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Easier said than done: National self-sufficiency in a changed world
Easier said than done: National self-sufficiency in a changed world In the wake of a rapidly evolving realignment of the world trading system resulting from the economic equivalent of World War III, President Joe Biden last week took the first of what are likely to be many steps toward building greater self-sufficiency for the United States. […]
Imports take ‘dramatically longer’ to reach US as bottlenecks bite
Imports take ‘dramatically longer’ to reach US as bottlenecks bite Indicators on trans-Pacific delivery time are all trending in the wrong direction Port of Long Beach (Photo: Shutterstock/Gagliard Photography) Planning to import goods from Asia by ocean and sell them in America this summer? Better act fast. The trans-Pacific cargo move can now take over […]
These New Numbers Are Telling Us That The Global Economic Slowdown Is Far More Advanced Than We Thought
These New Numbers Are Telling Us That The Global Economic Slowdown Is Far More Advanced Than We Thought We continue to get more confirmation that the global economy is slowing down substantially. On Monday, it was China’s turn to surprise analysts, and the numbers that they just released are absolutely stunning. When Chinese imports and […]
China Won’t Be Taking Over
China Won’t Be Taking Over Pablo Picasso Massacre in Korea 1951 In the New Year, after a close to the old one that was sort of terrible for our zombie markets, do prepare for a whole lot of stories about China (on top of Brexit and Yellow Vests and many more windmills fighting the Donald). […]
Trump’s Hand-Picked Winners and Losers: China vs Canada, NAFTA Threats, and P&G
Trump’s Hand-Picked Winners and Losers: China vs Canada, NAFTA Threats, and P&G As a single country, China is the US’s largest trading partner but Canada is the largest export partner. As Trump struggles to get a NAFTA deal going on account of Canada, the above chart puts things into perspective. Canada is the US’s largest […]
“Trump Won’t Back Down”: Bannon Warns Trade-War Will Be “Unbearably Painful” For China
“Trump Won’t Back Down”: Bannon Warns Trade-War Will Be “Unbearably Painful” For China Steve Bannon – who claims to have helped President Trump draft the battle plan for the ongoing trade war, says that Trump’s strategy is to make the conflict “unprecedentedly large” and “unbearably painful” for Beijing, according to an exclusive interview with the South China Morning […]
Trading away our future?
Trading away our future? Early trade was about ecological adaptation, transporting essential food or other essential goods to a places where they were lacking. Very little in present international trade is based on that. Instead, trade in itself creates shortages. Today, Sweden only produces half the beef it consumes. This is not because there is […]
Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year
Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year We just got more evidence that global trade is absolutely imploding. Chinese exports dropped 25.4 percent during the month of February compared to a year ago, and Chinese imports fell 13.8 percent compared to a year ago. For Chinese exports, that was the worst decline that […]
I’m in Awe at Just How Fast Global Trade is Unraveling
I’m in Awe at Just How Fast Global Trade is Unraveling It simply doesn’t let up. Global trade is skidding south at a breath-taking speed. China produced a doozie: The General Administration of Customs reported on Monday that in yuan terms, exports dropped 6.6% in January from a year ago while imports plunged 14.4%. In dollar […]
Canada Rebels against the Destruction of the Loonie
Canada Rebels against the Destruction of the Loonie The fear of “currency instability.” “Without precedent” — that’s what National Bank of Canada’s chief economist Stéfane Marion called the wholesale destruction of the loonie. The Canadian dollar is in a tailspin. Rarely has it tumbled so far so fast, and against so many currencies. The steepness of […]
Canadians Are Panicking Over Food Costs After Currency Collapse
Canadians Are Panicking Over Food Costs After Currency Collapse It’s no secret that America has a serious inflation problem. Though the Federal Reserve insists that our inflation rate is only at around .5%, we’ve all seen the price of food, rent, healthcare, and energy skyrocket over the past 10-20 years. However, this has been a […]
Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing”
Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing” Worst. Ever. As Bloomberg adds, China, which makes about half the world’s steel, is on track for the biggest drop in output for more than two decades, according to data compiled by Bloomberg Intelligence… Owners are reeling as China’s combined seaborne imports of iron ore and […]
We Have Never Seen Global Trade Collapse This Dramatically Outside Of A Major Recession
We Have Never Seen Global Trade Collapse This Dramatically Outside Of A Major Recession If you have been watching for the next major global economic downturn, you can now stop waiting, because it has officially arrived. Never before in history has global trade collapsed this dramatically outside of a major worldwide recession. And this makes […]
China’s Economy Even Worse than Suspected?
China’s Economy Even Worse than Suspected? It’s always good to have a plan. So China has a new five-year plan, its 13th. And the plan is to dial down China’s formerly white-hot economy to a target of “medium-high economic growth” for the five years starting in 2016. “The country will promote greater sophistication in its […]
