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The Chinese economy is still struggling to recover from a pandemic



Hong Kong's trading relationship with US at risk

Exports in the world’s second-largest economy last month fell 3.3% in US dollars compared to last year, customs data released this weekend showed, reversing a 3.5% increase in April.

Analysts link the decline in weak demand abroad: While China began to reopen its economy a few months ago, many other global powers have only just begun to lift some locking steps in recent weeks.

Recovery at home has not been completely smooth for China. Last month’s imports plummeted 16.7% in US dollars from a year ago – the deepest contraction since January 2016 – indicating domestic demand remains sluggish.

“Import data points to a weaker domestic economic trajectory at the opening than feared, even as China begins to increase infrastructure spending,” Mitul Kotecha, senior emerging market strategist at TD Securities wrote in a research note Monday.

China – which is struggling with a slowing economy even before the virus attacks – has been trying to get out of the slump. The country promised last month to throw 3.6 trillion yuan ($ 500 billion) its economy this year in tax cuts, infrastructure projects and other stimulus measures as part of efforts to create 9 million jobs and blunt the impact of the pandemic.

And there are at least a few signs of recovering demand, driven by generous giving of cash. Passenger car sales rose in May for the first time in 11 months, according to data released Monday by the Chinese Passenger Car Association. The country sold 1.6 million new passenger cars last month, up 1.8% from last year.

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But trade is still a sensitive point for China, which manages increased tensions with the United States. Blaming each other for the pandemic has upset relations between the world’s major economic superpowers, which could jeopardize their fragile trade ceasefire.

Data for May showed a record trade surplus of $ 62.9 billion, according to Koecha of TD Securities. President Donald Trump has often criticized China for running a large trade surplus with the United States.

However, economists at Capital Economics predict China’s exports will continue to weaken in the short term, before stabilizing at the end of this year.

They wrote in a research note Monday that they expect a contraction in global growth “to come out of this quarter,” laying the groundwork under exports through the return half of 2020.

Capital Economics economists also hoped that China’s stimulus measures should “encourage a strong import recovery.”

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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