Adam Wolfe in The Financial Times: ‘China has little choice but stimulus’
12th MAR. 2024
In The Financial Times recent News piece, Adam Wolfe discusses the manufacturing sector in China. Ethan Wu references Absolute Strategy Research, discussing the manufacture of electric vehicles, oversupply of manufactured goods and deflation.
This pivot back to manufacturing is “radical”, says Adam Wolfe of Absolute Strategy Research, and it has generated important victories for China. Most notably, BYD is now the world’s biggest EV maker, and China the biggest auto exporter. But it has also created an enormous oversupply of manufactured goods, which, when combined with limp demand at home, is crushing industrial margins and fuelling deflation (Wolfe’s chart).
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