New chapter for China's e-commerce sector
China's e-commerce sector is one of the country's greatest success stories. In the late 1990s, when much of the developed world was already starting to buy goods online through platforms like Amazon or eBay, shopping in China was exclusively done with bags in hand. Few had personal computers at home, and even fewer had direct internet connections. Instead, people had to sit in internet cafes or seek out other public areas. Moreover, the only e-commerce sites were for businesses.
Argentina: A brave new world post-primary elections
Since the victory of the Alberto Fernández–former President Cristina Kirchner ticket over incumbent President Mauricio Macri and Miguel Pichetto in Argentina's 11 August primary election, the political outlook in the country has changed markedly.
French reforms - little impact on equities
Last week I argued that French President Emmanuel Macron’s reforms since being elected in May 2017 have been a step in the right direction. But many of them will take time to boost French GDP (e.g., the proposed new pension system, which will be debated next year, would not take effect until 2025) and more anti-reform protests are likely in September, after “la rentrée” (the start of the school year).
Tapping into Seattle
While in Seattle this past week for a work-related event, I was fortunate enough to engage in three separate conversations that provided me with differing perspectives on the current trade dispute. The first of these was a client who is an owner of a small business that is dependent upon overseas sourcing of products as part of their supply chain. The second was with a financial advisor who had just recently listened in on the earnings call of a major technology company. The last was with the sales manager for a mid-size industrial company that both produces and distributes their products domestically. While all acknowledged the importance of escalating trade tensions between the US and China, each viewed the impact quite differently.