This year’s biggest economic event is already under way
Global, a rating agency.
China’s most direct channel of influence is via commodities. It consumes almost one-fifth of the world’s oil, over half of refined copper, nickel and zinc, and more than three-fifths of iron ore. On November 4th the mere rumour of a reopening caused a 7% increase in the price of copper by the end of the day.
. Thus China’s zero-covid policy acted as a counterweight to Russia’s invasion of Ukraine—one blunder helping to save Europe from the other.imports this year, based on the contracts buyers have already signed and their reluctance to buywhen prices are high. If imports recover faster, Europe could feel the pinch.
Thailand, a popular destination, could enjoy a three-percentage-point boost to growth once China has fully reopened, reckons Goldman Sachs. That would remove the uncertainty that weighs on local asset prices, including the currency, says Arup Raha of Oxford Economics, a research firm. That, in turn, would reduce pressure on Thailand’s central bank to raise rates—welcome freedom in a country where output is still below potential. But the biggest winner from reopening will be Hong Kong.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Taiwan counts on military conscription reform to deter China invasion\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Lire la suite »
China 'could claim the moon as its territory and ban US from landing', Nasa saysThe head of Nasa is worried China may claim the moon as its own territory – and prevent the US from landing there again.
Lire la suite »
China is rapidly rolling out its new digital currencyA national roll-out could pick up pace in 2023. But do not expect any big moves abroad
Lire la suite »
How will China navigate its post-pandemic challenges in 2023?How will China navigate its post-pandemic challenges in 2023? Listen to “The World Ahead” podcast with tomstandage and our China experts
Lire la suite »
EU offers free Covid-19 vaccines to China to help curb outbreak\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Lire la suite »