Overseas Headlines-February 13, 2020

February 13, 2020

United States:

Trump’s Nafta Rewrite Heads for Its Last Stop — Ottawa

“When President Donald Trump signed the U.S.-Mexico-Canada-agreement at the White House in late January, he said a variation of the word “thanks” 54 times in 37 minutes to people in attendance who helped him do the deal. But there’s one more favor he needs from someone who wasn’t in the room: Canadian Prime Minister Justin Trudeau. That’s because USMCA has a final gauntlet to run — Canada’s parliament — before anyone can fully claim credit for updating Nafta.”



Europe’s Slow Recovery From Factory Slump Hit by Coronavirus

“European weak economic growth is set to continue this year, the bloc’s executive said, warning that a deadly viral outbreak could further damp the outlook. A month after a U.S.-China deal offered hope for global trade and industry, the coronavirus that’s killed more than 1,000 people in China and crippled parts of the country’s manufacturing capacity has pushed the world into a new crisis. The European Commission singled it out as a “key downside risk.”



China Navigates the Latest Threat to Its Debt-Fueled Boom

“For a decade, hedge fund managers and short sellers have unfurled dire and bold warnings about potentially catastrophic losses in China’s financial system. Jim Chanos, famous for predicting the 2001 collapse of Enron Corp., memorably said in 2010 that China’s reliance on real estate for growth was a “treadmill to hell.” Since then, prominent institutions and investors, including the International Monetary Fund and George Soros, have pointed to a long list of problems in China’s financial system, from indebtedness and banking stress to shadow loans and housing bubbles. Now there are concerns about how the outbreak of a new coronavirus in China might hurt banks. Not to mention the risks of a trade war lumbering into another year and social unrest in Hong Kong.”


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