A novel analysis of gold’s skyrocketing surge
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David P Goldman in asian news
Trump: Biden NATO plans provoked the Ukraine war
President Biden provoked Russia’s attack on Ukraine by proposing to bring the former Soviet republic into NATO, former President Trump Donald Trump told the popular “All In” podcast June 21, a bombshell statement unreported by mainstream US news media.
China export boom to Global South continues
China reported higher-than-expected export growth in May of 11.2% in RMB terms and 7.6% in terms of US dollars year-on-year, indicating that the country is like to meet the government’s 5% growth target for 2024.
2 words explain China export ‘surge’: Global South
Contrary to a meme that’s popular among Western policy analysts, there is no Chinese “export surge.” China’s exports to developed markets have stagnated for years, but have doubled to the Global South.
US auto industry scam: overpriced parts, repairs
The US auto industry overcharges consumers for motor vehicle parts, while pricing vehicles outside the range of most US households. That keeps profit margins high on new vehicles. Sales of new passenger cars and trucks are stagnant, but the industry compensates by selling expensive parts to consumers who keep their vehicles on the road longer. The cost of a new car has risen by about 40% since 1991, while the cost of repair parts has nearly doubled, as the above chart shows. The cost of auto repair, meanwhile, has tripled.
Biden slaps tariffs on nonexistent Chinese EV imports
The Biden administration reportedly will slap a 100% tariff on Chinese electric vehicle (EV) imports, except that no Chinese cars presently are offered for sale in the United States.
China reaps geopolitical dividend in Middle East exports
China’s exports in April surged towards the Global South while shrinking in developed markets, following a pattern of geographic divergence that began four years ago.
Debunking China’s overcapacity myth
During the past four years, China shifted the preponderance of its exports to the Global South away from developed markets, and at the same time built production facilities across the Global South that re-export to developed markets—circumventing America’s 25% tariff on most Chinese goods and other developed-market trade barriers.
When supply creates demand: Yellen’s errors of omission
US Treasury Secretary Janet Yellen on April 8 warned China that rising investment in new industries will lead to “significant risk to workers and businesses in the United States and the rest of the world,” adding that China “is now simply too large for the rest of the world to absorb this overcapacity.” Secretary Yellen said: