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Media Report
November 02 , 2018
  • The Washington Post：Trump and China's Xi give positive signs over phone call but markets give up early gains
    The Washington Post reports: "Stocks sank after the White House denied a report that President Trump had directed aides to draw up a deal to resolve the escalating trade conflict with China. The Dow Jones industrial average jumped nearly 200 points in early trading before surrendering those gains and sinking an additional 300 points. Investors were cheered earlier by a Bloomberg News report that Trump has directed his aides to flesh out a bargain for him to bring to his meeting with Chinese President Xi Jinping later this month at the G-20 summit in Buenos Aires. That report came hours after Trump said in a morning tweet that he had a 'long and very good conversation' with Xi that included a 'heavy emphasis on trade.'"
  • The New York Times：Alibaba Feels the Pinch From China's Slowing Growth
    The New York Times reports: "China's biggest e-commerce company is expecting rockier times ahead, a troubling sign for a vast economy that is one of the world's most important engines of growth. The flagging pace of economic expansion in China and the country's trade war with the United States led the Alibaba Group to cut its estimate of revenue growth for the current fiscal year, which ends in March, by around 5 percent, the shopping giant said on Friday. For the quarter that ended in September, revenue came in at $12.4 billion, a 54 percent increase from a year earlier but less than analysts had expected. 'The global economy is in a state of uncertainty,' Daniel Zhang, Alibaba's chief executive, said in a conference call with analysts. 'The U.S.-China trade tensions create increased risk of instability.' The decision to lower sales expectations was made only recently, the company's chief financial officer, Maggie Wu, said. Economic conditions deteriorated noticeably in just the past month, she said. 'Merchants are facing challenging times,' she said."
  • TIME：13 Dead After Angry Passenger Causes Bus to Plunge Off 160-Foot Bridge in China
    TIME reports: "A bus plunged off a bridge in China, killing at least 13 people on board after a passenger appeared to attack the driver, video released to Chinese media shows. A search and rescue operation was launched on the Yangtze river near Chongqing in southwest China on Oct. 28. The bus drove off the bridge, which is 160 feet above the river. There were no reports of survivors. There were 15 people on the bus, authorities said. The bodies of 13 people were recovered; two remain missing. Video of the incident released Friday appears to show a passenger striking the driver in the face, prompting him to hit back before veering into oncoming traffic and barreling through barriers on the side of the bridge. The footage cuts out at that point, but screams of passengers can be heard." 
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