Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning (Mon - Thu 8 to 9 a.m.; Fri 8 to 8:30 a.m.) on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
China’s State Council said on Friday it would impose new tariffs ranging from 5% to 10% on US$75bn of US products. Beijing also said a 25% tariff will be imposed on US cars and a 5% levy on auto parts and components from December 15.
President Trump reacted furiously and, in a tweet, ordered American companies to pull out of China. He said tariffs on $250 billion of Chinese imports will be raised to 30% from 25% from October 1. Other Chinese imports that were set to have 10% tariffs from September 1 will now have 15% tariffs. China said on Saturday it would continue fighting the trade war with the USA “until the end”.
President Trump also lashed out at Federal Reserve Chairman Jerome Powell after his speech at the Jackson Hole gathering of central bankers failed to give a clear commitment to further rate cuts. He tweeted, “as usual, the Fed did NOTHING! My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Mr. Powell gave his strongest warning yet of the damage the trade war was doing to the global economic outlook. He said the US central bank didn’t have adequate tools to counter the rising business and investor anxieties arising from the dispute.
On today’s Money Talk are Alex Wong at Ample Capital and Anthony Chan from Union Bancaire Privée. Providing the view from the mainland is Brock Silvers at Kaiyuan Capital. After 8:30, we discuss AI in China with Nina Xiang of the China Money Network. Also joining us is Alicia Garcia-Herrero from NATIXIS to talk about the risk of capital flight from Hong Kong as a result of the protests.
26/08/2019 - 8:09 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, says that investors are retreating from Hong Kong stocks, and with the escalation of the US-China trade dispute, people will start pulling back from China A-shares as well.
Anthony Chan, Chief Asia Investment Strategist from Union Bancaire Privée, says that the escalation of trade tensions could lead to damaging non-tariff measures such as preventing companies from operating and it will also hurt China's global financing power.
26/08/2019 - 8:24 View from China
26/08/2019 - 8:34 AI in China
26/08/2019 - 8:47 Capital Flight from HK & PEG Ratio
The Trump Administration has delayed the introduction of an additional 10% tariffs on some Chinese goods until 15 December. Products that have been given the three-month reprieve include laptops and cellphones and represent more than half of the US$300 billion of products originally affected.
Anti-government protesters have caused flights to be suspended at Hong Kong International Airport for a second day and protestors involved in violent clashes with the police. The airport has been the site of protests for five consecutive days. Earlier in the day Hong Kong Chief Executive, Carrie Lam, issued a fresh warning to protesters. She said Hong Kong had "reached a dangerous situation" and that violence during protests would push it "down a path of no return".
On today’s Money Talk, we have with us Stewart Aldcroft of CitiTrust, Mark Michelson from IMA Asia and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood. After 8:30, we talk with Antony Dapiran, Hong Kong-based writer and lawyer and Author of “City of Protest: A Recent History of Dissent in Hong Kong.” We also look at how China is investing in infrastructure across the Belt & Road corridor with Ada Li from Moody's Investors Service.
14/08/2019 - 8:09 Business & Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, has an optimistic view of the US-China trade talks, after The Trump Administration postponed some of the tariff increases on Chinese goods to December.
Mark Michelson, Chairman of Asia CEO Forum of IMA Asia, comments that Japan may work on some mini agreements that do not require congressional approval in order to move forward in reaching a US-Japan trade deal.
RTHK’s International Economics Correspondent Barry Wood says the reason for the tariff delay is to protect consumers during the Christmas shopping season.
14/08/2019 - 8:34 HK Protests - Change of Tactics
14/08/2019 - 8:48 China Overseas Infrastructure Investment