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Signs didn't just appear, trend clear as day back in our April data: "Domestic orders continue to contract, but now foreign orders have also crumbled"
Our May data showed improved orders at home but cont'd contraction abroad
PMIs often lag us by 2-6 wks
https://www.wsj.com/articles/chinas-barely-begun-economic-recovery-shows-signs-of-stalling-11590989703
What can save the day? More Chinese #steel!
https://af.reuters.com/article/commoditiesNews/idAFL4N2D71VF
"HK is a signif hub for US banks, =5% of the city's banking in '19, w/$166B in total assets. Last yr US banks played key roles in biggest listings, incl Citi, JPM & MS as joint global coordinators for $BABA’s $12.9B secondary, 2nd largest globally in '19"
https://www.scmp.com/business/banking-finance/article/3086565/could-american-banks-get-caught-middle-us-china-rift-over
About Cbb
We Guide Your China Strategy
China Beige Book provides institutional investors and corporate decision-makers with market leading insights derived directly from our nationwide proprietary data on the Chinese economy.
CBB IN THE News
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