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Media Report
June 04 , 2019
  • The New York Times reports, "Business is normally bustling at the sprawling Xinfandi produce market in southern Beijing, where stores, restaurants and thrifty shoppers buy their fruits and vegetables in bulk. But more apple sellers were napping than hustling one recent afternoon. The price of apples had nearly doubled, to roughly $1 per pound, and people were spending their money elsewhere. 'Whoever eats apples these days must be loaded,' said Li Tao, who has been selling apples for more than 20 years. Migrant workers used to be able to afford apples, he said. 'Now it's too expensive,' Mr. Li said. Already grappling with a slowing economy and President Trump's trade war, Beijing now has to worry about the rising price of food. It is not just apples. Other fruits and vegetables are more expensive. The price of pork has jumped as the country deals with a devastating swine fever epidemic. Chicken, beef and lamb prices have been creeping up, too."
  • Reuters reports, "The sudden deterioration in trade talks between the United States and China last month has ratcheted up concerns among U.S. firms that the dispute could go beyond tariffs and affect business in the long-term. Business associations and consultants say they have been fielding a growing number of inquiries from companies about how best to navigate the trade dispute. They expect those calls to intensify after FedEx Corp over the weekend became embroiled in U.S.-China frictions and an ongoing spat over Chinese tech giant Huawei. Further rattling nerves are Beijing's plans to unveil an unprecedented hit-list of 'unreliable' foreign firms, groups and individuals that harm the interests of Chinese companies. China's commerce ministry announced the move on Friday without singling out any country or company."
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