China's economic growth slows How Trump's trade wars hurt 4 weeks ago   02:37

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(19 Oct 2018) China's economic growth sank to its lowest level since the global financial crisis in the latest quarter, adding to challenges for communist leaders as they fight a tariff battle with Washington.
The world's second-largest economy expanded by 6.5 percent over a year earlier in the three months ending in September, government data showed Friday. That was down from 6.7 percent for the quarter ending in July and 6.8 percent for the year's first three months.
Forecasters expected China's economy to cool after Beijing tightened credit controls last year to rein in a debt boom. But the slowdown has been sharper than expected, prompting Chinese leaders to reverse course and encourage banks to lend.
Communist leaders express confidence their 12 trillion US dollars-a-year economy can survive the conflict with President Donald Trump. But export industries have begun to suffer from American tariff hikes of up to 25 percent on Chinese goods.
Economic performance continued with "good momentum" but "challenges from outside are increasing," said National Bureau of Statistics spokesman Mao Shengyong.

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How Trump's trade wars hurt China's economic growth slows 4 weeks ago   10:27

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CNN
As a result of President Donald Trump's trade wars with China and other countries, US farmers are seeing a surplus of perishable goods stuck in limbo and increased prices for equipment.

In good years, cargo trains moving west along the flat, sweeping grasslands of North Dakota’s plains are a sign of money rolling in.

Today, as tariffs from America’s largest foreign soybean market -- China -- threaten to upend the industry, many trains sit idle.

“There are no shuttle trains leaving. There is no nothing,” said Joe Ericson, the 38-year-old president of the North Dakota Soybean Growers Association. “They can’t get rid of the beans.”

In conversations with more than 50 farmers, producers and agriculture experts in five states representing each of the five food groups, one trend was clear: The once-deep ties to President Donald Trump have frayed over the past year. But they remain intact for a small majority of farmers CNN spoke with ahead of the critical 2018 midterm elections. Democrats, who see an opening with Trump’s trade war, will likely struggle to make inroads with these voters.

The President gives all of them plenty to complain about. They grumble about his tweeting -- that’s not their style -- and what his trade war has done to their bottom lines. But if the President’s re-election were held tomorrow, most of them would back him. They trust Trump, and many believe Democrats don’t understand or largely ignore their way of life.

Still, Trump’s deep support in rural America, which helped propel him to the White House in 2016, is being tested. The wheat farmers, soybean growers and pork producers confront a growing trade war that is forcing them to re-evaluate their ties to the President’s Republican Party and openly question whether his mantra to “Make America Great Again” came at the expense of voters like them.

Read more on CNN.com: https://cnn.it/2CxBkty

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