It is the 16th of October 2019

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China Proposes A Fix For Its Crashing Housing Market: "Transplant" 100 Million Farmers Into Its Cities

Following China's Central Economic Work Conference which concluded on Monday, and which mapped out China's economic priorities for next year, global markets soared on speculation that China will, once again, unleash some form of stimulus, which in turn sent commodities surging over the past three days even though ironically any incremental injections, monetary or fiscal, will simply force domestic producers - already on the brink of bankruptcy - to produce more, export even more, and accelerate the global deflationary tide which earlier today forced the US to fire the first trade war salvo after the Department Of Commerce announced Chinese steel imports will be taxed at 256%.

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The Trade Wars Begin: U.S. Imposes 256% Tarriff On Chinese Steel Imports

Two weeks ago, when looking at the latest import price index data, we showed something disturbing: China has become an all out exporter of deflation. As the chart below shows, In November, import prices from China decreased 1.5% over the past 12 months, the largest year-over-year drop since the index declined 1.7% for the year ended in January 2010.

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