Trade data; Waiting for stimulus; EU-China; Gaokao; SOE cadre's career-ending stroll
Summary of the Essential Eight:
More signals no big property stimulus coming - And no signs any broader stimulus coming either. Xi so far seems comfortable with grinding through the problems on the path to higher quality growth.
May trade data - Another mixed set of data, with exports disappointing. And soaring trade with Russia.
Poll says most Europeans want to remain neutral in a US-China conflict -The European Council on Foreign Relations recently conducted a large poll on views on China affairs. Among the China-related conclusions: “Europeans want to remain neutral in a potential US-China conflict and are reluctant to de-risk from China – even if they recognise the dangers of its economic presence in Europe. However, if China decided to deliver weapons to Russia, that would be a red line for much of the European public.”. Maybe Macron is right, and perhaps the US should not be overly confident that the EU is with it when it comes to China?
EU Huawei ban? - Huawei is still not banne…