In November, retail sales in China fell 5.9 percent year over year as anti-COVID lockdowns persisted, industrial production shrank when orders from foreign buyers dwindled, and business investment slowed.
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SPOTLIGHT: CHINA
In November, the volume of goods China shipped abroad fell 8.7 percent from a year earlier, the steepest annual drop since February 2020 when international COVID lockdowns were slamming the world’s economy shut, The Wall Street Journal reported.
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SPOTLIGHT: CHINA STRUGGLES TO RIGHT ITS ECONOMY
China’s economic activity in construction, manufacturing, and services slowed more than expected in November, hobbled by continuing, widespread anti-COVID lockdowns, an unresolved financial crisis in the real estate sector, and fewer orders for the country’s factory output.
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CURRENCY: A RACE TO THE BOTTOM
If you think inflation is bad now, well you haven’t seen anything yet!
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SPOTLIGHT: CHINA
Shops and warehouses in the U.S. and Europe are overstocked with inventory, causing orders for new goods from China’s factories to plunge by as much as 50 percent last month, according to the Financial Times.
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SPOTLIGHT: CHINA
In dollar terms, the value of China’s exports in October fell 0.3 percent, year on year, falling far short of the 4.3-percent increase that analysts had predicted, due to the U.S. and European Union buying less.
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WILL YOU SURVIVE THE ‘TRIPLEDEMIC’?
According to mainstream media, hospitalizations for respiratory infections are on the rise and “experts” warn of a potential “tripledemic” this winter, as COVID, seasonal influenza and respiratory syncytial virus (RSV) are all in circulation.
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SPOTLIGHT: CHINA
For the first time since 1990, China’s economic production this year will be less than the rest of Asia’s, the World Bank has predicted.
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SPOTLIGHT: CHINA
CHINA’S ECONOMIC DATA PAINTS MIXED PICTURE On 16 September, China’s National Bureau of Statistics released data showing that home prices continue to fall and consumer spending remains relatively feeble. In contrast, new jobs were added and infrastructure investment, a tried and true means for government agencies to goose the economy, increased. Across 70 major cities,...
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CONGRESS PUSHES FED TO SPEED CREATION OF A DIGITAL DOLLAR
A bipartisan group in the U.S. House of Representatives is pressing the U.S. Federal Reserve to move faster in creating a national digital currency. The group fears leadership in digital currencies by China and private cryptos might threaten the U.S. dollar’s position as the world’s reserve currency, The Wall Street Journal reported. (See “China’s Digital...