Don’t be jealous But China is winning the coronavirus war.
Okay, you can be angry. At least frustrated.
Her children are at school. They do not wear masks. Waiters in Chengdu … without masks. Video game fans in Shanghai lined up at last week’s Cartoon & Game Show, with hundreds of half-masks.
And its economy will grow more than 3% this year, Barclays Capital estimated on Friday.
Chinese girls in a ballet class on July 18, 2020 in Lianyungang, Jiangsu Province of China. (Photo … [+]
The Chinese economy recovered at a growth rate of 3.2% annualized in the second quarter, against a contraction of 6.8% in the first quarter. It beat the Bloomberg consensus of 2.4%.
China’s numbers are underpinned by sustained recovery in demand, both foreign and domestic. Retail sales continue to disappoint, but car sales are dragging on most of the time.
Stimulus is the name of the game. The strong rebound is largely due to infrastructure spending and new infrastructure project approvals (they increased 11% annualized in May and 8% more in June). And the increase in real estate investment (up to around 9% from May to June), since this is the main savings account in China, since they are not allowed to invest abroad, and everyone in China knows that the stock markets Shanghai and Shenzhen stock exchanges are somewhat akin to a Macau casino.
Anyway, China is having a V-shaped recovery and we are not.
China is not having worrying outbreaks of the coronavirus. Maybe they are lying. If they are, they seem willing to endanger their schoolchildren.
See…?
It is not a photo from last year. Here, students learn CPR at their school in Lianyungang city on July 17, … [+]
Their stock market is growing as gang destroyers.
ASHR. Victorious. For long!
There’s still a surge in new export orders to a maximum of 3 months, thanks to foreigners stocking up on surgical masks and PPE that no one else in the world seems to know how to manufacture.
Overall, China’s June export data showed an expansion in export recovery from May as the US and Europe struggled, so it wasn’t just the pandemic-related product that China was shipping to world markets.
China’s V-shaped economic recovery continued for the fourth consecutive month in June, led by strong domestic demand. If COVID-19 remains under control, China can remain the best consumer story in the world.
Chinese boys tired of masks. Here, the crowds at Cartoon and Gaming Expo 2020 in Shanghai on July 16, … [+]
The 19th anniversary of the publication of “The Coming Collapse of China”, it is worth noting the resistance of the Chinese economy, which has survived the global financial crisis, Trump’s tariffs and now the coronavirus, points out the perennial bull of China Andy Rothman , investment strategist for Matthews Asia.
In 2001 Gordon Chang (Rothman’s nemesis) predicted China’s hard landing. He was not alone. Hard landing guys have been asking for this for at least as long as I’ve been covering China, both from abroad and on land, and that has been since 2011.
China is really starting to aggravate people. If not just for spreading the coronavirus, but for the fact that it is doing better than anywhere else (from the looks of it) and last year they accounted for 40% of global economic growth, greater than the combined contributions to global growth from the country. USA, EU and Japan, according to IMF data.
The EU is basically the third violin. They will choose the Chinese over the US any day of the week. And those business numbers are why. The second reason could be his disdain for the local Donald Trump in Queens, although this is only temporary. Europe will love China long after Trump is gone. Witness their silence in Hong Kong and the Uighur camps in Xinjiang.
Actually, there is supposedly an outbreak of the coronavirus in Xinjiang right now.
Although it’s worth noting, the last time China reported an outbreak was in a Beijing region and included perhaps 115 people and is now not even a headline.
A month ago, Wuhan tested 11 million of its inhabitants for the new SARS coronavirus. Wuhan is the Covid-19 base of operations. Only around 300 people had it. Three hundred of a population of 11 million that have come out of hiding. Apparently, the virus was still enough to infect 300 once they left their closed homes. But not 10.9 million more. That is incredible.
KWEB better than Nasdaq. Better than Nasdaq!
Furthermore, the first SARS lasted only 8 months and died. If he’s still alive, we never hear from him, and he certainly doesn’t push people to drink like this current version.
Love it or hate it, China is rewarding one of its biggest benefactors: Wall Street. You don’t have to work for Goldman Sachs
In April, China’s first quarter macro data was the weakest since the Tang dynasty. Life did not begin to revert to a certain appearance of normalcy until the end of March, after more than six weeks of being closed for business.
China’s economy is increasingly driven by domestic demand and technology.
Last year was the eighth year in a row that China’s consumption and services share of GDP was the largest share, outpacing exports.
Although consumer spending is likely to remain smoother than normal until next year, as even the Chinese are still at least somewhat afraid of the coronavirus, China is likely to remain the world’s best economy this year. .. and the next one.
If China’s Covid-19 data is remotely reliable, I leave it with Mr. Rothman of Matthews Asia of San Francisco:
“I know some investors are wondering if Covid data from the Chinese government can be trusted. I think there are two reasons to believe that since January 23rd“When the government closed the city of Wuhan, where the virus was first identified and has a larger population than New York City,” the Chinese government has not deliberately falsified its data. First, if the number of hospitalizations and deaths were significantly higher than official statistics, we would be hearing about this on the social networks of the family and friends of those patients. “
Makes sense. And their parents would not send their children to ballet summer camps, and the teachers probably would not have them run over each other in a classroom.
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