From Natixis today, “China’s muted inflationary pressure at home contrasts with booming export prices feeding global inflation”:
An obvious reason to explain China’s low inflation rate is the weaker demand which is taking the hit from the Omicron outbreak. As China keeps on with the dynamic zero-Covid strategy, the plummeting mobility is weighing on household’s demand for goods and services and containing investment. Consequently, China’s core consumer price (CPI) inflation was lowered from 1.2% YoY in January to 0.9% YoY in April (Chart 1) although headline CPI inflation did go up from 0.9% YoY in February to 2.1% in April, mainly due to a sharp increase in food prices, which shot up from negative territory (-3.9%) in February to 1.9% in April. All in all, as long as domestic demand remains sluggish, it is hard for core CPI to rise too much for the remaining of the year.
So, when you look at this picture of relative core CPI performance (from this post):
Figure 1: Core CPI, n.s.a., in logs 2021M03=0. US series is BLS, s.a.. China series, s.a., from Ha et al. French series excludes tobacco and alcohol. Australia series interpolated from quarterly data by author. NBER defined recession dates peak-to-trough shaded gray. Source: BLS, OECD via FRED, Ha, Kose, Ohnsorge/World Bank, NBER, and author’s calculations.
Remember, all you need to do is push your economy into negative (or near negative) growth. For growth prospects, see this graphical depiction of the outlook for Chinese GDP (from this post).
Figure 2: Chinese real GDP, 2019Q1=1 (black), Goldman Sachs previous forecast (blue), Goldman Sachs May 18 forecast (red), IMF April World Economic Outlook forecast (sky blue square), Deutsche Bank May 17 forecast (light green), Bloomberg Economics May 20 (pink triangle). Source: NBS, IMF, Goldman Sachs, Deutsche Bank, Bloomberg Economics, and author’s calculations.
“All in all, while China is experiencing lower core inflation due to the weakening domestic demand, producers are raising prices of final goods, as shown by downstream prices, especially when these goods are exported.”
Huh. When I suggested Japan’s low inflation rate may also be due to weak aggregate demand – CoRev went all ballastic at this suggestion. I have no clue why CoRev has lately been going off on angry incoherent tirades but maybe he should seek professional help.
I want to make clear I am not doubting the numbers the bank is presenting, but does anyone know where the bank is getting the breakdown on the percentage or ratio the province or city is contributing to GDP?? For example Guangdong’s 12%??? This is asked out of pure curiosity.
https://www.bk.mufg.jp/report/econew/monthly_asia20220502e.pdf
Bierka, thanks, for the free room and board in your head.
Yep – you take great pride at being a worthless troll.
We have the tools for “destroying” inflation its just that the collateral damage is severe. The panic about “runaway inflation” is based on the fear of the rich that the value of their “stash of cash” would be destroyed. Even a prolonged upper single digit inflation rate (say for 3-4 years) would do more good than bad for society as a whole – when compared to the damage of prematurely trying to beat it down to 2-3%. Ihe noice from the right wing is really not about what is best for the country, it is about what would serve them best politically. Their flip-flops in fiscal policies in tandem with who is in the white house says it all. They are perfectly aware of how it works and depraved enough to consider it a political tool damn the consequences.
“Even a prolonged upper single digit inflation rate (say for 3-4 years) would do more good than bad for society as a whole – when compared to the damage of prematurely trying to beat it down to 2-3%.”
Tell that to Joe Biden, who has a 30% approval rating on economic issues. It’s all inflation. We ignore inflation at our peril.
“China’s muted inflationary pressure at home contrasts with booming export prices feeding global inflation”
[ Chinese regulators have long been working on sector by sector price intervention to limit inflation. This has increasingly come to mean accumulating surpluses in important commodities or industrial materials.
Through 2021, large surpluses in agricultural materials and crops were accumulated. Land for grain planting, greenhouse building and fish-farming was readied. Pork production was enhanced. Also, plans were made to significantly increase plantings and technological controls of plantings for 2022.
As for energy, there was emphasis on adding to energy production through the year and significantly added emphasis when Chinese coal prices briefly but sharply rose. The Chinese electricity grid has been enhanced making long distance transmission from energy surplus area possible. Electricity transmission between major cities has been enhanced to even and protect flows.
The point is that protections against factors of potential inflation were considered necessary and have been added to, and these protections should be effective and should be so recognized. ]
Yes, there are reasons for China’s low inflation besides insinuating that China is using Omicron lockdowns to intentionally decrease growth.
As I said elsewhere, China’s “extreme” response to COVID is likely a response to concerns about the increasing frequency of biological disease—first swine flu, then bird flu, now COVID. Preparation is the best defence, and China is showing how well prepared it is whether the disease’s origin be natural or biolab.
Still pushing Putin’s lies re Ukraine? Dude – reporters have visited the lab in question and there are NO WMDs there. So your disinformation campaign is dead.
pgl has no idea of what the US spooks and military are cooking up. And if they were preparing something repugnant, they would lie about it, just as Clapper lied to Wyden about warrantless wiretapping.
pgl naturally believes that US spooks are a bunch of saints who never nuked anyone or dropped napalm or killed millions in their pointless and futile wars.
Given US behaviour, China is well advised to be prepared, even at the tremendous, temporary cost to economic growth.
“pgl has no idea of what the US spooks and military are cooking up.”
I do know this – you are a pathetic little lying POS. Putin is a war criminal and you know it. Yet you shill for this war criminal anyway. The blood of the brave Ukrainians who gave their lives for their nation is on your hands. So come back with your little childish and dishonest retorts as you have no soul.
All right, pgl, tell me…what are the spooks cooking up? Links, please.
I seriously doubt even Biden knows what’ his spooks and DARPA folks are cooking up…but pgl the know it all assures us that he does!!!
“ JEFFREY SACHS PRESENTS EVIDENCE OF POSSIBLE LAB ORIGIN OF COVID-19”
An article in the Proceedings of the National Academy of Sciences calls for an independent investigation of information held by U.S.-based institutions that could shed light on the origins of Covid.”
https://theintercept.com/2022/05/19/covid-lab-leak-evidence-jeffrey-sachs/
‘JohnH
May 25, 2022 at 6:45 pm
All right, pgl, tell me…what are the spooks cooking up? Links, please.’
Gee Johnny boy – I’m not on the Kremlin’s email list so I do not have the access to their spin that you have.
JohnH has decided that economist Jeffrey Sachs is not an expert on the origins of COVID-19 but I guess this lying troll once again failed to read past the headline of his own link. If this troll had bothered to read the entire discussion he might have noticed:
‘As with past discussion of a possible lab origin of SARS-CoV-2, this latest theory has already been met with considerable pushback. Even some scientists who are open to the idea that a lab accident could have sparked the pandemic remain unconvinced by the particular trail of evidence laid out by Sachs and Harrison.’
Sorry, pgl. But you need make a proper link to the quote you cited…for all I know, you just made it up, like you do with many of your snide, misleading comments.
Sachs was the co-author: “ Writing in the Proceedings of the National Academy of Sciences, Sachs and his co-author, Neil Harrison, a Columbia University professor of molecular pharmacology and therapeutics, said that federal agencies and universities possess evidence that has not been adequately reviewed, including virus databases, biological samples, viral sequences, email communications, and laboratory notebooks. Sachs and Harrison also highlighted a tantalizing scientific detail that may be an indication that SARS-CoV-2, the coronavirus that causes Covid-19, originated in a laboratory: a sequence of eight amino acids on a critical part of the virus’s spike protein that is identical to an amino acid sequence found in cells that line human airways.”
https://theintercept.com/2022/05/19/covid-lab-leak-evidence-jeffrey-sachs/
The gene sequence in question could have been inserted naturally, or it could have been done in a bio weapons lab. Like missiles, which can be used defensively or offensively, gene research can be dual purpose.
But naturally, pgl, like the average Good America, needs to believe that the spooks and military only engage in beneficial research, quickly forgetting the Tuskegee experiments or the CIA’s experiments with mind control.
Instead of being such a naïf, pgl should readily support the National Academy of Sciences and their calls for an independent investigation of information about the origins of COVID. Obviously the Chinese are taking no chances, which has the unfortunate side effect of slowing growth.
Damn, Blinken sounds like Trump.
https://www.state.gov/the-administrations-approach-to-the-peoples-republic-of-china/
Bruce, is it that you didn’t expect others to actually read the speech, or did you just not actually read the speech yourself?
https://news.cgtn.com/news/2022-05-24/Chinese-mainland-records-156-new-confirmed-COVID-19-cases-1ahW19LAu6A/index.html
May 24, 2022
Chinese mainland records 156 new confirmed COVID-19 cases
The Chinese mainland recorded 156 confirmed COVID-19 cases on Monday, with 141 linked to local transmissions and 15 from overseas, data from the National Health Commission showed on Tuesday.
A total of 532 asymptomatic cases were also recorded on Monday, and 30,323 asymptomatic patients remain under medical observation.
Cumulative number of confirmed cases on the Chinese mainland is 223,488, with the total death toll from COVID-19 at 5,224.
Chinese mainland new locally transmitted cases
https://news.cgtn.com/news/2022-05-24/Chinese-mainland-records-156-new-confirmed-COVID-19-cases-1ahW19LAu6A/img/977536635b854ef388e101876147ee6e/977536635b854ef388e101876147ee6e.jpeg
Chinese mainland new imported cases
https://news.cgtn.com/news/2022-05-24/Chinese-mainland-records-156-new-confirmed-COVID-19-cases-1ahW19LAu6A/img/d1408c0c8b5041e89a993d1137957d40/d1408c0c8b5041e89a993d1137957d40.jpeg
Chinese mainland new asymptomatic cases
https://news.cgtn.com/news/2022-05-24/Chinese-mainland-records-156-new-confirmed-COVID-19-cases-1ahW19LAu6A/img/5141b8d7a50143ef8bb41f762de3ee36/5141b8d7a50143ef8bb41f762de3ee36.jpeg
https://www.worldometers.info/coronavirus/
May 22, 2022
Coronavirus
United States
Cases ( 85,004,438)
Deaths ( 1,028,924)
Deaths per million ( 3,075)
China
Cases ( 223,145)
Deaths ( 5,222)
Deaths per million ( 4)
https://english.news.cn/20220524/5167c287200443c79931fe2f7a99fdf8/c.html
May 24, 2022
China to take steps to stabilize economic activity, bring economy back to normal track
BEIJING — China will adopt a package of measures to stabilize economic performance, in an effort to get the economy back to normal track and keep major economic indicators within an appropriate range, according to a decision made at the recent State Council’s Executive Meeting chaired by Premier Li Keqiang.
Noting the increasing downward pressure on the economy and the serious difficulties facing many market entities, the meeting stressed the need to stay confident, respond resolutely, fully apply the new development philosophy and coordinate COVID response with economic and social development with high efficiency.
The decisions of the Central Economic Work Conference and the policies set out in the Government Work Report must be implemented faster and more forcefully. In keeping with the overall thinking and policy orientation, a host of targeted, strong and effective measures for range-based regulation will be taken to keep economic fundamentals stable.
“Power generation, freight volume and bank loans have all declined since April. Without a certain level of GDP growth, stable employment cannot be realized. One good thing is that we refrained from excessive money supply and mass stimulus in the past few years, and we still have policy tools in reserve,” Li said.
The meeting decided to implement 33 measures in six aspects which mainly include fiscal and related policies to keep the operation of market entities and employment stable. The policy of refunding outstanding and newly added value added tax (VAT) credits will be extended to more industries, which is expected to increase tax refunds by 140-plus billion yuan and bring the total amount of tax relief this year to 2.64 trillion yuan.
The policy of deferred premium payments of old-age, unemployment and workplace safety insurance programs by micro, small and medium-sized enterprises (MSMEs), self-employed households and companies in the five hard-hit sectors (namely catering, retail, tourism, civil aviation, and highway, waterway and railway transportation) will be prolonged till the end of this year, and extended to other industries facing serious difficulties. As a result, the deferred payment this year will reach 320 billion yuan.
The subsidy for retaining employees under unemployment insurance will be extended to all hard-hit enterprises participating in the scheme. Greater support such as social insurance contributions subsidies will be provided to MSMEs that hire college graduates. Localities should scale up support to micro and small businesses and self-employed households in terms of utility bills and rentals, among others….
Oddly, inflation in the US was quite low over the past decade despite a fairly energetic recession and recovery and pretty good economic growth. Current inflation couldn’t have anything to do with shutting down the economy for the better part of a year, disrupting whole industries, supplies, and production, and then pouring all kinds of government “stimulus” after goods that were in short supply, could it?
So, yes, it does look like “negative growth” (aka economic decline) is the bitter cure for our present situation since the Biden Administration has done everything it can to ensure that our “non-core” inflation will stay hot.
https://www.washingtonpost.com/opinions/2022/02/24/biden-climate-gas-prices-russia-sanctions/
It wasn’t that hard to predict, apparently.
Then the next shoe falls. Local news is telling the story that will appear in three or four months on the national news.
https://www.wjhl.com/news/consumer/reduced-food-harvest-possible-this-year-due-to-high-farming-costs/
Yes the Trump 2020 recession lowered inflation. Now you may want to blame other people for his incompetent handling of COVID19 and i know of at least one other culprit – Bruce Hall.
Now Biden has indeed gotten back to full employment and for this you chastise him simply because you have to pay more for gasoline? Truly dumb on your part.
Now I see you predicted high gasoline prices but funny thing – none of your old comments did such a thing.
US inflation was low from 2008 all the way to 2020. Growth was robust from about 2015 right to 2020, then collapsed, then rebounded quickly (due to the weird nature of the Covid recession and lots of government spending). No president “got” us back to full employment. Congress (with both parties’ support) and the unique nature of the Covid recession did that. The US economy has been healthy arguably since 2015.
A Marc A. Thiessen oped? The speech writer for Donald Rumsfeld is not exactly any sane person should bother to read.
Bruce,
Why do you continue to play Putin bot here on the food issue? Oh, food problems are due to high input costs, presumably all Biden;s fault? The food crisis is overwhelmingly due to Putin’s blockade of Ukrainian food exports, somewhere between 20 and 28 million tons of grain in Ukraine sitting in warehouses unable to be shipped out thanks to your war criminal guy Putin. And you have nothing to say about this? You are totally disgusting.
Bruce works for Kelly Anne Conway who works for Trump who works for Putin. BTW Kelly Anne is mad at her hubby. After all George’s telling the truth apparently violates his wedding vows to her.
ltr,
Xi-splain to me again how mentioning human rghts is a racial slur against China:
https://www.bbc.co.uk/news/extra/85qihtvw6e/the-faces-from-chinas-uyghur-detention-camps
Great find. Outstanding. Hats off to you Sir.
ltr? Hello? Nothing?
‘Cause I notice you are flooding comments with irrelevant stuff, the way you often do when China is in the news for doing something terrible. And you are flooding comments now, but you haven’t made note of the 3000 photos of uyghur prisoners published today by the BBC.
ltr? Nothibg?
The expressions on their faces are enough to follow you throughout a long time, I knew a girl who worked as a waitress in Dalian from Tibet. And I had both students and friends from Tibet and Xinjiang. I knew them on a personal level. I also knew a girl from Inner Mongolia for a long time who I felt like a sister and married a guy in Oregon, where I assume she is now. It’s hard to watch these great people suffering. They are stronger than I am.
Yes and the common variety human rights abuses also continue under Emperor Xi
https://www.bbc.com/news/av/world-asia-china-61467135
Apparently a woman should not complain about sexual assault.
She’ll reply somewhere else, without mentioning you directly. Weird, passive-aggressive stuff.
https://www.msn.com/en-us/news/world/henry-kissinger-blasted-for-telling-ukraine-to-give-territory-to-russia/ar-AAXFiPV?ocid=uxbndlbing
Former U.S. Secretary of State Henry Kissinger was blasted on social media for saying Ukraine should cede territory to Russia in order to reach a peace deal. Kissinger offered the suggestion on how the conflict should end while speaking at the World Economic Forum in Davos, Switzerland, on Monday. The former secretary of state encouraged Ukraine and Russia to begin negotiations in the next few months, saying the ideal goal should be a “return to the status quo,” encouraging leaders to consider the implications of a long-term relationship with Russia. “Pursuing the war beyond that point would not be about the freedom of Ukraine, but a new war against Russia itself,” Kissinger said in the remarks that were met with condemnation on social media. It remains unknown exactly what the end of the conflict will look like, though Ukraine has laid out several conditions—including that the country would only consider the war over when it regains control over all territories currently occupied by Russian troops. Mykhailo Podolyak, an adviser to Ukrainian President Volodymyr Zelensky, slammed Kissinger’s remarks, writing that he would as easily “allow to take Poland or Lithuania away.”
So Kissinger has become the surrender monkey. But what should we expect from someone who told us on the eve of the 1972 elections that “Peace is at hand”? A blatant lie designed to get Nixon reelected. Sorry but I do not give a damn what Kissinger has to say and no one else should pay attention to this clown.
k got the nobel peace prize in 1973.
iirc some time in spring of 73 i saw live coverage [by way of those new satellites] of american pow’s flying out of hanoi on american military transports.
and what part of donbas returning to kiev control is worth holding up a large part of world grain export?
realpolik!
so many lives to lose….
A.,
Why do you insist on spelling thecapital of Ukraine the way Russians do it and not Ukrainians? You are really far gone in your Putin worship.
pgl,
There will be a settlement at some point, and I hate to say it but HK may be optimistic with his call for a return to the status quo ante. That means the Ukrainians retaking Kherson and Mariuopol, which I hope they do. But there has been no motion recently toward Kherson, which the Russians are apparently imposing the ruble on and more general Russian control And the Russians are currently moving forward, if slowly, in Donbas. That needs to be stopped and then reversed to get to Kissinger’s states point of settlement. I want them to, and I see reports they are gearing up. But as of right now, Kissinger’s settlementn looks a lot better than what may end up being the case.
“ Kissinger himself, in proposing an intervention in Cyprus, summed up his philosophy best: “The illegal we do immediately; the unconstitutional takes a little longer.”
Appalling though this all may be, Kissinger’s most enduring legacy is subtler in its malignance. The foreign policy of Henry Kissinger is defined, above all, by an utter contempt for human life and absolute pursuit of “American interests.” For every one of Kissinger’s crimes that goes unpunished and for every bit of praise he receives, the belief that the United States can do whatever it wants with the rest of the world is further concretized. Behind every thoughtless, disastrous intervention since then―behind the mujahideen and the Contras, behind the Iraq war and the El Mozote Massacre―is the work of Henry Kissinger.”
https://www.thecrimson.com/article/2017/1/31/galant-welcoming-war-crimes/
If Kissinger thinks Ukraine policy is misguided, maybe he’s being a realist, not a rabid neocon like pgl.
I may have utter disdain for Kissinger but for anyone to suggest Ukraine started up to Putin’s war crimes has to be the most disgusting idea ever. Way to go JohnH – you are now on the same level as Hitler and Stalin.
Yep, pgl is a neocon…messianic, not realist.
I am not a neocon and you know it. Your little lying retorts are both stupid and disgusting. Of course your cheering on Putin’s war crimes is beyond repugnant.
pgl parrots the neocons, then claims that he’s not one. If it quacks like a duck…
pgl parrots the neocons, then claims that he’s not one. If it quacks like a duck…
JohnH/JihnH,
Could you please read Harold James’s “A Glossary of Globalization,” particularly the chapter on “Neoliberalism”?
I’m not asking you to reply or comment, just to be less ignorant.
https://www.msn.com/en-us/money/markets/burning-gas-to-produce-electricity-is-stupid-the-ceo-of-power-giant-enel-says/ar-AAXEDf5?ocid=msedgdhp&pc=U531&cvid=5a7fafbe7de8494b90093b124466a991
The CEO of Italian power firm Enel has cast doubt on the continued benefit of using gas to produce electricity, telling CNBC it is “stupid” and that cheaper and better alternatives are now available.
Read the whole thing as this is an interesting discussion from the CEO of an electricity company. Of course the wisdom noted by this CEO is going to set poor little CoRev off on another one of his unhinged comments.
who owns enel?
how chis ceo got invited to davos?
impacts the word ‘better’.
of course italy has more sun than germany and france!
Who owns Enel? Dude – it is publicly traded company. Go do your own research with respect to who its major shareholders. Since you are so dumb as to ask this question – here is their 2021 Annual Report. Check it out troll.
https://www.enel.com/investors/financials
I see Bierka has found even another biased source to quote. Didn’t he recently chide another commenter re: their selection of a biased source?
Enel S.p.A, who are they? “Enel (Italy’s national entity for electricity) was founded in 1962 with the fusion of more than a thousand energy producers. With a solid bedrock of hydroelectric power as our starting point,… But above all, we pioneered a number of renewable energy plants. We installed one of the largest hydroelectric plants of its kind, the first grid-connected solar installation, the first photovoltaic power station, and Italy’s first wind farm….We invested in Enel Green Power in 2008, long before renewables were a viable reality”
No bias there, nope!
CoRev,
Oh, you are barking again, or is that Bierking again? Well, bow wow to you.
Barkley, another inciteful, substantial, and meaningful comment A question because it is hard to tell if its just a joke. Either way it was funny.
inciteful, substantial, and meaningful comment is all you have done of late. Now you are truly a joke.
CoRev,
You are the one making an idiot of yourself with silly name calling. Notice that nobody else is joining you on this, not even Bruce Hall, who has since stopped doing his bit of stupid name calling. This one is really stupid. Heck, at least the name he used really was applied to an Australopitthecus. I am not aware that “Bierka” was actually a name of one of Pavlov’s dogs, which you previously claimed was what you were trying to suggest.
No, I am not being “inciteful.” You are, along with just ridiculously stupid. Bow wow wow. You are the one coming off like a dog, but a vicious snarly one.
I think you meant (with irony) “insightful.”
“Inciteful” describes people you vote for, not people you are talking to here at Econbrowser.
Andrew G,no! I meant inciteful. I find few here insightful. More importantly, the comment to which I responded was exemplary of inciteful.
What makes them biased? Being Italian? Oh – they have publicly traded shares and file Annual Reports. By that measure – a lot of companies are biased. Come on CoRev – you are only the 2nd dumbest troll here as Bruce Hall still has you beat. But keep on trying. We know you can succeed at being the STUPIDEST TROLL ALIVE!
Bierka, may have just passed Barkley with the funniest comment. It not just for me to judge.
I was wrong, Bierka doubled down on being the funniest commenter with: “A total failure to address my legitimate questions.”. I can’t tell which comment is now the funniest. I’ll let you readers judge.
Oh I forgot the link for my quotes above: Enel S.p.A, who are they? “Enel (Italy’s national entity for electricity) was founded in 1962 with the fusion of more than a thousand energy producers. With a solid bedrock of hydroelectric power as our starting point,… But above all, we pioneered a number of renewable energy plants. We installed one of the largest hydroelectric plants of its kind, the first grid-connected solar installation, the first photovoltaic power station, and Italy’s first wind farm….We invested in Enel Green Power in 2008, long before renewables were a viable reality”
It was the company’s own web site: https://www.enel.com/ That defines their own bias. Relying on renewables for its profits is unbiased? Only in liberal-land.
A total failure to address my legitimate questions. CoRev – you have embarrassed your poor family enough already. They are pleading that you stop.
Trevor Reed and his family are angry at the likes of Marjorie Taylor Greene for delaying and then voting a Congressional plea to have the Putin government release US citizens who are political prisoners of the Kremlin. Watch this video as it is spot on:
https://www.youtube.com/watch?v=fLcIq_BBb8g
Leave it to Orban to abuse Putin’s invasion of Ukraine to tighten his dictatorial grip over Hungary:
https://www.msn.com/en-us/news/world/hungary-announces-state-of-danger-over-war-in-ukraine/ar-AAXFung?ocid=msedgdhp&pc=U531&cvid=b8153e889586436d987335dca2d4e2ef
Of course Princeton Steve likes Orban for some reason even as he lectures us on how China must become more democratic. Yes Princeton Steve bloviates a lot on things he does not even remotely understand.
Do I have this right – the price of goods it sells on world markets is rising relative to the price of goods consumed at home. Does that mean that there is a terms of trade effect in play? Any thoughts on the overall macroeconomic impact from such a terms of trade improvement?
I was reading something very recently about Australia being “relative winners” on the terms of trade thing. I think macroduck had also noted this in his comment about Australia being big net exporters of commodities. I’m just starting my drink now, so someone please correct me if I’m wrong
Australia indeed is a powerhouse in terms of commodity exports. And the ATO is leading the way on preventing transfer pricing abuse.
http://www.news.cn/english/2021-12/09/c_1310361223.htm
December 9, 2021
Xinjiang’s tourism revenue up 17 pct in Jan-Oct
URUMQI — China’s Xinjiang Uygur Autonomous Region received 170 million tourists from January to October this year, with its tourism revenue hitting 129.4 billion yuan (about 20.4 billion U.S. dollars) during the period.
The revenue from tourism increased 16.8 percent year on year in the period, according to the regional culture and tourism department.
During this period, a total of 127 government-funded cultural and tourism infrastructure projects were carried out, with a total investment of approximately 9.7 billion yuan.
“Abundant high-quality tourism products and the vigorous development of new businesses, such as homestays, have effectively promoted tourism consumption,” said Liu Quan, deputy head of the regional culture and tourism department….
https://english.news.cn/20220518/2467e74f57fd4fd7af90fcdc6aac132c/c.html
May 18, 2022
Multiethnic family reflects Xinjiang’s diversity, unity
*China’s Xinjiang has been a multiethnic region since ancient times. Members of 56 ethnic groups now live there.
*In the city of Tacheng, there is an extended family of over 50 members, who are from various ethnic groups. Their stories reflect Xinjiang’s diversity and ethnic unity.
By Sun Zhennan, Gao Han and Zhao Ge
URUMQI — In the city of Tacheng, northwest China’s Xinjiang Uygur Autonomous Region, a restaurant called Rose Garden stands out for the great variety of food it serves.
Diners of different ethnic groups can always find one or two dishes to their liking on the menu, whether it be the Uygur pilaf, the Tartar pastries, or dumplings favored by many Han people.
For the owner, Halida Yilahun, the secret to Rose Garden’s assortment of dishes lies in the help she gets from her extended family of over 50 members, who are from various ethnic groups.
“I’ve learned to make many delicacies on the menu from my relatives during family meals, when they all cooked some specialty dishes of their ethnic groups to share with us,” said Halida Yilahun, a member of the Uygur ethnic group.
Her husband is of the Uzbek ethnic group, her two brothers-in-law are Tartar and Kazakh, and she has a younger brother from the Han ethnic group.
Xinjiang has been a multiethnic region since ancient times. Members of 56 ethnic groups now live in Xinjiang, according to the regional ethnic affairs commission.
In the community where Halida Yilahun’s family lives, members of 14 ethnic groups live in harmony, and households as ethnically diverse as hers are common in Tacheng.
After marrying a young man of the Russian ethnic group two years ago, Halida Yilahun’s elder daughter Muhramu gave birth to a boy last year.
Dumplings have long been favored by diners at Rose Garden. Halida Yilahun learned to make them while looking after her younger brother Du Ronglu.
In 1986, Du came to Xinjiang from east China’s Shandong Province to find work. Young and thin, he could only do odd jobs on construction sites, earning a meager wage. Concerned, Halida Yilahun’s father offered Du the job of herding for the family, and treated Du as his own son.
“When I was first brought to meet the family, Dad offered me a bowl of hot milk tea. It was my happiest moment since I came to Xinjiang. Drinking the milk tea, I became a part of the family,” Du recalled….
Your taste for whitewashing atrocities is really sick, ltr.
THIS WEEK IN CRAZYTOWN
I am neither endorsing nor slamming the following article. It is presented for perusal, by anyone who cares to peruse it:
https://www.yahoo.com/finance/news/davos-soros-says-ukraine-may-173000457.html
Yikes. Someone’s apocalyptic!
https://english.news.cn/20220524/ec9e9c5448b346ac8700d2ff45322e5f/c.html
May 24, 2022
Access to potable water enhances quality of life in rural Xinjiang
URUMQI — Drinking gourd, buckets and giant clay jars — Nurbiya Aikmu still remembers the various water vessels she had seen at her grandfather’s old home as a child.
“In those days, every household had such vessels to hold water, but they are all antique now,” said Nurbiya Aikmu, who was born in the 1990s in Payzawat County, northwest China’s Xinjiang Uygur Autonomous Region.
This county was once plagued by a dearth of water resources.
“My grandpa told me that the water he drank was salty and bitter, and the process of transporting water was excruciating, as people had to carry water using poles or donkeys. Water in the lower areas was contaminated and appeared brown or green, while during the dry seasons, the water was full of litter, tadpoles and insects and it must be filtered with gauze before drinking,” she recalled.
To ensure the safety of drinking water in the rural areas, Xinjiang has launched a series of major water conservancy projects and has upgraded its water conservancy infrastructure over the past decade….
@ Professor Chinn
Menzie, do you think in these days of war inside Ukraine, that it’s especially difficult to watch human behavior??~~~ or do you think Ukrainians’, Poalnd’s, and other nations’ response is more uplifting than the negatives?? Signed, Moses Herzog, “auditing” your class in the far back of the room.
Rudy Giuliani attends a parade in NYC and goes totally bananas:
https://www.theguardian.com/us-news/2022/may/23/rudy-giuliani-video-rant-israel-parade
This is really amusing as it sort of suggests to me that CoRev and Rudy are one in the same!
https://twitter.com/GitaGopinath/status/1528857544797859841?cxt=HHwWgsDR3cb1y7cqAAAA
Well, The “strong” Republican “white guy “saved” us today, didn’t he, thank “GOD!!!” the white guy with a GUN saved us today!!! Thank GAAAAAAAWWWWWD!!!!!!!!
https://www.youtube.com/watch?v=vQ-EBGCfA-U
MAGA and QAnon!!! THanks for crapping on Amerkuuuuuhhhh!!!
Well “Hispanic white”. I’m sure Bruce Hall etc will point that one out. Cuz it’s really not of the same ilk type crime is it?? (that’s rhetorical for the white trash not “getting it” now) And we all know shooting children takes a “real man” doesn’t it?? Cuz you don’t wanna be a “snowflake” about feeling sad about children dying, I mean, really, do you?? Tomorrow’s “excuse” from the guys that got their rural high school degree: “Well you know in China the weirdos do this with knives” Oh, well….. that explains it….. “why bother with knives when we can give them M-16s” and save the time aye???
Where was “the good guy with the gun”??? “Taking the night off” in Houston I guess?? Family vacation for “good guys with guns” in Houston. I mean, obviously
If we could only have that speech on the floor of the Senate.
You’ve surprised me, not “taking sides” (recently anyway) between me and Barkley. Anyway….. Don’t you wish more people would be angry and “outraged” by it??? Have we become so “dulled” and “passive” and “callused” that the death of children doesn’t bother us anymore?? Well the “good guy with a gun” will save those Houston kids from death……when???
I watched Gov. Abbott this afternoon for as long as I could stand his incredibly dishonest display of ‘caring’. The only thing he cares about is the support of the NRA.
Moses,
Just because I said nothing so far on this does not mean I disagree with you? I also agree with pgl and you on this.
You are so sick to the point of being completely demented.
As far as I am concerned we should do away with the Second Amendment and do what Australia did with guns, buy most of them back. But I view it as a hopeless waste of time pushing this too much.
Moses,
This issue just depresses the h out of me. A good friend of my youngest daughter was injured badly in the Virginia Tech shooting 15 years ago. There was a lot of talk then about restricting access to guns for nut cases. Nothing was done. Oh, then under our last governor some mild restrictions were put in place, not nearly enough, but then we had a nut case killing security guards on a campus near me, Bridgewater College, protecting students from this nut case with a gun. Our new hypocrite governor came and bloviated the usual GOP pro gun crap, which I criticized on Facebook, only to have a bunch of gun nuts come down on me big time. This gov got elected defending the “freedom of speech” of people to go into school board meetings and threaten the lives of school board members, which happened in the same bloody location right by where I live.
No, all of this is disgusting, but all we shall get is lots of hypocrisy out of the gun nuts.
It hurts. I feel these type things are usually “for show”, but I feel this, added in with his feelings for his father, are REAL
The pathetic thing is that they actually had police officers there who engaged the gunman BEFORE he entered the school. That is why he quickly entered and barricaded himself in a classroom with 2 teachers and a full class. Officers needed a tactical team to arrive before they could make it through the barricades and by then he had shoot everybody in that room.
The idiocy of thinking that good guys with guns is the answer to gun violence is as astounding as it is common. Those spreading such obvious fallacies are more concerned about themselves than about children. They are scared to death of anything that could restrict their ability to get any kind of gun they want for their own personal defense – not realizing that most people being attacked have no chance of getting the upper hand because the attacker always is ahead of you (so you are shot before you can aim your own weapon). Furthermore, 9 out of 10 times a self-defense weapon in a home is fired it is not against an invader but against those who were supposed to be protected (suicide, accidents, domestic violence, etc.).
I am tired of arguing with morons who have signed into the cult of “gun rights” and are just pissing on the rights of little children to come home alive from school.
The punk came ready for war. Having a gun against someone like him is not nearly enough to stop someone like him.
It really is about the type of guns. Assault weapons bans make a lot of sense. Otherwise, they are only good for domestic terrorism and nothing else.
It feels to me like the recession has already started. Initial unemployment claims should tell the story. And as I have noted, I expect an unconventional recession.
Please do the world a big favor – never make a comment on macroeconomics ever again. It will save the rest of us the time and the effort pointing out you have no effing clue what you are babbling about.
Georgia should not let Herschel Walker be their Senator – especially because Donald Trump supports this clown:
https://www.msn.com/en-us/news/politics/herschel-walker-s-celebrity-gop-candidacy-is-as-cynical-as-it-gets/ar-AAXHaYv?ocid=msedgdhp&pc=U531&cvid=2fe143b7e55f4c879517e26b265545b0
https://fortune.com/2022/05/25/caroline-dennett-shell-email-resignation-climate-change/
A safety consultant resigned from Shell in a blaze of glory when she told executives they needed to admit that the oil giant is “failing on a planetary scale”.
U.K.-based Caroline Dennett took to social media following her resignation to outline why she had ended her 11-year relationship with the Anglo-Dutch oil firm. In her resignation email — which was sent to 1,400 employees and contractors at Shell — she said despite warnings from the U.N. and the International Energy Agency that there was no safe level of new oil and gas extraction, Shell was planning to explore and extract “much more.” “I can no longer work for a company that ignores all the alarms and dismisses the risks of climate change and ecological collapse,” Dennett said. “I want Shell execs and management to look in the mirror and ask themselves if they really believe their vision for more oil and gas extraction secures a safe future for humanity.”
Bravo to Caroline Dennett who has the courage to be honest. She is the exact opposite of Big Oil troll Bruce Hall who routinely lies about this issue. How much you want to be that Bruce is begging Shell to hire him to take Dennett’s former job. Now we get Bruce is totally incompetent but he will gladly sing Shell’s tune.
Texas’s population is less than 30 million whereas California’s population is almost 40 million. When guns sales in California finally passed gun sales in Texas, the governor of Texas was upset even though per capita gun sales were still much higher in Texas than in California. The governor of Texas asked for the citizens of Texas to go buy more guns, which include that military assault weapon used by that punk yesterday to murder 2 teaches and 19 young students. Governor – their blood is on your hands.
Bimbo Marjorie Taylor Greene says we do not need gun control:
https://www.msn.com/en-us/news/us/marjorie-taylor-greene-takes-pro-gun-stance-following-texas-school-shooting-we-don-t-need-more-gun-control-we-need-to-return-to-god/ar-AAXGBKh?ocid=msedgntp&cvid=144ca214e67a40a2a197b1c8994c693a
After all her God takes care of everything- right?
Paul Gosar Trumps Marjorie Taylor Greene:
https://www.msn.com/en-us/news/politics/rep-paul-gosar-spreads-lie-about-texas-shooter-in-hateful-since-deleted-tweet/ar-AAXGEmf?ocid=msedgdhp&pc=U531&cvid=bd2044b53ba641c7b9a8a76faf078433
Rep. Paul Gosar (R-Arizona) deleted a disturbing and offensive tweet Tuesday that falsely claimed the gunman who killed more than 20 people at a Texas school was a “transsexual leftist illegal alien.”
There is no evidence behind any of these toxic characterization of the murderer.
Some interesting news on US housing market:
https://www.statista.com/chart/17787/new-single-family-houses-sold-in-the-us/
Interestingly, prices have not yet fallen.
This is a well known pattern, seen previously. People resist selling their homes for lower prices than they expect to get and so refuse to sell. Thus the initial response to a slowing housing market is a decline in sales before a decline prices.
Did Bruce Hall even remotely understand that graph in his link. From Sept. 2021 to early 2022, housing sales spiked. The latest retreat leaves sales back to where they were in August 2021. So we have a volatile series but it is too early to tell if this represents a collapse in the housing market.
Of course this will sadden poor little Brucie as he really does want a terrible economy just so he can wear his MAGA hat outside without the entire town mocking this troll.
https://fred.stlouisfed.org/series/PRFIC1
Real Private Residential Fixed Investment
Its latest reported figure was 2022QI and residential investment remained strong. Of course 2022QII figures have yet to be released.
But now I am being mean to troll Bruce Hall. We need to find information on how the economy is going to hell just so this Trumpian troll can enjoy his otherwise sad and worthless life!
Some of this is also just shorter-term swings in supply (I mean housing inventory). See Bill McBride:
Comments on March Case-Shiller and FHFA House Price Increases; New Record Monthly Increase
https://www.calculatedriskblog.com/2022/05/comments-on-march-case-shiller-and-fhfa.html
The next McBride article, however, shows framing lumber prices down 50%.
Did the Fed overdo it before they even got much past talking about doing it?
https://www.cnn.com/2022/05/27/business/stores-clothing-television-furniture-discounts/index.html
Is the deflation monster roaring in the distance?
Remember most of the excesses in demand for products came from a combination of hot stimulus money in the pockets of the paycheck-to-paycheck crowd and the lack of entertainment/services to use it on.
For these specific products (home entertainment), it may also just be overhang from the frenzy + the supply constraints. Sort of like the Q1 GDP numbers (which were about a big swing in inventory).
Oh look! An ad!
AndrewG: Good point; I’ve deleted.