China is not currently a flavor of the month among Western democracies.
It deplores his human rights atrocities against the Uyghur minority, the destruction of democracy in Hong Kong, the Huawei telecom autocracy and most importantly the visit of the Covid-19 pandemic.
Unsurprisingly, there are citizens in the UK who are not very enthusiastic about the People’s Republic’s rapid recovery from the disease-induced global slump.
The worst over? Containers pile up in the deep water port of Shanghai. Production in China increased by 4.9 percent in the third quarter. The data shows that almost all sectors of the economy are improving
In a globalized, connected world, it is impossible to break free from the Chinese economy, despite Donald Trump’s efforts to punish Beijing for its arrogant approach to global trade.
But with the West looking at a £ 21 trillion US manufacturing shortage due to Covid-19, it’s hard not to take comfort in China’s recovery from the depths of the recession.
Production in China increased by 4.9 percent in the third quarter. The data shows that nearly all sectors of the economy – including retail, domestic travel, entertainment, construction and business investment – are improving.
The revival was fueled by monetary easing, heavy loans and government investment in infrastructure in the provinces.
The spillover effects for the rest of the world economy will be significant. Despite the devastation of Hong Kong’s new security law, it too is roaring back.
The Hong Kong Stock Exchange has been awarded a share of Ant Financial’s IPO worth an estimated £ 27 billion.
Meanwhile, Hong Kong’s legendary real estate market is roaring back with a record 23,000 applications for the first 391 apartments in a new 3,000 residential complex in Kowloon.
On the mainland, imports were up 13 percent, encouraged by the improvement in retail sales, which should be good for British luxury companies such as Burberry, as well as exports of cars from Europe.
Investments in infrastructure and construction will be beneficial to iron ore champion Rio Tinto, one of the largest players in Australian mining.
China’s relentless and unbridled test-and-trace approach to contain Covid-19, along with the fact that President Xi Jinping does not have to worry too much about Andy Burnham and other local politicians, means that this is not just the source is. of the pandemic, it has managed to contain the virus.
Like it or not, China’s recovery could benefit us all, especially if tourists regain their enthusiasm for Bicester Village and Selfridges.
It’s all very discouraging as the rest of the world is suffering, but purchasing power speaks a language that we can all understand.
As the grande dame of British real estate, where Land Securities is heading, others are likely to follow.
CEO Mark Allan’s decision to sell £ 4 billion in assets, many of which are underperforming retail sites, points to a major change of course.
The overexposure of the UK real estate industry to shopping has been one of the main features of Covid-19, which sent Intu to Carey Street and pranked its potential partner Hammerson. Landsec will divest part of its London portfolio, but will not give up on the capital.
The message is that it thinks the Covid-19 desertion from urban centers is not permanent and they will come back roaring.
Residents will want different, more flexible spaces that allow for working from home and a mix of shops and homes.
It doesn’t believe London real estate has become dying and thinks there is still a lot of foreign interest in mature leased London real estate.
If the size of the £ 5 billion portfolio allegedly owned by UAE ruler Sheikh Khalifa bin Zayed is an example, that’s clearly true.
Landsec shares are down more than 50 percent from its February high. They still sell at a huge discount on the underlying asset values.
Real estate can be a slow move in a slump. But the fact that Landsec exists at all is a testimony to founder Harold Samuel who saw the value of bombed London after World War II.
The UK life and pension companies are showing great creativity amid the Covid catastrophe.
Legal & General is relying on British science and innovation by investing £ 200 million at the University of Oxford to build a new ‘Life & Mind’ center, bringing together the departments of zoology, plant science and experimental sciences.
ISA and policyholders should be encouraged to invest hard-earned savings wisely in the future of the country.
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