MNI China Daily Summary: Thursday, Aug 29

MNI BRIEF: China Discussing Placing Tariffs On Auto Imports

MNI: Japan Govt Upgrades Economic View, Private Consumption

MNI BRIEF: PBOC Restarts CGB Trade After Nearly Two Decades

MNI: PBOC Net Drains CNY208.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1299 Thurs; +2.34% Y/Y

MNI: US Q2 GDP +3.0%

MNI: US JOBLESS CLAIMS -2K TO 231K IN AUG 24 WK

MNI: GERMANY AUGUST FLASH HICP -0.2% M/M; +2.0%Y/Y

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DPRK Confirms Hwasong-12 Missile Test, U.S. Reiterates Offer Of Talks

NORTH KOREA

North Korea's state media confirmed that Pyongyang test-fired an intermediate-range ballistic missile (IRBM) towards the East Sea on Sunday. The Korean Central News Agency said that the drill "confirmed the accuracy, security and effectiveness of the operation of the Hwasong 12-type weapon system under production."

  • An anonymous South Korean military official told Yonhap that the missile reached the speed of sixteen times the speed of sound (Mach 16), with some analysts noting that if fired on a standard trajectory, it could reach the U.S. territory of Guam.
  • A senior U.S. official told Bloomberg that the White House is ready to engage with North Korea without preconditions, but Pyongyang has not yet responded to offers of direct talks. The official added that it is too soon for a Biden-Kim summit, as top-level negotiations would have to have a clear purpose.
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