business

China trade shrinks amid virus pressure, interest rate hikes

12 Comments
By JOE McDONALD

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12 Comments
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Told you so. That's what happens when you don't listen to the experts aka WHO

4 ( +4 / -0 )

China continues to reject Western vaccines. Not surprising, when you understand the country's ultimate grand strategy -- self-sufficiency while global domination of strategic industries like IT, as outlined in the "Made in China" initiative.

The world needs to work together to ensure that Beijing fails in this strategy, which is the greatest threat to our prosperity right now.

2 ( +4 / -2 )

All these numbers are fictional. The truth must be much, much, worse if they are admitting to these declines.

1 ( +3 / -2 )

All these numbers are fictional.

...but regardless, everyone else feel the pain. The supply crunch and massive inflation we're all suffering from has its roots in the Ukraine war, but China is adding to the sufferings to amplify the supply crunch.

The interest rate rises has caused economic storms everywhere, and a massive trade deficit for USA.

So don't think what China is doing is not intentional. Master of zero sum game, China would gladly loose a little to see the West loose big.

0 ( +2 / -2 )

All these numbers are fictional. The truth must be much, much, worse if they are admitting to these declines.

I agree 100%

-1 ( +3 / -4 )

 Master of zero sum game, China would gladly loose a little to see the West loose big.

That is not a "zero sum game". Zero sum means the gains made by one or more parties in a game are fully offset by losses incurred by the remaining party or parties in the game. If both parties lose that is not a zero sum. Learn game theory before throwing terms around like you know something.

4 ( +4 / -0 )

..but regardless, everyone else feel the pain. The supply crunch and massive inflation we're all suffering from has its roots in the Ukraine war, but China is adding to the sufferings to amplify the supply crunch.

Nope. The disruptions to the global supply chain predate the Russo-Ukraine war by a year or more. Freight rates for a 40 foot container from Shanghai to LA were running around $2,000 in early 2020 were up to $20,000 by early 2021. Chinese ports shut down for two weeks at a time halting the unloading of ships in port and leaving them stranded there half unloaded. Ships waited weeks, even months off Chinese ports to unload. Shippers could not get freight into the gates of ports to be loaded. Unloaded freight could not be moved to the eventual customer. Ships stranded in Chinese ports were ships unable to make their next port call on time and shipping schedules were thrown into disarray all around the world. Shipping rates for everything skyrocketed, raising prices. Due to Covid restrictions consumers switched spending from entertainment and dining out to buying stuff on line, adding to the demand for goods from abroad that had to travel on ships. Shortages developed in multiple markets further increasing prices. All of that was starting to sort itself out when the Russo Ukraine War started and threw global markets and the shipping industry into disarray again. But obtw, the price to move a 40 foot container from Shanghai to LA is now down to around $1,900 slightly below pre-pandemic shipping rates. Shipping backlogs in the US have disappeared and port volumes are greatly reduced.

3 ( +3 / -0 )

That is not a "zero sum game".

Sure, but starting from zero sum, what China is doing simply builds on it, or intentionally gives up a little to hurt a lot. Still not a win/win.

-1 ( +0 / -1 )

Nope. The disruptions to the global supply chain predate the Russo-Ukraine war

You're referring to covid shutdown, covid disruption is unplanned, unavoidable. Unless you believe the CCP that USA planted ut.

Ukraine supply crunch is systemic and avoidable at the outset. A single statement 'Ukraine won't be accepted into NATO for now'.

You could at least be a bit more 'informed about your own proposition, not doing so makes you appear like a stooge.

I've cancelled 9 paywall this year because these media outlets are now presenting themselves as nothing more than a stooge for hire, I'd be willing to bet if you had any paywall sub, you're not having any doubts because, and based on your cherry picking posts, you've swallowed the bait whole.

-1 ( +0 / -1 )

The world needs to work together to ensure that Beijing fails in this strategy, which is the greatest threat to our prosperity right now.

Well said Jeff!

0 ( +2 / -2 )

@Sh1mon M4sada, this is what you said in your original post:

".but regardless, everyone else feel the pain. The supply crunch and massive inflation we're all suffering from has its roots in the Ukraine war, but China is adding to the sufferings to amplify the supply crunch.

The interest rate rises has caused economic storms everywhere, and a massive trade deficit for USA."

That is what you said and it is incorrect. The root of global economic pain is not the Russo-Ukraine War, though it certainly added a layer to it, but rather the global Covid-19 pandemic and the supply chain disruptions caused by ports, mostly Chinese ports but others were involved, shutting down and changes in buying habits of consumers in wealthy nations.

1 ( +1 / -0 )

Btw I don't even know what paywall is. If I can't pay cash for something I don't buy it, and that includes things like homes and automobiles. I prefer to let banks pay me their pinche little interest on money saved than pay them much higher interest on money borrowed.

1 ( +1 / -0 )

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