The PBOC promised to boost China’s GDP
The PBOC reduced the one-year loan prime rate to 3.45% and the five-year LPR to 4.20%, indicating China’s limited monetary policy flexibility. The drop comes amid a faltering post-COVID economic recovery and falling oil imports. The stagnant mortgage rate raises concerns about China’s real estate crisis, with many developers facing debt defaults. Investors seek targeted…
Oil price start another hiking weeks
Oil prices gained in Asian trade on Monday due to tighter supply, despite China’s disappointing interest rate drop. Crude prices fell from 2023 highs, ending a seven-week winning streak. Tighter supply from production cuts from Saudi Arabia and Russia stabilized prices.
China’s global trade demand has fell for months
China’s global trade significance is significant, and any slowdown will affect worldwide markets. Softening Chinese demand has caused a reduction in trade, with exports falling for three months and imports for five. This could hurt US and international producers and exporters, and restoring lost demand may be difficult. Supply-chain analytics firm LevaData CEO Keith Hartley…
China’s economy is struggling on many sector. would it impact on world’s markets?
China’s economic woes have grown significantly since President Xi Jinping lifted his “zero-COVID” restrictions in December. Experts fear that China’s economic woes could affect other countries, as seen in recent data. China’s economy is struggling, with worse industrial production, retail sales, and exports than expected. This is due to an unstable property market, with issues…
FED reported banks loan has decline
The Federal Reserve reported that US commercial banks reduced business lending, with total bank credit declining to $17.23 trillion, down from $17.25 trillion and $17.32 trillion a year earlier. Commercial and industrial loans decreased to $2.74 trillion, and loans and leases fell to $12.13 trillion.
China economic problems have chilled global markets
The property crisis in China has raised concerns about financial system contagion, which could destabilize an already weak economy due to weak domestic and foreign demand, falling industry output, and rising unemployment. Nomura lowered China’s GDP prediction for this year, now expecting 4.6% growth, down from 5.1%. Increasing numbers of economists worry that China may…
China Evergrande Group seek protection in a major debt restructuring
China Evergrande Group has filed for U.S. bankruptcy protection in a major debt restructuring, amid concerns over China’s property crisis and its impact on the economy. The company, a top-selling developer, has become the poster child for the country’s massive debt problem in the property sector, which accounts for 25% of the economy. Evergrande plans…
Argentina has set oil prices far below international level
Argentina has set drillers’ oil prices at $56, much below international levels, to curb inflation after currency devaluation. This decision means shale companies would earn 11% less than the second-quarter $63 local light crude price and far from Brent, which is around $84. Producers of heavier Escalante crude from other places will receive a $5…