{"id":194667,"date":"2023-08-09T11:00:00","date_gmt":"2023-08-09T15:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=194667"},"modified":"2023-08-09T11:07:54","modified_gmt":"2023-08-09T15:07:54","slug":"demand-the-myth-the-legend","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/demand-the-myth-the-legend\/","title":{"rendered":"Demand, The Myth, The Legend"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-what-s-going-on\">What&#8217;s going on?<\/h2>\n\n\n\n<p>Demand&nbsp;<a href=\"https:\/\/www.bnnbloomberg.ca\/china-s-trade-plunges-more-than-forecast-in-blow-to-recovery-1.1956175\">dealt<\/a>&nbsp;another blow to China\u2019s prophesied recovery last month, with trade taking a further dip.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean\">What does this mean?<\/h2>\n\n\n\n<p>Exports have been China\u2019s economic backbone for years, but now it seems the country\u2019s suffering from a touch of sciatica. See, global demand is slowing, and exports from the \u201cworld\u2019s factory\u201d have now dwindled for three straight months. And July\u2019s figures were&nbsp;<em>particularly<\/em>&nbsp;grim, showing a 14.5% drop in exports (in dollar terms) compared to last year \u2013 the sharpest dip since the pandemic hit. Domestic demand is dealing with some aches too. Imports took a 12.4% hit, the steepest drop since January\u2019s Covid wave. Both those numbers were worse than forecast \u2013 suggesting that China\u2019s road to recovery will be an uphill one.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-i-care\">Why should I care?<\/h2>\n\n\n\n<p><strong><em>The bigger picture:&nbsp;<\/em><\/strong><em>Read the fine print.<\/em><\/p>\n\n\n\n<p>China\u2019s seemingly slack domestic demand is raising eyebrows, but a closer look suggests those import figures might not be so terrible after all. See, they\u2019re based on&nbsp;<em>value<\/em>, and with global commodity prices dropping, China is still buying in bulk \u2013 but at cheaper rates these days. Take oil, for example: in the first seven months of the year, the value of China\u2019s oil imports dipped by over 12% compared to the same period in 2022, but in terms of&nbsp;<em>volume<\/em>, the country actually brought in more. That\u2019s not to say China\u2019s in the clear, though: the government still needs to make good on its promised pro-growth tactics in order to meet its 5% growth target for 2023.<br><br><strong><em>Zooming out:&nbsp;<\/em><\/strong><em>Trading more than insults.<\/em><\/p>\n\n\n\n<p>US-China tensions have been a thorn in China\u2019s side, but there\u2019s a hint of a turnaround these days: the two powerhouses are dialing up the dialogue, with more signs of progress toward stabilizing relations in recent days. And while these latest moves primarily deal with diplomatic topics for now, more renewed connections just might pave the way for smoother economic ties too.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted August 8, 2023 &#8211; <a href=\"https:\/\/go.finimize.com\/wp\/news\/demand-the-myth-the-legend\/\">Demand, The Myth, The Legend<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Demand dealt another blow to China\u2019s prophesied recovery last month, with trade taking a further dip.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,18,8,9,26,3],"tags":[216,3598],"contributors-categories":[13597],"class_list":{"0":"post-194667","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-asia","7":"category-macro","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-china","13":"tag-market-outlook","14":"contributors-categories-finimize"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Demand, The Myth, The Legend | Traders&#039; Insight<\/title>\n<meta name=\"description\" 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