Aren’t we are the one who is running the refineries in ME? Can’t be cheaper to run them here compared to Asia.
The refineries in ME are run by expat labor (lots of foreign workers from India and Bangladesh)
Just to keep the topic on its course………
“The picture is a bit nuanced. For example, trade overall is up 6.4% from the same point last year, pushing Kuehne + Nagel’s World Trade Indicator to 143.7, the highest level since records began”
That headline is terrible journalism. Trade didn’t slowdown. The rate of growth is lower, but it’s still growing. Good job posting a fake headline.
No wonder the market is like a see saw. That mumbling jumbling.
President Donald Trump assertions about the U.S.-China agreement to pause tariff escalations that emerged over the weekend do not appear to match the White House’s official description of the agreement.
Following the conclusion of the G-20 summit in Argentina , the U.S. leader described the agreement brokered with Beijing as “one of the largest deals ever made.” He said Chinese President Xi Jinping government “will be opening up” and “getting rid of tariffs.”
The White House, however, did not back up Trump’s claims about China ending tariffs, but referred instead to a temporary agreement not to raise them further . And it gave little indication of China “opening up.”
What a POS! Just wow!
Wait! What a Socialist president! I am, me, me and only me!
“” “Today I am making good on my promise to defend our Farmers & Ranchers from unjustified trade retaliation by foreign nations. I have authorized Secretary Perdue to implement the 2nd round of Market Facilitation Payments,” he said in a Twitter post.
The U.S. Department of Agriculture in July had authorized up to $12 billion in aid for farmers and ranchers hit by the fallout from Trump’s escalating trade war with China and the agency outlined the first round of payments.
An announcement on the second tranche had been expected in early December.
New export orders contracted for a seventh straight month on faltering external demand, with the sub-index falling to 46.6 from the previous month’s reading of 47.0.
“There are many short-term orders from overseas but few long-term orders received by Chinese factories as caution remains amid the trade uncertainties,” Nie Wen, economist at Hwabao Trust in Shanghai, said before the PMI release.
Italy opposition protests outside parliament against government budget
“The medium to long-term export prospect is not optimistic particularly.”
Brazil elected a “far-right nationalist” as president. He says he’s big in deregulation. I wonder how he’ll balance tariff regulations vs nationalist policies. Brazil has some of the most restrictive tariffs in the world, and it’s a big market.
US manufacturing is still growing although a little slower. That makes sense, because most of the holiday sales are manufactured in Sep-Nov. Despite the negative tone of the article, the number is pretty good if you look at the multi-year trend. So China manufacturing is contracting and US is expanding.
It seems Romney developed some balls over the weekend.
Instead, on this forum we have a lackey for this administration spinning all around.
The first survey of December’s economic data came out on Wednesday with diminished results: United States manufacturer growth hit new lows on multiple fronts last month.
Results from financial data firm IHS Markit showed the U.S. manufacturing PMI (Purchasing Managers Index) was 53.8 in December, falling nearly two points from 55.3 in November. This represents a 15-month low for the index, while job creation also slowed to an 18-month low.
“Output and order books grew at the slowest rates for over a year and optimism about the outlook slumped to its gloomiest for over two years,” said Chris Williamson, Markit’s chief business economist. “Some of the weakness is due to capacity constraints, with producers again reporting widespread difficulties in finding suitable staff and sourcing sufficient quantities of inputs.”
“However, the survey also revealed signs of slower demand growth from customers, as well as rising concerns over the impact of tariffs. Just over two thirds of manufacturers reporting higher costs attributed the rise in prices to tariffs,” Williamson added.
Manufacturers’ confidence in business also slipped to the lowest level in nearly two years, Markit said, with optimism at its lowest level since October 2016. The firm reported manufacturer optimism was hit by concern about "the longevity of new business growth."
Which the stock market loves. Not!
Another data point that China’s economy isn’t doing well.
We’re at the bottom of the economic cycle.
Let your words come true
You better hope it’s true. Otherwise some people will have to commit suicide.
In my opinion we are just at the beginning of a wider decline. So much volatility with a net downward slope points to a coming decline.
It may temporarily pick up if the truce is signed on tariff wars but that euphoria won’t last long.