News Snapshot:
Trade frictions between the US and China might not ease in the near term even if Joe Biden becomes president, former Chinese minister of finance Lou Jiwei (樓繼å‰) said yesterday. Lou, who is now retired and serves as a member of a consultative body to the Chinese National People’s Congress, made the remarks during the Caixin Summit in Beijing. Stocks in China and other parts of Asia rose on Monday on news that US president-elect Joe Biden had clinched enough votes to assume office in the White House, which investors hoped could lead to a thaw in frosty US-China ties....
