Finally after 6 month of testing, we’ve got Scotty Kilmer – The most honest and funniest car channel on YouTube, installed Boslla Bullet Series – Multi-color LED headlight bulb on Toyota without sponsorship and advertising. He has been an auto mechanic for the past 50 years. And it’s Boslla headlight model is 9006/HB3 type, which he test on the low beam of 2007 Toyota Matrix.To get more news about 9006 LED headlights, you can visit iengniek official website.

Boslla Bullet Headlight Bulb comes with patent dual color chip. But not like Dual Color LED headlight bulb on the market. It has more options and functions.

Just check out his introduction of these Cool Multi-Color LED Headlight Bulbs by Scotty Kilmer.
Install Guide
Pull over and open the hood.
Twist old halogen bulb and take them out.

Connect the external driver and tighten the nut.
Insert the plug.
Take out the glass, push and twist in the the bulb.
Enjoy Boslla 9006

For more information about the World’s first four color LED headlight bulb – Multi Color LED headlight bulb, please click the link to product page.

SEALIGHT H13 9008 LED Headlights Bulb

10-minute installation: the durable non-polarity plug-and-play design typically installs in less than 10 minutes. No tools needed, just directly plug into your vehicle’s housing and connect.To get more news about H13 LED headlights, you can visit iengniek official website.
No glare or dark spots: although brighter than halogen bulbs, oncoming traffic will not be blinded, and there are no dark spots or shadow areas
Compact fanless design: the latest non-integrated fanless design is compact and silent, utilizes an advanced heat sink, and features a driver unit for increased performance and longevity
Better visibility: ditch your dim yellow halogen bulbs and make way for super-focused 6000K bright white headlights. The daylight optics of the H13 LED bulb allow you to see clearer for safer driving
Extended lifespan: the S1 H13 LED headlight bulb has been rigorously tested for durability and boasts an incredible extended lifespan of over 30,000 hours for longer-lasting illumination

An historic shift into reverse gear for the Chinese economy could be one of the next consequences flowing from the spread of the novel coronavirus. That prospect threw Asian stock markets into reverse on Monday, despite economic stimulus measures in the U.S.To get more latest china economy news, you can visit shine news official website.

The U.S. Federal Reserve, on Sunday (Monday morning in Asia) announced a full percentage point cut in its benchmark interest rate, reducing it to close to zero. The Fed also promised to inject liquidity into the economic system by buying at least $500 billion of Treasury securities and at least $200 billion of mortgage-backed securities. The Hong Kong Monetary Authority followed the U.S. central bank’s example and cut its own base rates.But financial markets were unimpressed. Australia’s ASX index crashed by more than 9% on Monday to 5,002. New Zealand’s NZX 50 index fell 3.6%. Hong Kong’s Hang Seng Index, already a bear market since Friday, was down 2.2% at the lunchtime trading break. South Korea’s KOSPI index headed for a loss of more than 1%, though Japan’s Nikkei index rose 0.7%, apparently in anticipation of stimulus measures.

Mainland Chinese markets were firmly down, with the SSE Shanghai Composite benchmark down more than 2%.

Chinese data unveiled on Monday showed that industrial production in the world’s manufacturing hub fell by 13.3% in January and February. That has never happened before in the modern era.

Other data showed Chinese retail sales down by 20.5% in the same two months, and fixed asset investment down by 24.5%.

Despite China, now seeming to get back to work after new Covid-19 infections have peaked in the country, many economists are now forecasting an historic decline in China’s GDP when data for the January-March quarter is completed.

In total, China has incurred some 81,000 coronavirus infections and over 3,100 deaths. On Monday, it reported 16 new coronavirus infections and 14 deaths, numbers that are significantly down on the past trend. Since the weekend, mainland authorities have been saying that most new cases are not local infections, but are imported with foreigners arriving in China.

That pattern may also explain the latest fall in Asian stock markets. The recent decision by Apple to close its retail stores outside Greater China hurt many of its Asian suppliers. iPhone assembler Hon Hai Precision fell 4.3% to TWD71.3 per share by mid-Monday. Sunny Optical slumped 10.6% to HK$105.9. LG Display was 2.2% lower at KRW11,050. Sharp bucked the trend with a 2.2% gain to JPY989.

The pain being incurred by Chinese businesses was reflected in additional share price losses for Alibaba and Tencent. The Hong Kong-traded units of Alibaba dropped 5% on Monday to HK$182.10, while Tencent fell 4.2% to HK$349.60.

There was no new bad news for China’s media sector. But the longer that mainland cinemas stay shut, the deeper the problems become for companies including: Wanda Film (whose shares were down 4.4% to CNY17.12); China Film Co. (down 2.4% to CNY12.96); and Huayi Brothers (down 3.5% to CNY3.77). Hong Kong-traded Imax China on Monday fell 3.5% to HK$13.94.

Beijing is China’s capital and centre of political power, but it is the southern city of Shanghai that has been dubbed “the capital of capital”.To get more Shanghai economy news, you can visit shine news official website. Then came decades of revolution, political turmoil, and economic isolation. This only started to change in the late 1970s with China’s reform and opening up. Since then, Shanghai has been back on the map. And in that map of the world, China has become a key player.China is now the world’s second-largest economy, with the world’s second-largest foreign exchange reserves. It is also the world’s biggest trading nation. Shanghai too has the most developed financial exchange in mainland China.In 2019, Shanghai attracted a record US$19.05 billion in foreign capital, up 10.1 per cent year-on-year. Foreign financial institutions have also increased their presence in the city. In the latest Gobal Financial Centres Index, Shanghai was ranked the fourth most competitive financial centre worldwide, second only to Tokyo in Asia. Professor He Shuquan from the School of Economics at Shanghai University said the city’s key selling point is the access it offers to markets in mainland China. But a strategic location is not Shanghai’s only selling point. Mr Lim Chee-Kiang, a Singaporean consultant working in Shanghai, said the city has a “secret sauce” that distinguishes it from others. One is talent, the other is innovation, said Mr Lim, the managing director of consultancy firm Urban Science in China. “We all know that industries around the world are facing massive amounts of digital disruption. The financial industry is one of the most impacted sectors. So these elements of innovation will help strengthen Shanghai’s position and its growing prominence as a financial hub for China and for the rest of the Asia-Pacific,” said Mr Lim. The vision for Shanghai to be an international financial hub was first unveiled by China in 2009. In February 2020, the Chinese government issued a new directive, calling for the acceleration of this transformation. The plans included trials in the Lingang New Area, an extension of the city’s free trade zone that’s touted as a new window to economic globalisation. Experts said such a policy document, issued while China was at the height of the COVID-19 pandemic, showed the extent of official support for this goal. They also cautioned, however, that financial hubs cannot be created by government policy alone. “We will have to see whether the Chinese government is able to cultivate the people or systems to meet the requirements of being an international financial hub,” said Prof He. “If the government is unable to cultivate the environment, Shanghai might not be able to become a true international financial hub. This environment can either be formed naturally, or due to the efforts of the government. However, for the government to create a financial hub artificially, there will certainly be a price to pay,” he added. One major sticking point is the convertibility of the Chinese yuan. According to Prof He, Shanghai cannot be considered an established financial hub, because one criterion is that the yuan has to be freely convertible. He considers the financial hub goal a work in progress. He also pointed out that export and import volumes need to be considered too. “There is a gap between Shanghai’s financial hub status and its export and import volume. The RMB’s status and export and import volume are not proportionate. The volume is very high, but the RMB’s status isn’t very high,” said Prof He.But businessmen such as Mr Lim take this as part of the operating environment in China. “The non-convertibility of the yuan imposes an additional cost of doing business, an additional barrier. So it means that, for example, if we have to bring capital from overseas internally for our company, we have to go through a lot more legal and administrative process which in a more open market, would be almost immediate,” he said. “Those are some of the pain points that companies have to deal with being in China. But I think we have to think of it from the longer term perspective.” Hubert Tse, a Hong Kong lawyer who now works in Shanghai, said while he is confident that Shanghai will grow as China continues to develop, the wider eco-system needs to be considered as well.

The profit-taking price is one of three obligatory factors (the remaining two are the stop-loss price and open a position price) that you need to set before making a trade. However, most traders often ignore the profit-taking price, or do not have a reasonable profit-taking method but often take profit on a personal presentiment. This makes your profit significantly reduced, some traders even take profit early when the profit from that trade is not even equal to the amount they set to cut loss. A professional investor needs to realize that, even if their trading system is only 50%, or even lower, a reasonable profit-taking price compared to the stop-loss price (preferably 2 times or more up) will help them earn a profit.To get more news about BCP GROUP, you can visit wikifx news official website.

In this article, the author will guide you to use the Fibo Extension tool to be able to set a reasonable profit taking price when you execute a buy/sell order during the correction phase of a market trend. For most experienced traders, they tend to trade during the corrective market phase (prices are pulled back to the MA line) rather than use catching- peaks/valleys method. This will help them to be more secured, at the same time, not to lose the opportunity to seek a greater speculative profit, because in a market trend, prices will move very far.

When trading at the adjusted price range, you will set a point at which profit taking price is considered reasonable enough. Actually, very few investors can answer this question properly, maybe they have another way to determine the profit-taking price, the author herein absolutely do not judge whether the tool they are using is right or wrong, because every individual acquaintances with the use of certain indicators, as long as they are effective.

The purpose of the article is to just recommend the Fibo Extension tool to determine the profit taking price, which can provide investors with more options or provide the new comers in this industry who have no idea how to determine the profit-taking price, some fundamental knowledge before they start their games.

How to create the Fibo Extension？

Tradingview gives every trader a chance to own an account for free, this tool is literally integrated in it. From the chart view, you can create it by just clicking on Gann and Fibonacci Tools >> Trend-Based Fib Extension. See the picture below

The important thing before using the Fibo Extension is that you need to understand exactly which tool is used in the market situation or time period. The Fibonacci Extension is used in a trending market and is drawn when you want to execute an order at the price line being pulled back to the MA line. Therefore, if the market is in an uptrend, the MAs need to slope upward; in a downtrend, the MAs need to slope downward; the new bottom area, the peak area before the pulled back price, the old bottom area and the MA lines must create a gap on the price chart marked with white parabola (see illustration).
l Click on the toolbar, connect the old bottom, the newly created peak of the trend, the new bottom when the market pulls back to the MA line, the Fibo levels will be created as shown in Figure 1.

l Use the Fibonacci Extension to determine profit taking prices

l Figure 2 illustrates how to use the Fibonacci Extension to determine profit taking prices of a gold price chart, under 1 day time frame.

l Fibonacci Extension creates many different levels of Fibo, but in the authors personal experience, you need to pay attention to 3 target price levels at Fibo 61.8; 1 and 1,618, and in fact, you only use 2 or 3 profit taking prices only.

l As you can see in Figure 2, the Fibo 61.8 mark is 1285.59; The Fibo 1 mark is 1302.51 and the Fibo 1,618 mark is 1329.87, which is achieved and these are the 3 profit-taking prices that you expected from the beginning.

l Normally, Fibo 61.8 and 1 marks are often achieved, Fibo 1,618 mark is only achieved when the market trend is very strong.

Mr. Park, a businessman from Korea who has 10-year experience in investing, got “heartbroken” recently. The man who first struggled in a romance scam and then fell into the trap of forex speculation exposed the tricks of the illegal platform BCP GROUP to us.To get more news about BCP GROUP, you can visit wikifx news official website.
This March Mr. Park encountered a Chinese girl named Lin Meisha on the network. The girls daily care and concern deluded him that she was the Miss Right. Guided by his “lover”, they started forex trading together on the platform BCP GROUP.
Such a girlfriend was so “considerate” and “intelligent”. She showed the profits earned from the platform from time to time, which increasingly won Mr. Parks trust to her and the platform.

This hasty relationship just ended in an unexpected way. Mr. Parks tens of thousands dollars in his trading account disappeared together with the girl.
“They had kept me in the dark all the time from this March to July!” Mr. Park recalled that the account balance should be $41,500 at that time considering his total deposit of $17,000 and the additional profits.
At the time when Mr. Park wanted to withdraw, Lin sent the signal of “trading 10 lots of XAU/USDA will certainly gain much.” Mr. Park followed it and earned $8,600 indeed. On the same day, Lin again told him to “buy 40 lots of EUR/AUD”. But this time the balance of $43,000 in the account vanished in just 5 minutes.
Whats worse, Lin blacklisted him and closed his account on the MT5 when he tried to argue with the platform together with her. As of press time, Mr. Park is still unable to access his remaining sum of more than $6,000.
BCP GROUP is displayed as “under no effective supervision” with a score of only 1.09 on WikiFX APP,which means the broker is quite risky. It is suggested to download WikiFX APP first, so as to recognize illegal brokers before trading.
So far, WikiFX App has included profiles of more than 19,000 forex brokers around the world, while integrating broker information query, exposure, field investigation and other functions, and protecting investors funds in forex trading. Click here to download WikiFX APP: https://bit.ly/wikifxIN

On Wednesday, U.S. stocks grew at the expense of the haven-associated USD, curbing its gains and punishing AUZ, NZD & GBP at the same time.To get more news about WikiFX, you can visit wikifx news official website.
Among the currencies, NZD was still reeling from the RBNZ (Reserve Bank of New Zealand) rate decision for August while GBP also suffered and became the biggest loser in the aftermath of U.K. latest GDP data which showed a jaw-dropping figure
On Thursday, Asia-Pacific stock markets may rise as part of a sentimental echo effect after Wall Street trade. Accordingly, USD and JPY are possible to further retreat but turn around NZD's setback and put premium on AUD. Furthermore, AUD will be partly affected by the countrys jobs data for July.

All the above is provided by WikiFX, a platform world-renowned for foreign exchange information. For details, please download the WikiFX App: (download link)

On Thursday European trading session, USD witnessed a retreat in full, creating space for a rebound in EUR/USD. While spot gold hovered around $1,930, WTI eased back to $42.5.To get more news about WikiFX, you can visit wikifx news official website.
The massive bond auctions dragged Treasury yields lower, and thats may be the reason for USD weakness. Early this week, DXY failed to keep the $94.00 zone, which prolonged its downtrend.
EUR/USD is extending its upside momentum and looks for chance to consolidate its 1.18 pivot key of the near term, which in turn is expected to boost the bullish momentum. Thus it will not be a surprise if it breaches the 1.19 in the short run.
GBP/USD gained some energy this Thursday, stopping its two-day decline with buyers keeping an eye on the 1.3100 barrier recovery.
Gold prices took a roller coaster rider from Tuesday to Wednesday and hovered around $1,930 on Thursday. Markets suggest that the sluggish USD may inspire bulls for gold.
Crude oil holds its initial support level at $42.30. According to the OPEC Monthly Oil Market Report, the global oil demand this year may decrease by 9.06 million barrel/day.

All the above is provided by WikiFX, a platform world-renowned for foreign exchange information. For details, please download the WikiFX App: bit.ly/WIKIFX

WTI crude oil embraced a steep rise in prices, up 4.5% to the high level of $43.68, compared to its low level of $41.76. It has recorded a fresh five-month high since March 6. Nevertheless, the outlook of oil remains uncertain because of the insufficient upward momentum in future oil prices resulted from the sluggish job growth in the United States.To get more news about WikiFX, you can visit wikifx news official website.
U.S. ADP reported on August 6 that, payrolls increased by just 167,000 in July, which is well below market estimates of 1.2 million. Dragged by the prints, oil prices eased back to around $42.50.
Currently, U.S. non-farm payrolls, which is due to release on August 7, is estimated to add just 1.6 million, far below June's figures — a record high of 4.8 million at that time.

It is notable that the dollar is still a safe haven currency recognized by markets. Languishing DXY sends all other currencies, gold and U.S. stock markets to higher level, wherein gold has refreshed a record high of $2,055.8.
WikiFX warns that once the risk aversion grows, the dollar purchase may jump as investors seek safe haven in the greenback, which will limit further gains in oil prices.

More than a week ago, Blizzard announced on the official site an upcoming event of World of Warcraft Classic, Battlegrounds, which should be released following Phase 3 in early 2020, but it is being released ahead of schedule as PvP System release.To get more news about Buy WoW Classic Items, you can visit lootwowgold news official website.

PvP battle system in WOW Classic was set to release on December 10, allowing players to delve back into the action. Back in August this year, Blizzard brought World of Warcraft back, attracting countless players into the server. And after a few months, Blizzard finally decided to add the Battlegrounds as an important feature to WOW Classic. Battlegrounds are competitive multiplayer maps throughout World of Warcraft universe, allowing the players to queue into the competitive matches between the Horde and Alliance teams. It introduced more than a dozen battlegrounds in World of Warcraft Classic, and each one has its own unique features.

Obviously, the Battlegrounds are closely related to the PvP system, the only way that players can upgrade the PVP ranking is by participating in the maps. That being said, players are required to kill opponents and NPCs to improve their ranking, and in some battlegrounds, there will be many enemies and high-traffic tasks, which will bring more challenges and benefits to the players.

More battlegrounds can provide more effective space for PvP players, reducing the waiting time for them. Until then, as long as you log in WOW Classic and open Group Finder to select Player vs. Player tab, and the system will randomly assign all players to a variety of battlegrounds and pair with other players to fight side by side. Starting from December 10, the Battlegrounds event will come with PVP System.

Only you could meet the requirements of the Adventure Guide and finish the and win not less than four random Battlegrounds in a week, besides the pretty reputation, you can also 5 Marks of Honor and a Radiant Azerite Core token as rewards. Blizzard provides an easier way for all PvP players to play this game, regardless of server type. World of Warcraft Classic is a game worth playing, it is not unchanging since its first release, but players will encounter many unexpected difficulties, even if the level cap is only 60. In such a game with complicated gameplay, if you don't always fall behind others, the best option is to Buy WOW Classic Gold for enhancing the characters.

It was announced that phase 3 of World of Warcraft Classic is coming in February, turning it to a halfway point of the whole game, and the following is the updated content of Phase 3.To get more news about Buy WoW Shadowlands Gold, you can visit lootwowgold news official website.

It is scheduled to release on February 12 at 5 PM CT, along with a series of host changes, a new raid, reputation rewards, class quests, Eternal Quintessence, especially the Darkmoon Faire. Reputation Rewards Adding more reputation rewards for players to gain through the Argent Dawn, Thorium Brotherhood, Timbermaw Hold, Silverwing Sentinels, as well as Warsong Outriders faction vendors in WOW Classic Phase 3, which has been mentioned in Patch 1.6 and 1.7 of original WOW.

Class Quests Beyond those original quests in Classic, it is also bringing the Class Quests with Phase 3 releasing for the players above level 50, requiring them to complete the class-specific questlines in capital cities, and conclude with a choice of one of three powerful rare Classic items. Eternal Quintessence This is a powerful and helpful Classic item to douse the runes of the Firelords in the Molten Core raid.

As long as completing the "Hands of the Enemy" and reach Revered reputation with Hydraxian Wasterlords, the players could gain the Eternal Quintessence from Duke Hydraxis into their inventory. It will provide such a chance to complete it, but not all players can successfully complete these quests smoothly, making the item very popular and rare.

The location is set to associate with the Blackwing Lai 40-man dungeon raid, we also specifically introduced these two parts in the previous article, World Of Warcraft February Update Will Bring Blackwing Lair And Darkmoon Faire, and you can view the full content through it. By then, it will add 8 bosses and 120 loot drops to increase the players' loot rate for WOW Classic Items.

Last week, we introduced the next update of WOW, Patch 8.3, which is also known as Vision of N'Zoth. The update is set to release on January 14, 2020, that is, before that, you still have some time to make good preparation.To get more news about WoW Gold Classic, you can visit lootwowgold news official website.

Characters are at the core of all battles, so today's topic is mainly about how to create an alt character for Patch 8.3. Upgrade the characters First of all, you'd better level up the characters to 120 as quickly as possible, and the commonly used methods are to pre-order the Heroic edition or better of the Shadowlands expansion, which could give you a level 120 character boost, 390 item level gear and a decent Heart of Azeroth neck level.

If you are still leveling up your characters, there are several events for you to pay attention to. Until January 7, you could earn a passive experience boost for alts when the old-school Alterac Valley battleground comes to an end, and with the Celebration Package 15th anniversary, you'll get 1.5-2 levels per battle for alts. Unlock races and zones It provides a lot of opportunities to unlock different races in World of Warcraft, such as Nazjatar and Mechagon through completing a series of challenges and quests until opening up new zones. When the Magni quests are available, you can improve your Heart of Azeroth to level 35, even higher. While the Mechagon zone with the quests that become available to you midway through the Nazjatar sequence, you could get the Pocket-Sized Computation Device until finish the necessary quests.

Level up items Good items are the key to determining the outcome, while the rapid way to build up the gear or items is via Benthic armor in Nazjatar to earn pearls, which could upgrade any piece of gear you want. It's worth crafting and upgrading gear for your alt character, and it could also earn XP and improve the skills when completing task, instead of waiting for another crafter make the armor. Surely, these are just some basic strategies for alt characters in WOW, and further information will be shared in later content.

The glare generated by the HID headlamps might be extremely disturbing for other drivers on the road, especially for incoming traffic, thus raising the number of accidents and fatalities.To get more news about 9005 LED headlights, you can visit iengniek official website.

This 2014 new 9005 head light assembled with 2 pcs highlight LED chips not only increases visibility, but also reduces glare. 3000lm and 6000K color temperature, and the emitted clear white light is identical to daylight. It is perfect equivalent of 90W halogen and xenon lamps. Low consumption, low heat, long life 30W power consumption is about 85% lower than traditional 90W halogens or HID light. Lower power consumption means low gas consumption.

This compact-size bulb is empowered by advanced heat transfer technology: electrically neutral thermal path process, 6063 aluminum cooling fin in grooves and layers, red copper and silver plate for thermoelectric separation. Such excellent heat dissipation translate directly to a longer lifespan and lower maintenance cost.

The driver is separated from the main body, about 10 mm short compare with other head light, compatible with more vehicles. IP68 waterproof rating is the highest in IP code. It can be safely used in any bad weather. PBT engineering-plastic makes high performance, resisting creep, heat and aging.

Planning to replace your old halogen car headlight while troubling with how to make choice?To get more news about 9004 LED headlights, you can visit iengniek official website. We will solve all your problem at one time.

This new LED car headlight is a high imitation of traditional halogen or xenon lamps, not only the luminous point is placed the same site, but the light chips cover with quartz glass tube to improve light’s beam angle (up to 175 degree). It can provide softer light for incoming traffic, as well as ensures roadway safety.

The another advantage is the temperature control system, designed with Intelligent temperature sensing chip and 6063 aluminum heat dissipation, red copper and silver plate for thermoelectric separation. Its wattage would down to 40% when light is too hot but it would be normal rapidly as it cools down. It can work just like a halogen/xenon lamps bulb but provides full brightness instantly. 3600lm and 6000K color temperature make it a perfect equivalent of 100W halogen lamps.

30W power consumption is about 90% lower than traditional 100W halogens light. Lower power consumption means low gas consumption. Something you need to know: This 9004/9007 head light provides both low beam and high beam. You can shift between the two settings with one light according to road and weather conditions. The light will darken when the temperature is too high and back to normal when it cools down IP68 waterproof rating is the highest in IP code. It can be safely used in any bad weather.

For decades, the Chinese government has sold to the world the notion that the Chinese economy can defy gravity, maintaining double-digit GDP growth rates year after year in the 1990s and 2000s, and staying above 6% for all of the previous decade, according to official government statistics. The Communist Party of China (CCP) certainly deserves credit for lifting most of its people out of absolute poverty over the past generation, for turning the economy into a juggernaut that is the envy of much of the world, and for improving the lives of the vast majority of its population.To get more economy news today, you can visit shine news official website.

But it has, at the same time, hidden structural weaknesses and vulnerabilities in the economy that may otherwise have changed the thinking of many Belt and Road Initiative (BRI) host governments about the wisdom of wanting to emulate the Chinese model of development. Over the past decade, some Chinese scholars and government officials have generated a consensus about the nine traditional industries in China most severely exposed to excess capacity: steel, cement, aluminum, coal, shipbuilding, solar energy, wind energy, petrochemicals and plate glass. All are related to energy, infrastructure construction and real estate development, reflecting the nature of the heavily investment-driven Chinese economy.

This led to a significant decline in rates of return throughout the Chinese economy. Throughout the 1980s and the first half of the 1990s, the capital return rate of the Chinese economy had been relatively stable, but since the mid-1990s, capital returns experienced variability, with the rate dropping since the onset of the Great Recession in 2008. China only survived the crisis by implementing a $586-billion stimulus package mostly directed toward local government borrowing to finance infrastructure projects. By the early 2010s, those stimulus funds had been spent, and many local governments were virtually bankrupt. Overcapacity exceeded 30% in the iron, steel, glass, cement, aluminum and power-generation industries. Many state-owned enterprises (SOEs) faced a severe profitability crisis, with returns on domestic infrastructure moving into the negative. At the same time, Chinese banks faced their own over-accumulation crisis, with dwindling domestic lending prospects.

Capital flight was in full swing, and by 2015, the outflow had become so large that China’s central bank was forced to spend more than $1 trillion of its foreign exchange reserves to defend the yuan. The government became increasingly concerned as stresses on the economy grew. Domestic construction came under pressure, the number of unused buildings and underutilized factories was apparent for all to see, and there was a risk that the excess capacity in the nine traditional industries would trigger widespread defaults. Labor unrest and activism soared as salaries plummeted, and strikes became more common.

That was when the government decided to pivot, and the BRI was born. Rather than being the result of the supreme strength on the part of the Chinese economy, the BRI was actually created out of profound weakness that China’s official economic statistics not only did not reveal, but tried to hide. The BRI is the Chinese government’s attempt to keep the plates spinning while addressing the country’s overcapacity, declining trade opportunities, rising debt and falling rates of profit by expanding China’s economic activity abroad. That accounts for why so many BRI projects require the use of Chinese enterprises and workers, are financed by loans that host countries must repay, and result in direct Chinese ownership of strategic infrastructure.

While the BRI succeeded in propelling the Chinese economy forward for a time, it cannot delay the inevitable day of reckoning. Many of the initiative’s projects are not financially viable, and the Chinese government continues to subsidize loss-making SOEs. The amount of Chinese investment associated with the BRI may also be inflated and therefore misleading. Only a fraction is affiliated with infrastructure projects, and most of them are financed with concessional loans from Chinese policy banks. Given that these must (at least in theory) be repaid, it will remain an open question just how much economic benefit may have been achieved, either in China or the host nations of the BRI.

China’s economic growth indicators are lopsided, pointing to possible downside risks for the country in the second half of 2020 as it tries to recover from the coronavirus pandemic, an analyst said Thursday.To get more latest china economy news, you can visit shine news official website.

“On Covid, the Chinese deserve a lot of credit. They certainly locked down much of the country,” said Andrew Collier, managing director at Orient Capital Research, a Hong Kong-based research firm. “Even though they may have launched the virus, they were pretty good at quelling it. That’s the advantage of an authoritarian regime,” he told CNBC’s “Squawk Box Asia.

” The coronavirus was first reported in China late last year, prompting the government to shut down more than half of the country as part of its efforts to contain the virus. China has since been trying to bolster its soft power by trying to take the lead in a global response to the public health crisis as U.S. infections soar and those in the Asian country fall. Recent data showed China’s June retail sales fell 1.8% from a year ago, much worse than the 0.3% growth analysts forecast in a Reuters poll. That came after a 2.8% drop in May. But that was still better than sharp drops in the rest of the world, said Collier.

“The problem with the stimulus measures and the economic indicators is that it’s very lopsided … it’s very focused on online sales and also on infrastructure build,” he said. Steel and iron ore production have been strong in China, “but nobody can quite figure out where all these metals are going,” he said, as auto sales have been rather weak even if the raw materials are going to the construction of infrastructure and property.

“There is some suspicion there’s a lot of stockpiling,” said Collier. He said tensions between the U.S. and China are “worrisome” with President Donald Trump seeming to use Secretary of State Mike Pompeo as a way to reignite hostilities toward Beijing as the president falls behind in the polls. But, investors will likely shrug this off, Collier said. “It is quite true that Trump is a bit of a paper tiger at this point … A lot of what he does is more flash than actual changes and it doesn’t look like they are going to rewrite the script on the U.S.-China trade relation, so there probably is going to be more noise than it is actual reality,” said Collier.

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Buy crypto instantly. USE YOUR CREDIT OR DEBIT CARD Instant card purchases are supported worldwide with a few exceptions. AVAILABLE EVERYWHERE Deposit and withdraw funds easily from anywhere in the world. CASH OUT IN SECONDS Withdraw funds directly to your bank account quickly and securely.

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