China’s exports fell unexpectedly in August as US trade war continues to slam industrial economy

Finbarr Bermingham:

“…China’s exports fell unexpectedly in August as the trade war with the United States continued to hit the world’s second-largest economy.

Shipments fell by 1 per cent in the month after growing 3.3 per cent in July in dollar terms, and below the 2.1 per cent growth expected by analysts in a Bloomberg poll. Imports in the month dropped by 5.6 per cent, leaving a trade surplus of US$34.84 billion, according to China’s General Administration of Customs.

July’s expansion now seems like an anomaly, likely driven by front-loading as new tariffs of 15 per cent on about US$110 billion of Chinese goods that took effect on September 1. American buyers of Chinese goods subject to the new tariffs were likely to have filled their inventories as much as possible before the goods became more expensive to import.

Furthermore, the much-reported 3.8 per cent depreciation of the yuan in August failed to stop the decline in exports – despite Washington’s fears that it was being used to give China’s exporters an unfair advantage.

It is a far cry from the double-digit expansion that characterised the export machine that powered the Chinese economy for more than two decades.

China’s exports to the US in August dropped 16 per cent to US$37.3 billion, a stepper decline from the 6.5 decrease in July. Imports, meanwhile, dropped by 22.3 per cent to US$10.35 billion having decreased by 19.1 per cent in July. Overall, China now has a trade surplus of US$26.95 billion.

The weak export figures will put further pressure on China’s already slowing economy. The central bank on Friday  said it would cut the amount of cash banks must hold as reserves to the lowest level since 2007 in a bid to inject liquidity into the economy and stimulate demand…”

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CNN Is the GOP’s New Best Friend

STEPHEN KRUISER:

“…It is probably a given that most of us are well past the point of taking anything that goes on at CNN seriously. The network unwittingly redefines self-parody every day in the Trump era. Some are infuriated by the daily clown show, some of us are mildly entertained watching them being triggered by the president.

CNN may be trying to destroy President Trump and the Republican party along with him, but they have become such a rabidly ideological clown show that they may now be helping…

…The more I spent on Thursday reading about the climate crazy town hall, the more it became apparent why the DNC twice put the kibosh on the idea of a primary debate focused solely on climate change. There is a stark difference between the repetition of brief, rehearsed campaign talking points in controlled situations and giving the candidates extended time to let their fascist freak flags fly in a live setting.

If the Democrats are interested in winning back the disaffected voters in middle America that they lost in 2016, they’re probably not going to do it by having Kamala Harris propose a police state, Bernie Sanders advocate for more abortion, or Mayor Pete condemn burger eaters, all to showcase their concern for Mother Earth.

As if it wanted to give the Republicans an extra assist, CNN decided to fact-check the town hall. It wasn’t all pretty.

The climate loon special was enough of an in-kind contribution from CNN to Trump 2020, but the network isn’t done with its generosity…

If threatening to jail them for using the wrong kind of straw doesn’t win back the hearts and votes of Chuck and Marge in Ohio, a night with the candidates talking about letting four-year-old kids choose their genders from a menu of seventy-two flavors during an LGBTQ town hall should certainly do the trick.

Flyover country may very well be awash in rainbow flags by election day.

It’s been said by many that all the Democrats have to do is not act insane. Well, that’s out the window. Now, thanks to CNN, American voters are getting an extra glimpse or two of the insanity. The ratings may be low for these events, but the video for social media and the RNC to use to mock them will be hanging around….”

Original

Satire? You Decide

Kamala Harris: Of Course We Must Regulate How Much Meat Americans Are Eating

Hard to tell if this satire? This is a Democratic candidate for President of the United States. Is she a serious person?

Doug Santo