Joe McDonald

Government, Business, Technology, Equipment, Fuel

China Auto Sales Plunge in February

Attendees at BYD at the Auto Shanghai 2019 Attendees look at cars from BYD at the Auto Shanghai 2019 show in Shanghai on April 16, 2019. China’s auto sales plunged 81.7% year-over-year in February 2020. (Ng Han Guan/Associated Press)

BEIJING — China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported March 12.

Joe McDonald | Associated Press
March 12, 2020
Government, Business, Fuel

Global Markets Pick Up After Plunge on Coronavirus, Oil

Maked woman walking by statue A woman wearing a face mask walks by the investment icon bull statue on display outside a bank in Beijing on March 10. (Andy Wong/AP)

BEIJING — Global stock markets rebounded March 10 from record-setting declines after U.S. President Donald Trump said he would ask Congress for a tax cut and other measures to ease the pain of the spreading coronavirus outbreak.

Joe McDonald | Associated Press
March 10, 2020
Government, Business, Fuel

Stocks, Oil Plunge Over Global Fight for Crude Production

Man in mask in Hong Kong A man wearing a mask walks past a share index board outside a bank in Hong Kong. (Kin Cheung/AP)

BEIJING — Global stock markets and oil prices plunged March 9 after a fight among major crude-producing nations jolted investors who already were on edge about the surging costs of a virus outbreak.

Joe McDonald | Associated Press
March 9, 2020
Government, Business

China Welcomes Currency Decision Ahead of US Trade Deal

currency Getty Images

BEIJING — China on Jan. 14 welcomed a U.S. decision ahead of the signing of a trade deal with Beijing to drop it from a list of governments accused of manipulating the value of their currencies to gain an unfair advantage in trade.

Joe McDonald | Associated Press
January 14, 2020
Government, Business, Technology

China’s Economic Slowdown Deepens, Weighing on Global Growth

Qingdao port, China Containers are piled up at a port in Qingdao in east China's Shandong province. (Chinatopix via AP)

BEIJING — China’s economic growth sank to a new multidecade low in the latest quarter as a trade war with the U.S. deepened a slump that is weighing on the global economy.

Joe McDonald | Associated Press
October 18, 2019
Government, Business, Technology

China Criticizes US Tech Curbs but Trade Talks Going Ahead

Group of American and Chinese officials greet each other China's Vice Premier Liu He (left) is greeted by U.S. Trade Representative Robert Lighthizer (from left) and U.S. Treasury Secretary Steve Mnuchin in Washington on May 10, 2019. (Andrew Harnik/Associated Press)

BEIJING — China demanded Washington lift newly imposed sanctions on Chinese tech companies but said Oct. 8 envoys will go ahead with a U.S. trip for trade talks despite the latest spike in tensions.

Joe McDonald | Associated Press
October 8, 2019
Government, Business

China to Lift Punitive Tariffs on US Soybeans, Pork

Trader in foreground, Trump, Xi on screen A currency trader at KEB Hana Bank headquarters in Seoul works while a computer screen shows images of Xi and Trump. (Ahn Young-joon/AP)

BEIJING — China will lift punitive tariffs imposed on U.S. soybeans and pork in a trade war with Washington, a state news agency said Sept. 13, adding to conciliatory gestures by the two sides ahead of negotiations.

Joe McDonald | Associated Press
September 13, 2019
Government, Business

China Warns US Tariffs Will ‘Escalate Trade Friction’

shipping containers at Nantong Port, China Shipping containers are loaded onto a cargo ship at a port in Nantong in eastern China's Jiangsu province. (Chinatopix via AP)

BEIJING — China appealed to Washington on Aug. 22 to “meet each other halfway” and settle a trade war instead of going ahead with planned tariff hikes that Beijing warned will trigger retaliation.

Joe McDonald | Associated Press
August 22, 2019
Government, Business

China’s Economy Growth Cools Further Amid US Tariff War

Child at store in China with balloon A child plays with a balloon at a clothing store in Beijing, on July 15, 2019. (Associated Press/Andy Wong)

BEIJING — China’s economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington.

Joe McDonald | Associated Press
July 15, 2019
Business, Technology, Autonomous

Tesla Secures Land in Shanghai for First Foreign Factory

Elon Musk Tesla CEO, Elon Musk. (Marcio Jose Sanchez/Associated Press)

BEIJING — Electric auto brand Tesla Inc. said it signed an agreement Oct. 17 to secure land in Shanghai for its first factory outside the United States, pushing ahead with development despite mounting U.S.-Chinese trade tensions.

Joe McDonald | Associated Press
October 17, 2018