SoylentNews is people
SoylentNews
The South China Morning Post reports that China and the United States have agreed on an arrangement for trade between the two countries to be liberalised.
US credit rating services, electronic payment services and bond underwriting business are now all allowed in Chinese market.
[...] Under this agreement, China will accept beef from the US into the Chinese market, effectively ending the 14-year ban on American beef after an outbreak of mad-cow disease in [the] US in 2003.
Reciprocally, [the] US will allow Chinese cooked chicken to [be sold] in the American market.
The deal also provides for Chinese banks to operate in the United States, and for liquefied natural gas from the United States to be sold in China.
This discussion has been archived.
No new comments can be posted.
U.S. and China Make Trade Agreement
|
Log In/Create an Account
| Top
| 24 comments
| Search Discussion
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
Moon, n.:
1. A celestial object whose phase is very important to hackers. See
PHASE OF THE MOON. 2. Dave Moon (MOON@MC).
(Score: 2, Funny) by Anonymous Coward on Sunday May 14 2017, @12:36AM (2 children)
There's a fatal lack of trust in the Chinese banking system at the moment. A lot of loans are made on rehypothecated collateral, and nobody's sure what's backing what. A lot of loans end up non-performing, too. The state has had to step in several times to try to impose order. It looks like the Chinese have figured out that Americans know how to privatize trust-building through credit rating agencies and would like some help getting shit under control.
(Score: 0) by Anonymous Coward on Sunday May 14 2017, @01:58AM
> the Chinese have figured out that Americans know how to privatize trust-building through credit rating agencies
Really? The US credit rating agencies were implicated in the great recession, weren't they?
{googles}
Ah yes, it's been turned into an entry, https://en.wikipedia.org/wiki/Credit_rating_agencies_and_the_subprime_crisis [wikipedia.org]
I think this is a great thing to export to China....muuhahaha!
(Score: 3, Informative) by butthurt on Sunday May 14 2017, @04:43AM
> [...] rehypothecated collateral [...]
In case anyone else is unfamiliar with the term:
Rehypothecation is the practice by banks and brokers of using, for their own purposes, assets that have been posted as collateral by their clients.
-- http://www.investopedia.com/terms/r/rehypothecation.asp [investopedia.com]
http://www.icmagroup.org/Regulatory-Policy-and-Market-Practice/repo-and-collateral-markets/frequently-asked-questions-on-repo/10-what-is-rehypothecation-of-collateral/ [icmagroup.org]