China calls for calm as trade war fears grow - business live
(The Guardian China)

All the day´s economic and financial news, as investors worry that Donald Trump could trigger a full-blown trade war with ChinaChina central bank chief: don´t panicChina Daily: Trump´s blood lust must be fought 8.31am BST China´s stock market isn´t the only one flirting with a bear market.After days of losses, the Philippines PSI index has fallen almost 20% from its recent peak. Philippine stocks may fall into a bear market as early as today amid record streak of outflows of 23 straight days. $40 billion in value wiped out this year from the country`s biggest stocks pic.twitter.com/eZcFpBGl6j 8.22am BST Donald Trump´s threat to impose more tariffs on China is dominating the newspapers across Asia today.The China Daily newspaper - often a good window into Beijing´s thinking - has accuse the US of trying to hurt the Chinese economy.`Faced with this heightened intimidation from the U.S., China has no choice but to fight back with targeted and direct measures aimed at persuading the U.S. to back off, since it appears that any concessions it makes will not appease the Trump administration, which wants to suck the lifeblood from the Chinese economy.``Beijing will have to ensure that Washington is aware that there will be heavy price to pay every action it strikes against China if it is to avoid being a victim of the Trump administration´s growing blood lust.` A raging fever of nationalism rising in the world´s sole super power sends an alarming signal. Nationalism is a challenge to globalization. Rising nationalism and protectionism could hinder the process of globalization and jeopardize the world order.The US often points an accusing finger at alleged economic nationalism of other countries including China, but now, the reality is that Trump´s truculent nationalism is posing the biggest threat.Epic trade-war front page from Apple Daily pic.twitter.com/8sSzk8IKdQ 8.07am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, ...