Topics

Posted 8/27/2023, 11:10:58 PM

US consumer bust shrinks world trade

US imports of consumer goods, particularly home electronics, experienced a significant decline in the second quarter of 2023, following the end of the Covid-induced work-from-home electronics boom, while US manufacturing also slowed, indicating challenges in stimulating demand; however, claims that this decline in imports is solely due to re-shoring are false, as imports from US allies such as Mexico, Vietnam, and India have increased in tandem with China's declining exports to the US.

asiatimes.com

Relevant topic timeline:

8/26/2023

Trump, Biden policies shifted trade from China at a cost, study shows

US trade has shifted away from China due to policies enacted by the Biden and Trump administrations, but US reliance on China-linked supply chains has not necessarily been reduced and consumers have faced higher costs, according to new research presented at a Federal Reserve economic symposium.

8/26/2023

India's Engineering Exports to Russia Skyrocket While US and China Face Setbacks; Diversification Urged

Engineering exports from India to Russia experienced a significant surge in July 2023, more than doubling expectations, while exports to the US and China faced setbacks, highlighting the need for Indian exporters to explore the untapped potential of African and Latin American markets.

8/31/2023

US PC maker Dell loses share in China amid economic headwinds, supply chain shift

US PC giant Dell Technologies experienced a significant decline in sales in China during Q2 of 2023, with shipments of desktops and notebooks plunging 52% amidst a weaker macro environment and the company's plan to reduce reliance on China-based supply chains.

9/5/2023

U.S. factory orders plunge in July after four straight gains

U.S. manufactured goods orders experienced a significant 2.1% decline in July, the first drop in four months, due in part to higher interest rates impacting business equipment spending.

9/6/2023

China’s Share of US Imports Falls to Lowest Since 2006

China's share of US goods imports has dropped to its lowest level since 2006, as American companies reorganize supply chains to reduce dependence on China and shift to countries like Mexico and Vietnam.

9/7/2023

China's exports drop by 8.8% in August as trade slump persists

China's imports and exports experienced a monthly decline in August, with exports falling by 8.8% and imports falling by 7.3%, indicating ongoing challenges despite some slight improvement.

9/7/2023

Kelly Evans: Why China is turning into a liability for American companies

China's economic challenges and failed rebound post-Covid are causing U.S. investors and businesses to view Chinese exposure as a liability, leading to underperformance in companies with high China exposure and potential bans on foreign devices, signaling a potential decline in China's economic growth.

9/8/2023

No Shortage of At-Home COVID Tests Despite Rising Demand, Manufacturers Say

Despite an increase in demand for at-home Covid-19 tests, manufacturers assure that the supply is sufficient and there is no need for Americans to worry about a shortage.

9/10/2023

China's Economic Slowdown Spreads Across Global Steel Market

The decline in Chinese imports into the U.S. is impacting steel prices and raising concerns about sourcing steel and other metals.

9/11/2023

Survey Shows Investors Brace for Decline in US Consumer Spending, Stocks at Risk

The US consumer is predicted to experience a decline in personal consumption in early 2024, which could lead to a potential recession and downside for stocks, as high borrowing costs and dwindling Covid-era savings impact household budgets.

9/12/2023

Manufacturing and Services Sentiment Plummets on Weak Demand and Costs

Big Japanese manufacturers and the services sector in Japan are experiencing a decline in confidence, with concerns of a slowdown in China's economy affecting global and domestic growth, according to a Reuters poll. The weak sentiment in the business sector raises doubts about the ability of exports to drive economic recovery amid weak domestic demand. Many companies cited high input costs and weak demand as contributing factors, along with geopolitical risks and tensions between the US and China.

Topics

Posted 8/27/2023, 11:10:58 PM

US consumer bust shrinks world trade

asiatimes.com

Relevant topic timeline:

8/26/2023

Trump, Biden policies shifted trade from China at a cost, study shows

8/26/2023

India's Engineering Exports to Russia Skyrocket While US and China Face Setbacks; Diversification Urged

8/31/2023

US PC maker Dell loses share in China amid economic headwinds, supply chain shift

9/5/2023

U.S. factory orders plunge in July after four straight gains

U.S. manufactured goods orders experienced a significant 2.1% decline in July, the first drop in four months, due in part to higher interest rates impacting business equipment spending.

9/6/2023

China’s Share of US Imports Falls to Lowest Since 2006

9/7/2023

China's exports drop by 8.8% in August as trade slump persists

China's imports and exports experienced a monthly decline in August, with exports falling by 8.8% and imports falling by 7.3%, indicating ongoing challenges despite some slight improvement.

9/7/2023

Kelly Evans: Why China is turning into a liability for American companies

9/8/2023

No Shortage of At-Home COVID Tests Despite Rising Demand, Manufacturers Say

Despite an increase in demand for at-home Covid-19 tests, manufacturers assure that the supply is sufficient and there is no need for Americans to worry about a shortage.

9/10/2023

China's Economic Slowdown Spreads Across Global Steel Market

The decline in Chinese imports into the U.S. is impacting steel prices and raising concerns about sourcing steel and other metals.

9/11/2023

Survey Shows Investors Brace for Decline in US Consumer Spending, Stocks at Risk

9/12/2023

Manufacturing and Services Sentiment Plummets on Weak Demand and Costs