US to drop charges against Huawei’s Meng Wanzhou, allowing her to return to China

[Viet]

China's situation is not too bad, CPI 0.8%.
How about Vietnam?

Everything between 1 and 3 pct is ok. Yours below 1 is very low. Vietnam is above 2

 

[K_Bin_W]

Now wait for amreekan spin masters with their sorry half a$$ tails. Lol...

 

[S10]

But China's PPI has been growing at around 9%.

View attachment 779915

Elevated commodity prices push China’s factory-gate inflation to 13-year high

China’s official producer price index (PPI) rose by 9.5 per cent in August from a year earlier, while consumer price index (CPI) rose by 0.8 per cent.

www.scmp.com

It means that businesses are unable to pass down the increase in cost to consumers, and thus they have to absorb the increase in cost. Factories are facing the pressure of rising global commodities and coal prices. That is why China have to release its state oil reserve, and is also part of a reason why some areas in China have to restrict electricity usage.

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www.zaobao.com.sg

Fuel cost and transportation cost are soaring.

I used to be able to ship a container worth of goods from China for $2500. Now it costs $12000 on a good day.

 

[MH.Yang]

But China's PPI has been growing at around 9%.

View attachment 779915

Elevated commodity prices push China’s factory-gate inflation to 13-year high

China’s official producer price index (PPI) rose by 9.5 per cent in August from a year earlier, while consumer price index (CPI) rose by 0.8 per cent.

www.scmp.com

It means that businesses are unable to pass down the increase in cost to consumers, and thus they have to absorb the increase in cost. Factories are facing the pressure of rising global commodities and coal prices. That is why China have to release its state oil reserve, and is also part of a reason why some areas in China have to restrict electricity usage.

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www.zaobao.com.sg

It is true that many factories are using reserves or resources under their control, but it is mainly because container prices have risen too much. Therefore, the domestic impact is not too great.
For example, most manufacturers believe that the price of cobalt powder fluctuates temporarily only because of the state's control over rare earths. The shipment of old customers is using inventory without price rise.

Everything between 1 and 3 pct is ok. Yours below 1 is very low. Vietnam is above 2

It seems that Vietnam is doing well.

 

[Daniel808]

Welcome home
Big WIN for Chinese people, Congrats !

https://twitter.com/x/status/1441592579498278913

After Taliban kick them, know Huawei kick them also in the 4ss. Poor US of A

 

[Zibago]

Whether it's oranges or sleep man, it's the same for China. We don't care.
So as long as USA give China a good price, China will do as it did in 2008.
If not, prepare for the economic crisis.

Global inflation is because the USA has issued an additional $3 trillion, and the USA must give sufficient compensation.

On policy matters there is not much difference between Orange man and hair sniffing man
Orange man just has a loose tongue

 

[Place Of Space]

Now we get a clear conclusion: you don't need to waste a second to talk with nations like Canada, Australia or England, just negotiate with their master America.

 

[chinasun]

Meng Wanzhou, chief financial officer of Huawei, on Saturday expressed gratitude to China, the Communist Party of China and the Chinese government for leading her home, after her release from detention in Canada.

"Without a strong motherland, I would not be free, as I am today," Meng said from the plane, which is expected to land in China soon.

Meng Wanzhou expresses gratitude to China in message on way home

Meng Wanzhou, chief financial officer of Huawei, on Saturday expressed gratitude to China, the Communist Party of China (CPC) and the Chinese government for leading her home.

news.cgtn.com

 

[Beast]

It seems that inflation in the USA is very serious. I estimate that the USA will raise interest rates in 2022.

US is begging China to buy it's debt.

Now wait for amreekan spin masters with their sorry half a$$ tails. Lol...

They will claim, they delay meng wangshou working for Huawei for 3 years and is a victory for them.

 

[hualushui]

It seems that inflation in the USA is very serious. I estimate that the USA will raise interest rates in 2022.

Impossible.
U.S. Treasury bonds have reached 28 trillion, interest rates increased by 1%, and U.S. government expenditures would increase by 280B .

 

[MH.Yang]

US is begging China to buy it's debt.

They will claim, they delay meng wangshou working for Huawei for 3 years and is a victory for them.

The most pressing problem in the USA is inflation. Long-term high inflation may even endanger the credit of the dollar. Only China can solve this problem by add currency issuance to stimulate production.

 

[Mista]

It is true that many factories are using reserves or resources under their control, but it is mainly because container prices have risen too much. Therefore, the domestic impact is not too great.
For example, most manufacturers believe that the price of cobalt powder fluctuates temporarily only because of the state's control over rare earths. The shipment of old customers is using inventory without price rise.

It's not just container prices. What I'm saying is, China is also facing the threat of rising inflation due to rising global commodity prices and her own policies (environmental regulations, soft import ban of coal from Australia, pandemic restrictions etc).

It's not reflected in CPI because,

1) Pork prices are falling from a very high base from last year, and

2) Producers are absorbing the increase in cost because they can't pass down the cost to consumers due to muted consumer spending. Which also means lower operating profit margins for producers this year. Small producers with already low margins are facing great pressure this year, especially with recent restrictions on electricity usage which will curb production (lower revenue) and further increase cost.

Food prices fell by 4.1 per cent from a year earlier in August, down from a fall of 3.7 per cent in July.
Non-food prices rose by 1.9 per cent in August, year on year, up from a reading of 2.1 per cent in July. The price of pork – a staple meat on Chinese plates – dropped by 44.9 per cent compared with a year earlier in August.

Elevated commodity prices push China’s factory-gate inflation to 13-year high

China’s official producer price index (PPI) rose by 9.5 per cent in August from a year earlier, while consumer price index (CPI) rose by 0.8 per cent.

www.scmp.com

The widening gap between factory gate inflation and consumer inflation is driving concern because it means manufacturers are suffering from high raw material prices – forcing some to
begin curbing production – while soft CPI growth means producer costs are not being passed onto consumers, whose spending is weak and still crimped by the pandemic.

The scenario is adding to signs of a slowdown, but Beijing has indicated it is unlikely to loosen monetary policies, such as reducing interest rates, analysts said.

To address rising factory-gate prices, Beijing will continue to ease supply constraints on raw materials, clear up some transport bottlenecks to increase supply, and provide targeted credit increases for businesses, said economists from Japanese bank Nomura in a note on Thursday.

“The divergence of PPI and CPI inflation points to a worsening profit margin for manufacturers and services providers, and may exert extra downward pressure on activity growth in coming months,” the economists Ting Lu, Jing Wang and Lisheng Wang said.

“The policy solution for Beijing is not by cooling demand, especially as the property sector has been significantly curbed and Covid-19 has kept consumption demand low.”

One way in which Beijing has tried to cool raw material prices is by raising the domestic supply of coal, including recent approval to reopen dozens of coal mines in Inner Mongolia and
Xinjiang, HSBC senior Greater China economist Jing Liu said.

Chinese authorities are unlikely to increase liquidity as they would prefer to avoid stagflation caused by a rapid rebound in CPI during softer economic conditions, Citic Securities analysts said.

Stagflation – rising prices due to monetary easing and loose money supply amid slowing economic growth – is a global concern.

“It is therefore crucial to address the [high] PPI and the PPI-CPI scissors gap, [while] the room for further easing of monetary policy is restricted,” Citic Securities said in a note.

That was echoed by the People’s Bank of China earlier this week, which reiterated it would stay away from monetary easing for the rest of the year.
“The PBOC has sufficient tools to smooth the periodic disturbances and can maintain liquidity reasonably sufficient,” Sun Guofeng, the head of the central bank’s monetary policy department, said at a press conference on Tuesday.

Sun acknowledged commodity price inflation, and therefore factory-gate price inflation, could deal big blows to small firms which were labour-intensive, had weak bargaining power and were sensitive to raw materials costs.

Gap between China’s factory and consumer prices stokes slowdown fears

The divergence between factory and consumer prices points to worsening profit margins for Chinese companies and more downward pressure on the economy, analysts say.

www.scmp.com

Beijing has stepped up efforts to source more coal from neighbouring Mongolia amid an ongoing supply shortage, raising more questions about how long a ban on Australian coal can last.
China is suffering from a spike in coal prices amid declining supplies, which has also prompted authorities to ban an influential local trading platform from updating coal prices and market news that could fuel speculation.
Rising coal prices are another worry for China, which is already dealing with high raw material costs that are hurting businesses.
In a virtual meeting with Mongolian deputy prime minister Amarsaikhan Sainbuyan on Tuesday, Chinese commerce minister Wang Wentao broached the topic of buying more mineral and agricultural products from Mongolia, a ministry statement said.

China’s monthly imports of coal fell by 7 per cent to 28.05 million tonnes in August, according to Chinese customs data released on Tuesday.
Australia’s exports of both thermal and coking coal make up a big percentage of China’s coal imports, and are required to supplement shortages in local production. China does not produce enough coal to meet its demand.

Huang Jianjiang, an analyst at commodity research portal Bestanalyst, said in a note two weeks ago that coal supply from other countries has been unable to make up the supply gap left by Australian coal.

He also said domestic production was likely to be weaker than China’s official forecast, since many mines that are not monitored by authorities had cut production, while overproduction had been banned.
Chinese policymakers have said they will not tolerate hoarding and speculation of coal, and will show “zero tolerance” for illegal trading activities.
The price of coking coal exceeded 4,000 yuan (US$620) per tonne in some parts of the coal trading hub Shanxi province last week – a surge of more than 45 per cent since the beginning of August, according to Kaiyuan Securities.

China wants more coal from Mongolia to fill gap left by Australia ban

China has requested more coal from Mongolia to help offset a protracted supply shortage that may have been made worse by Beijing’s ban on imports from Australia.

www.scmp.com

 

[Beast]

It's not just container prices. What I'm saying is, China is also facing the threat of rising inflation due to rising global commodity prices and her own policies (environmental regulations, soft import ban of coal from Australia, pandemic restrictions etc).

It's not reflected in CPI because,

1) Pork prices are falling from a very high base from last year, and

2) Producers are absorbing the increase in cost because they can't pass down the cost to consumers due to muted consumer spending. Which also means lower operating profit margins for producers this year. Small producers with already low margins are facing great pressure this year, especially with recent restrictions on electricity usage which will curb production (lower revenue) and further increase cost.

Elevated commodity prices push China’s factory-gate inflation to 13-year high

China’s official producer price index (PPI) rose by 9.5 per cent in August from a year earlier, while consumer price index (CPI) rose by 0.8 per cent.

www.scmp.com

Gap between China’s factory and consumer prices stokes slowdown fears

The divergence between factory and consumer prices points to worsening profit margins for Chinese companies and more downward pressure on the economy, analysts say.

www.scmp.com

China wants more coal from Mongolia to fill gap left by Australia ban

China has requested more coal from Mongolia to help offset a protracted supply shortage that may have been made worse by Beijing’s ban on imports from Australia.

www.scmp.com

Take SCMP with a pinch of salt. They are anti China media

 

[Mista]

Take SCMP with a pinch of salt. They are anti China media

The data they cited are straight from the NBS.

Anyway I find SCMP one of the more credible and objective media on China. Medias like Global Times and BBC have their own biases.

 

[ashley.1965]

Weak and extremely dumb move to plead ‘guilty’ to false charges

Not according to what is what is being reported by the UK's Guardian newspaper, see here:

"Under the deal, Meng’s prosecution will be deferred until December next year and will be dropped entirely if she complies with her obligations. One of those obligations was not to contradict a statement of facts she signed as her part of the deal, while maintaining her plea of not guilty, or suggest that she signed it involuntarily.

The US justice department will then drop its extradition proceedings against her and its attorney David Kessler recommended she be released on bail.

Meng’s lawyer William Taylor said: “She has not pleaded guilty and we fully expect the indictment will be dismissed with prejudice after fourteen months. Now, she will be free to return home to be with her family.”

in the Anglo-Saxon’s corrupt judicial system.

It needs to be realized that for all its technical sophistication, the Anglo-Saxon judicial system is not designed to deliver justice or ensure moral righteousness, but to ensure that the domination of the powerful against the weak is protected and perpetuated.

As an example of their laughable system of (in)justice, you only have to look at their ridiculous concept of the "plea bargain", where the innocent are forced to knowingly lie - and this is openly known to everyone from the judges down to the accused - in order to avoid jail time, just so that prosecutors can go home satisfied with a win.

Now this tactic will be used all the time by the Anglo-Saxons to target every successful Chinese company.

They have evolved lawfare as a weapon in their domination of the globe. But this is ultimately a tactic that is weak against a determined enemy. Lawfare can be defeated by lawfare waged by an alternative legal system.

This was never about Meng Wanzhou. This was always about going after Huawei. China’s most successful company. Meng is the chip they used.

True - the US is a known repeat offender in its quest to perpetuate its hegemony over the world's economy. They will target anyone who, in their perception, has grown too big for their boots. You might want to read the following account from a French executive who was at the receving end of American wrath, to get a taste of the depths of depravity that the US has been known to plumb to: