ECONOMICS

By Catherine Yang of Epoch Times

China Evergrande Group announced on Sept. 28 that its chairman and founder has been suspected of committing crimes, confirming reports that Hui Ka Yan was under police surveillance.

It stated that "relevant authorities" notified the company that Mr. Hui, also known as Xu Jiayin, is subject to “mandatory measures in accordance with the law due to suspicion of illegal crimes.”

Xu Jiayin, chairman of the board of Evergrande Group, speaks (more…)

Traditionally, the second revision to GDP data (which comes three months after the end of a given quarter) is a boring, subdued affair… except for once every five years when alongside the latest data revisions, the BEA (the B usually stands for Bureau but in this case it may as well stand for Biden's) also publishes a wholesale revision of all GDP going back some two decades. Today was one of those time, and boy was it a doozy.

As we warned one week ago in "Ignore The Hawkish (more…)

By Ye Xie, Bloomberg markets live reporter and strategist

The decline in China’s home construction has been remarkable, almost rivaling the US housing crisis of 2008.

It raises the question: Why are commodity prices so resilient if one of the biggest buyers is in malaise?

It turns out China’s demand for raw materials is more robust than the overall economy. In other words, there’s some decoupling between China’s housing activity and commodities.

US rates and crude (more…)