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LATEST INSIGHTS

CBB’s Miller Joins Bloomberg Radio to Discuss Concerns w/Beefing Up US Govt Semiconductor Spending

The Great Chinese Rebound? Not So Fast.
China’s own numbers as well as independently collected economic data show a full-year recession hiding in plain sight.

@ChinaBeigeBook

"#Steel production in #China has continued to charge forward despite curbs on production in Tangshan, the country’s largest producer"

https://www.scmp.com/economy/china-economy/article/3129052/chinese-steel-production-powers-ahead-despite-curbs-industrys

Good idea, but using what data? If you rely on 🇨🇳prices as your core metric you will see a #supercycle behind every corner. No way to easily differentiate bt demand surges & speculative frenzies w/o more granular #commodities sector & credit access data

https://finance.yahoo.com/news/quants-getting-ready-pounce-china-075309266.html

YES. Our Q1 🇨🇳Property report last month:

"Q1’s #Property weakness did not dampen debt financing in sectors of concern, as 3 of 5 sub-sectors borrowed more in loan & bond mkts...Property, at least, fended off Q1's #deleveraging effort"

https://www.caixinglobal.com/2021-04-09/cash-strapped-developer-china-fortune-gets-debt-reprieve-101688218.html

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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.

Trump approves TikTok deal with Oracle, WalMart

Leland Miller calls the new TikTok deal “icky” and thinks giving Oracle a stake in the business is a dicey proposition.