US companies based in China is not an exception to those who are affected but somehow they managed to survive the ordeal. The business leaders said that Trump is effectively asking US companies and consumers to feel them in order to prove a point to the Chinese and create leverage in the trade negotiations.
BitMain ‘s co-founder and co-CEO Micree Zhan is a low profile billionaire with a net worth of around $4 billion dollars. Forbes reported Zhan’s fortune by applying the price to sales ratios in comparison with other crypto company’s like Nvidia, AMD, Qualcomm, and Cisco.
Based on recent stock market figures, the Chinese stock market is facing quite a downturn. However, steel prices are still on the rise. Many market analysts say that this is a positive sign that shows just how resilient the world’s second largest economy is.
The bitter trade war between two of the world’s largest economies have caused some countries to be wary. As the trade war between China and the United States continues to escalate the European Union is converging in order to protect the World Trade Organization (WTO).
The bitter trade war between China and the United States have caused some industrial metal prices to fall. The most recent to fall victim to this trade tension is copper which lost its ground on Tuesday. Trade forecasts reveal that copper is set to fall for three out of the possible four sessions.
Russian Defense Minister Sergei Shoigu revealed on Tuesday that the country is set to hold its biggest war games since the dark days of the Cold War. The massive three-country war game is expected to involve Mongolian and Chinese armies.