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Trade News Archive: 20 November - 26 November
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As well as providing fresh news reports every day, AmericanEconomicAlert.org offers a uniques news rating system. Each news item below has been given a rating from 1 to 5 stars, depending on its importance and relevance to U.S. international economic and trade policy.
 

Tuesday, November 25, 2014

Monday, November 24, 2014
Currency Wars Reignite As Yuan Tumbles Most In 2 Months And Chinese Bond Market Freezes
Zero Hedge

• Comment: "Did China just re-enter the currency wars? The Chinese Yuan dropped 0.29% overnight - its biggest drop since September and 2nd biggest devaluation since March - as the currency tumbles back in line with the PBOC's fixing for the first time in over 3 months."
Falling Wages at Factories Squeeze the Middle Class
New York Times

• Comment: "He is still working with his hands, assembling seats for Chevrolet Cruze cars at the Camaco auto parts factory in Lorain, Ohio, but now he makes $10.50 an hour and is barely hanging on. “I’d like to earn more,” said Mr. Eberhardt, who is 49 and went back to school a few years ago to earn an associate’s degree. “But the chances of finding something like I used to have are slim to none.”
On Bangladesh Factory Fire Anniversary Victims Demand Compensation from Western Companies
Industry Week

• Comment: "New York-based Human Rights Watch said each victim had received 100,000 taka (US$1,267) from the government and a manufacturers' association, but they had spent most of the money within the first year of the disaster on medical costs."
TEXAS MANUFACTURING ACTIVITY POSTS SLOWER GROWTH
Dallas Fed

• Comment: "Other measures of current manufacturing activity also reflected slower growth during the month. The capacity utilization index fell sharply from 18.1 to 9.8. The new orders index also declined notably from 14.2 to 5.6, although more than a quarter of firms continued to note increases in new orders over October levels. The shipments index was 12.1, nearly unchanged from its October reading."

Sunday, November 23, 2014
U.S. export lender hands over documents to Congress
Reuters

• Comment: "Senior Republicans issued a subpoena this month to force the export lender, which conservative lawmakers would like to close down, to provide complete transcripts of meetings of its board of directors and audit committee."
For Trade Deal with U.S., E.U. Official Reinforces Plans to Press Ahead
New York Times

• Comment: "Negotiations for the Transatlantic Trade and Investment Partnership, a pact aimed at lowering tariffs and reducing regulatory barriers to encourage job creation and economic growth in Europe and the United States, began last year but have yielded few results after seven rounds. They have been effectively frozen during the midterm elections in the United States and a leadership changeover at the European Commission, the executive arm of the European Union."

Saturday, November 22, 2014
CNH layoffs begin
Milwaukee Business Journal

Friday, November 21, 2014
NSA Says Chinese Cyber Attacks Could Shut Down U.S. Infrastructure
Time

• Comment: "At a hearing of the House intelligence committee, Rogers said U.S. adversaries are performing electronic “reconnaissance” on a regular basis so that they can be in a position to disrupt the industrial control systems that run everything from chemical facilities to water treatment plants."

Thursday, November 20, 2014
Panel predicts China will keep confronting US
Fox News

• Comment: "Shea said the trip improved the atmospherics between the U.S. and China, but fundamental problems remain. He cited continuing Chinese state-sponsored cyberespionage; an increasingly hostile environment for U.S. business in China; and Chinese military modernization aimed at least in part at countering the U.S. military in the Pacific."
U.S. Congress urged to consider sanctions on Chinese cyber-spies
Reuters

• Comment: "Congress should ask U.S. trade officials to report on whether they had power to sanction companies that benefited from stealing trade secrets, the U.S.-China Economic and Security Review Commission said in its annual report to Congress."
US Manufacturing PMI Misses By Most On Record, Lowest Since January
Zero Hedge

• Comment: "November's Flash US Manufacturing PMI printed a 10-month lows 54.7, missing expectation sof 56.3 by the most on record and tumbling for the third month in a row. The last 2 mnths have seen the biggest drop since June 2013 ands as Markit notes, suggests a further drop in GDP growth expectations of only 2.5% in Q4. "