Asian markets rallied Friday as another broadly positive week drew to a close, with investors cheered by a report that the United States (US) was considering lifting tariffs on China as officials look to hammer out a trade deal.Optimism that the world's top two economies are on course to reach a deal ending their long-running trade row has helped boost equities across the world this year.And while news that the US was carrying out a criminal probe into Chinese tech giant Huawei caused a

The relocation of production bases from China to ASEAN is perhaps the most notable benefit of the ongoing US-China trade war for the region.

Trade conflict between the world's two largest economic powers already is inflicting collateral damage and threatens to do yet more harm to the global economy, the World Bank warned Tuesday.And the global slowdown is beginning as government and corporate debt rise, especially among the poorest countries, while mounting interest rates increase borrowing costs, the bank said in its semi-annual Global Economic Prospects report.The report was markedly more pessimistic than a year ago – when

President Xi Jinping hailed China's "reconstructive reforms" in a New Year speech, but the sorely needed changes could be put on ice in favour of averting a potentially devastating economic downturn.The way ahead is further complicated by a volatile trade dispute with the United States (US) that – if unresolved – will add to the burden of Beijing’s policymakers as they seek to fuel an economy that is running out of steam.Beijing has for years come under pressure to introduce mu

Apple cut its revenue outlook for the latest quarter Wednesday, citing steeper-than-expected "economic deceleration" in China and emerging markets.The rare revenue warnings from Apple suggested weaker-than-anticipated sales of iPhones and other gadgetry, in part because of trade frictions between Washington and Beijing.Apple shares slid some 7.6 percent in after-hours trade on the news.The company slashed its revenue guidance for the first fiscal quarter of 2019, ended 29 December,

China’s economic performance in 2018 was rather disappointing. According to official statistics, the country’s growth rate up to the end of the third quarter was 6.7 percent, the lowest since the global financial crisis. The real situation was probably even worse.A lack of progress on institutional reform, together with obstacles to structural adjustment, have been fuelling doubt among many foreign and domestic observers about China’s growth prospects.

In 1950, the Canadian-born Princeton University economist Jacob Viner explained a customs union produces a “trade creation” effect, as lower tariffs and non-tariff barriers spur increased flows of goods among member countries. But Viner noted that a customs union also generates a “trade diversion” effect, as countries that are not part of it face reductions in their trade with countries that are.

China heads into the new year with its factories back in contractionary territory as the threat of a prolonged trade war dampens sentiment and stimulus struggles to gain traction.The manufacturing purchasing managers index dropped to 49.4 in December, the weakest since early 2016 and below the 50 level that denotes contraction.

A United States (US) government delegation will travel to Beijing in the week of 7 January to hold trade talks with Chinese officials, two people familiar with the matter said.Deputy US Trade Representative Jeffrey Gerrish will lead the Trump administration’s team, which will also include Treasury Under Secretary for International Affairs David Malpass, according to the people, who spoke on the condition of anonymity.

Sadly, 2018 will not be remembered as a year of political and diplomatic success. Though the international order had already begun to erode in 2017, the global political environment became downright chaotic, combustible, and hostile this year.