Market Wrap – Could China Drop Out Of The WTO and Cause A Major Divide In The World
Chris Temple wraps up the markets for us. We look at the selloff in US markets and the move into risk off assets like gold and treasuries. We also discuss the rumor (for now) being that China may drop out of the WTO and create their own trading organizations. This would cause a major divide in the world. While there is no way this will happen right away it could be a major shift around the world.
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The weakness in manufacturing has been well-documented. But this sudden deterioration in the all-important service sector, from still strong in the first quarter, to hitting the skids in April and May, according the IHS-Markit PMI, is disconcerting.
Slowest growth in orders since Oct 2009. Cleanest dirty shirt gets dirtier
As yet unidicted Criminal Hillary Clinton, bit now the countdown starts….
https://www.youtube.com/watch?v=fj5oxh0Ty1I
10..-..9..-..8..-..7..-..6..-..5..-..4..-..3..
https://www.youtube.com/watch?v=Lg3zOYV71mc
Declass soon.
oops Sorry for the repeat above, the second one was supposed to be a photo of the Presidential memo.
The Hammer
Very good listen. Thanks Cory and Chris. The subject of China dropping the WTO membership would put a twist into future outcomes. Seems to me we would be back into a ‘cold war’ atmosphere where countries had to choose which side they were going to trade with. Question for me is which side would Europe side with and what would be the ramifications to treaties like Nato?
Ok…….
https://wolfstreet.com/2019/05/23/suddenly-us-service-sector-too-lets-go-manufacturing-gets-even-weaker/