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

India- UK trade deal.

  According to India's top trade official, talks with the UK regarding a trade agreement are progressing well, despite obstacles related to temporary work visas and the opening up industries like automotive and spirits. The Commerce and Industry Minister, Piyush Goyal, explained that India is seeking transition periods or greater market access in specific sectors due to its economy, which is slightly larger than the UK's and expected to outgrow it in the coming decades. If a trade deal is reached, it would be one of the most significant agreements for Britain since leaving the EU, and it would also be necessary for India, which surpassed the UK as the fifth-largest economy last year. Goyal stated that India aims to increase its economy from $3.5tn to $35tn by 2047, the country's centenary of independence. According to officials and diplomats in India, talks about a proposed trade deal may be finished by early September, just in time for the G20 summit in New Delhi. Nigel Hu...
Post a Comment
Read more