"Unexpected!"
Posted on 11/07/2022 8:40:11 AM PST by BenLurkin
Outbound shipments in October shrank 0.3% from a year earlier, a sharp turnaround from a 5.7% gain in September, official data showed on Monday, and well below analysts’ expectations for a 4.3% increase. It was the worst performance since May 2020.
The data suggests demand remains frail overall, heaping more pressure on the country’s manufacturing sector and threatening any meaningful economic revival in the face of persistent COVID-19 curbs, protracted property weakness and global recession risks.
Chinese exporters weren’t even able to capitalize on a further weakening in the yuan currency and the key year-end shopping season, underlining the broadening strains for consumers and businesses worldwide.
Apple (AAPL) said it expects lower-than-anticipated shipments of high-end iPhone 14 models following a key production cut at a virus-blighted plant in China.
China has stuck to a strict COVID-19 containment policy that has exacted a heavy economic toll and caused widespread frustration and fatigue.
Feeble October factory and trade figures suggested the world’s second-biggest economy is struggling to get out of the mire in the last quarter of 2022, after it reported a faster-than-anticipated rebound in the third quarter.
(Excerpt) Read more at cnn.com ...
Wait till 2025 as the Ukraine war enters its 3rd year and President DeSantis imposes sanctions on meddling China. 500 million starve in the Chinese countryside and their country convulses into war. The Chinese miracle is over and they are back to a Chinese supremacist backwater.
Expect the “unexpected”.
U N E X P E C T E D
[singing] those BRICS just keep gettin' harder to find, and all those BRICS ain't bringin' you peace of mind...
The thing about a centrally planned economy is that it doesn’t adjust very well to changes. Usually it involves great loss of life.
Why so many bought crap made in China..was because it was cheap.
At some point it will become to expensive for what it is.
Seems crazy that Xi insists on continuing his zero covid policies, makes no sense unless he has some some ulterior motive I don’t know about.
> Seems crazy that Xi insists on continuing his zero covid policies, makes no sense unless he has some some ulterior motive I don’t know about.
One wild rumor is that the covid lockdowns are really a cover for eliminating any foreign intelligence networks or agents inside China in order to clear the way for best advantage in a regional war.
The simpler explanation is that the Chinese commies in charge are just a bunch of knee jerk authoritarians.
This is what I don’t get. If the largest economy is on the ropes why are analysts still calling for a resumption of the oil bull market? Demand is getting slaughtered.
Good and finally. I think dollar stores make everyone poorer.
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