End of the China bull?

[CanOz]

China's Hidden Unemployment Rate

 

[notting]

Must be tough on makers with the apparent "glut" of steel on the world market. Wondering if the iron ore price will test the lows again.

Just with respect to this.
The fact that the Dictators went to fairly extreme lengths to curb speculation on the IO price in China that took it from 39 to 70 odd indicates to me that they are going to use stimulus to keep things as stable as they can.

China demand may surprise to the upside," Citi analysts said, adding that the government will probably maintain short-term stimulus to prop up the economy. "We remain bearish on medium-term iron ore prices, and expect the seaborne market to spend a longer time finding lows."

After three years of sliding prices, iron ore has advanced in 2016 as China's steel output rose to a record and policy makers said they'd support economic growth, catching many analysts off guard who were forecasting a fourth year of losses. The demand revival spurred a speculative rally that boosted prices in the three months to April.

 

[CanOz]

Just with respect to this.
The fact that the Dictators went to fairly extreme lengths to curb speculation on the IO price in China that took it from 39 to 70 odd indicates to me that they are going to use stimulus to keep things as stable as they can.

0:05CitiGroup raises short-term price forecasts for Iron Ore due to higher China demand- Sees 2016 at $49/ton and 2017 at 42/ton- 2019 seen at $38/ton and 2020 at $40/ton (related 6210.HK BBL BHP BHP.AU BLT.UK RIO RIO.AU RIO.OLD RIO.UK RTP.OLD VALE VALE3.BR VALE5.BR) - Source TradeTheNews.com

Yeah, seems it not quite the time to put the shorts on, but there will come a time

 

[Gringotts Bank]

The Chinese game goes like this:

Exploit the masses, massively degrade the environment and enforce your will with the backing of the Party. Keep the masses ignorant of their situation through propaganda ("wealth for all"), internet blockages and policing. Then, when you have enough blood money, start buying up property in first world countries. Use whatever dirty tricks you can to get your money offshore.

It's just like the wealthy Russians, the way they bought up Chelsea and Knightsbridge in London. Now... how do you get rich in 2nd and 3rd world nations? You cheat and you coerce. We might as well be inviting drug barons from South America to peruse our available properties.

 

[notting]

China always uses distractions whilst it does it's sneaky dirty business.
This time Brexit is being used to devalue the Yaun by stealth.

 

[CanOz]

How is it stealth? I get the fix every day

11:16USD/CNY *(CN) PBOC SETS YUAN MID POINT AT 6.6528 V 6.6375 PRIOR (lowest setting since Dec 2010, 2nd consecutive multi-year low)- Prior close 6.6585 (related CNY/USD CYB USD/CNY) - Source TradeTheNews.com

 

[notting]

How is it stealth? I get the fix every day

Well it's fixed for a start!

 

[CanOz]

trying to find some details on this...

16:11(CN) China revises GDP for 2012 and 2013 due to methodology- Raises 2012 GDP from 7.7% to 7.9%- Raises 2013 GDP from 7.7% to 7.8%- Maintains 2014 GDP more... (related CNY/USD CYB EUR/CNY FXI USD/CNY) - Source TradeTheNews.com

 

[notting]

China does nothing for the world

More than 10 million Android devices around the world have been infected with malware linked to China, according to a CNET report.

CNET, citing an analysis from cybersecurity software maker Check Point, wrote that the "HummingBad" malware was developed by a team linked to an otherwise legitimate Beijing-based firm called Yingmob.

 

[notting]

A similar opinion -

With all eyes on big dollar and sterling, Roubini Global Economics notes that nobody is watching renminbi.

Largely ignored by global investors, CNY has weakened against USD and (more modestly) against its three baskets. The sharper move, including this week's fixing below 6.60, has raised questions about the commitment of policy makers to "stable" CNY. We doubt this depreciation will help support growth/trade, but it will likely contribute to weaker [emerging markets] FX

 

[CanOz]

A very local problem in China is being exported at an alarming rate.

Whats worse than junk bonds, Chinese junk! Now that spells potential contagion

 

[CanOz]

A couple things I came across today, try and find the bloomberg article on the bank in northern China...it's scary.

I was on a bike ride with my son this morning and I went through the new mall that opened up over a year ago across the lake from us...it's a ghost mall! I'll try and get back there today for some photos....

 

[captain black]

A couple things I came across today, try and find the bloomberg article on the bank in northern China...it's scary.

Is this the one? Article posted earlier on the ForexLive news feed:

http://news.forexlive.com/!/chinas-best-bank-called-mirage-of-shadow-lending-20160823

Bloomberg link in the article.

 

[CanOz]

That's it captain! Thanks for posting!!! Scary stuff....makes me sick to my stomach. This whole economy is toxic, the business culture is toxic....just the worst waste of resources I'm sure the planet will ever witness.

 

[qldfrog]

A couple things I came across today, try and find the bloomberg article on the bank in northern China...it's scary.

I was on a bike ride with my son this morning and I went through the new mall that opened up over a year ago across the lake from us...it's a ghost mall! I'll try and get back there today for some photos....

in China or in Oz?

 

[CanOz]

in China or in Oz?

China, near Shanghai

 

[Tyler Durden]

Looking forward to the pics. Always interested in 'street level' views rather than relying on media which can be beat up at times.

 

[JessaFrance]

China is an economic paradox for sure. China boosted such property markets as Canada and Australia or New Zealand. Vancouver is in chaos because of Chinese property investors. Canada is the fifth most popular country with Chinese property investors who are interested in purchasing condos for their children near universities. As a result, single-detached homes first move further into luxury budget territory leaving first-time buyers with funds enough for a condo and now we see what is going on.

 

[notting]

China always does it's dirty work when the world is distracted by other events.

This time they put out some more realistic figures on what's really happening to their economy whilst the US election circus has everyone wondering what the fuc4 is wrong with Americans!

Note that they have slyly allowed the Yuan to depreciate against the world basket of currencies about 6% over the year

China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived.

 

[CanOz]

China always does it's dirty work when the world is distracted by other events.

This time they put out some more realistic figures on what's really happening to their economy whilst the US election circus has everyone wondering what the fuc4 is wrong with Americans!

Note that they have slyly allowed the Yuan to depreciate against the world basket of currencies about 6% over the year

Certainly had an impact on the markets....