Weekly Market Snapshot – December 30, 2019
Created by: Sam Tenney
- Holiday retail sales rose 3.4% year over year, according to Mastercard and Visa consumer spending data for the November – December season. This came in short of the 3.8% estimate from the National Retail Federation we looked at in October.¹
- Former Federal Reserve chairman Alan Greenspan says inflation will “Inevitably rise as deficit balloons”.²
- China has agreed to cut several tariffs on goods around the world, including 23 countries and regions that have free trade agreements with China such as Australia, South Korea, Iceland, ect. According to the China Globalization Think Tank this is to not seem one-sided to US influence.³
- US Officials believe China’s “Belt and Road” initiative is destined to collapse. “[They are] 100 percent… Like a house of cards because of debt overload, poor infrastructure, bribes, and lack of transparency”. The Belt and Road initiative is how China plans to link East-Asia to Africa and the Middle east, through a series of vital infrastructure projects including roads, railways, and energy pipelines.
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