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Trade News Archive: 18 October - 24 October
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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.
 

Thursday, October 23, 2014
US Manufacturing PMI Tumbles, Biggest Miss In 14 Months
Zero Hedge

• Comment: "But the world has been printing such great PMIs? And the US is the new engine of global growth? So how did US Manufacturing PMI just print 56.2, 3 month lows, and its biggest miss since August 2013? Following China and Europe's lead, US is latest PMI print with collapsing New Orders (57.1, down from 59.8, lowest since January), Output, and New Export Orders. This is the biggest 2-month drop in US PMI since May 2013."

Wednesday, October 22, 2014
China iCloud Attack Could Be State-Sponsored Hacking
Time

• Comment: "GreatFire said the hackers involved with the iCloud breaches used servers accessible by only state-run organizations and Chinese authorities, a sign the attacks had the blessing of such authorities. The hack came just as the iPhone 6 was released in China after a delay over the government’s security firms."
Dan DiMicco's solution for what ails U.S. economy? Manufacturing
Charlotte Business Journal

• Comment: "We need to give up on the idea that we're in a service economy and that making things in this country is no longer important to GDP, he says. Instead, manufacturing and construction are keys to a healthy economy. "We have to become a nation that innovates, makes and builds things," he says. But manufacturing generates only about 11 percent of U.S. GDP today, down from 30 percent in 1974."

Monday, October 20, 2014
Report: U.S. furniture industry poised for turnaround
Triad Business Journal

• Comment: "The U.S. furniture industry is starting to rebound from the recession in terms of sales and orders, according to a new report."
Plastics manufacturer to close Houston plant
Houston Business Journal

• Comment: "Pexco LLC, which designs and fabricates specialty plastic parts, plans to close its northwest Houston facility, affecting 40 jobs."
Stop Smokin The Import Crack…
Zero Hedge

• Comment: "What if the Chinese would like to make sure that the Yuan fluctuation, which is seemingly regulated by the government, remains low for the benefit of the Chinese? The Chinese are merely looking for a pathway to keep the currency low to promote the goods produced in China as financially attractive as possible. With some esoteric currency plays and good ole fashioned financial engineering, it’s possible and already in play. "

Sunday, October 19, 2014
What China Means by ‘Rule of Law’
New York Times

• Comment: "This is not to say that China is about to abandon its preoccupation with “social stability,” which too often means silencing or imprisoning peaceful dissenters and activists who blow the whistle on some of the country’s many woes, including environmental degradation, abuses of power and needless policies against Tibetans and Uighurs."