shade
New Member
- Joined
- Feb 28, 2016
- Messages
- 15,344
- Likes
- 91,832
People talking about Chinese missiles while we haven't recovered from the effects of their bio-weapon yet.
fuck globalists and fuck chinks.
btw if you want to read the second article by FT, disable javascript and cookies on your browser, that gets rid of the paywall
Ex-Goldman economist Jim O'Neill says China's economy 'well on the way' to recover from coronavirus
Big economies may be struggling but their appetite for Chinese electronics is growing
fuck globalists and fuck chinks.
btw if you want to read the second article by FT, disable javascript and cookies on your browser, that gets rid of the paywall
Ex-Goldman economist Jim O'Neill says China's economy 'well on the way' to recover from coronavirus
China’s export machine comes roaring back to lifeSINGAPORE — China is well on its way to recovering from a coronavirus pandemic-led economic crisis and will continue to be the most important marginal driver of global GDP, British economist Jim O'Neill told CNBC.
O'Neill, former chief economist at Goldman Sachs, pointed to the latest Chinese consumer spending data as a sign of China's accelerating recovery. Retail sales for August in the world's second-largest economy rose 0.5% from a year ago, the first positive report for 2020 so far.
"I suspect Chinese GDP growth could actually end 2020 as net positive still," O'Neill told CNBC in an interview. "By end 2021, Chinese GDP growth will have possibly even made up for, not only the losses, but the loss in the trend also."
Big economies may be struggling but their appetite for Chinese electronics is growing
China’s export machine was under pressure from all directions last year. A trade war with the US was weighing on demand and competition from other manufacturing hubs was heating up.
Fast-forward to mid-2020 and, thanks largely to a pandemic that originated within its borders, China’s dominance of global exports has surpassed levels seen in any other year.
The same coronavirus that hammered global trade has increased the appetite for goods made in China, such as electronics products and medical equipment. That boom in exports is supporting the country’s early recovery as other big economies flounder, raising the question of whether China’s recent trade advantage will outlive the pandemic.
Data from Oxford Economics and Haver Analytics show that while overall volumes have fallen, China’s share of global exports compared with other large exporters leapt to more than 18 per cent in April, before falling back slightly to 15.9 per cent in July.
“It is too early to write off China’s role in global supply chains,” said Louis Kuijs from Oxford Economics, who pointed to the “fundamental competitiveness” of Asian economies.
He added that the market share effect was in part temporary but suggested that “there will be some permanent shift . . . and that should benefit certain countries".
Partly a function of declining activity elsewhere, China’s recent success is also a result of a wider resilience of exports in east Asia, fuelled by a shift in global demand towards products suited to a world working from home.
Taiwan’s exports, the majority of which are electronics components and IT and communications products, reached their highest ever monthly level in August. In South Korea, exports of information and communications technology products rose year on year in each of the past three months after a sharp fall in April.