“There are flowers around the gate of China’s Ministry of Commerce, but there are also big sticks hidden inside the door — they both await Americans,” the Communist Party’s Global Times newspaper wrote. The article was published in response to Trump picking Robert Lighthizer, a former trade official in the Ronald Reagan administration who has criticized Beijing’s trade practices, as U.S. trade representative. Source Bloomberg
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French far-right leader Marine Le Pen has gained some ground on her main election rivals, independent Emmanuel Macron and conservative Francois Fillon, but would still lose to either of them in the May 7 runoff for the presidency, a poll showed on Monday. Source Reuters
Houses in Germany’s cities are overvalued by as much as 30%, the Bundesbank warned on Monday, adding to fears of a housing bubble in Europe’s largest economy after years of ultralow interest rates. Prices for residential real estate rose by 8% last year in 127 cities. Source: MarketWatch
According to Ifo’s research results, a comprehensive agreement between the EU and the Eurasian Economic Community could lead to a 0.2 percent increase in real per capita income in the EU. “These income gains stem from the fact that the economic structures on all sides are highly complementary.” Source: Ifo Institute