In the News: The Galvin Round-Up
From UK house prices falling in light of a no deal Brexit, to China opening up its markets in response to Trump’s trade war, here’s your international expansion perspective on some recent headlines.
UK house prices could fall next year in light of a no deal Brexit
House prices in the UK could fall if the government fails to reach a Brexit deal, according to Howard Archer, chief economic adviser to the EY ITEM Club. He said prices would fall “modestly,” whereas prices could rise by around 2% if the UK does manage to negotiate a deal with Brussels in time.
This follows news that house prices rose by just 1.5% in the year to October, according to the bank Halifax, in the lowest annual rise since March 2013. The average UK house price is currently £227,869.
China Promises to Open Up Its Markets In Response to Trump’s Trade War
As President Trump faces the new challenge of a Democrat-controlled Congress, China is also taking steps to counteract the effects of trade tariffs imposed on them by the US. The escalating trade war between the countries has seen Asian shares sliding, prompting Chinese President Xi Jinping to announce that he will lower import tariffs and improve access to the Chinese market, in an attempt to make his country more attractive to businesses.
The Chinese leader announced his planned measures in a speech ahead of his meeting with Donald Trump, which will take place at the upcoming G20 summit in Argentina – a sign read by many observers as an indication that relations between the two countries are unlikely to improve any time soon.
Trump’s Trade War Reaches the WTO
The President’s trade policies also faced pushback from a number of different countries, as his tariffs were brought before the WTO. Seven parties, including Mexico, Canada and the European Union, disputed the tariffs that have been placed on their steel and aluminium exports at a meeting of the WTO in Geneva.
Experts are suggesting that the WTO’s response to the disputes will be a test of its effectiveness, at a time when many are calling for it to be reformed and updated.
The Galvin News Round-Up
Do you ever wonder how the latest headlines could affect your business? Galvin International’s round-up of current events will give you the international perspective you’re looking for.
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