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Asian markets soar, Nikkei rockets close to 7% (CNBC) The Trump rally moves to Asia. Asia markets soared on Thursday with the Nikkei jumping close to 7%, as traders reassessed the economic impact of Donald Trump's victory in the U.S. presidential election. During Asian trade, U.S. crude futures gained 0.51% to $45.49 a barrel, after settling at $45.27 in the U.S. Wednesday session, as Brent futures added 0.86% to $46.76.
Trump's Win May Be Asia's Loss (Bloomberg) Just when China's economy seemed to be stabilizing, Donald Trump's election as U.S. president poses significant new risks. Not just for Chinese growth, but the entire Asia region. That's because the president-elect campaigned on a policy platform with protectionism at its center. Trump wants to slap punitive tariffs on Chinese goods and label the world's No. 2 economy a currency manipulator. Such a move would hurt Chinese exports. But it could also trigger a trade war if Beijing retaliates, catching other Asian economies in the crossfire. Se also article under Australia, below.
Trump due in court before Oval Office (Reuters) Within a few weeks of winning the White House, President-elect Donald Trump could face another group of U.S. citizens, a federal jury in California, courtesy of a lawsuit by former students of his now-defunct Trump University who claim they were defrauded by a series of real-estate seminars. A hearing in federal court in San Diego is set for Thursday, and the trial is scheduled to begin on Nov. 28, barring any delays or if Trump decides to settle the case. But see the next article.
Extra White House Perk for Trump: More Leverage in Court Fights (Bloomberg) Donald Trump may have found a sure-fire way to avoid taking the witness stand this month to face Trump University students who say he cheated them -- get elected president. His election means he probably won’t have to testify in lawsuits accusing him of cheating condo owners, golf-course members or vendors serving his businesses, according to legal experts. And none of the cases pending against Trump is likely to create the type of scandal that led to the impeachment of President Bill Clinton in 1998, they said.
Trump Picks Top Climate Skeptic to Lead EPA Transition (Scientific American) Donald Trump has selected one of the best-known climate skeptics to lead his U.S. EPA transition team, according to two sources close to the campaign. Myron Ebell, director of the Center for Energy and Environment at the conservative Competitive Enterprise Institute, is spearheading Trump’s transition plans for EPA, the sources said. The Trump team has also lined up leaders for its Energy Department and Interior Department teams. Republican energy lobbyist Mike McKenna is heading the DOE team; former Interior Department solicitor David Bernhardt is leading the effort for that agency, according to sources close to the campaign.
Iraq forces accused of killing, torturing civilians south of Mosul (Reuters) Iraqi government forces killed and tortured civilians south of Mosul, rights groups said on Thursday, the first such reports of alleged abuse in a U.S.-backed campaign to retake the city from Islamic State. Amnesty International said "up to six" people were found dead last month in the Shura and Qayyara sub-districts who security forces suspected of ties to the ultra-hardline jihadist group which seized a third of Iraqi territory in 2014.
Trade with China or security with the US? Australia will have to choose(The Conversation) Donald Trump’s victory promises a further departure from the traditional Asia-Pacific order created during the Cold War years. This was when the US provided military and economic dominance through a system of defense alliances with the major trading partners in the region, including Australia. The old Asia-Pacific order was based on the exchange of security for free trade. With the demise of the Soviet Union and the rise of China’s market economy, the Asia-Pacific order is now in an evolutionary phase. Now the hierarchy of countries is splitting between security - still dominated by the US, and the economic order- which is being overtaken by China. Trump policies could force Asia Pacific countries to choose alliances with either China or the U.S., but not with both.
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