China – Jan-Feb Retail Sales
14/03/2019 12:24 pm MYT
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Retail sales in Jan-Feb 2019 rose 8.2% from a year ago, the same pace as in Dec 2018 – see figure 1. Apart from a 2.8% contraction in vehicle sales, retail sales rose in all the other major categories. Meanwhile, online retail sales rose by 13.6%. With a stable labour market, private consumption should remain as the main driver of economic growth in 2019.

 

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Note from Publisher
This week, the world economy and financial markets underwent extreme volatility due to the actions of one person. The US-China trade conflict has evolved into an all-out trade war as both countries threatened more actions following the initial rounds of tit-for-tat tariff hikes. As if the global condition is not turbulent enough, after bullying China, the same person turned his gun on Iran, threatening to start a war in the Middle East.

With the most powerful country on earth being the biggest threat to world peace, what can the rest of the countries do ? The other peace-loving countries on earth must unite and reject Donald Trump’s hypocrisy and destructive policies. Although the US is still the largest economy in the world, she is no longer as critical as say 40 years ago. Nowadays, when the US sneezes, the world needs not necessary catch a cold. China, Europe, and the Asian developing countries together can hold up the global economy.

In addition, economists and researchers around the world must publish articles to counter the lies by Donald Trump that the trade war is benefitting the US and Americans. Americans must not be cheated by their president again.
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