Weak economic data, more stimulus talk; Li Qiang to Europe amid calls to ban Huawei and ZTE and restrict PRC car imports; Bad news for TikTok?; Missing cremation data
Weak economic data, more stimulus talk; Li Qiang to Europe amid calls to ban Huawei and ZTE and restrict PRC car imports; Bad news for TikTok?; Missing cremation data
Summary of the Essential Eight:
More weak economic data, rate cut, another report of incoming stimulus -Today the Wall Street Journal also reported that a stimulus package may be coming, one that looks straight out of the old playbook, from special bonds to fund infrastructure to relaxing housing purchase restrictions in lower tier cities. Hope springs eternal, but if policymakers do roll out a stimulus like this they must be getting really desperate about the state of the economy.
Premier Li to Germany and France - Premier Li is making his first overseas trip as Premier. I think he will be less than pleased with the call from the European Commission to ban Huawei and ZTE, and from France to limit imports of PRC cars, as discussed in the next two items.
European Commission says ban ZTE and Huawei - The commission specifically names Huawei and ZTE: “The Commission considers that decisions adopted by Member States to restrict or exclude Huawei and ZTE from 5G networks are justified and co…