Search Results for: china

In the midst of a pandemic, an economic crisis, and civil unrest, there is probably nothing less significant to the American people than territorial disputes in the South China Sea. If the U.S. leaves tomorrow, the Philippines, Brunei, Malaysia, Indonesia, and Vietnam can work out their issues and band together to negotiate with Beijing. Philippine President Rodrigo Duterte was ready to kick the U.S. military out of his country until he reversed that decision last month,

 

 

 

 

 

https://original.antiwar.com/dave_decamp/2020/07/19/the-us-has-no-place-in-the-south-china-sea-dispute/

Through April 2020, China’s year-to-date total imports of covered products from the United States were $26.0 billion, compared with a prorated year-to-date target of $57.6 billion. Over the same period, US exports to China of covered products were $20.4 billion, compared with a year-to-date target of $47.6 billion. Through the first four months of 2020, China’s purchases of all covered products were thus only at 43 percent (US exports) or 45 percent (Chinese imports) of their year-to-date targets.

 

 

 

https://www.piie.com/research/piie-charts/us-china-phase-one-tracker-chinas-purchases-us-goods

 

Chinese buyers canceled a record amount of U.S. pork last week after imports were piling up at the Asian giant’s ports amid the coronavirus outbreak. China cut purchases of 45,200 metric tons of pork, according to weekly data from the U.S. Department of Agriculture.

 

 

 

 

https://www.bloomberg.com/news/articles/2020-03-12/china-cancels-most-u-s-pork-ever-after-coronavirus-port-woes?cmpid=BBD031320_TRADE&utm_medium=email&utm_source=newsletter&utm_term=200313&utm_campaign=trade

 

With lockdowns across the world’s most-populous nation entering their third month, smaller home builders are being pushed to the brink because they can’t get enough money from pre-sales of apartments to cover their costs. In the first two months of this year, around 105 real estate firms issued bankruptcy filing statements, after almost 500 collapses in 2019, data compiled by Bloomberg show.

 

 

 

 

 

 

 

 

 

https://www.bloomberg.com/news/articles/2020-03-10/over-100-homebuilders-go-bust-in-china-as-virus-strains-deepen?srnd=premium

Argh. A Wenzhou-based factory owner tells how district officials are telling him his closed factory (he has no workers) must turn on the machines and consume electricity or he’ll get “a visit”. Higher ups are watching the electricity numbers. The anti-Li Keqiang indicator!

 

 

 

 

 

 

 

https://www.zerohedge.com/economics/lights-are-no-ones-working-how-china-faking-coronavirus-recovery

In a number of countries, projects have been canceled, downsized or scrutinized. Malaysia renegotiated the terms of a rail link being built by China and scrapped $3 billion of planned pipelines. In Kenya, a court halted construction last year on a $2 billion power plant financed by China. And in Sri Lanka, new leaders said they want to regain control of a port in Hambantota that was leased to a Chinese company for 99 years when the previous government couldn’t pay back a loan. That takeover sparked concern in many Belt and Road countries that China’s largesse comes with the risk of ceding critical infrastructure. And it has increased wariness about the price of indebtedness to China, which the Washington-based Center for Global Development says puts at least eight nations, including Pakistan, at high risk of debt distress.

 

 

 

 

 

 

 

https://www.bloomberg.com/news/features/2020-02-26/coronavirus-impact-hits-australia-most-china-reliant-economy

Said otherwise, unless China reboots its economy, it faces an economic shock the likes of which it has never seen before. Yet it can’t reboot the economy unless it truly stops the viral pandemic, something it will never be able to do if it lies to the population that the pandemic is almost over in hopes of forcing people to get back to work. Hence the most diabolic Catch 22 for China’s social and economic system, because whereas until now China could easily lie its way out of any problem, in this case lying will only make the underlying (viral pandemic) problem worse as sick people return to work, only to infect even more co-workers, forcing even more businesses to be quarantined.

 

 

 

 

https://www.zerohedge.com/economics/it-will-be-really-really-bad-china-faces-financial-armageddon-85-businesses-set-run-out

When you are locked in your home for weeks, with no income, and people are dying in the streets, guess what happens to retail sales.

 

 

 

 

 

https://moneymaven.io/mishtalk/economics/with-half-of-china-locked-up-car-sales-plunge-92-qk2y9a0n6ESI3R6kbaTgYw

Earlier this month, over half of China extended shutdowns to contain the outbreak. Last year, those parts of China accounted for more than 80% of national GDP and 90% of exports. That disruption of the world’s manufacturing hub has severely hit supply chains globally, with companies still dealing with the fallout.

As China struggles to get back on its feet, with factories starting to reopen and workers trickling back, progress is slow. Returning workers need to follow quarantine orders, meaning factories are still operating at limited capacity.

% the year before.

 

 

 

 

https://www.cnbc.com/2020/02/19/xi-jinping-to-meet-chinas-2020-growth-target-amid-coronavirus.html

That brings us back to concerns over just how bad the reverberations from Covid-19 will be. The China of 2020 is very different to that of 2003, and so today’s epidemic is likely to have a much bigger international impact than the SARS virus to which it is most often compared. For a start, China’s oil consumption now is more than twice what it was when SARS hit and last year the country accounted for more than three-quarters of the growth in global oil demand, according to the IEA.

 

 

 

 

 

https://www.bloomberg.com/opinion/articles/2020-02-16/opec-underestimates-china-virus-s-impact-on-oil-demand?srnd=opinion