Housing and exports are still down but their declines have slowed, and consumption has seen an ongoing recovery.
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Companies are attempting to dodge restrictive trade policies by increasing their outbound investment and moving operations overseas.
Consumption saw the best holiday recovery so far this year, but the housing market declined even further, dragged down by tier-3 cities.
The EU will soon launch an anti-subsidy investigation into EVs imported from China, which will likely result in price floors and tariffs next year.
Higher commodity prices appear to herald the end of China’s industrial deflation woes, and the CPI is also poised to rise.
This note is the first in a four-part series in which we will review China’s reform progress of the past decade and attempt to explain the market’s discontent.
Beijing has introduced more easing measures for the real estate sector, in addition to last week’s capital market measures.
The central bank’s interventions cannot reverse the trend of a depreciating RMB, but past lessons suggest that the USD/CNH may be near its peak.
The central bank’s interventions cannot reverse the trend of a depreciating RMB, but past lessons suggest that the USD/CNH may be near its peak.
The scope of the plan is quite limited; the White House’s goal is to allow US investors to continue investing in less-sensitive areas of Chinese tech.