freemexy's blog

China’s Recovery Continues But Wary Consumers Show Vulnerability

China’s economy continued to inch out of the coronavirus slump in May, though a reliance on industry amid sluggish consumer demand underlines the fragility of the recovery as further infections appear.To get more news about chinese industry and management practice, you can visit acem.sjtu.edu.cn official website.

Industrial output rose 4.4% from a year earlier, versus a median estimate of a 5.0% expansion. Retail sales fell 2.8%, compared to a projected 2.3% drop. Fixed-asset investment declined 6.3% in the first five months, versus a forecast 6% drop. The surveyed urban jobless rate fell to 5.9% from 6% the previous month.
A jump in cases in Beijing over the weekend has raised fears of a resurgence of the pandemic in China, threatening to blunt recent government efforts to revive the economy. Beijing has shuttered the city’s largest fruit and vegetable supply center and locked down nearby housing districts after nearly 100 people associated with the wholesale market tested positive for the coronavirus.

The Monday data showed the gradual recovery in China’s economy was still mainly driven by the supply side thanks to continued policy stimulus, while demand remains weak. Industrial production has rebounded from a contraction in February, while private consumption is still shrinking and investment hasn’t recovered.
“The recovery is on the track while mixed performance can be observed everywhere -- manufacturing still better than services, cars better than catering,” said Zhou Hao, an economist at Commerzbank AG in Singapore. “However, the virus concerns will cloud the economic outlook.”

While highlighting the moderate improvements in May and reiterating the pledge to strive to achieve the full-year economic and social development goals, the statistics bureau also acknowledged downside risks.

“The overseas epidemic situation and the world economic situation have become more severe and complicated, and the stable operation of the domestic economy still faces many risks and challenges,” the bureau said in a separate statement.

With the rest of the world in recession, exports dropping and China’s relations with the U.S. continuing to worsen, a rebound relies to a large extent on domestic consumption.

“It’s quite clear that production has recovered pretty nicely, but the consumption, as well as investment actually are lagging behind,” Shen Jianguang, chief economist at leading online retailer JD.com Inc., said on Bloomberg television after the data. “So it’s the lack of demand that’s the main problem of the Chinese economy right now.”

Output in the consumer goods sector shrank 0.6%, compared with the 0.7% increase last month, the statistics bureau said, while export orders were “insufficient.” The value of delivered exports shrank 1.4%, and dropped more than 10% in some important sectors.The People’s Bank of China supplied banks with 200 billion yuan ($28 billion) in fresh liquidity Monday while letting some previous loans expire, leaving the financial system needing further injections if a looming cash crunch is to be avoided. Economists say the chance for a reserve ratio cut in the near-term is increasing after the move.

Seton Hall University’s China MBA Program Alumni

Chinese students and alumni from the Stillman School of Business China MBA Program came together to donate personal protective equipment (PPE) to first responders, nursing homes and other health care facilities in Essex County. Through their collective efforts, the group raised a total of 489,384 Ren Min Bi (RMB) or approximately $69,122 to use towards essential items.To get more news about top mba colleges in China, you can visit acem.sjtu.edu.cn official website.

After the coronavirus started to spread in the United States, Jason Yin, professor and chair in the Department of Management, who oversees the China MBA Program, wanted to organize a donation drive among alumni and students in China. He collaborated with Dr. Longguang Shi, non-executive director of Viagold Capital, which provides international educational services, to find a China-based manufacturer that could produce protective equipment with any funds collected.

The drive received an overwhelming response from Stillman students and alumni in China. Many members of the community personally reached out to ask how they could contribute. One student wrote, "Coronavirus is the common enemy of all of humankind. It is not confined by borders. We have to unite and fight back the same way."

"All the MBA students and alumni felt the pain of their alma mater in the pandemic disaster and expressed their strong desire to help," said Yin. "They see this as a small token in return for the Seton Hall education they received."

Yin also said that Shi felt inspired to join the relief effort after connecting with so many Seton Hall students and faculty in China. He donated $14,000 on behalf of his firm.

Based on the considerable size of the donation, members of University Advancement, who helped coordinate the delivery on the New Jersey end, chose to distribute the supplies through the Essex County Sheriff's Office. The office serves as the local Federal Emergency Management Agency (FEMA) distribution center. The equipment will be accessible to frontline workers in over 20 municipalities throughout the County.

"Our public sector-private sector partnership with these generous and civic-minded institutions has resulted in our acquisition of vital equipment, which will be distributed to Essex County first responders who are now on the dangerous frontline in mitigating the potentially deadly impact of coronavirus on a daily basis," stated Armando Fontoura, Essex County Sheriff. "Seton Hall University and Viagold have proved their magnanimity, unselfishness and community spirit in helping us save the lives of our neighbors."

"We are pleased that our partners at Viagold and our alumni from China have chosen to help the Seton Hall community in such a meaningful way," added Sheila Wolfinger, University associate vice president for development. "Many of the frontline health care workers and first responders in Essex County are Seton Hall students, alumni, friends and parents, and this donation will directly impact their health and safety."

U.S. considers blacklisting China’s largest chipmaker

The Trump administration is considering imposing export restrictions on Semiconductor Manufacturing International Corporation, China’s largest manufacturer of semiconductors, according to a Defense Department spokesperson. To get more China breaking news, you can visit shine news official website.

The Department of Defense is in discussions over whether SMIC should be added to the Commerce Department’s entity list, which essentially restricts those companies from receiving specific goods made in the United States. The U.S. entity list now includes more than 300 China-based companies.

“DoD is currently working with the interagency in assessing available information to determine if SMIC’s actions warrant adding them to the Department of Commerce’s Entity List,” a Defense Department spokesperson said. “Such an action would ensure that all exports to SMIC would undergo a more comprehensive review.”

The potential move by the administration, which was first reported by Reuters, is part of a continued effort to put pressure on China’s technology firms and would mark a major escalation in the tech battle between Washington and Beijing. U.S. officials have long complained that Chinese tech firms are beholden to the People’s Republic of China and collect sensitive information on behalf of the People’s Liberation Army. The Chinese Communist Party has previously said that it does not engage in industrial espionage.

A report last month by SOS International, a Virginia-based defense contractor, claimed SMIC had ties to China’s defense sector, according to people who spoke to The Wall Street Journal. SOS also said Chinese military researchers have disclosed in research papers that they use SMIC technology to manufacture chips, The Wall Street Journal reported.

In a statement Saturday, SMIC said it was “in complete shock and perplexity to the news” and that it “provides services solely for civilian and commercial end-users and end-uses.”

“We have no relationship with the Chinese military,” SMIC wrote, adding “Any assumptions of the Company’s ties with the Chinese military are untrue statements and false accusations.”

“SMIC is open to sincere and transparent communication with the U.S. Government agencies in hope of resolving potential misunderstandings,” the firm wrote.

SMIC is viewed as a key player in China’s effort to boost its domestic semiconductor industry, an ambition that was accelerated by the U.S.-China trade war. Imposing export controls on SMIC would impact U.S. companies that sell chip-making technology to China manufacturers.

U.S. officials recently announced it will further tighten restrictions on China’s Huawei Technologies in order to crack down on the telecommunication company’s access to commercially available chips.

The restrictions prevent Huawei from obtaining semiconductors without a special license. SMIC is one of Huawei’s manufacturers.

As tensions grow worse between the U.S. and China, U.S. officials are pushing other governments around the world to place restrictions on Huawei, arguing that the company will give data to the Chinese government for spying. Huawei has denied that it spies for China.

More imported cases of COVID-19 in Shanghai trigger new circuit break concerns

Shanghai on Friday reported 16 new imported cases of COVID-19, triggering concerns of a new round of "circuit breakers" concerning inbound international flights. Although the city has now reported new imported cases of COVID-19 for 11 consecutive days, Shanghai health commission claimed that the city has the ability to handle the current imported cases and the public needn't panic. To get more shanghai coronavirus cases, you can visit shine news official website.

The 16 imported cases are from Russia, the Philippines, the UAE, Zambia and the Cote d'Ivoire. The confirmed cases were receiving treatment in designated hospitals and their 253 close contacts have since been put under quarantine, the Shanghai Health Commission said in its daily bulletin on Friday.

Shanghai faces a heavy task to prevent the virus as data from information provider VariFlight showed that from August 1 to 11 the inbound international passenger flights (excluding Hong Kong, Macao and Taiwan) at Shanghai Pudong International Airport accounted for 24.92 percent of all flights to China.

An official from the Shanghai health commission told the Global Times that, "Shanghai is capable of handling the current imported cases based on experience gathered previously, and the public doesn't need to panic, as Shanghai has mature closed-loop management requirements for all inbound passengers."

The official added that currently one focus is on the overseas nucleic acid test procedure and the other is on the implementation of the flight circuit breaker mechanism.Prevention and control of the imported cases of COVID-19 has become a challenge in China as the country has mostly controlled the epidemic domestically. The Civil Aviation Administration of China (CAAC) announced award and punishment measures to inbound flights for airlines based on the number of imported cases in a certain period.

If all passengers on one airline route test negative for three consecutive weeks, the airline will be permitted to add one more flight. If five passengers on a flight test positive, the responsible airline will have to halt operations for a week, and if 10 test positive it must suspend operations for four weeks.

The CAAC triggered three "circuit breakers" in one day on August 12 as passengers returned positive test results for COVID-19 on Etihad Airways flight EY862, China Eastern flight MU212 and Sri Lankan Airlines flight UL866. The flights will be suspended service for one week or two.

Following the resumption of overseas flights in June, more international carriers such as Air France, Air New Zealand and Delta Air Lines from European countries and the US are choosing Shanghai as their landing locations.

The Chinese mainland reported 30 new cases of the coronavirus on Thursday, of which 22 were imported, compared to 11 one day earlier, the country's health authority said on Friday. Of all 70 imported cases still hospitalized in Shanghai, 38 are from the UAE, 18 from the Philippines and two from Singapore.

The automobile sector is one among the many sectors, which has been severely hit due to the lockdown imposed because of the Covid-19 pandemic. Though, as soon as the lockdown was completely lifted in July, the car retailers recommenced operations with enhanced safety guidelines.To get more auto finance news, you can visit shine news official website.

Scores of people have lost their jobs due to the economic impact of the novel coronavirus. In general, people have gone into savings mode and are refraining themselves from the non-essential expenditure. However, according to the latest release from Experian (LON: EXPN), a global data analytics firm, there is a sigh of relief for the automobile sector as there is a huge rise in car finance applications for the month of July and August in comparison to previous months.

It seems that the battered sector is about to breathe a new lease of life. According to the data, there has been a considerable amount of surge in car finance applications. There is a section of the society whose income seems to be unaffected by the coronavirus crisis and who can afford to buy. Moreover, there are people who are uncomfortable using public transport as they want to avoid the risk of falling prey to the contagious virus.

The showrooms have reopened in June. Since then, car finance applications including both PCP (Personal Contract Purchase) and HP (Hire Purchase) agreements have risen considerably in contrast to the same period in 2019.

July witnessed a huge jump of 27.7 per cent in the number of car finance applications in comparison to the 2019’s figures. In addition, the first three weeks of August witnessed an increase of 18.6 per cent in car finance applications due to the release of pent up demand. Also, according to the UK’s largest credit check group, many people have searched for ways to finance a car purchase in the coming weeks on its online platform, which facilitates car finance deals.
The car manufacturing output for the UK had declined by more than 20 per cent in July, and close to 86,000 units were rolled off the production lines, as reported by the Society of Motor Manufacturers and Traders, which is the apex trade body.

Nearly all factories reopened with the ease in global lockdown measures, consequently, the month of July witnessed the rise in production levels as well. However, as per the Society of Motor Manufacturers and Traders (SMMT) data, it seems the shocks of the ongoing economic uncertainty coupled with the social distancing measures made its impact and the output remained low.

Production for the UK market witnessed a modest recovery in the month of July when compared to previous months of May and June, as a majority of the car showrooms of the country were able to open all over. Car exports declined, but the numbers were slightly less substantial -16.8 per cent to 72,262 units in July. The sector witnessed the demand for the latest cutting-edge models in the overseas market.

On the year to date scale, the coronavirus pandemic has severely dampened the UK market, demonstrating a loss of 307,707 cars (YoY), while the overall production turned lower by 39.7 per cent. In the year till July, overseas shipments suffered a sharp setback, declining by 38.5 per cent to 381,273 pieces.

Gold Losing Shine on Soaring USD

On Tuesday, gold prices witnessed the biggest loss for seven years while USD embraced its biggest gain since early June. Driven by this, the markets of stocks, forex, oil and precious metals showed mixed performance.
　　This Tuesday, gold sharply dropped over 6% to the low level of $1,901, compared to the high level of $2,035 the night before. The half-month low since July 27 is a record one for seven years and the largest one since Lehman's bankruptcy. Besides, spot palladium fell 6.5% coupled with a slump of 6.7% in spot silver on the same day.To get more news about WikiFX, you can visit wikifx official website.
　　The growing greenback and U.S. Treasury yields may mainly account for the fluctuations in gold prices. The yields of both 10-year and 30-year bonds have been climbing as markets placed a bet on the U.S. issuing a record national debt of $112 billion together with large amounts of corporate bonds within this week.
　　Furthermore, WTI crude oil generally eased back on the day, seeing its intraday rebound at a time but finally losing 1.39% just shy of $42.0.
　　Tuesdays USD stayed strong on the whole, with DXY nudged slightly higher of 0.04%. At the same time, the USD/JPY pair volatilized most with a buoyancy of 0.67%, compared to the least volatilized pair of AUD/USD which obtained 0.01%

　　All the above is provided by WikiFX, a platform world-renowned for foreign exchange information. For details, please download the WikiFX App:

Will Indian Economy Go Short?

　　According to the latest data of the Reserve Bank of India (RBI), the country's forex reserves have surged $11,938 million to a fresh all-time high of $534,568 million for the week ended July 31. Its forex reserves have seen sharp rise over the past few months as overseas investors pumped money into Indias stock markets.To get more news about WikiFX, you can visit wikifx official website.

However, the country‘s external debt shows an opposite scenario, dropping away from its forex reserves. As of March, its external debt has grown to $558.5 billion from the $474.4 billion five years ago. The ratio of external debt to forex reserves goes as high as 111.7%. By the end of 2019, India’s public debt has reached up to $1,170 billion, accounting for 250% of forex reserves.
Over the past decade, India‘s equity markets have been booming along with the strong momentum in economic growth. But the excessively heavy debt may put economic burden on enterprises and the government because India has a large population as a major developing country. The inverted trend mentioned above implies that India’s forex reserves seem to be very vulnerable.
　　Indias economy has been highly dependent on dollar liabilities for several years. Once the greenback disengages from India massively, the economy may suffer from near-term hit and surrender its wealth to the dollar capital at any time since global financial giants are going short. Investors should be alert to “black swan” events.
　　As a leading media in forex industry, WikiFX App has included profiles of more than 19,000 forex brokers around the world, while providing 7*24 latest market news, interpreting massive forex information, warning against investment risks, and protecting investors fund safety in forex trading.

At 14:00 today (GMT+8), the U.K. released its jobs data, which is worse than expected. In this condition, investors should pay heed to reversal signals on GBP/USD and GBP/JYP.To get more news about BCP GROUP, you can visit wikifx official website.
　　Based on the expectation that the government will support the payrolls of over 9 million workers, the U.K.s National Institute of Economic and Social Research estimated the subsidy amount, which indicates that the jobless numbers will jump above 3 million and the unemployment rate will surge to 10% by the end of the year.
　　However, the Monetary Policy Committee of the Bank of England projected “the unemployment rate to rise to around 7.5% by the end of the year”. Although the central bank assesses that “the existing stance of monetary policy remains appropriate”, the marked increase in unemployment rate may force the BoE to reassess its current approach and galvanize it into expanding the current £750 billion quantitative easing program.
　　A worse-than-expected employment data may hamper GBP/USD and GBP/JYP and lead to investors positioning for the provision of more monetary stimulus, discounting the performance of GBP against its major counterparts.

　　All the above is provided by WikiFX, a platform world-renowned for foreign exchange information. For details, please download the WikiFX App: (download link)

Professions Are A Key Element in WoW Classic

When comes to resources and money in WoW Classic, savvy players who understand and exploit Profession will have months of advantage. World of Warcraft classic Professions is a key element to fully enjoy the game. Compared with the regular World of Warcraft, the classic World of Warcraft has been greatly streamlined and has gradually become more forgiving to players who are not good at professionalism, while the classic World of Warcraft requires players to truly integrate into all its systems. To maximize your ability, otherwise you risk being forgotten. World of Warcraft Classic offers players many choices, and early choices are much more difficult than earlier versions. For those who want to save time, we have written a complete guide for Professions in WoW Classic, which will explain what they are, what options are the best, and more.
There are several professions of WoW Classic to choose from, but some of them are more important than others like wow gold classic. There are production Professions that allow players to make gear that can be equipped or traded for profit, and some professions also have powerful pickup-bound items that are exclusive to their creators. Production specialties are as follows: Alchemy, Blacksmithing, Cooking, Engineering, Leatherworking and Tailoring. Service occupations do not generate equipable items, but they enable players to create items that benefit themselves and other players, and these items are usually expensive. The two majors of service are Enchanting and First Aid.To get more news about buy wow classic items, you can visit lootwowgold official website.

Gathering Professions are professions in WoW Classic, and players may spend the most time in these occupations. These professions help supplement the production class, as they allow players to collect the necessary materials to craft items from them. Raw resources can also be sold to people who want to improve their production expertise, which also makes them work hard to make money. Gathering Professions are Fishing, Herbalism, Mining, and Skinning.

Players can only choose two main professions: Alchemy, Blacksmithing, Enchanting, Engineering, Herbalism, Leatherworking, Mining, Skinning and Tailoring. Other majors are considered middle school majors and can be studied without restrictions: cooking, fishing and first aid.

WoW Classic Paladin Guide

Paladins, the ideal melee fighter with secondary spell casts, is the go-to for WoW classic players looking to dominate in groups, due to its healing, blessing and other abilities. These Guardians of the Holy Light can withstand even the harshest blows, all while helping their teammates.To get more news about wow gold classic, you can visit lootwowgold official website.
If you’re looking to become a Paladin in WoW Classic, we’ve compiled a comprehensive guide featuring everything you should know about Paladins to get started! By the way, check out our WoW Classic cooking guide if you need.
So, why do WoW classic players choose Paladin? More importantly, why do some choose to stay away from Paladin? Let’s evaluate its pros and cons!
One of the biggest advantages of Paladins are that they can wield heavy Armor, which can allow them to take large amounts of damage and still stay standing. Furthermore, they have the ability to heal their allies, as well as resurrect them. They can cast auras and blessings which have benefits to not only them but also their fellow players and they can summon a Warhorse mount.

On the other hand, they are heavily dependent on using mana for their abilities, both offensively and defensively. They have minimal capabilities at range, which can make it quite hard to win in combat.The unique feature of Paladins is that they are exclusive to the Alliance faction. Therefore, the only races you can choose are Humans and Dwarves. If you’re looking to be a healer, then you should go towards the human route. However, if you’re more into PvP and Battlegrounds action, then go for the dwarves.
In regard to weapons to use with a Paladin, there’s a variety! Usually, people choose to stick to one-handed maces or two-handed maces, but we’ve also seen people using polearms, one-handed swords, two-handed swords, one-handed axes and two-handed axes. We’ve done the research, and we’ve produced an optimal weapon progression for Paladins. Feel free to mix it around and see what works best for you!

At level 3, you should opt for a Large Axe, which gives 4.3 DPS. You can find the Large Axe at the starting area vendors. At level 11, you should have the Edge of the People’s Militia, which gives 11.2 DPS, and is the quest reward for “The People’s Militia,” in Westfall. When you hit level 13, you should get a Trogg Slicer, which increases the DPS to 11.9. You can get this weapon as a quest reward from “Gathering Idols”. At level 15, you should get the Miner’s Revenge, which gives 13 DPS, and is also a quest reward, but from the “Oh Brother” quest. At level 18, you should use an Orc Crusher, which has 18.2 DPS, and is a reward for completeing the group quest of “Tharil’Zun”.
Stepping it up, at level 26, aim to have an Ancient War Sword, which has a respectable 21.7 DPS. You can acquire one by completing the “Defeat Nek’rosh” quest. At level 29, you should use the Corpsemaker, which has 28.9 DPS and can be acquired as a 40% drop off Overlord Ramtusk Razorfen Kraul. At level 31, consider using a Silver Spide, which has an increased DPS of 31.1, which is a reward from the quest “Venture Company Mining.” At level 37, opt for a Raveger, which has 37.3 DPS, and is a 25% drop off Herod, found in Scarlet Monastery. At level 34, upgrade to the Bonebiter, a 38.8 DPS weapon which is a reward from “In the Name of the Light”.

Moving onto higher level equipment, at level 50, you should use the Limb Cleaver, which has a massive 42.7 DPS, a reward from the quest “Hurley Blackbreath,” which can be started at the Blackrock Depts.