Shehzad Qazi Whats interesting is that while all these investment restrictions are happening, some states still courting specific Chinese investment - eg carolinas on some mineral processing and battery technology and tech transfer in the areas china dominant. Broader trend is restrictive

#BREAKING

China's capital city #Beijing relaxed home purchase restrictions for the first time in 13 years

yuantalks.com/the-wire-live-…

It wouldn't.

8/11
This is how Joan Robinson defined 'beggar-my-neighbor' policies. The surpluses are absorbed by trade partners in the form either of higher unemployment, higher fiscal deficits or higher household debt, one or more of which is needed to balance the trade deficits.

7/11
It is these excess savings that create a problem for the global economy. If domestic demand is too weak to absorb domestic production, it must lead either to domestic unemployment or to trade surpluses, with the latter effectively representing the export of unemployment.

4/11
The second conflict has to do with China's (Germany's, Japan's, etc.) excess savings and weak domestic demand. These are the structural consequences of policies that have systematically transferred income from the household sector to subsidize production and investment.

3/11
This conflict is about deciding who will dominate the strategically important industries of the future. It is likely to lead to subsidies, protection, and ultimately overcapacity in some sectors, but this is something major economies have always fought over.

1/11
In my latest piece for the FT, I argue that there are two very different trade-related conflicts involving China that are too often conflated. On the one had is the problem of excess capacity in certain industries.

ft.com/content/879f5d… via @ft

2/11
Beijing wants China to have a comparative advantage in producing certain products, like electric vehicles, solar panels, batteries and ships. Beijing has every right to support and protect these industries, but of course so do the US, the EU and other economies.

Some good news for HK market.

Some macro hedge funds have started selling Japanese shares and covering existing short positions in HK; some long-only funds may also be rotating toward HK as valuations look expensive in Japan, US - Goldman Sachs

The first Chinese scientist to publish a genomic sequence of the Covid-19 virus, in defiance of government orders, has been staging a sit-in protest after claiming he was locked out of his laboratory. theguardian.com/world/2024/apr…

BREAKING: Netanyahu says Israel will invade Rafah with or without a hostage deal

#Chinese steelmakers' profit tumbled 48% y/y in Q1, steel sector faced great difficulties - industry association

yuantalks.com/the-wire-live-…

China’s Huawei is making 564% more profit than last year, with smartphone shipments up 70% in the first quarter (Apple’s iPhone sales in China fell 19%.)
bloomberg.com/news/articles/…

“Many Chinese EV makers will target exports…to soothe the domestic pain esp since capacity has⬆️so fast over past couple of yrs. Cheaper EVs are good news for consumers & green transition. But they’re terrible news for most Western carmakers” Jacky Wong
wsj.com/finance/stocks…

'The three deals..highlighted how an increasing number of multinationals believe the only way to catch up with Chinese carmakers, which have prioritised electric vehicles and advanced technologies, is to incorporate the tech they use in their own models.'
ft.com/content/676941…

China’s black market for AI servers with Nvidia H100 chips inside saw spot prices fall over 10% to 2.7 - 2.8 million yuan (US$380,000) from over 3 million yuan, as some sellers cleared inventory ahead of the launch of Nvidia’s next-generation H200, media report, adding the price…

'The EU would need to impose huge #tariffs of about 50% to stem the flow of cheap Chinese electric vehicles into the bloc, according to a new analysis.'

Supposed 10% tariff hike in July is not going to move the needle
ft.com/content/8e4a9e…

'A separate report released this week showed a surge in Chinese manufacturing investment in the ASEAN bloc of southeast Asian countries which almost quadrupled last year. At $26B it was nearly twice the combined total for US, South Korean, Japanese firms.'
bloomberg.com/news/articles/…

Huge change from less than a decade ago, when states were trying to outdo one another to seek Chinese investment. Saw it first hand in Indiana.