Great news from both fronts! US retail sales up is basically saying more purchase of chinese goods! Well done all around! Long live Nanjing Road! Long live Wal-mart! May we have 10,000 years of shopping with endless coupons!
Chinese Economics Thread
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Great news from both fronts! US retail sales up is basically saying more purchase of chinese goods! Well done all around! Long live Nanjing Road! Long live Wal-mart! May we have 10,000 years of shopping with endless coupons!
Don't you recall that the USA is a service-based economy?
You seem to have missed how spending on services in the USA has collapsed.
So with the government paychecks and how the rich are diverting their spending to retail goods, it shouldn't be too surprising to see US retail spending holding up.
In comparison, both services spending and retail spending in China is back to normal.
Probably true, like I said before, shouldn't ban coal import during the winter.
Beijing had problems with LNG. My hometown in the north has problems every year, they try to delay the heating as much as possible (Only turn it on when it reaches -20C)
It's not really news, esp considering recent LNG prices. Energy security in China is an ongoing issue.
It's true but the problem isn't lack of coal, it's local government trying to hit annual emission target. They thought all would be well but the big boost in export means a lot of energy use throughout the year, and the effect of the pandemic shutdown on emission was overestimated and more than made up by all that manufacturing.
Well okay in theory it does have a tiny bit to do with the trade war with Australia, because Australia's coal is quite clean burning. Switching to lower grades of coal from Mongolia/domestic means the emission is also worse.
EU and China revive hopes of investment deal this year
Long-delayed accord on market access would represent a diplomatic coup for both powers
China and the EU are rushing to meet a year-end deadline to seal a long-awaited investment agreement, in a sign of the bloc’s push to build strategic ties with Beijing, even as it revives relations with the US.
The likelihood of the accord being settled soon is rising despite the disruption caused by the coronavirus crisis, officials from both sides have told the Financial Times. A shift by Beijing in the important area of market access has given the process additional momentum, EU officials said.
The EU has long yearned for an agreement to allow its companies wider entry to the Chinese market, and the two sides agreed last year that it should be concluded by the end of 2020. Securing a deal would be a diplomatic coup for both powers. It would come weeks before the inauguration of US president-elect Joe Biden, which has the potential to foster improved transatlantic trade ties after tensions with the Trump administration.
Long-delayed accord on market access would represent a diplomatic coup for both powers
China and the EU are rushing to meet a year-end deadline to seal a long-awaited investment agreement, in a sign of the bloc’s push to build strategic ties with Beijing, even as it revives relations with the US.
The likelihood of the accord being settled soon is rising despite the disruption caused by the coronavirus crisis, officials from both sides have told the Financial Times. A shift by Beijing in the important area of market access has given the process additional momentum, EU officials said.
The EU has long yearned for an agreement to allow its companies wider entry to the Chinese market, and the two sides agreed last year that it should be concluded by the end of 2020. Securing a deal would be a diplomatic coup for both powers. It would come weeks before the inauguration of US president-elect Joe Biden, which has the potential to foster improved transatlantic trade ties after tensions with the Trump administration.
I don't know why EU complains about market access when there is so many goddamn European luxury brand products in Chinese malls and online sites.
Tesla-Style Rally Puts Chinese Electric-Vehicle Makers on Par With GM, Ford
Chinese EV companies—most of them unprofitable—have seen their valuations soar to levels similar to those of the American auto giants
China’s electric-vehicle makers have surged in value, boosted by bold national green-energy targets and individual investors hoping for a repeat of Tesla Inc.’s stunning performance.
American depositary receipts in NIO Inc., NIO 2.98% the best known Chinese company focused solely on electric vehicles, have jumped roughly 11-fold this year, lifting its market value to nearly $70 billion as of Wednesday, according to FactSet. In Hong Kong, shares of Warren Buffett -backed BYD Co. 1211 +1.20% , which produces hybrid electric- and gasoline-powered cars, as well as batteries, have more than quadrupled, valuing it at $69 billion.
The meteoric rises put these companies in line with large traditional car makers, such as General Motors Co. and Ford Motor Co. , which had market values of $59 billion and $36 billion, respectively, on a fully diluted basis.
Chinese EV companies—most of them unprofitable—have seen their valuations soar to levels similar to those of the American auto giants
China’s electric-vehicle makers have surged in value, boosted by bold national green-energy targets and individual investors hoping for a repeat of Tesla Inc.’s stunning performance.
American depositary receipts in NIO Inc., NIO 2.98% the best known Chinese company focused solely on electric vehicles, have jumped roughly 11-fold this year, lifting its market value to nearly $70 billion as of Wednesday, according to FactSet. In Hong Kong, shares of Warren Buffett -backed BYD Co. 1211 +1.20% , which produces hybrid electric- and gasoline-powered cars, as well as batteries, have more than quadrupled, valuing it at $69 billion.
The meteoric rises put these companies in line with large traditional car makers, such as General Motors Co. and Ford Motor Co. , which had market values of $59 billion and $36 billion, respectively, on a fully diluted basis.