Reuters (November 11)
“Signs of weakness are emerging” across the Chinese economy where “exports fell; inflation slowed; new bank lending tumbled…. Despite the authorities bucking the global trend… and deploying monetary and fiscal easing this year.” The “unexpectedly weak run of Chinese economic data” raises “the heat on policymakers to deliver more stimulus measures, but it also shows the limited effect more monetary easing and infrastructure spending can have.”
Tags: Bank lending, Economy, Emerging, Exports, Fiscal, Global trend, Inflation, Infrastructure spending, Limited effect, Monetary easing, Signs, Stimulus, Tumbled, Weak, Weakness
American Banker (November 9)
“Lenders made it harder in the third quarter for both consumers and businesses to access credit,” and this trend looks likely to continue. “If the U.S. economy falls into a recession, more than 80% of banks said they would ‘somewhat’ or ‘substantially’ tighten lending standards for credit cards and loans backed by commercial real estate. More than 70% of banks said they would do the same for auto, commercial and industrial and residential real estate loans.”
Tags: Access, Auto, Banks, Businesses, Commercial, Consumers, Credit, Credit cards, Economy, Industrial, Lenders, Lending standards, Loans, Real estate, Recession, Tighten, U.S.
Washington Post (November 4)
“This week has brought a flurry of speculation over the possibility that Beijing might alter course nearly three years into the pandemic. Investors are watching for signs of recovering demand in China, the world’s second-largest economy, and an end to disruptions to manufacturing and transport that have affected global supply chains.”
Tags: Beijing, China, Disruptions, Economy, Investors, Manufacturing, Pandemic, Possibility, Recovering demand, Signs, Speculation, Transport
Nikkei Asia (October 31)
“A record sell-off of China stocks has revealed investors’ fears over the country’s largest companies after Xi Jinping secured his third term,” cementing his grip on leadership. Any hopes “that China’s down-beaten tech sector would revive” or that more open borders might “boost the economy were apparently dashed” when the CCP’s national congress affirmed a Politburo Standing Committee most “notable for a lack of reform-minded top leaders.”
Tags: Borders, CCP’s, China, Companies, Dashed, Down-beaten, Economy, Fears, Grip, Hopes, Investors, Leadership, Politburo Standing Committee, Record, Reform, Sell-off, Stocks, Tech sector, Xi
CNN (October 19)
Even with “Trussonomics… tossed out and a total market meltdown avoided, the near-term prospects for Britain’s economy look increasingly wobbly. A recession stretching through the winter looms. Policymakers were facing tough choices even before Truss unleashed financial market chaos. Now, with the government’s credibility tarnished, they’re in an even worse predicament.”
Tags: Avoided, Britain, Chaos. Government, Credibility, Economy, Market, Meltdown, Prospects, Recession, Tarnished, Tossed out, Trussonomics, Wobbly
Reuters (October 17)
“Local governments have long been a pump-primer of China’s growth, but declining state land sales revenue in the wake of an ongoing crackdown on debt in the sector has severely eroded their financial power – a situation exacerbated this year by China’s feeble growth, weak tax income and crippling COVID restrictions.” These bodies now face budget shortfalls of roughly $1 trillion. Amid China’s wobbly economy, “the timing couldn’t be worse.”
Tags: Budget shortfalls, China, COVID restrictions, Crackdown, Debt, Declining Land sales revenue, Economy, Eroded, Feeble, Financial power, Growth, Local governments, Pump-primer, Tax income
The Guardian (October 5)
Prime Minister Liz Truss “is plugging on while the Tory party implodes…. Watching the Conservative party self-destruct after 12 years of near-untouchable power while the economy tanks is akin to seeing your racist neighbour’s house flood with sewage. It’s delightful schadenfreude – until you realise that stink is heading straight for you.”
Tags: Conservative Party, Economy, Implodes, Plugging on, Power, Schadenfreude, Self-destruct, Sewage, Stink, Tanks, Tory, Truss
Reuters (October 3)
“A revival of American high-tech manufacturing” will pose a threat to South Korea’s “trade-dependent” economy. “Thanks to strong demand for South Korean-made electric cars, batteries and auto parts, shipments to the United States jumped 16% year-on-year in September. Those exports, which totaled some $96 billion last year, now look under threat. Big shifts today will have outsized effects on South Korea’s trade position down the road.”
Tags: Auto parts, Batteries, Demand, Economy, Electric cars, Exports, High-tech, Manufacturing, Revival, Shifts, Shipments, South Korea, Threat, Trade-dependent, U.S.
Washington Post (September 10)
“After months of gloom, Americans are finally starting to feel better about the economy and more resigned to inflation. Consumer sentiment, which hit rock bottom in June, has begun inching up in recent weeks. Gas prices are down. Decades-high inflation appears to be easing.” And there are signs that “many families are learning to deal with higher prices.”
Tags: Americans, Consumer sentiment, Easing, Economy, Families, Gas prices, Gloom, Higher prices, Inflation, Learning, Rock bottom
Financial Times (September 5)
“The euro dropped on Monday to a new 20-year low after Russia’s decision to shut a major gas pipeline to Europe intensified the energy crisis that has dealt a heavy blow to the region’s economy.” The currency blew past parity, going as low as $0.988 in London. Stocks fell and energy prices surged while “European capitals struggle to contain growing concerns over Russia’s ‘weaponisation’ of gas supplies.”
Tags: $0.988, 20-year low, Blow, Currency, Economy, Energy crisis, Energy prices, euro, Europe, Gas, London, Parity, Pipeline, Russia, Shut, Stocks, Surged, Weaponisation