Archives of “china” tagrss
RBA and RBNZ to announce rate decisions
- OPEC+ meeting all day
- Spain’s unemployment change, 3 AM ET/ 0700 GMT
- Reserve Bank of Australia rate decision, 11:30 PM ET Monday/0330 GMT. Rate expected to remain steady at 0.10%
- US ISM services PMI for September. Estimate 59.9 versus 61.7 last month. 10 AM ET/1400 GMT
- ECB’s Lagarde speaks, 11 AM ET/1500 GMT
- FOMC Quarles speaks, 1:15 PM ET/1715 GMT
- RBNZ rate decision, expected 0.25% hike to 0.5% from 0.25%. 9 PM ET/0100 GMT
- ADP nonfarm employment change, estimate 455K versus 374K last month. 8:15 AM ET/1215 GMT
- US crude oil inventories, 10:30 AM ET
- US unemployment claims. Estimate 350K versus 362K last week. 8:30 AM ET/1230 GMT
- Canada Ivey PMI. Estimate 60.3 versus 66.0 last month. 10 AM ET/1400 GMT
- BOC Macklem schedule to speak. 12 PM ET/1600 GMT
- RBA financial stability review, 8:30 PM ET/0030 GMT
- Canada employment change. Estimate 61.2K vs 90.2 last month. 8:30 AM ET/1230 GMT
- Canada unemployment rate. Estimate 6.9% versus 7.1% last month
- US nonfarm payroll. Estimate 490K versus 235K last month. 8:30 AM ET/1230 GMT
- US unemployment rate. Estimate 5.1% versus 5.2% last month. 8:30 AM ET/1230 GMT
- US average hourly earnings, estimate 0.4% versus 0.6% last month. 8:30 AM ET/1230 GMT
An internal committee of the World Bank managed to launch an independent investigation into top brass …
- Georgieva, and a key adviser, Simeon Djankov, had pressured staff to “make specific changes to China’s data points” and boost its ranking at a time when the bank was seeking China’s support for a big capital increase.
- The report raises concerns about China’s influence at the World Bank, and the judgment of Georgieva – now managing director of the International Monetary Fund – and then-World Bank President Jim Yong Kim.
- Georgieva said she disagreed “fundamentally with the findings and interpretations” of the report and had briefed the IMF’s executive board.
Kristalina Georgieva now heads the IMF. Oh dear.
Iron ore is a huge Australian export to China. Vale with their outlook for iron ore
- Going forward on the year, on the supply side, volumes shall increase compared to 2H20
- while iron ore demand might be impacted by production cuts due to environmental restrictions in China
A high level US-China meeting is happening in Alaska today.
- China’s upper echelon diplomats will meet With Blinken and Sullivan
Unnamed sources with what is on the agenda on the Chinese side:
- China is to propose a reversal of the Trump-era China policies
- China to propose lifting of US sanctions and restrictions on Chinese companies
- China will propose a Biden-Xi virtual meeting during the April climate summit
Wall Street Journal has more here (may be gated)
These are the official China PMIs for the month, from the country’s National Bureau of Statistics.
- expected 51.5, prior 51.4
Non-manufacturing 56.4 also for a beat, expanded for the ninth straight month, best since June 2012
- expected 56.0, prior 56.2
- prior 55.3
- overall production should carry on the momentum
- export orders were most likely still robust ahead of Western holiday seasons, and domestic demand may continue to hold up
Global Times report
Based on what I know, Beijing won’t approve current agreement between ByteDance, TikTok’s parent company, and Oracle, Walmart, because the agreement would endanger China’s national security, interests and dignity.
Pres. Trump on China
- possibility of decoupling US economy from China
- says it would not lead to monetary losses
- WTO has become much better much nicer to US
- Because of Biden, China shuttered 70,000 businesses
- China faces decoupling or massive tariffs from US
- US will prohibit federal contracts to companies that outsource to China
- Dems don’t want to make a deal because they know it is good for the economy.
- He would support prove into DeJoy/donations
- We may have a vaccine before the election
- We are doing equally as well on therapeutics
- For me, the faster the better for a vaccine
- The most important thing is saving lines
US Secretary of State Mike Pompeo with the latest in the slowly escalating tit for tat deteriorating relations with China
- “For years, the Chinese Communist Party has imposed significant barriers on American diplomats working inside the PRC [People’s Republic of China]”
- senior Chinese diplomats will need approval from the State Department to visit American university campuses and meet with local government officials
- Approval will also be required for cultural events for more than 50 attendees happening outside the Chinese embassy or consular posts.
A source close to the Chinese military
According to a source close to the Chinese military, China launched 2 missiles into the South China Sea on Wednesday morning. The launch was to send a warning to the United States.