Export Pessimism

Australia broke another export record in April as high iron ore prices poured into rivers of gold for the mining sector, further thwarting China’s attempts to punish us for criticizing its human rights policy. But the pace of our latest export surge is slowing, complicating our economic recovery as China …

Bloomberg World faces longer supply shortage as Chinese factories come under pressure (Bloomberg) – Eric Li’s factory making glass lampshades for companies like Home Depot Inc. is being pushed to its limits with sales doubling their pre-pandemic level. But like many Chinese manufacturers, it has no plans to expand its …

South Korean consumer confidence strengthened to a nearly three-year high in May, fueling optimism that the economy is on track for a strong recovery from the pandemic crisis. The consumer confidence index rose for a fifth consecutive month to 105.2, the highest since June 2018, the Bank of Korea said …

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions. The government has even gone so far as to warn investors against speculative cryptocurrency trading. This is another attempt by China to shut down the digital trading market and under the ban, institutions must not …

Through Siphelele Dludla 9h ago Share this article: ShareTweetShareShareShareE-mailShare JOHANNESBURG – MINISTER of Trade, Industry and Competition Ebrahim Patel said yesterday that the government has mobilized at least Rand 40 million from the private sector to support job locating initiatives. The ministry announced a change in industrial policy to create …

According to a notice posted on the official WeChat account of the People Bank of China (PBOC), virtual currencies, including Bitcoin, cannot be used in the Chinese economy because they are not considered “real currencies” . He added that financial institutions are not allowed to price products and services using …

Bloomberg China Property Giant billionaire founder dies of illness (Bloomberg) – The billionaire founder of KE Holdings Inc. has died of an unspecified illness, a shocking development for a Chinese real estate company that has had one of the strongest debuts in the U.S. market of 2020.Zuo Hui, who transformed …

Bloomberg Wealth fund that quadrupled profits now pivots with bet on Europe (Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The Nigerian Sovereign Investment Authority, fresh off a 51% asset surge that took the fund to above $ 2 billion, …

Bloomberg Crypto Hedge Funds Buy Bitcoin Balance Sheet Weekly Low (Bloomberg) – Felix Dian is fighting the spirits after this week’s crypto collapse. Like many pros, the former Morgan Stanley trader says Bitcoin’s volatility actually shows why hedge funds are in the digital currency game: To ride boom and bust …

Bloomberg Bubble Risks Test China’s Commitment to No Drastic Policy Change (Bloomberg) – Despite Beijing’s best efforts, asset bubbles are forming in China and house prices are skyrocketing, prompting officials to revive the idea of ​​a national property tax. A surge in commodity prices has spurred promises to increase domestic …