{"id":197437,"date":"2023-10-10T11:45:00","date_gmt":"2023-10-10T15:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=197437"},"modified":"2023-10-10T12:40:20","modified_gmt":"2023-10-10T16:40:20","slug":"bronze-week","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/bronze-week\/","title":{"rendered":"Bronze Week"},"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>China\u2019s Golden Week holiday brought in&nbsp;<a href=\"https:\/\/www.cnbc.com\/2023\/10\/09\/chinas-domestic-tourism-is-finally-back-to-pre-pandemic-levels.html\">less<\/a>&nbsp;money than expected, more proof that the economy\u2019s still far from roaring back.<\/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>China\u2019s Golden Week holiday was anticipated to showcase the country\u2019s long-awaited recovery, with revelers splashing enough cash to give the world\u2019s second-biggest economy a reason to celebrate. Just over 800 million domestic trips were made over the eight-day vacation that ended last Friday, bringing in $103 billion in domestic tourism revenue. Thing is, that\u2019s only a smidgen better than the pre-pandemic total in 2019, despite this year\u2019s celebrations lasting for one extra day. And it landed below official projections too, which had set sights on nearly 900 million trips and $107 billion in revenue. That\u2019s a sign China\u2019s economy as a whole is still far from fighting fit.<\/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>China\u2019s Achilles\u2019 heel.<\/em><\/p>\n\n\n\n<p>Golden Week is a crucial period for property developers, but Chinese home sales over the period were lower this year than last. That, at a time when the government\u2019s pouring support into the struggling sector: it\u2019s reduced the amount of money banks need to keep on hand, slashed interest rates, and eased the requirements for home purchases. And because the state of the property market heavily influences the population\u2019s spending habits, China will need to harden up the sector somehow. Otherwise, consumer spending will never get back to its pre-pandemic ways, depriving the economy of a critical growth engine.<br><br><strong><em>Zooming out:&nbsp;<\/em><\/strong><em>Come fly with us.<\/em><\/p>\n\n\n\n<p>China\u2019s domestic travel might\u2019ve trickled in below expectations, but it\u2019s holding up better than international travel to and from the country. And to rub salt in the wound, the rest of the world\u2019s proposing a toast. After four years of out-of-steam numbers, global airline capacity \u2013 that\u2019s the number of seats available multiplied by the distance flown \u2013 is set to land above 2019\u2019s levels this week, according to aviation analytics firm Cirium. That\u2019s a major milestone in the $1 trillion-plus travel sector\u2019s pandemic recovery.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted October 9, 2023 &#8211; <a href=\"https:\/\/go.finimize.com\/wp\/news\/bronze-week\/\">Bronze Week<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s Golden Week holiday brought in less money than expected, more proof that the economy\u2019s still far from roaring back.<\/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":"","jetpack_post_was_ever_published":false},"categories":[4,18,8,9,26,3],"tags":[196,216,1685],"contributors-categories":[13597],"class_list":{"0":"post-197437","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-asia","13":"tag-china","14":"tag-macro","15":"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 v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bronze Week | Traders&#039; 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