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Economic data; Retirement ages; A win for the PRC at Xianbin Jiao/Sabina Shoal?; US pastor released; US chip export controls
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Economic data; Retirement ages; A win for the PRC at Xianbin Jiao/Sabina Shoal?; US pastor released; US chip export controls

Bill Bishop
Sep 17, 2024
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Sinocism
Economic data; Retirement ages; A win for the PRC at Xianbin Jiao/Sabina Shoal?; US pastor released; US chip export controls
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Happy Mid-Autumn Festival! The PRC is on an official holiday Monday and Tuesday this week.

Summary of today’s Essential Eight:

1. More weak economic data - August economic data disappointed again, strengthening views that 5% GDP growth for the year looks unattainable absent a major new set of stimulus policies that can take effect in the 106 days left in 2024, or manipulation of the data. Deflation concerns continue to grow, and language in a statement by the PBoC on the August financial data is a clear sign that the PBoC is paying attention. The statement said they would “consider maintaining price stability and promoting moderate price increases as important considerations in monetary policy 把维护价格稳定、推动价格温和回升作为把握货币政策的重要考量”.

2. Retirement ages extended - After many years of talk of the need to raise the retirement age, but little action because it is so politically sensitive, the government moved very quickly after the Third Plenum to issue, through the NPC Standing Committee, the Deci…

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