First signs of looming US-China trade war began to surface

Baku. 27 December. REPORT.AZ/ The US government put Alibaba Group's online shopping site, Taobao, in the blacklist of "natorious marketplaces" on charges of allowing sale of counterfeit goods. Report informs citing the Haberler, the company has rejected the allegations, insisting it polices its market place better than in the past.

Alibaba Group President Michael Evans said he was "disappointed" by the decision and questioned whether it was "based on actual facts or was influenced by the current political climate."

Notably, in May, Alibaba was suspended from the International Anti Counterfeiting Coalition (IACC) watchdog over piracy concerns.

More than 250 members, including Gucci America and Michael Kors, had threatened they would leave the IACC in protest at Alibaba's membership.

Analytical Group of Report believes in 2017 US-China trade relations will deteriorate. As a result, China's economy will weaken and the national currency - yuan will be devalued. This in turn, will decrease oil prices and currency war will continue further.