How weak US jobs data could hurt emerging markets, but boost China’s exports
Weak US jobs data for April, which fell far below expectations, have sparked concerns among some economists that the US may pursue more radical stimulus measures that could pose risks for emerging markets as capital may flow into the US from struggling economies such as India.
However, the impact on China’s financial system would be limited as the country has the world’s largest foreign currency reserves and a healthy export system, analysts said, adding that the US stimulus measures, based on Modern Monetary Theory (MMT) that tends to directly spur consumption, could even be beneficial for China’s exports to the US.
SOURCE / COMPANIES
By Global Times Published: May 10, 2021 09:28 PM
A participant at the first China International Consumer Products Expo (CICPE) takes a picture of a patrol robot at the expo center on Thursday. The CICPE is scheduled in Haikou, capital of South China s Hainan Province from May 7 to 10. Photo: ICMore than 80 percent of exhibitors at the first China International Consumer Products Expo (CICPE) said that they intend to sign up for the next trade fair, according to a statement sent from the CICPE on Monday, showing strong global confidence in China s consumption potential.
A total of 1,505 companies and 2,628 brands from 70 countries and regions joined the first CICPE, held from Friday to Monday. Since its opening, more than 80 percent of the companies have shown an intention to sign up for the next one, including L Oreal, Shiseido, Tepesch, De Beers, KPMG, and Ernst & Young, according to the statement sent to the Global Times
How weak US jobs data could hurt emerging markets, but boost China s exports
Wang Bozun Published: May 09, 2021 08:23 PM
A delivery worker rolls packages across Wall Street in New York, United States, Jan. 8, 2021. (Photo by Michael Nagle/Xinhua)Weak US jobs data for April, which fell far below expectations, have sparked concerns among some economists that the US may pursue more radical stimulus measures that could pose risks for emerging markets as capital may flow into the US from struggling economies such as India.
However, the impact on China s financial system would be limited as the country has the world s largest foreign currency reserves and a healthy export system, analysts said, adding that the US stimulus measures, based on Modern Monetary Theory (MMT) that tends to directly spur consumption, could even be beneficial for China s exports to the US.
May Day holiday augurs full-fledged consumption recovery Tourists climb Huashan Mountain in Weinan, Northwest China’s Shaanxi Province on Wednesday, the last day of the country’s five-day May Day vacation. The tourist spot put a cap of 30,000 visits per day during the holiday due to coronavirus prevention precautions. Photo: Xinhua
China’s consumption engine has almost completely recovered to post-pandemic levels, as shown by surging spending on items from travel products to duty-free goods during the 2021 May Day holidays, which witnessed the country’s largest population movement after last year’s National Day holidays.
In Haikou, a city in South China’s Hainan Province, Chinese people made 65,400 purchases amounting to 485 million yuan ($75 million) on offshore duty-free goods from Saturday to Monday, the first three days of the May Day holidays, up 215.24 percent year-on-year.
China s consumption engine fully back to rolling, May Day holiday data shows
Zhao Yusha Published: May 05, 2021 11:09 PM Updated: May 06, 2021 12:17 AM
Tourists climb Huashan Mountain in Weinan, Northwest China’s Shaanxi Province on Wednesday, the last day of the country’s five-day May Day vacation. The tourist spot put a cap of 30,000 visits per day during the holiday due to coronavirus prevention precautions. Photo: Xinhua
China s consumption engine has almost completely recovered to post-pandemic levels, as shown by surging spending on items from travel products to duty-free goods during the 2021 May Day holidays, which witnessed the country s largest population movement after last year s National Day holidays.