Tag Archives: Hong Kong

Apr 9 2025

China is the Auto Capital of the World


Posted originally on Apr 9, 2025 by Martin Armstrong 

tesla vs byd vs volkswagen group bev car sales q1 2024

China is the world’s largest car producer and exporter. A little-known fact is that China first became the world’s largest car exporter back in 2023, with low-cost EV companies BYD and Chery in the spotlight. The nation’s auto sector has been steadily expanding since then, with Chinese brands reaching an all-time high of 69.4% of domestic passenger vehicle market share in Q1 2025.

The growing popularity of higher-tech, EV cars has aided China’s auto sector. BYD overtook Tesla to become the world’s top EV company. BYD actually surpassed Tesla in terms of revenue back in 2018, but the two companies had tight competition. As of 2024, BYD exported 4.27 million vehicles worldwide, compared to Tesla’s 1.79 million vehicle sales. In 2025, BYD delivered 416,388 BEVs, exceeding Tesla’s 336,681 vehicles for two consecutive quarters. BYD surpassed Tesla in annual revenue for the first time in 2024, generating $107 billion (29% YoY increase) after experiencing a 40% increase in battery electric and hybris vehicle sales. Tesla posed a slight 0.95% YoY growth in 2024, generating $97.7 billion in revenue, but auto sales accounted for only $72.5 billion of total revenue.

ChinaAutoExportsbyCountry

Overall, China exported 5.86 million vehicles in 2024, a 19.3% annual increase. Mexico, Russia, Brazil, and the UAE were the top buyers. China sold 4.96 million passenger vehicles (19.7% YoY increase), 900,000 commercial vehicles (17.5% YoY increase), and 1.28 million new energy vehicles, as well as 987,000 battery-electric vehicles.

Japan is the world’s second-largest car exporter, exporting 4.22 million vehicles in 2024. This marked a -4.5% decline from 2023. Toyota remains Japan’s leading vehicle, accounting for $312.28 billion in revenue and 830,048 million vehicles.

Germany is holding onto third place in auto exports. In 2024, Germany exported 3.4 million passenger cars, marking a 2.5% annual increase. Around 25.9% of all vehicles exported from Germany last year were electric. Volkswagen Group remains Germany’s star, generating $354.86 billion in revenue for the year.

In February 2025, China’s autos accounted for 27.5% of total auto sales globally. Now, these cars are not only cheaper than what other nations like Germany or the US can produce but also more technically advanced. Governments have been placing levies in China’s auto sector for the past few years, as there is a belief China has an unfair advantage. Chinese companies are not separate from the government.

The CCP has been injecting tons of capital into private companies to expand rapidly and undercut competitors’ prices. These companies also have reduced risk as they have the government’s backing. Labor costs are far cheaper in China, and the nation does not need to export vehicle parts for production. Overall, China has been able to rapidly infiltrate the global auto markets and become the global leader.

Apr 9 2025

Zero-for-Zero Tariffs? EU Votes Today


Posted originally on Apr 9, 2025 by Martin Armstrong 

European Union leader Ursula von der Leyen has proposed a zero-for-zero-tariff deal with the United States after the EU was hit with a 25% tariff on steel and aluminum, followed by another 20% levy. The 27-nation bloc will be unable to agree on this proposal, especially since Donald Trump declared that a zero-for-zero deal is not sufficient.

“We stand ready to negotiate with the United States. Indeed, we have offered zero-for-zero tariffs for industrial goods, as we have successfully done with many other trading partners, because Europe is always ready for a good deal,” Von der Leyen said on Monday. Dutch Trade Minister Reinette Klever agreed with Von der Leyen, saying that the best way to respond is to remain calm and de-escalate the situation.

Others, of course, France, disagree and want to begin retaliatory measures. “We cannot exclude any options on goods or services and, however we approach it, open the box to the European tool, which is very comprehensive and which can be extremely aggressive,” French Trade Minister Laurent Saint-Martin said. French President Macron, a longtime personal foe of Donald Trump, insists that the EU should abandon all investment in the US, unaware that such a move would hurt the region. Macron will likely take a trade agreement as a personal defeat.

Trump is willing to negotiate but said a zero-for-zero trade deal is insufficient. “We have a deficit with the European Union of $350 billion and it’s gonna disappear fast,” Trump declared. “One of the ways that that can disappear easily and quickly is they’re gonna have to buy our energy from us … they can buy it, we can knock off $350 billion in one week. They have to buy and commit to buy a like amount of energy.” Von der Leyden was somewhat receptive and said the bloc would consider purchasing American liquefied natural gas.

The European Union desperately needs a new energy exporter after the remaining flow of oil from Russia was cut off by Ukrainian President Zelensky. The bloc will vote on its next move today, but as we recently heard from incoming German Chancellor Friedrich Merz, the EU is prepared to abandon any remaining fragments of democracy to ensure Brussels has the final say.

Every issue that the European Union faces is a reminder that a centralized one-European government cannot function. It was doomed from the start, as I have explained in depth on this blog. Each nation has its independent needs, and Brussels utterly disregards those needs if it does not meet its agenda.

Certain Eastern European nations were far more reliant on Russian energy, and yet, Brussels sided with Ukraine to prevent them from accessing that crucial resource. I believe it will become more apparent as time goes on that individual nations have no voice in the European Union, but they will not realize the authority they surrendered until their individual economies turn down and Brussels shows its true disdain for member nations.

Apr 9 2025

China Vows to “Fight to the End” in Economic War with America


Posted originally on CTH on April 9, 2025 | Sundance 

Full dragon, no panda mask.  Beijing begins using war terminology to discuss the trade conflict with the United States.

Through a series of cumulative trade tariffs, President Trump has now placed Chinese imports into the USA in a position of 104% tariffs.

104%!

In response Beijing has devalued their currency and dumped treasuries, but no amount of subsidy, devaluation or use of their sovereign wealth fund is going to compensate for 104% taxes on Chinese products.  Very soon all purchase orders from the USA for Chinese manufactured products will stop.

The Beijing dragon is looking at the future through a zero-sum position.  Now, they vow to fight to the death.

BEIJING, April 9 (Xinhua) — With firm will and abundant means, China will resolutely take countermeasures and fight till the end if the United States insists on further escalating economic and trade restrictive measures, China’s Ministry of Commerce said Wednesday.

“I want to emphasize that there is no winner in a trade war, and China does not want a trade war, but the Chinese government will by no means sit by when the legitimate rights and interests of its people are being hurt and deprived,” said an official with the ministry.

The official made the remarks when responding to media questions regarding a white paper released Wednesday by the State Council Information Office on China’s position on some issues concerning China-U.S. economic and trade relations.

Noting that the successes of China and the United States are opportunities rather than threats for each other, the official said that China hopes the United States will immediately remove its unilateral imposition of tariffs, and work with China to strengthen dialogue, manage differences, and promote cooperation.

China is willing to communicate with the U.S. side on key bilateral economic and trade issues, address their respective concerns through dialogue and consultations on an equal footing, and jointly advance the steady, healthy and sustainable development of China-U.S. economic and trade relations, the official noted. (more)

Apr 9 2025

Treasury Secretary Scott Bessent Provides More Details on Global Trade Reset Strategy


Posted originally on CTH on April 9, 2025 | Sundance

Appearing 4/8/25 on CNBC, Treasury Secretary Scott Bessent outlined some of the specifics within the negotiation strategy of President Trump as it pertains to the ongoing global trade reset.

Bessent notes at the request of President Trump, all administration officials were to pull back from commentary following the “liberation day” tariff announcement.  The objective was to give all nations’ time to absorb the impact while reducing the reverberation noise.

After a few days, President Trump then began to assess the inbound communication from various country leaders and their request for renegotiation.  The priority schedule permits the honest trade allies to come first in the que to the office of U.S. Trade Representative Jamison Greer, as approved by President Trump.

Japan and South Korean delegations and trade representatives will be the first trade teams engaged; not coincidently both of those ASEAN nations have pre-positioned manufacturing investment in the USA, the truest measure of a trade partnership.  The outcome of these first agreements will form the baseline for every nation thereafter.

Both Japan and South Korea have North American manufacturing systems in place; however, it is likely more investment in U.S jobs and products being created in mainland USA will remain a top priority.  Additionally, for these nations the largest element of their “reciprocity” will come from a commitment to reduce the trade deficit with better terms and bigger contracts for U.S. product imports.

Apr 9 2025

President Trump Delivers Remarks During the National Republican Congressional Committee Dinner


Posted originally on CTH on April 9, 2025 | Sundance

President Donald Trump attended the National Republican Congressional Committee (NRCC) dinner in Washington DC.

The main topic of President Trump’s remarks is the global trade reset, which includes a cumulative 104% tariff on China, as Beijing attempts to devalue currency and retain economic status.  President Trump is in full wolverine mode on the issue of trade.  There is no other issue that commands this level of intensity and deliberate effort.

MAGAnomics, American Main Street and economic security as national security priority, is the core issue to define President Trump’s doctrine. He is bringing the thunder, which we have referenced as “The Big Ugly.”  WATCH:

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Apr 9 2025

President Trump Holds Oval Office Executive Order Presser -3:00pm ET Livestream


Posted originally on CTH on April 8, 2025 | Sundance

President Trump is scheduled to hold a media availability at 3:00pm along with an executive order signing on energy development in the oval office.

UPDATE: Video Added

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Livestream Links Below:

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Apr 9 2025

U.S. Supreme Court Begins Dismantling Federal Judge “Temporary Restraining Orders” Against Constitutional Executive Branch Action


Posted originally on CTH on April 8, 2025 | Sundance

Many pundits and apoplectic Lawfare leftists are noting a set of four recent Supreme Court rulings favorable to the Trump administration.

The most recent ruling [pdf here] said nonprofit groups lacked legal standing to bring lawsuits challenging the firings of probationary workers at the departments of Defense, Treasury, Energy, Interior, Agriculture and Veterans Affairs.  As a consequence, the accompanying Temporary Restraining Order (TRO) is defeated.

Yesterday, the Supreme Court also ruled -generally favorable- to the Trump administration [pdf here] on the issue of Venezuelans in the United States labeled by President Donald Trump as “alien enemies.”  The justices ruled (5-4) to vacate a lower judge’s order that imposed a block on all deportations under Trump’s invocation of the Alien Enemies Act.

However, the court ruled to remove the TRO under auspices of the wrong venue for challenge; saying the deportees must challenge their status in the district court where jurisdiction of detainment takes place.

That split court ruling follows on the heels of Chief Justice John Roberts issuing an administrative order indefinitely lifting a lower court injunction [pdf here] that demanded the return of previously deported Abrego Garcia set by U.S. District Judge Paula Xinis.

In short, the Supreme Court, at least a narrow majority therein, appears to be knocking down the process of federal judge shopping to issue nationwide restraining orders against the Trump administration.  Twitter account Unseen1 has a solid and brief outline of what the court appears to be doing:

“The big win for Trump in the scotus today was not the resumption of deportations under the AEA (alien enemies act) (but that was big also). The major win was the court narrowing the federal district judges’ jurisdiction They once again narrowed the ability of the APA (administrative procedure act) which is the main law the vast majority of these unconditional judicial rulings have been made under.

The left is using the APA like Macgyver used bubble gum to get them out of sticky situations. Without the APA, they can’t judge shop as much. They can’t make class action lawsuits that have national injunctions attached.

In short, the scotus with this order, along with the one last week, is narrowing the use of the APA to reign in the lower federal district courts. There are already judicial remedies for almost all of these cases that do not involve a hand-picked federal district court needing to issue a national injunction or TRO.

Grants and contracts should be brought in federal claims court.

Immigration issues should be brought as habeas cases, and most can be held in front of immigration judges.

Government firings should be brought in front of the merit systems protection board.

The left doesn’t want to follow proper procedures for a host of reasons, like added costs, unfriendly judges could set precedent, extra work, time, etc. So, they invented the APA macgyver option. Hence, about 50 TROs/injunctions later, the scotus is smacking this practice down and telling them that this effort will not result in favorable opinions for them.

In short, the scotus is telling the federal district courts not to draw outside the lines regardless of the merits of the case because they will be denied on jurisdiction grounds if they reach the high court.” [link]

However, as noted by The American Thinker: {…} “The real problem is that the Supreme Court emphasized that every person named as an “alien enemy” under the AEA is entitled to judicial review. This is insane because it means that the judiciary will, once again, take unto itself the power to control foreign policy.

While this standard currently applies to the 18-20 million ordinary illegals that Biden let in (something no legislator or judge ever contemplated when immigration laws were passed or reviewed), it cannot possibly apply to the AEA, which is a question of foreign policy solely under the executive’s purview. (Sadly, though, Bondi’s DOJ actually gave the Supremes this opening, so part of the responsibility for this ludicrous holding is on her.) (more)

Apr 9 2025

#75 Attorney General Pam Bondi on Fox


Posted originally on CTH on April 8, 2025 | Sundance

Attorney General Pam Bondi makes her 75th appearance on Fox News this year to discuss the recent Supreme Court ruling generally supporting President Trump’s deportation policy.  WATCH:

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Performative.  Oh, and Boasberg did cancel the 3:00pm hearing.

Apr 9 2025

President Trump Bestows Great Honor on Nation of Japan


Posted originally on CTH on April 8, 2025 | Sundance

The decades long relationship between former Japanese Prime Minister Shinzo Abe and President Donald Trump permeates through a recent announcement that Japan will be the first nation to enter the new era of trade negotiations with the United States.

Shinzo Abe was assassinated in July 2022, as he traveled throughout Japan gaining support for increased national military development.  As businessmen and later politicians Donald Trump and Shinzo Abe (RIP) had a decades long friendship grounded in mutual respect and competition.

[SOURCE]

To understand the dynamic of President Trump giving the nation of Japan the position as the first nation to enter new trade negotiations, a high honor, is to understand the business relationship between the U.S and Japan in the post-World War II (40 yr) period between 1950 and 1990.  The formative years for both Japanese industry and President Trump’s business empire.

Following World War II the United States agreed to help both Europe and Japan rebuild from the devastation of war.  However, two entirely different industrial economic models were used.

For Europe the U.S. gave them money through the Marshall Plan, a process of one-way tariffs which helped them rebuild their nations.  For Japan we gave them W Edwards Demming, an industrial engineer and extraordinarily brilliant mind in the processes of efficiency and industrial production.

In essence, to generate the reindustrialization of both economies, we gave the EU a fish (money), but we taught Japan how to fish; how to be create and build exceptional industry.

In the decades that followed, the EU rebuilt their capitalistic industrial base from the trade and tariff money we permitted them to exploit.  The EU rebuilt from their historic systems, upgrading to newer industrial technology.  Japan, however, learned deeper more technical skills from the Demming process of industrial capacity building, a critically strong excellence in quality manufacturing and attention to specific details in all processes.

It did not take long before the results of quality in design and Japanese manufacturing surfaced in the sector of automobiles, and later consumer electronics.  The U.S. auto industry was slow to adapt to the Japanese quality focus and began losing market share to Toyota, Datsun, Nissan and Honda.

Throughout this period, President Trump and Shinzo Abe were on opposite sides of the industrial competition.  Trump railing about Japan, and later aggregate Asia exploiting our generosity; Abe smiling and joking with his friend that despite Trump’s grievances, tomorrow Eric will be purchasing 1,500 Sony televisions for his next Hotel.

And so it went….

The friendship grew, the competition was intense but incredibly respectful, and both Shinzo Abe and Donald Trump became men of great influence whose partnership in competition was always visible.

Prime Minister Abe knew what President Trump was trying to achieve.  In turn, President Trump knew Abe would remain a fierce Japan-first trade competitor to the America-first program.  Tremendous respect and mutual admiration underpinned their geopolitical efforts.

No single picture better exemplified the nature of Trump and Abe as the G7 summit picture taken in Canada as the ripple effects of Trump’s first-term trade and tariff program against China (mostly) started to hit the global economy.

As China started to feel the pressure from President Trump forming new ASEAN partnerships, China started pulling back from ordering heavy industrial goods from Europe. The EU, specifically the German economy, felt the lessening of Chinese manufacturing via diminished orders.  However, a respectful Japan positioned their trade agreements for benefit, but also for benefit of American workers.

Prime Minister Shinzo Abe knew there was nothing to fear from President Trump’s global trade reset.  Unless, that is, you were a nation taking unfair advantage of the generosity provided by America.

It makes total sense in the big picture for President Trump to honor the legacy of Shinzo Abe, and the respectful connections to Japan by granting them the first position in the schedule of the global trade reset.

Total sense.

Apr 8 2025

“I’m Still Waiting For Prosecutions.” Fitton On FBI Employee Behind J6 Targeting Receiving Promotion


Posted originally on Rumble By Bannon’s War Room on: Apr 7, 2025, at 1:00 pm EST