June 10 Trade Risk Alert
Release time:
2020-06-10 16:39
Source:
The National Association for the Real Economy predicts that U.S. GDP will fall by 5.9 percent this year.On June 8, the New York Times reported that the National Association for the Real Economy (NABE) conducted an "Economic Outlook Questionnaire" on 48 economic experts. The results showed that experts predicted that the U.S. gross domestic product (GDP) would grow by 5.9 this year., Showing the worst growth rate decline in more than 70 years after World War II. Experts predict that this year's quarterly growth rate (the annual rate benchmark) fell to a low of -33.5 percent in the second quarter, and will increase by 9.1 percent in the third and 6.8 percent in the fourth quarter. The report predicts that the U.S. economy will grow by 3.6 percent next year, but if the second round of volatility in the new coronary pneumonia epidemic comes, the recovery could slow further. (Ministry of Commerce website)
Global investment in the energy industry will be significantly reduced by $400 billion.Recently, the International Energy Agency said that the energy industry was affected by the outbreak.Investmentwill hit a record low. investment in its energyAnnual ReportIt is estimated that with the global energyDemandDown, energyEnterpriseSpending has been slashed, and energy investment will be about 1/5 lower than in 2019, about 400 billion.USD. (China Petrochemical News Network)
The global airline industry is expected to lose $84.3 billion billion in 2020.On June 10, the International Air Transport Association released a report on financial expectations for the global air transport industry, showing that in 2020, global airlines will lose $84.3 billion, net profit margins are down 20.1 percent, and revenue is expected to be only $419 billion, down 50 percent from 2019 revenue ($838 billion). In 2021, revenue may increase to $598 billion and loss will decrease to $15.8 billion. (surging news)
German corporate investment has been significantly delayed and curtailed.The new crown crisis has led to increasingly conservative investment by German companies, with 50 per cent of respondents having postponed investment projects (46 per cent in April) and 28 per cent having even canceled plans altogether (22 per cent in April), according to a survey conducted by the Ifo Institute for Economic Research in May. Among them, 64% of industrial enterprises postponed investment projects (56% in April) and 32% completely canceled (25% in April);45% of service enterprises postponed their plans and 28% canceled them completely. 44% of commercial enterprises postponed their plans and 20% canceled them completely. 30% of construction enterprises postponed their plans and 15% canceled. The German economy is facing its worst post-war recession this year. (Ministry of Commerce website)
France's public deficit will climb to 11.4 percent of GDP in 2020.French Minister of Public Finance and Action Gerald Dalmanen just announced today that France's public deficit will climb to 11.4 per cent of (GDP) in 2020 due to reduced economic activity and huge spending to support the economy. (Ministry of Commerce website)
World food prices have fallen.Ukraine's Independent News Agency reported on June 4 that the Food and Agriculture Organization of the United Nations announced that due to sufficient food supplies and weakened demand caused by the epidemic, world food prices have continued to decline for four consecutive months and are now at their lowest point in 17 months. (Ministry of Commerce website)
Pakistan's economy contracted more than expected.The World Economic Outlook, released on June 8, noted that the impact of the epidemic on the Pakistani economy was greater than previously expected, with economic growth expected to contract by 2.6 per cent this fiscal year and continue to float by 0.2 per cent in the next fiscal year. Although the Pakistani government has adopted various methods to alleviate the economic recession, private consumption is sluggish and the sharp drop in exports from major labor-intensive industries is difficult to improve in the short term. The outlook is more pessimistic than the Bank's April forecast. (Ministry of Commerce website)
Four Asian countries bid to supply rice to Philippines.According to a report by the Philippine "Star" on June 9, four Asian countries expressed interest in supplying 300000 tons of rice to the Philippines through the government-to-government plan. This is the country's first time since the liberalization of the rice industry. In the G2G online tender on Monday, Myanmar, Thailand, Vietnam and India submitted offers for the rice to be delivered to five ports by August 14. The government, through the Philippine International Trade Corporation, set aside 7.45 billion pesos for procurement. The reference price for all five lots in Manila, Cebu, Tacloban, Zamboanga and Davao was set at $497.62 per ton. (China Business News Network)
Thailand to tax foreign Internet companies.Thailand passed a draft bill requiring foreign digital service providers to pay value-added tax on Tuesday, becoming the latest Southeast Asian country to seek to increase taxes on international technology companies, Reuters reported on the 9th. Last month, Indonesia passed a law requiring large Internet companies to pay VAT on the sale of digital products and services from July. A Philippine lawmaker has introduced a similar bill in parliament to tax digital services. (Interface News)
Interactive Message
If you are interested in our products, please leave your email and we will contact you as soon as possible. Thank you very much.
Other dynamics
The company was founded in 1997, currently 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting. The company's process equipment strength, Japan's new east automatic casting line 6, commercial vehicle brake disc automatic casting line 2. There are 56 processing lines -6 full-automatic one-word processing lines and 30 robot processing lines. Packaging cleaning line 5, spraying line 3.
Since the beginning of this year, the price of raw materials has risen sharply, sea freight has soared, and the difficulty of finding a box of shipping space has seriously plagued manufacturing companies. The current power curtailment has made companies even worse. Take our company as an example. Since the power limit in early September, the company's production capacity has dropped by about 50% on average every day. Exports have decreased by 0.02 billion yuan. The performance rate of orders in hand is about 50%. New orders were reduced by 10%. These data are the impact of the current power rationing on enterprises. If the power rationing situation is not alleviated, the impact on enterprises in the fourth quarter will be more serious.
Recently, Yunnan, Jiangsu, Qinghai, Ningxia, Guangxi, Guangdong, Sichuan, Henan, Chongqing, Inner Mongolia, Henan and other places have begun to carry out energy control measures to limit energy consumption.
The total power generation in 021 is not low. In the first half of the year, China's total power generation was 3871.7 billion kWh, twice that of the United States. At the same time, China's foreign trade has grown extremely fast this year. According to data recently released by the General Administration of Customs, in August, the total value of my country's foreign trade imports and exports was 3.43 trillion billion yuan, a year-on-year increase of 18.9 percent, achieving positive year-on-year growth for 15 consecutive months, further showing a steady and solid trend. In the first eight months, the total value of China's foreign trade imports and exports was 24.78 trillion billion yuan, up 23.7 percent year-on-year and 22.8 percent over the same period in 2019.
The impact of the neo-coronary pneumonia epidemic on global supply chains continues, with high international freight rates, container shortages and terminal congestion still unabated, and labor shortages exacerbating the dilemma. The outbreak of the new coronary pneumonia epidemic in 2020, due to the obstruction of international freight, soaring transportation costs, international trade in goods greatly hindered, triggering a supply chain crisis in many countries (regions), since 2021, the new coronary pneumonia virus variant strain raging, so that the supply chain has not yet fully recovered.
Statistics from the China Association of Automobile Manufacturers show that in the first seven months of 2021, China's cumulative automobile exports reached 1.002 million, an increase of 1.2 times year-on-year, but the month-on-month growth was only 9.8 percent, showing a shrinking trend. Moreover, commercial vehicle exports fell 11.6 percent month-on-month, of which new energy commercial vehicle exports fell 57.8 percent month-on-month. It is said that the main reason for the decline in automobile exports is the poor shipping channels.
Product recommend
At present, 4000 a variety of models of automobile brake discs, brake drums with an annual output of 10 million pieces. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
At present, 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
Address: Zhuqiao Town, Laizhou City, Shandong Province
Mobile phone official website