Bloomberg: China’s Factory Inflation at 2008 High Adds to Global Pressures
Surging costs of imported commodities drove China’s factory-gate inflation to its highest level since 2008, raising the odds that exporters will begin passing on higher prices and boost inflationary pressures in the global economy.
The producer price index climbed 9% in May from a year earlier, driven by price increases for oil, metals and chemicals, the National Bureau of Statistics said Wednesday.
The median forecast in a Bloomberg survey of economists was for an 8.5% increase.
Consumer inflation increased only 1.3% from a year ago, missing an estimate of 1.6% and suggesting retailers aren’t hiking prices yet due to sluggish domestic demand.
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WNU Editor: I mentioned this a few weeks ago. Speaking globally, China is the place to look at for future trends. Or to put it more bluntly. What happens first in China eventually gets repeated in the rest of the world at a later date.
Case in point. China was the first country to experience the pandemic. The first country to close its economy. The first country to close its borders. The first country to open up (with restrictions). The first country to experience a booming economy. And now the first country to be experiencing serious inflation. My prediction. Higher inflation is coming to the rest of the world.
More News On China Facing Inflationary Pressures
The price of goods leaving China's factories is rising at its fastest pace in 13 years -- CNN
China’s factories now charging most for their goods in almost 13 years -- SCMP
China Moves to Tame Inflation Before Prices Rise Too Much -- NYTimes
China’s producer prices surge the most since 2008, cutting into business profits -- CNBC
China Launches Price Controls After Red Hot Inflation, Highest PPI Since Lehman Collapse -- Zero Hedge
China's Inflation Could Be the World's Problem -- Bloomberg
6 comments:
A lot of stuff sold in the US is manufactured in China, so of course the US will be hit and hit hard.
The US is already being hit hard, because Joe is an idiot and before he was an idiot suffering from mental decrepitude, he was a stupid, racist person. The people pulling his strings are stupid too. These malcontent losers are restricting US oil production and importing oil from an enemy, Iran. High energy prices sit at the base of many if not most inflationary pressure.
Food and energy prices are already up in the US. TY Demofucks!
"Normal people don't use that word, because they don't have any sort of society around them that might give it a thumbs-up. Hunter, though, doesn't have that kind of inhibition. Someone has always enabled him in such language, and that's why he used such words facilely. One wonders what kind of talk this overgrown kid was exposed to growing up in the Biden household as Joe praised Democrat former Klansman ..."
now wipe yourself, zip up pants, and take nappie
It all feels engineered.
The outbreak
The lockdowns
The chaos
All engineered and orchestrated by the media. To what end? On whose behalf?
Certainly the largest wealth transfer in recorded human history has taken place in the last 16 months.
And look at its direction.
Trillions have gone from West to East, thanks to the virus.
But also, trillions have been distributed from the middle class to the upper middle class around the World.
The class that benefited the most of this "outbreak", if you plot it as venn diagram, are the globalists, corporate and private entities in East and West that don't wear a flag and are loyal to no country or God or morals. They look at countries as a thing of the past. And they might be right... BUT..
The crime still was a crime
And the penalty is death
"Normal people don't use that word, because they don't have any sort of society around them that might give it a thumbs-up. Hunter, though, doesn't have that kind of inhibition. Someone has always enabled him in such language, and that's why he used such words facilely. One wonders what kind of talk this overgrown kid was exposed to growing up in the Biden household as Joe praised Democrat former Klansman ..."
Hunter Biden taking a nappie after ...
China is also deeply in debt as a result of their economic expansion and infrastructure development that goes along with it. Then there's the military build up.
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