China’s lopsided economic activity

CHINA ADVISORY - Report 31 Jul 2020 by Andrew Collier

Very recent trade data from June and July shows a strong uptick in activity at Chinese ports. This is reflected in the bottoming-out of export data. But the specific data on exports by sector is not reflecting strong demand.

Domestically, sales data shows China’s heavy reliance on infrastructure construction, while the domestic consumption market is relatively weak, apart from inexpensive luxury goods people are buying while at home. This “lopsided” economic activity is negative for China for the remainder of the year unless there is improvement in the consumer sector post-pandemic.

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