ECONOMICS

By Mish Shedlock

China is going all in on exports to revive growth led by EVs. Trump vows to strike back with 60% tariffs.

Accelerated Global Trade War

The Wall Street Journal comments China Is Starting a New Trade War.

Two Guiding Principles

China’s first fear is well founded in reality. US sanctions on chips and AI technology have forced China to go it alone. It’s a US mistake to think it can cut off China from leading technology.

Should the US succeed, (more…)

Ahead of Friday's payrolls report, there were rising expectations that the economic rebound observed in the past two weeks – and following the dismal July jobs report – would persists. Alas, those hopes were promptly crushed moments ago when shortly after a dismal US Manufacturing PMI report, which printed in its final iteration at 47.9, below the prelim print of 48.0 and below the 48.1 estimate, the more closely watched Manufacturing ISM report came in even uglier, printing at the 5th (more…)

Authored by Mark Gilman via The Epoch Times (emphasis ours),

It’s been a rocky year for the restaurant industry, with rising costs due to inflation and changing consumer habits driving a slew of chains with household names into Chapter 11 bankruptcy. According to those who follow the industry, there is no definable silver lining ahead for an industry in deep trouble.

A sign is posted in front of a Red Lobster restaurant in Fremont, Calif., on May 14, 2024. Justin Sullivan/Getty (more…)