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Bloomberg News/Early Indicators Show China's Slowdown Worsened Again in October 본문
Bloomberg News/Early Indicators Show China's Slowdown Worsened Again in October
초심독자 2018. 10. 29. 14:36Early Indicators Show China's Slowdown Worsened Again in October
Bloomberg News
October 29, 2018
Economy in China does not seem to be recovered in near future even though the government promised support. Economic indicators shows weakness in overall, especially in manufacturing sector (Factory Inflation tracker) and stock market (Major Onshore Stocks). From the early of this year, China and the U.S. are still fighting for their trade conditions. The U.S. keeps blaming their trade deficit to China and the U.S. president try to set a trade barrier. Chinese president Xi, Jinping announced government easing last week, but it seems the effect is limited.
*Today, Korea Financial Services Commission(FSC) announced funding arrangement of 500 billion KRW to faciliate the stock market. Last January, Kospi surged up to 2500 but in October, it plunged to almost 2000. Foreign investors all at once sold Korea equities in every sector. There is no wonder that stock index touched the bottom. Government worries about stagflation as the economic situation looks gloomy. Manufacturing does not support Korea economy any longer as shipbuiding and other heavy-machinary industries are losing the thrones to emerging markets. Car manufacturing prospects is not bright too as labor cost in Korea keeps increasing sharply.
In my opinion, easing fund is not a final answer to protect our economy from the world-wide trade conflicts. The government must start to think differently whether they are blocking firms and inventors from making new industry era. At the beginning of this year, the FSC and ministry of Law informed they would regulate block chain enterprises in each way without proper agreement. I think this case shows lack of converstaion between the government bodies and how they think about future technology. I strongly recommend to them to encourage, or allow try-and-error to all generation so that we could make new cash cow for upcoming century.