Archives of “August 2020” month

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Trump to give TikTok’s Chinese owner 45 days to reach deal to sell

  
  Analysis

TikTok and Microsoft are in talks for the sale of the app. Plenty of chatter about during the Asian morning on this.

  • Reuters report that Trump has agreed to give China’s ByteDance 45 days to negotiate the sale
  • Reuters citing two unnamed sources
Its not just TikTok in Trump’s sights says Pompeo (speaking Sunday):
  • US to widen action against Chinese tech groups beyond TikTok

Japan final Q1 GDP -0.6% q/q

  
Analysis, Economy
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January to March economic growth data from Japan. Old, old news by now.

  • GDP sa q/q -0.6%, prior -0.6%
  • GDP annualised sa q/q -2.2%, prior -2.2%
  • GDP nominal q/q -0.5%, prior %
  • Private consumption -0.8% q/q, prior -0.8%
  • Business spending +1.7%, prior +1.9%

Yen unchanged.

German Minister of State for Europe Roth says there will be “no business as usual” between EU & China

  
  Analysis
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Michael Roth, German Minister of State for Europe in an pinion article in German news magazine Der Spiegel

  • will be “no business as usual” between the European Union and China following the assertive political moves on Hong Kong
  • urged fellow EU nations not to “be afraid to lock horns” with Beijing.
    referred to China by its autocratic political structure, casting it as a systemic rival that has “unfortunately” challenged Europe’s “foundation of values”
Via South China Morning Post, link here for more (may be gated).
china Germany

China’s Global Times says “New cold war will not stop US decline”

  
  Analysis
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An opinion piece in state news organ Global Times

  • What is deeply worrying is the unpredictability, volatility and desperation of Trump. Driven by his fear of losing the presidential election in November, Trump sees nothing is off the table as far as he is concerned. Anything is possible. 
Of course, there is plenty more, link here
Over the weekend Pompeo spoke of further action against Chinese firms:
  • US to widen action against Chinese tech groups beyond TikTok

An opinion piece in state news organ Global TimesI think I am going to have find a cartoon of Xi and Trump engaged in a more violent sport rather than this tame effort.

US to widen action against Chinese tech groups beyond TikTok

  
  Analysis

The Trump administration says it’ll “take action” in a matter of days against a wider swathe of Chinese software

US secretary of state Mike Pompeo spoke on Sunday
  • “These Chinese software companies doing business in the United States, whether it’s TikTok or WeChat – there are countless more . . . are feeding data directly to the Chinese Communist party, their national security apparatus”
  • “President Trump has said ‘enough’ and we’re going to fix it and so he will take action in the coming days with respect to a broad array of national security risks that are presented by software connected to the Chinese Communist party.”
We might hear more on this when Trump jets back in from his weekend golfing.
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