Bloomberg (November 26)
“China’s economy continued to slow in November with car and homes sales dropping again as the housing market crisis dragged on.” While numbers for eight early indicators “stayed unchanged, under the surface there was a further deterioration in some of the real-time economic data.”
Tags: Cars, China, Crisis, Deterioration, Economy, Homes, Housing market, Indicators, November, Sales, Slow, Unchanged
McKinsey Global Institute (November 15)
Since 2000, net worth has tripled “to $510 trillion, or 6.1 times global GDP, with China accounting for one-third of global growth.” The increase “mainly reflects valuation gains in real assets, especially real estate, rather than investment in productive assets that drive our economies.” Remarkably, the “historic link between the growth of net worth and the growth of GDP no longer holds.”
Tags: $510 trillion, 2000, China, Economies, GDP, Global growth, Investment, Net worth, Productive assets, Real assets, Real estate, Valuation gains
Bloomberg (November 1)
“China’s economy showed signs of further weakness in October as power shortages and surging commodity prices weighed on manufacturing, while strict Covid controls put a brake on holiday spending.” The purchasing mangers’ index shows “the economy is under pressure from both the supply and demand side.”
Tags: China, Commodity, Covid, Economy, Manufacturing, October, PMI, Power shortages, Prices, Spending, Strict, Supply, Surging, Weakness
Bloomberg (October 25)
“China’s economy risks slowing faster than global investors realize as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from education to technology combine with a power shortage and the pandemic.”
Tags: China, Economy, Education, Investors, Power shortage, Real estate, Regulate, Reliance, Risks, Sectors, Slowing, Technology, Xi
Wall Street Journal (October 18)
“China’s economy grew 4.9% in the third quarter from a year earlier, slowing sharply from the previous quarter’s 7.9% growth rate, as power shortages and supply-chain problems added to the impact from Beijing’s efforts to rein in the real estate and technology sectors.” A slowdown was expected, but results fell short of “the 5.1% growth forecast” economists provided last week.
Tags: Beijing, China, Economy, Forecast, Growth, Impact, Power shortages, Problems, Real estate, Slowdown, Supply chain, Technology
South China Morning Post (October 18)
Coal prices have “more than tripled in a year to near historical highs” and look poised to keep climbing, driven by a coal shortage that could threaten the global economic recovery. “Blackouts could spread from China and India to all the emerging economies still mostly reliant on coal. As supply can’t be ramped up in the near term, the shortages could worsen as energy demand rises with winter’s arrival. That may trigger another emerging-market crisis.”
Tags: Blackouts, China, Coal, Demand, Economic recovery, Emerging-market crisis, Energy, India, Prices, Reliant, Shortage, Supply, Threaten, Tripled, Winter
Washington Post (October 2)
“The commercial pipeline that each year brings $1 trillion worth of toys, clothing, electronics and furniture from Asia to the United States is clogged and no one knows how to unclog it.” The median cost of container shipping *from China to the West Coast of the United States hit a record $20,586, almost twice what it cost in July, which was twice what it cost in January.” Supply chain problems are now “expected to last through 2022.”
Tags: 2022, Asia, China, Clogged, Clothing, Commercial, Container, Cost, Electronics, Furniture, Pipeline, Record, Shipping, Supply chain, Toys, U.S., West Coast
Bloomberg (October 1)
“The Evergrande fear has receded too easily for comfort… Even without a crisis, the stricken developer will do significant damage to a Chinese economy that already appeared to be slowing.”
New York Times (September 21)
“The halt to the 18-month ban on travel from 33 countries, including members of the European Union, China, Iran, South Africa, Brazil and India, could help rejuvenate a U.S. tourism industry that has been crippled by the pandemic,” which caused travel spending to fall by approximately $500 billion in 2020.
Reuters (September 16)
“Australia’s new security pact with the United States and the UK, seen as a move to contain China, may worsen strained ties with its biggest export customer, but China’s insatiable appetite for resources may limit its punitive responses.”
Tags: Australia, China, Contain, Customer, Export, Insatiable, Punitive, Resources, Responses, Security pact, Strained, U.S., UK
