CHINA’S EXPORT ECONOMY REBOUNDS China’s exports surged 16.9 percent in May, year over year, almost four times the 3.9-percent expansion booked in April, the country’s General Administration of Customs reported. The figure stunned analysts, who had held a median expectation of 8 percent, The Wall Street Journal noted. The surge likely was the result of...
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CHINA’S HOME PRICES FALL FOR FIRST TIME IN SEVEN YEARS
Home prices across 70 cities in China edged down 0.11 percent in April, year over year, their first decline since November 2015, according to The Wall Street Journal’s analysis of data published by China’s National Bureau of Statistics. Prices rose in 30 cities and fell in 40. The decline was concentrated in China’s poorer, smaller...
TOP TREND 2022 DRAGFLATION: ASIAN ECONOMIES ECONOMIC BLUES
A range of indicators in China, Japan, South Korea, and Taiwan show the region’s economic activity being dragged down by China’s COVID lockdowns, inflation in Europe, and the Ukraine war and its sanctions, The Wall Street Journal reported. China’s imports declined for the first time in two years and exports fell 6 percent in March...
TJ Apr 12 Long Section Test – JD
TRENDS ON THE U.S. ECONOMIC FRONT ECONOMIC OVERVIEW How low can we go? This isn’t ancient history. Go back to Chinese Lunar New Year 2020: The Year of the Rat In January, when the coronavirus was launched in the city of Wuhan, Beijing locked the city down, and others, to beat the virus. In lockstep,...
CHINA’S PROPERTY INDUSTRY FACES DRAMATICALLY DIFFERENT FUTURE
After suffering through a crisis that nearly toppled the industry, China’s property developers see a starkly different future than their freewheeling past, The Wall Street Journal said on 8 April. Chinese developers have realized that a two-decade boom in housing, commercial, and industrial building has ended, analysts told the WSJ, and the market will worsen...
TOP TREND DRAGFLATION: INVESTORS IN EMERGING MARKETS FACING MAJOR LOSSES
Ashmore Group and other asset managers heavily invested in emerging markets face worsening losses as investors withdraw to safer havens amid high inflation, rising interest rates, the Ukraine war’s economic fallout, and concerns about exposure to China’s slowing economy and growing affiliation with Russia, the Financial Times reported. Bank of America (BoA) analysts have reduced...
SPOTLIGHT ON INFLATION
HIGHEST U.S. INFLATION IN 40 YEARS CURBS CONSUMER SPENDING The Personal Consumption Expenditures Price Index (PCE), the U.S. Federal Reserve’s preferred measure of inflation, ratcheted up 6.4 percent in February, year on year, the PCE’s largest annual gain since 1982, the U.S. commerce department reported. The index registered 6.0 percent in January. Food costs rose...
SPOTLIGHT: CHINA
IMF CUTS OUTLOOK FOR CHINA’S ECONOMY The International Monetary Fund (IMF) predicts China’s economy will grow by 4.8 percent this year, not the 5.7 percent it had foreseen previously, the agency said in its annual outlook report. China’s 8.1-percent growth last year depended too heavily on exports and government investment while consumer spending sagged, the...
CHINA’S CENTRAL BANK CUTS KEY INTEREST RATE
In December, China experienced the slowest year-on-year growth in 18 months, the National Bureau of Statistics reported. In response, on 19 January, the People’s Bank of China (PBOC) cut its one-year prime loan rate from 3.8 percent to 3.7 and trimmed its five-year prime rate—which is used to price mortgages—from 4.65 percent to 4.6, the...
PLANTATION OWNERS OF SLAVELANDIA GET RICHER, SLAVES GET POORER
According to the Bloomberg Billionaires Index, the combined net worth of 0.001 percent of the world’s population increased by $1 trillion over the past year, and now exceeds $8.4 trillion, which is more than the gross domestic product of any country other than the U.S. or China. And since the COVID War was launched some...