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Duncan, if we start with the overall picture, china exports increasing, double digits, imports also, not by so much. give us your thoughts on how china is doing. china is doing. well, china s exorts china is doing. well, china s exp°ft5 are china is doing. well, china s exports are holding - china is doing. well, china s exports are holding up - exports are holding up somewhat, although the growth rate has slowed down. what we are seeing for exports is that consumption patterns in china s key export markets, like the us, like europe, are starting to revert to pre covert patterns. so consumers are spending more on going to cafes and pubs, rather than buying masks and laptops to work at home. and on the import side, china has been hit by its worst set of covert outbreaks. places like shanghai most obviously but actually in many places across the country, and this is likely to dent consumer demand and therefore demand for imports in china. 50 ....
Whole supply chain crisis era. china and russia may share a border, but that border is extremely remote from everything that matters. russia the russian economy is west of the euros, the chinese economy is mostly along the coast. there is an immense distance between them. oil is normally shipped by pipelines to ports where it s loaded on to super tankers. there is no sea route from russia not a use bl one from russia to china, there is no pipeline crossing the entire expanse of siberia. you can put it into tank cars and put it on railroads, but there s only a handful of rail lines and, again, it s 3,500 miles from moscow to beijing. just logistically trying to make china the market for russia s oil doesn t work very well. and on the other side, on the import side, china is an industrial powerhouse, but still it s a middle income country ....
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