November 11 is Singles’ Day in China. It is an unofficial shopping holiday that was started by Alibaba in 2009. It is called Singles’ Day because the repeated number “1” in “11.11” refers to single people in Chinese. Although Singles’ Day is often compared to Black Friday in the US, it is actually more similar […]
Last week, the Ant Group was expected to list in Shanghai and Hong Kong the largest IPO in history. However, on Tuesday, November 3, the Shanghai Stock Exchange announced it had postponed the company’s listing, citing “major issues” that might cause it “not to meet the listing conditions or disclosure requirements.” The IPO listing was […]
For at least three decades, under both Republican and Democratic administrations, the United States has urged China to open up its financial markets to foreign capital and foreign financial firms. However, as part of a broader strategy to decouple relationships with China, President Donald Trump’s administration appears to want global financial firms to pull back […]
The second quarter of 2020 saw the worst quarterly decline in economic terms since the Great Depression of the 1930s. The US economy literally fell off the COVID cliff. This downdraft side of a very sharp “V” has already made an economic bottom. (It was foretold by the March 23 low in the stock market.) […]
Cumberland Advisors’ David R. Kotok notes there is some positive movement toward normalization on the diplomacy and trade front between the United States and China. He touches on supply chains, COVID-19, how our political systems differ, and how our generations of millennials are positioned for the future.
Highlands News Sun – COVID-19: Florida vs. Taiwan August 08, 2020 – By David R. Kotok, Guest columnist Excerpt: On July 11, in a COVID-19 briefing held at Blake Medical Center in Bradenton, Florida, Gov. Ron DeSantis bragged about the amount of coronavirus testing Florida has done compared to Taiwan. He said, “We’ll go over […]
For the next 100 days or so, the growing focus on the US election may drive news flows and alter markets. Remember, though, there is a chasm between what polls are saying now and what markets are pricing as expectations for tomorrow. Most market agents are looking at 2021 and are now focused on a […]
China’s economy, the second largest in the world after that of the United States, is recovering from a sharp slowdown in the first quarter of the year. The first estimate of the annualized second-quarter GDP growth rate is +3.2% versus 2.4% expected, a strong reversal from -6.8% in the first quarter. The advance indicates that […]