Excited to see one of my charts being picked up by the FT. Thanks to Brad Setser for the collaboration and @soumayakeynes.bsky.social for featuring it!
A second dose of Trump on trade would differ from the first - on.ft.com/49nTU3P via @FT

Chinese EVs are still struggeling in Germany. 5.500 were newly registered in December for a market share of around 10% - a number that has not changed much over the last 12 months even though new brands entered the market this year

Chinas export prices continue to be very negative at around -9% YoY for the second consecutive month in Nov. While some manufacturing products saw less negative prints, the vehicle subsector turned negative for the first time. Global auto producers should take notice

Are rates too high in China?

While the policy rate has been lowered by 20bps since the start of the year, CPI has fallen by 260bps and possibly more.

Real rates have therefore increased significantly, all the while real estate is in crisis and consumption is low.

Xi's anti corruption drive has led to a 11.6% decrease in overweight among chinese public sector employees.
www.sciencedirect.com/science/arti...

Chinese export prices dropped by 9.7% in October with some of the biggest drops in chemicals, plastics, steel and manufactured consumer goods

Once again my timing is perfect. 2 months after spending 250 euros on visas to travel to China, they are dropping the visa requirement. 🙈