Despite vowing policy support to jolt China’s economy back to life, the country’s leaders have done little other than make promises, global investors have said as they scaled back their expectations for China’s economic growth this year.
Tag: China
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CHINA’S ECONOMIC WEAKNESS LEAKS ONTO WALL STREET
Stock-watchers expect a raft of disappointing second-quarter earnings reports from tech firms, luxury retailers, and other companies dependent on China, according to Reuters.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The value of exports from China fell 12.4 percent in June, year over year, to $285 billion after declining 7.5 percent in May, The Wall Street Journal reported.
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CHINA HITS U.S. OVER LATEST WEAPONS SALE TO TAIWAN
The American effort to turn Taiwan into a “porcupine” continued last week after the announcement of the latest sale of $440 million in military equipment to the island—which drew a swift rebuke from China.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s factory activity continued weak in June, although less so than in April and May, government figures showed. Exports shrank in May at an annual rate of 7.5 percent.
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U.S. CONTINUES TO PROVOKE CHINA, SENDS ITS BIGGEST SUB TO SOUTH KOREA
The USS Michigan, a nuclear-powered submarine, visited the Korean Peninsula as tensions between Seoul and Pyongyang remain high—but is also likely to be seen as a clear indicator to Beijing about the U.S.’s growing presence in the region.
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EU LOSES CONFIDENCE IN CHINA’S ECONOMIC POWER
European businesses are less confident in China’s economy now that its expected post-COVD economic boom has busted and its relations with Europe and the U.S. are deteriorating, according to a survey by the European Union Chamber of Commerce in China.
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SPOTLIGHT: CHINA’S ECONOMIC MALAISE
New data shows China’s post-COVID economic recovery has vanished and is now weakening across a broad range of sectors, leaving it “teetering on the brink of deflation,” CNBC reported.
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SPOTLIGHT: CHINA’S ECONOMIC STUMBLE
China exported 7.5 percent less in May than a year before and imported 4.5 percent less, the General Administration of Customs said, cutting factory output and adding evidence that the country’s delayed post-COVID rebound has sputtered, which we reported in “China’s Post-COVID Recovery Fizzles” (6 Jun 2023).
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SPOTLIGHT ON CHINA
China’s manufacturing and services sector both slowed in May, offering more evidence that the growth spurt early this year after the government lifted anti-COVID restrictions has not lasted.