US trade with China probably needs to be smaller, USTR's Greer says

Australia’s beef exports have reached a record high this year, driven by strong demand from the US, as reported by Meat & Livestock Australia. This surge occurs despite the ongoing tariffs imposed by former President Trump, which have not deterred American consumers from seeking Australian beef.

China's crackdown on borrowing by local governments has led state-run entities in affluent provinces to seek expensive credit from shadow banks, raising concerns about the risks associated with this opaque segment of the financial system. This move follows President Xi Jinping's efforts to manage debt levels and stabilize the economy amid growing financial pressures.

Asian equities are expected to open weakly following a lackluster session on Wall Street, where tech stocks and bonds faced pressure, and Bitcoin's recovery stalled ahead of the Federal Reserve's upcoming decision on interest rates.

Brazil's soybean exports surged by 64% in November, driven by a shift in demand from China towards U.S. suppliers. This increase highlights Brazil's significant role in the global soybean market as it adapts to changing trade dynamics.

The Federal Trade Commission (FTC) is investigating whether TP-Link misled consumers in the United States regarding its separation from its Chinese operations. This inquiry follows concerns about the company's transparency and the implications of its business practices on consumer trust.

US senators are advancing a bipartisan bill aimed at blocking Nvidia from selling advanced AI chips to China, reflecting growing concerns over national security and the potential transfer of sensitive technology to Beijing.

US weekly jobless claims have dropped to 191,000, marking the lowest level in over three years, reflecting a tightening labor market. This decline of 27,000 claims from the previous week indicates that employers are retaining workers despite recent layoffs.

US factory orders increased in September, but the rise was below expectations, indicating potential weaknesses in the manufacturing sector. This development raises concerns about the overall economic momentum as the manufacturing industry plays a crucial role in economic growth.