Not every industry comes bearing good news
Export related manufacturing industries continued to suffer from slower profit growth. Papermaking and paper products, which are highly related to export activities, e.g. carton boxes for packaging, suffered a 10.7%YoY year-to-date negative growth of profits. The textile industry experienced a 7.0%YoY year-to-date contraction in profits.
The trade war continued to damage export-related manufacturing activities. As long as the 'phase-one' deal is not signed, the tariffs imposed on China's export to the US will not be rolled back. But, even if the 'phase - one' deal is signed, the rollback of tariffs, according to the media, will be just 7.5% on $120 billion goods, which is too small to stop damages on overall Chinese exports.
"profit" - Google News
December 27, 2019 at 06:30PM
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Big jump in Chinese industrial profits - ING Think
"profit" - Google News
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