Global consumers are trimming back, and China's economy is feeling the pinch:
I sure hope Mr. Jiabao adds to that stimulus, because my portfolio depends on it. :-) Seriously, a weaker Chinese economy doesn't bother me. China's got the healthiest economy in the world right now in relative terms, so a little weakness just makes it a buying opportunity.
Nota bene: Anthony J. Alfidi is long FXI with covered calls.
China’s exports fell the most in almost a decade in December as the deepening global recession cut demand for the nation’s toys, clothes and electronics.
(snip)
Waning export demand has led to protests by fired factory employees, an exodus of 600,000 migrant workers from the manufacturing hub of Guangdong, and an estimated urban unemployment rate of more than 9 percent. Premier Wen Jiabao pledged Jan. 11 to add to the nation’s 4 trillion yuan ($585 billion) stimulus package to create jobs and avoid social instability.
I sure hope Mr. Jiabao adds to that stimulus, because my portfolio depends on it. :-) Seriously, a weaker Chinese economy doesn't bother me. China's got the healthiest economy in the world right now in relative terms, so a little weakness just makes it a buying opportunity.
Nota bene: Anthony J. Alfidi is long FXI with covered calls.
