There is no easy exit strategy from zero-Covid for Xi Jinping. The CCP has been trapped by its own (draconian) policy. The only thing worse than three years of zero-Covid,…
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The PBoC pledged to safeguard the economy from inflation risks in its quarterly monetary policy report last Wednesday, after it projected CPI inflation would exceed 3% in H2. Headline CPI…
Nancy Pelosi’s expected visit to Taiwan is dragging Asian shares lower this morning, with the Hang Seng and Shanghai composite indices both shedding over 2%. The geopolitical threat is very…
The Hang Seng properties index dropped 2.9% yesterday and closed down again today at its lowest in over six years. Chinese credit markets continue to reel from more warnings of…
At the current juncture, these are the critical points: 1) The June CPI report was a shocker. The Fed is hiking into a rapidly slowing economy because inflation was allowed to…
Mass testing has begun in the populous district of Chaoyang, Beijing, which reported 26 covid cases over the weekend. Beijing’s residents are stocking up on essentials in anticipation of a…
The NBS non-manufacturing new orders PMI fell to 47.8 in January. Employment decreased at a faster rate: the employment sub-index declined to 46.9, the lowest reading since the start of…
The rise in the renminbi this year has been striking, both on a trade-weighted basis (+8.25%) and against the dollar (+2.29%). The trade surplus remains at record levels. At the…
By consensus, Evergrande does not represent a Lehman-style moment for China. Markets are braced, but the real threat to the economy lies in the clampdown on emissions, causing raw material…
IT upgrades in response to Covid-19 appear to have run their course. However, Google (or Alphabet) provides a good insight into the innovation that could ignite a new wave of…
