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Posts Tagged ‘China economy’

China’s exports get hit by coronavirus disruption in the rest of the global economy

We won't know until March 31 when he purchasing managers' indexes for China are released but it looks like China will see its first quarterly contraction of its economy in decades and the weakest year since 1976. The problem is that just as Chinese factories are going back into production after the country's coronavirus shutdown, […]

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China rolls the dice on coronavirus, speeds workers back to factories

China's national and local governments are rushing to restart factories. They're loosening the rules on quarantine and screen for the coronavirus so workers can return to work. This even though the virus has shown that it can incubate, undetected and asymptomatic, for as long as two weeks. The order apparently comes from the top with […]

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China’s private companies saying they can’t or won’t pay workers because of coronavirus

Across China, companies in the private sector of the country's economy are telling workers that their paycheck will be delayed or that it will be smaller than usual or, worst case, that there won't be a paycheck at all. For example, NIO, an electric car-maker based in Shanghai, recently delayed paychecks by a week. At […]

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China quarantines 760 million people–think that will have an effect on the economy?

We still don't know if the coronavirus epidemic is slowing in China--the latest report shows deaths in China up 105 to 1,770 and the official number of cases climbing in mainland China to 70,548. Hubei province has reported 1,933 new cases, up from 1,843 the day before. And social media posts that make their way […]

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Trick or Trend: Coronavirus to cause big drop in vehicle production in China and elsewhere–maybe

Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Friday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. Market researcher IHS Markit now forecasts that global production of light vehicles (cars and pickup […]

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Commodities take another China hit–which gives us something else to watch for a bottom

Two Chinese companies have invoked force majeure clauses in their contracts to refuse delivery of cargoes of liquified natural gas and copper. Chinese buyers have also asked Chilean miners to postpone shipments and China's biggest oil refiner Sinopec Group is likely to ask Saudi Arabia to reduce crude shipments next month, according to Bloomberg. Invoking […]

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Citigroup forecasts coronavirus will hit China GDP hard with growth to slow to 4.8% in first quarter

That 4.8% growth in the first quarter would come after 6% growth in the fourth quarter of 2019. The bank also cut its forecast for growth for the full 2020 year to 5.5% from 5.8%. Granted this is just one forecast at a time of extreme uncertainty. But I would note that China already cut […]

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China economy headed to “stable,” U.S. forecast to relative slip

China's economy grew by 6.1% in 2019. That's down from 6.6% in 2018. But the 2019 figure meets the government's target, and December industrial output rose 6.9% year over year, ahead of the 5.9% forecast by economists. Retail sales climbed by 8% against a forecast of 7.9%. (One caveat: The Lunar New Year arrives earlier […]

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China’s local governments go all in on land sales as stimulus efforts create problems for city governments

Land sales in major Chinese cities hit a record high in 2019, according to Caixin Global. Revenue from land sales revenue in 50 cities last year grew to a record 4.2 trillion yuan ($601.6 billion) as of Dec. 26, marking a jump of 17.6% from the same period in 2018, according to data provided by […]

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China manufacturing index shows expansion in December–but at a slower pace

Yesterday the private Markit/Caixin Purchasing Managers Index showed that China's manufacturing sector expanded in December. The 51.5 reading put the sector into expansion territory (anything above 50 marks an expansion) but was slightly below the 51.7 level forecast by economists. The Markit/Caixin index was at 51.8 in November. On Tuesday, the government released the official […]

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