There's a huge move up in the Futures this morning simply because ;China said they wished to resolve the trade dispute with a "calm" attitude. ; I've never seen a market move up and down 1{01de1f41f0433b1b992b12aafb3b1fe281a5c9ee7cd5232385403e933e277ce6} on words before.
- “We firmly reject an escalation of the trade war, and are willing to negotiate and collaborate in order to solve this problem with calm attitude,” Gao Feng, spokesman for China’s Ministry of Commerce, says Thursday, according to a CNBC translation of his Mandarin-language remarks.
- Gao noted the Chinese and U.S. trade delegations have maintained “effective” communication.
- But he did not confirm U.S. President Donald Trump’s claim on Monday that the Chinese team called the U.S. over the weekend with the desire of reaching a deal soon.
So that's hitting the headlines but, ;as I'm sure you read in the People's Daily ;(Government Publication) this morning:
US risks losing big for fighting trade war with China
The trade war has already affected both sides. However, all you need to do is look at the videos of Chinese shoppers crowding the aisles of the Costco store in Shanghai to know that the United States has a lot to gain from greater cooperation with China and a lot to lose if it erects a wall between the world’s two largest economies.
China saying they firmly reject an escalation of the trade war ahead of Trump's plans to escalate the trade war…
SOURCE: Phil’s Stock World – Read entire story here.
