China’s CPI climbs by a less-than-expected 0.6% as transport and home goods prices fall
"China on Monday reported its consumer price index rose by 0.6% year on year in August, missing expectations as transportation and home goods prices, as well as rents declined
[...] Food prices climbed by 2.8% year on year in August, the first positive print since June 2023, according to Wind Information data. Pork prices surged by 16.1% in August, while vegetable prices climbed by 21.8%."
--- Pork prices don't say much because they are always very volatile. Higher vegetable prices probably reflect the bad harvest this year. & else there is not much in China that shows inflation. Hence:
"The producer price index fell by 1.8% year on year in August
[...] The downward pressure on the producer price index remains large due to insufficient domestic demand and the drag from real estate"
--- Really going well, that recovery.
China’s Deflationary Spiral Is Now Entering Dangerous New Stage
"A broader measure of economy-wide prices known as the gross domestic product deflator will likely extend its current five-quarter drop into 2025, according to Bloomberg Economics and analysts at banks including BNP Paribas SA. That would amount to China’s longest streak of deflation since data began in 1993.
[...] The danger for China is deflation could snowball by encouraging households reeling from falling paychecks to cut back on spending, or delay purchases because they expect prices to fall further. Corporate revenues will suffer, stifling investment and leading to further salary cuts and layoffs, bankrupting families and firms.
Private surveys show that’s already starting to happen. In sectors of the economy favored by the government — such as electric vehicle-manufacturing and renewables — entry-level salaries declined by almost 10% in August from a peak in 2022"
--- Funny, how everything seems to point to a recession, & yet:
"The weak price pressures are evident in the growth pace of China’s nominal GDP, which expanded just 4% in the second quarter"
--- They still trust in official Chinese growth 'data'.
Prominent French museums face criticism for replacing ‘Tibet’ with ‘Xizang’ under Chinese influence
"According to the French newspaper Le Monde, the Musée du quai Branly has reportedly replaced “Tibet” with “Xizang Autonomous Region,” the romanised version of a Chinese term, in its catalogue of Tibetan artefacts. Similarly, the Musée Guimet has renamed its exhibition spaces dedicated to Tibet as the “Himalayan world.”"
--- Don't know whether you can call these musea 'prominent', but it's a bit worrying nevertheless. I would have thought, that by now most of Europe knows what's going on in China. The question is whether the museum directors are simply stupid or whether they are leftists doing this on purpose.
China announces joint naval, air drills with Russia
"The Chinese Defense Ministry on Monday said it would hold joint military drills with Russia sending naval and air forces for a maritime patrol of "relevant areas of the Pacific Ocean" in September."
--- Relevant for who, for what & why, I wonder...
China slams Germany’s reported plan to sail through Taiwan Strait
"Beijing on Monday responded to the news of a planned passage through the Taiwan Strait by two German warships, warning against “provoking and endangering China’s sovereignty and security under the guise of freedom of navigation.”"
--- The usual bullshit.
"Germany’s navy is planning to send two ships through the Taiwan Strait in mid-September, German media reported."
--- One German magazine reported this. There is still no official confirmation. Chancellor Scholz doesn't like the idea, but his coalition partners want it to happen.
US thinktank leader arrested on charges of acting as unregistered agent of China
Whistleblowing pandemic journalist Zhang Zhan back in detention
Xi’s latest message to North Korea’s Kim hints at cooling ties
China Expands Influence in Brazil through Universities
--- China Uncensored: "China Is "Reforming." It Will Go Badly"
China kritisiert mögliche Route durch Taiwanstraße
"Taiwan sei ein untrennbarer Teil Chinas und die Gewässer in der Taiwanstraße seien chinesische Gewässer, sagte Mao."
--- Selbst wenn das so wäre, wäre nach Seerecht eine Durchfahrt trotzdem legal.
"Aus Sicht des Generalinspekteurs der Bundeswehr würde die Route ohnehin keine Provokation der Volksrepublik China darstellen. "Ich glaube nicht, dass wir die Provokation Chinas riskieren, sondern eher umgekehrt; dass mit der Wahrnehmung und den Punkten, die China hier mit hineinbringt, genau dieses internationale Recht infrage gestellt wird""
--- So ist es.
Deflation in China? Ökonomen fordern "radikale politische Reaktionen"
"„Wir befinden uns definitiv in einer Deflation und durchlaufen wahrscheinlich die zweite Phase der Deflation“, sagte Robin Xing, Chefökonom für China bei Morgan Stanley, der Nachrichtenagentur "Bloomberg". Xing verwies auf Belege dafür, dass die Löhne in China bereits zurückgehen."
--- Die wirtschaftliche Erholung in China nimmt enorm Fahrt auf...
