The trade war may be esclating.
Bloomberg Reports:
By Mark Drajem
Sept. 16 (Bloomberg) — U.S. Steel Corp. asked the U.S. Commerce Department to impose dumping and anti-subsidy duties of as much as 90 percent on some steel pipe imports from China, five days after the Obama administration set tariffs on Chinese tires.
The petition was filed today with [...]
In this short clip Roach talks about Chinese premier Wen Jiabau, who at the World Economic Forum warned about the imbalance imbeded in the Chinese economy.
http://www.cnbc.com/id/15840232?video=1252509412&play=1
China is reacting very quickly to the Obama administration’s decision to raise tariffs on Chinese tire imports. Hopefully, this is the end of the exchange of punitive measures. If it is not, this will obviously be very bad for the world economy.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7nGNZzouDOM
Also, see this NYT article.
http://www.nytimes.com/2009/09/14/business/global/14trade.html?_r=1&ref=business
This conbined with the fall in iron, oil and copper imports suggests that China was stock piling commodities and has discontinued the practice. Unless western production and economic “growth” can make up for the slack caused by China’s discontinuation of stockpiling, commodities will likely continue to get hit hard in the short term and this may lead to a [...]
I find it interesting that this story gets very little play in the media and is buried on bloomberg and non-existent on CNBC but the story about positive reported improvements in Chinese manufacturing and Retail sales is everywere. The picture that is painted is that either (1) Chinese statistics regarding their recovery are heavily doctored [...]
This is interesting. This is the first protectionist move that the Obama administration has made with respect to China. I wonder if it is being done as a one off to appease the Steal Workers Union or as a broader policy. We will need to watch what if anything the Chinese do in response. The biggest [...]
I ran across this article in the New York Times regarding Chinese corporate accounting practices. With a market that is trading at roughly 32 times earnings it is troubling to think that the earnings which command such a high multiple are not what they appear to be.
http://dealbook.blogs.nytimes.com/2009/08/17/another-view-shanghai-ed-profits/
Guangshen Railway announced its results a few weeks ago for the first six months of 2009: “tonnage of freight transported by the Company amounted to 26.5406 million tonnes (2008 interim: 34.5508 million tonnes).” – a 23% decline. This is difficult to mesh with government reports of robust growth.
http://www.marketwatch.com/story/guangshen-railway-announces-2009-interim-results-2009-08-26?newsid=969283042&dist=bigchartssymb%3DGSH&sid=16860
The objective of this Blog is to provide some insight and discussion of Chinese economic data. To start with, I think it is important to recognize that the Chinese government is largely an unchecked authoritarian power (unlike a democracy where leaders must periodically face the voters) with an immediate objective to stay in power (like [...]