Skip to main content

China's trade data to be revealed on Wednesday.



china economy
Trade data due to be released on Wednesday will give markets a better read on how domestic and foreign demand have held up for the world’s second-largest economy.

Overshadowing the data is China’s approach to managing the coronavirus. Chinese authorities have stopped short of explicit changes to President Xi Jinping’s zero-Covid approach. Still, analysts say the language in official statements has eased following a wave of nationwide protests criticising top leaders for sticking with the economically disruptive policy when the rest of the world has long since moved on.

The outlook for exports, in particular, has darkened based on recent reports from official and independent purchasing managers’ indices in China, revealing a marked decline in export orders last month as concerns mounted over growth in the US and Europe.

«Weaker external demand is another headache for Chinese exporters,» said Iris Pang, chief economist for Greater China at ING.

www.sba.tax

Comments

  1. Laurie5 December 2022 at 16:31

    That zero-Covid approach is going to drive their economy into the ground. Six feet under if they keep with this madness.

    ReplyDelete
    Replies
    1. Damon5 December 2022 at 19:20

      Chinese people have already started having serious issues like not being able to work and get paid or having enough to eat. You won't find about these things in the media there, of course. But if you do a bit of research there are videos and articles on this.

      Delete

Post a Comment

Cloud Bookkeeping

US FED rate rise.

  The US Federal Reserve officials have indicated that they plan to resume increasing interest rates to control inflation in the world's biggest economy. During the June meeting, the Federal Open Market Committee reached a consensus to keep interest rates stable for the time being to evaluate whether further tightening of policy would be necessary. However, the majority of the committee anticipates that additional rate increases will be required in the future. The minutes of the meeting have recently been made public. According to the minutes, most participants believed maintaining the federal funds rate at 5 to 5.25 per cent was appropriate or acceptable, despite some individuals wanting to raise the acceleration due to slow progress in cooling inflation. Although Fed forecasts predicted a mild recession starting later in the year, policymakers faced challenges in interpreting data that showed a tight job market and only slight improvements in inflation. Additionally, officials gr...
Post a Comment
Read more

EU business slide.

  S&P Global’s flash eurozone composite purchasing managers’ index, a key gauge of business conditions for the manufacturing and services sector, fell 1 point to 47.1, figures showed yesterday. That is its lowest level since November 2020 and the fourth consecutive month below the crucial 50 mark separating growth from contraction. One of the few bright spots in the survey was that companies in all sectors reported a slight easing of cost pressures, price growth and supply chain constraints. However, prices charged for goods and services still rose at the sixth fastest rate since such data started in 2002. Jobs growth increased marginally from October but remained low compared with the past 18 months. Following a few months of falling price pressure in manufacturing and services, the October print shows an overall stabilisation said Jens Eisenschmidt, chief European economist at Morgan Stanley. However, German businesses, at the hub of Europe’s energy crisis, reported that manu...
1 comment
Read more

Tariffs on UK electric cars.

  The European Commission has confirmed that it will continue with its plan to impose tariffs on electric cars exported between the UK and EU starting next year. This is due to the "rules of origin" requirement that mandates EVs traded across the English Channel to have 60% of their battery and 45% of their parts sourced from the EU or UK or face a 10% tariff. A senior Commission official, Richard Szostak, recently informed parliamentarians from the UK and EU that the bloc's battery investment has significantly declined, making the tariffs necessary to encourage domestic production. In 2022, the EU's share of global investment in battery production shrank from 41% to only 2% after the US offered substantial subsidies through its Inflation Reduction Act. Starting in 2024, car manufacturers in the UK will need to have 22% of their sales come from zero-emission vehicles, which means they may need to import EVs from the continent to meet this requirement. If EU carmakers ...
Post a Comment
Read more