Posted on 12/19/2023 4:58:14 AM PST by FarCenter
YIWU, China -- Christmas has not yet arrived but trader Jiang Qing is already putting away unsold Santa Claus hats, stockings and other ornaments from her 30-sq.-meter store. For her, the peak Christmas sales period is October and this year has not been bountiful.
"Can't say it is a good year," said Jiang, reflecting on the one-third drop in sales for 2023. Like the other traders in Yiwu Small Commodity Mall, dubbed the world's largest wholesale market, Jiang has a small store front but she derives most of her sales from exports.
China's loosening of its border controls early in 2023 after years of strict COVID restrictions raised expectations. But to many exporters like Jiang in the eastern city of Yiwu, business was better in 2022 when consumers across the globe indulged in heady post-pandemic splurging.
"Luckily, we had Russia and the Middle East markets to offset weakened demand from big spenders in the U.S. and Europe," said Jiang. Similar sentiments were echoed by other traders in the market.
Compared with the last few years, there seemed to be more visitors to the sprawling mall of 260,000 sq. meters, the equivalent of about 36 soccer pitches. But traders say this foot traffic does not necessarily translate into sales.
Yiwu Small Commodity Mall, dubbed the world’s largest wholesale market, has seen an increase in visitors, according to traders, although not a rise in sales. "Customers in the U.S. and Europe are generally asking for a 10% cut to our catalog prices citing high inflation in their countries," said one seller of fake Christmas trees.
China's exports broke a six-month drop to grow 0.5% in November, but total outbound shipments in the first 11 months still declined by 5.2%. Imports dropped by 6% over the 11 months.
Exports to the key U.S. market fell by the biggest margin, down 13.8% in the year to end-November, while those to the EU and Southeast Asia fell by 11% and 5.5%, respectively. China would be facing an even bleaker picture if not for strong vehicle exports, which surged 71% in the 11 months to end-November from the same period in 2022.
i bought a bicycle chain break. it didn't even last for one use, instead of breaking the chain link , it broke itself. i even bought another one in case i just got a lemon, nope , same result. it looked like a chain break , but it wasn't, it was a pot metal counterfeit. never did find a chain-break that wasn't made by ccp china , that worked. just had to buy a new chain.
last counterfeit product i bought was a digital humidity gauge for my guitar case,.. i suspected its reading was false and yesterday while it was raining , 100 % humidity, it registered 50 % humidity. useless . counterfeit. just sayin, folks cant afford to buy crap products that are a waste of money anymore.
The restart of paying Student Loans is going to be the grinch that stole this Christmas.
That is sucking billions of dollars a month out of the economy—and it’s pulling out “disposable” income. Millennial parents with kids are cutting back.
I know my kids continued paying down their debt, but that wasn’t the case with many of their peers. Many of them were grad students and their monthly nut was $750. Even if you are working in a good job, that is going to leave a mark.
Oh well…
No one forced students or parents to take out student loans. If a student or parent can't payback a loan, they should file for bankruptcy and/or sue the school if the school made promises to the student/parent saying their degree will provide a well paying job.
The government putting its hands in my pocket to pay for someone else's loan is criminal!
What the government can and should do is get out of the student loan business ENTIRELY and relegate that job to private lending institutions. Additionally, the government should make it very easy for a parent or student to declare bankruptcy so that both the lending institution and the school eats the loss. When the lending institution and school understands it's on the hook, they will make more prudent decisions as to who gets a student loan.
Gee, where did I say any of that.
It IS possible to look at a situation objectively to identify a cause and effect WITHOUT expressing a political opinion.
Actually, that is how MOST sane people think. Not on FR, though. How someone excretes feces is seen as political event.
The lack of thinking around here lately is incredible.
And yet, you stay.
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