Chinese Economics Thread

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gelgoog

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China is switching to EVs. This shows up as decreased demand for oil. And then Western economic 'analysts' claim this is clear signs of a downturn. When it is just an industrial revolution in progress. Something positive. Simply pathetic.
Hopefully this will lead the petroleum refinery companies in China to focus more on chemical products and displace the huge amount of imports in the sector.
In the meantime there will be huge economic displacements as older ICE vehicle companies shrink or die.
 
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N00813

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Yields on New China Dollar Bonds Fall Below Treasuries in Debut

(Bloomberg) -- China just borrowed dollars in global credit markets at essentially the same cost as the US, and traders immediately drove the yields on the bonds down even further.

The nation raised $2 billion in a sale of three- and five-year notes. The securities were priced to yield just one and three basis points over similar-maturity Treasuries, respectively. Then once trading kicked off Thursday, spreads tightened to about 24 and 25 basis points under Treasuries, traders said.
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More broadly emerging-market dollar bonds have been increasingly attractive, after worries over default risks across sovereign borrowers triggered by the pandemic eased. The extra yield investors demand to hold such debt versus Treasuries fell to a four-year low this week, narrowing to 323 basis points, according to a JPMorgan Chase & Co. index.

Even amid that strength, China stands out. The yield on its dollar note due November 2027 has been below that for Treasuries for most of the past year. It was last about 18 basis points under the equivalent US government bond, Bloomberg-compiled data show.
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tphuang

tphuang

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The company owns the only operating lithium mine in the US in Nevada and is securing permits for a mine in North Carolina. Masters told the FT that the development of that mine depends on “what the economics look like at the time”. “Once we get through permitting, we’ll have to make a decision whether we do it,” Masters said. The company plans to spend $800mn-$900mn in capital expenditures globally next year, about half of this year’s spending. The slowdown from Albemarle comes as producers report lower profits and pull back on expansion plans. In August, Piedmont Lithium scrapped its plans to build an $800mn refinery in Tennessee. In September, International Battery Metals suspended operations at its lithium plant in Utah two months after it started production.
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all these people that got fantasies of building China free this and that never seem to think about the basic economics.
 
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