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China lacks currency transparency: US

Beijing is not a currency manipulator but China’s exchange rate practices and the yuan’s recent decline are of “particular concern,” US Treasury Secretary Steven Mnuchin said Wednesday. In putting Beijing and five other US trading partners on notice, the Treasury again refrained from escalating a fight over China’s currency as …

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China installing QR codes on Uighur Muslim homes as part of mass security crackdown

China is installing QR codes on the homes of the Uighur Muslimcommunity in order to get instant access to the personal details of people living there, according to a report by Human Rights Watch (HRW). The development comes as part of a mass security crackdownon minorities in Xinjiang province, the charity said, which includes arbitrary detentions, daily restrictions …

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Chinese officials burn bibles, close churches, force Christian to denounce faith amid ‘escalating’ crackdown

The Chinese government is destroying cross, burning bibles, closing churches and forcing Christian believers to sign papers renouncing their faith as the crackdown on religious congregations in Beijing and several provinces intensifies. The suppression of religious freedoms comes as an official government campaign to “Sinicize” religion by demanding loyalty to …

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Trump rejects EU plan to scrap auto tariffs

President Donald Trump on Thursday reportedly rejected as “not good enough” a European Union proposal scrapping tariffs on automobiles, a move which threatens to amplify a simmering trans-Atlantic trade dispute. Just hours earlier, the EU Trade Commissioner Cecilia Malmstroem had said the bloc was “willing to bring down… our car …

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Turkey’s financial crisis raises questions about China’s debt-driven development model

By James M. Dorsey   Financial injections by Qatar and possibly China may resolve Turkey’s immediate economic crisis, aggravated by a politics-driven trade war with the United States, but are unlikely to resolve the country’s structural problems, fuelled by President Recep Tayyip Erdogan’s counterintuitive interest rate theories. The latest crisis …

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Oil up on Iran sanctions

Crude oil prices rose more than 1.0 per cent on Friday as US sanctions against Iran looked set to tighten supply, but futures contracts posted a weekly decline as investors worried that global trade disputes could slow economic growth and hurt demand for energy. Benchmark Brent crude oil settled 74 …

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China tests hypersonic aircraft that can carry nukes, evade missile defense systems, officials say

As trade tensions between the U.S. and China continue to escalate, Chinese officials announced Friday the country tested its first hypersonic flight vehicle capable of carrying nuclear weapons — and allegedly able to penetrate any missile defense system. The China Academy of Aerospace Aerodynamics, run by state-owned space contractor China …

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