Japanese consumers stocked up on necessities or splurged on luxury goods before April 1, when sales tax increased for the first time since 1997 from 5 to 8 percent. Tax revenues will help combat deflation and tackle the country’s $10 trillion public debt.
Chinese President Xi Jinping is wrapping up his official European tour. His hosts have pampered the head of state and his 200-strong business entourage as the two economic blocs work towards a multi-billion dollar free trade agreement.
Western sanctions might push Russia to deepen cooperation with BRICS states, in particular, to strengthen its ties with China, which will possibly turn out to be a big catastrophe for the US and the EU some time later.
Should economic sanctions be extended against Russia, more than 6,000 German exporters doing business with Russia would suffer, the Federation of German Wholesale, Foreign Trade and Services (BGA)warned on Friday.
Chinese authorities have turned out to be at the crossroads with no clear strategy regarding the Ukrainian crisis, as any definite stance would have a negative impact on relations with one of its main partners.
An ‘enormous gulf’ has been exposed between the EU and the US through Europe’s reluctance to buy hormone meat or GM food from the US. Industry and labor groups voiced concern to EU and US negotiators that the globe’s biggest trade pact was under threat.