Autor Tema: PPCC: Pisitófilos Creditófagos. Primavera 2024 (Leído 232816 veces)

asustadísimos · « **Respuesta #1905 en:** **Hoy** a las 04:17:53 »

DÍA IMPORTANTE, ESTE 18 DE MAYO DE 2024, 50.º ANIVERSARIO DE LA BOMBA ATÓMICA INDIA.—

Al anglo y al gorrión, perdigón.

¡'Prevail' del ucraniano —de cosaco ruso colonizador de Siberia— sobre el anglo! Y no ha sido tan 'a los puntos' como parece.

'Alea jacta est'.

Empieza simbólicamente el Hostión-2025, que es un proceso determinado por la ignominia del Occidente más occidental, iniciada con el 'bréxit', seguida de Trump y coronada con Milei.

En el Oriente más occidental, el presidente de la Internacional Socialista ha asestado una combinación de 'jab' y 'uppercut' a la mandíbula moral de la señorita Ayuso, con lo que ha convertido en 'prosanchezista' cualquier intento de operación interna de saneamiento de la fecalidad de la ex-'hactibo' electoral defenestradora de máximos dirigentes de su partido político:
https://www.youtube.com/watch?v=jexEzGZFld8

Que conste que a nosotros nos interesa no porque sea una poneboquitas a la que le hiede el aliento, sino porque Ayuso es Hostión-2025 quintaesenciado y, precisamente, en el centro de todos los centros inmobiliarios españoles ('Mierdrid'); encima, con vocación atlántica y americana, es decir, con 'prevalence' del epicentro del Hostión-2025 mundial (min. 02:01):
https://www.youtube.com/watch?v=Oi1DUyZU_yg&t=121s

¿En qué creen ustedes que piensa Ayuso cuando pronuncia la frase «defensa de la propiedad»? Ahora sabemos que, en este 'discurso de cervecería' (cfr. la 'Bürgerbräukeller' de Múnich), la sinvergüenza ya sabía que trascendería su carencia de escrúpulos. Incluso se veía haciendo cola los días de vis a vis.

Cadavre Exquis · « **Respuesta #1906 en:** **Hoy** a las 06:48:18 »

https://x.com/diasasaigonados/status/1791827470078910853

Saludos.

Cadavre Exquis · « **Respuesta #1907 en:** **Hoy** a las 06:56:23 »

https://x.com/KobeissiLetter/status/1791818808908296275

Saludos.

Derby · « **Respuesta #1908 en:** **Hoy** a las 10:32:07 »

https://www.ft.com/content/14dc656c-9a26-4c0b-aca5-b0893e7dcfaf

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Are the US and Chinese economies really about to start ‘decoupling’?

Experts say Biden’s tariffs on Chinese clean tech goods are not the trade-war move some fear

Few Washington experts considered the new US measures to be either a ‘decoupling’ or to mark the outbreak of a new trade war © FT montage/Shutterstock/Getty

Just over a year ago, US Treasury secretary Janet Yellen argued in a speech that Washington was not trying to decouple from China, saying a “full separation” of the economies would be “disastrous” for both countries.

A week later, US national security adviser Jake Sullivan borrowed a phrase from European Commission president Ursula von der Leyen in saying the US was pursuing a policy of “de-risking” and not decoupling.

The rhetoric was designed to rebut Chinese criticism that the US was taking actions, such as technology-related export controls, to constrain China’s rise.

The Biden administration officials wanted China to understand that the US would continue to take measures to protect national and economic security, even as the countries tried to stabilise relations that had hit rock bottom after a suspected Chinese spy balloon flew over the US.

The testy relationship came into focus again this week, when President Joe Biden sharply raised tariffs on imports of Chinese electric vehicles and other clean energy products.

Beijing accused the US president of reneging on his pledge “not to seek decoupling from China”, while critics accused Biden of pandering to blue-collar workers in states such as Pennsylvania and Michigan — critical electoral battlegrounds in November’s presidential election.

Others asked if the Democratic president was using tariffs as a weapon in an attempt to look tougher on China than Donald Trump, his Republican rival in this year’s White House race — who launched a trade war on China in 2018 and has recently pledged to hit all the country’s imports into the US with a 60 per cent levy.

While Washington experts debated the merits of using tariffs to protect US industry, few considered the measures announced this week to be either a “decoupling” or to mark the outbreak of a new trade war.

Emily Kilcrease, a trade expert at the Center for a New American Security think-tank, said the higher levies announced on Monday on EVs and other clean tech products including batteries was an “intensification of the de-risking agenda”.

De-risking is a term covering everything from reducing security threats from Beijing to diversifying US dependence on Chinese supply chains.

Biden had targeted sectors at the centre of US-China competition, she said, but had added a novel factor with tariffs. “The default policy tools, such as export controls, are utterly ineffective in technology areas where China already has significant capacity and . . . overcapacity in some cases.”

Clete Willems, a former White House trade official in the Trump administration, had a different term that reflected the new measures’ tailored focus on certain sectors.

“The juxtaposition between full decoupling and merely de-risking is too broad of a gap,” he said. “This is strategic decoupling.”

One trade expert said the best interpretation of the tariffs was simply that Washington was trying to stop China from getting a foothold in parts of the US’s emerging clean energy sector © Chen Bin/VCG/Reuters

Until Monday, Biden had largely focused on security-related measures to stop China from acquiring advanced US technology, such as semiconductors. Sullivan described this narrow strategy focused on key sectors, such as artificial intelligence, as a “small yard, high fence” approach.

The question for some on Tuesday was whether Biden was changing tack in an appeal to the blue-collar voters he and Trump are courting across the US industrial rust-belt.

Following a statutory review of the tariffs that Trump had put on $300bn worth of Chinese goods during his trade war, Biden — who had criticised the tariffs when they were introduced — kept the levies in place, but added the others on clean energy products.

Willems said: “What you are seeing is a lot of symbolism that is clearly politically driven.”

US President Joe Biden raised tariffs on imports of Chinese electric vehicles and other clean energy products this week © Zhu Haipeng/VCG/Reuters

Emily Benson, a trade expert at the Center for Strategic and International Studies think-tank, said it was important to look at each product that was targeted in Biden’s new tariff regime. Deterring imports of EVs, for example, was hardly an instance of decoupling given the Chinese auto sector and US economy “were not significantly intertwined to begin with”.

Doubling the tariff on Chinese semiconductors to 50 per cent would likewise have limited impact because the US imported few of the chips. By contrast, any targeting of finished products that included chips would marked a new move to decouple.

Brad Setser, a trade expert at the Council on Foreign Relations, said the best interpretation of the tariffs was simply that Washington was trying to stop China from getting a foothold in parts of the US’s emerging clean energy sector.

“It was designed to avoid ‘coupling’ in sectors that historically have not been integrated, like autos where China hasn’t been a major source of supply to the US,” Setser said. “Since it doesn’t cover the rest of trade, it doesn’t seem to me likely to result in further decoupling.”

Derby · « **Respuesta #1909 en:** **Hoy** a las 11:53:18 »

https://www.ft.com/content/27a1864b-53e8-4c8c-afdc-b7763ed42363

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Dollar rally falters as falling inflation raises hopes of rate cuts

US currency on track for first negative month of the year after end to months of above-forecast CPI data

Recent falls in inflation mean investors have raised their bets on the Fed delivering two quarter-point rate cuts this year © Bloomberg

A rally in the US dollar this year has gone into reverse as investors bet that falling inflation in the world’s largest economy will give the Federal Reserve more room to cut interest rates.

The greenback, which had gained as much as 5 per cent this year by mid-April against a basket of currencies, is now on track for its first down month of 2024 after the rate of consumer price inflation eased in line with forecasts on Wednesday.

The reading, after months of higher than expected inflation, has helped allay fears that the Fed may not be able to cut rates much this year, or may even have to raise them again from a 23-year high to control price growth.

“Fed pricing matters more than anything else in markets at the moment,” said Athanasios Vamvakidis, head of G10 foreign exchange strategy at Bank of America.

“The inflation data this week meant another rate hike is off the table . . . now it’s just a matter of time until they start cutting,” he added.

Investors had a major rethink on the path of interest rate this year as US inflation rose in both February and March. That helped lead traders to drastically reduce bets on rate cuts, while hedge funds tore up their bearish bets against a resurgent dollar.

But after Wednesday’s reading showed a fall in inflation to 3.4 per cent, traders have raised their wagers on the Fed delivering two quarter-point rate cuts this year.

The dollar suffered its worst day of the year on Wednesday. Despite a partial rebound later in the week, it is still down 1.4 per cent this month.

Line chart of US dollar performance against a basket of six currencies (%) showing Dollar rally falters

Analysts say the recent softening of US data, which started early this month when a critical jobs report undershot expectations, could be the start of a sustained period of dollar weakening, although given the economy is still relatively robust any declines could take time.

“I think we are at a turning point but we are going to faff around here for some indeterminate period of time,” said Kit Juckes, a foreign exchange strategist at Société Générale. “The dollar bull is running short of arguments for the next leg higher.”

The dollar has weakened alongside a fall in US government borrowing costs, which has helped drive stock markets in the US, Germany and the UK to record highs this week.

The benchmark 10-year US Treasury yield — a key driver of asset prices across the globe — has fallen to 4.3 per cent, having reached 4.7 per cent late last month, as traders have raised bets on more than one Fed rate cut this year. Yields fall as prices rise.

This month’s dollar weakening follows a recent build-up of bets against the currency among hedge funds, which started selling the currency last month and have become “firmly short”, according to Sam Hewson, head of foreign exchange sales at Citigroup.

Asset managers, however, maintain their overweight positions, Hewson said. When their positioning differs from hedge funds, “historical patterns suggest . . . it is best to be short” the dollar, he added.

The recent moves come as welcome news to central bankers around the world, who have been struggling to deal with rising US Treasury yields and the dollar’s persistent strength. That has particularly been the case in Japan, where the ministry of finance is thought to have sold around $59bn of dollars in recent weeks to support its ailing currency.

“A weaker dollar makes life a little bit easier for Tokyo,” said Chris Turner, a currency strategist at ING, pointing out that the Japanese currency is more sensitive to shifts in US rate expectations than to rising borrowing costs in its own market.

The evaporation of expectations for a possible US rate rise could also increase room for manoeuvre at the European Central Bank which is widely expected to start cutting interest rates in June.

ECB President Christine Lagarde has been clear that Europe can start lowering borrowing costs ahead of the Fed. But if the US central bank were to raise rates again this year while rates come down in Europe, that could put the bloc’s currency under significant pressure and risk stoking inflation.

“The latest US data is good news for the ECB,” said BofA’s Vamvakidis. “It means the ECB can cut in June without being too concerned the euro would weaken.”