The Chinese government hasn’t sat on its hands. And now the global economy is slowing, jeopardizing China’s exports. Some of the country’s largest real estate developers have filed for bankruptcy protection, unable to make interest payments on their billions in outstanding debt. Xi’s zero-tolerance Covid policy placed major cities under quarantine for months at a time when Covid cases were detected. That was before a number of headwinds hurt the once-unstoppable Chinese economy, casting doubt on Xi’s prospects. Just over a year ago, it was widely expected that President Xi Jinping would secure an unprecedented third term when the Chinese Communist Party meets this fall. … Electric vehicles may emit less CO2 than internal combustion engines, but manufacturing and disposing of lithium batteries is an awfully dirty business.Ĭhina: Real Estate Woes Continue. … We also take a look at which industries’ consensus earnings have been revised down by analysts so far this year. We’re also watching Covid cases and Chinese exports to the slowing US and European economies. We remain concerned about the heavy debt loads forcing Chinese real estate development companies to restructure. Check out the accompanying pdf and chart collection.Įxecutive Summary: China’s stock market has enjoyed a nice bounce this year as President Xi’s policies have grown more business friendly as the Chinese Communist Party meeting approaches.
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