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🧵 China’s Winning The Real Economic War
💪🇨🇳😈 Xi’s Masterplan Revealed
The real economic battle is in the war for commodities and China is winning it. From oil and gas to gold and grains, China is hoarding the world's commodities in their bid to compete with the US.
💪🇨🇳😈 Xi’s Masterplan Revealed
The real economic battle is in the war for commodities and China is winning it. From oil and gas to gold and grains, China is hoarding the world's commodities in their bid to compete with the US.
But the agenda goes deeper than that and we must understand China's moves to control the world's commodity supply!
According to the USDA China holds half of the world’s wheat reserves and 70% of its corn. After five consecutive record crops, India now has one-tenth of global wheat stockpiles. The U.S. has 6% and 12% of global wheat and corn reserves, respectively.
farrellymitchell.com/our-thinking/l…
farrellymitchell.com/our-thinking/l…
MT GLOBAL MARKETS Momentum Weekly Recap wk32 as of 09Aug19 - PFLUGPOST thread 1/n
• RiskOFF mode
• China allowed CNY to weaken
• safe haven rally bonds/gold/JPY
• creditspreads wider
• volatile stocks with some V-shaped intra-week rebound
• 10 further CB's cut rates!
• RiskOFF mode
• China allowed CNY to weaken
• safe haven rally bonds/gold/JPY
• creditspreads wider
• volatile stocks with some V-shaped intra-week rebound
• 10 further CB's cut rates!
2/n update Global Markets YTD as of wk32
3/n update Global Markets performance WoW, MoM, YTD, YoY as of wk32
Good morning🌞- another hot & hazy Thursday in 🇭🇰. After a Trump Tweet meets a weaker Yuan fix, Asian central banks didn't stand by & slashed🔪rates (RBNZ -50bps, RBI-35bps, BOT-25bps). Today, we got the BSP & expect a 25bps cut w/ a RRR cut to add extra liquidity.
#CurrencyWar
#CurrencyWar
China July trade data is out & expectations of a sharper contraction of imports & exports weak.
Note this: China using the current account as a 1st line of defense is boosting its trade surplus via REDUCTION OF IMPORTS & that is bad news for traders 👇🏻.
Note this: China using the current account as a 1st line of defense is boosting its trade surplus via REDUCTION OF IMPORTS & that is bad news for traders 👇🏻.
Trade relationship between the US and China & the amounts w/ tariffs so far (45bn left to retaliate) & the amount not yet by the US on China (300bn left) 👇🏻. Notice the asymmetric relationship & also the last tranche mostly consumer & capital goods so Trump'll tread gently.
China fix 6.9996, a bit weaker than expected & the CNH bounced a bit. This is fun. If a currency needs a daily fix & the fix depends on both a formula & a "counter cyclical factor", basically whatever policy mandate, & FX can only be +-2%, & the PBOC says it's "managed" then...
@Trinhnomics said SK in particular was caught in the “crossfire” of the escalating US-China trade tension. “As Chinese demand declines, Korean exporters feel the pain of the trade war most acutely & why the Korean won has depreciated much more than the CNH
ft.com/content/f4fb96…
ft.com/content/f4fb96…
“We expect Asian central banks to keep easy monetary policy as economies remain weak,”said @Trinhnomics . China’s decision to let the yuan tumble adds “new headaches” for the region’s policy makers & forecasting rate cuts in India, the Philippines...
bloomberg.com/news/articles/…
bloomberg.com/news/articles/…
