China
On Wednesday, the European Commission announced it would impose tariffs ranging between 17% and 38% on imports of Chinese EVs starting next month. These duties will be applied on top of existing 10% across-the-board tariffs on all Chinese EV imports, and…
According to BCA Research’s China Investment Strategy service, it is an overstatement to assert that China’s subsidies are the main driver of its green energy industries’ competitiveness. It is commonly perceived that China heavily subsidizes its industry…
The issue of "industrial overcapacity" in China may be a misconception. Overcapacity in the old-economy sectors has largely diminished, while China's dominance in the global green-energy market reflects its technological advancements and innovations.
The redeployment of pandemic-era excess savings has been a significant driver of US consumption growth and helped the economy avoid a recession last year. Although pandemic-era fiscal support was less generous in China, households nevertheless accumulated CNY…
China’s exports in USD terms surged 7.6% y/y in May, from 1.5% in April, surpassing expectations of a 5.7% gain. However, base effects largely overstate the strength of Chinese exports given that they contracted by 8% y/y in May 2023. Subsequent declines…
The Caixin Chinese manufacturing PMI reached a two-year high in May, expanding at a larger-than-expected rate from 51.4 to 51.7. The Caixin figure thus contrasts with the alternative NBS manufacturing PMI, which unexpectedly contracted in May. The Caixin…
European stocks have massively underperformed US ones since the GFC. Demographics and productivity say this trend will continue, but is that really so?
The US economy is in the “Overheating” phase, so stronger growth brings higher inflation. Tight monetary policy means recession is still likely over the next 12 months. Stay defensive.
In this report, we gauge the outlook for the dollar given client visits in Africa.
Chinese PMIs from the National Bureau of Statistics (NBS) disappointed in May. The manufacturing PMI contracted in May (49.5), breaking a two-month expansion streak and disappointing expectations of continued growth. Meanwhile, the services sector PMI…