U.S. Commerce Secretary Gina Raimondo Warns China ‘UnINVESTABLE’ – ‘All Time Low’ Biz Confidence – Supply Chain, U.S. Banking, More Red Flags – Facts and MHVille Analysis; plus MHMarkets Update


According to the Associated Press (AP), Commerce Secretary Gina Raimondo said on Wednesday that she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictable official behavior. Raimondo’s comments reportedly added pressure on Chinese leader Xi Jinping’s government, which is trying to revive investor interest and reverse an economic slump. AP’s Joe McDonald said: “Business groups say confidence among foreign companies is at an all-time low. Official figures show foreign investment plunged in the latest quarter.” Raimondo told reporters: “My point was U.S. business needs to see some action taken to address these issues. Otherwise, they will deem it as just too risky and, as I said, uninvestable.” Raimondo’s comments occurred at a Boeing Co. joint venture in Shanghai’s eastern district of Pudong. This is occurring amid reports by sources to MHProNews that certain manufactured housing factories have per high-level informed sources already begun the process of decoupling from China.

Per AP, Beijing broke off dialogue with Washington over military, climate, and other issues in August 2020 in retaliation for a visit to Taiwan by then-House Speaker Nancy Pelosi (D).

With that backdrop, the Daily Signal provided the following report to MHProNews, which highlighted the concerns raised in the AP report cited above. That Part I report will be followed in Part II of this article with more details on how these issues may impact MHVille and the nation more broadly. Part III is our Daily Business News on MHProNews markets and stocks snapshot and left-right headline news.

Part I


The World’s Second-Largest Economy Is Struggling

Samantha Aschieris @samantharenck / August 29, 2023

China‘s economy, the world’s second largest after America’s, is struggling months after the communist regime ended its stringent zero-COVID policy.

“China’s economic success was largely down to its size and the speed of its abundant inexpensive labor to produce,” Andrew Hale, senior policy analyst in trade policy at The Heritage Foundation, told The Daily Signal in an email. (The Daily Signal is Heritage’s multimedia news organization.)

“This rapid growth was also built on massive debt and a growing labor market,” Hale said of China’s economy.

Hale listed factors that he said “have festered and contributed to rapid Chinese economic decline,” including “a shrinking labor force” and “massive youth unemployment.”

Hale also noted that

the U.S. and other countries have restricted the transfer of technology (China has so far lost the chip war with the U.S. and sanctions have had an effect), the property market bubble has truly burst, … and the [Chinese Communist Party] has prioritized a return to hardline socialist ideology and global saber-rattling/military expansion over economic growth.

Peter St Onge, research fellow in Heritage’s Thomas A. Roe Institute for Economic Policy Studies, weighed in on why Americans should care about China’s economy.

“For the average American, the main impact is even cheaper exports (Chinese taking losses to move product) and possible contagion to the U.S. financial sector, which could put stress on U.S. banks,” St Onge told The Daily Signal in an email.

“A lot of U.S. big business is also exposed, though that’s not regular Americans’ problem beyond the impact on share prices of those China-exposed businesses,” St Onge added.

EJ Antoni, research fellow in regional economics at The Heritage Foundation, had his own take on why Americans should care about China’s struggling economy.

“China’s communist government has been preceding the Biden administration in its drastic interventions in the national economy, fueled by unprecedented levels of government spending,” Antoni told The Daily Signal in an email.

“Americans should be concerned about the outcomes in China because they are a forewarning to America,” Antoni said, specifying the Chinese Communist Party:

If we continue down this unsustainable path of ever-growing government spending, we will find ourselves in precisely the same mess the CCP has created in its own country.

Commerce Secretary Gina Raimondo is meeting with U.S. business leaders and senior Chinese officials this week in China. The trip follows earlier ones by Treasury Secretary Janet Yellen, climate czar John Kerry, and Secretary of State Antony Blinken.

Raimondo’s visit to China, which concludes Wednesday, “is, sadly, another distraction from the fact that President Joe Biden seems beholden to the [Chinese Communist Party],” Antoni said.

“Whether it’s refusing to investigate the origins of COVID, allowing for the theft of American intellectual property, or surrendering the manufacturing sector, Mr. Biden seems intent on putting the interests of the CCP before his own constituents,” Antoni said.

As for the long-term implications for both the U.S. and global economy should China’s economy continue to decline, Antoni said that “China’s decline matter less to the average American than our own economy does because our destiny is in our own hands.”

“Free-market policies are what ultimately allow wealth creation at home, regardless of what is done abroad,” the economist said. ##


Part II – Additional Information with More MHProNews Analysis and Commentary in Brief

MHProNews has been the leading source in the manufactured housing industry trade media for information on China and its impact on our industry, employees, investors, and nation.  The above should be viewed through the lens of reports like those linked below. As MHProNews noted above and previously, among the sources of insights for manufactured housing professionals is a high c-suite level insider who has told MHProNews that several manufactured housing factories have already started the process of moving their supply chains away from Communist China.  Katherine Tai, Biden-era USTR said a few weeks ago that “we still have this challenge with China,” and that “fragile supply chains” and “Globalization” are “unsustainable.”


Biden Administration USTR. Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection, you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.















‘Like No Place Else!’ in MHVille – Research-Reports-Analysis Reveal and Yield Understanding for News and Trends Keeping Manufactured Home Production at Historically Low Levels


Part III. Daily Business News on MHProNews Markets and Headline News Segment


Headlines from left-of-center CNN Business – from the evening of 8.30.2023
(Note: the headline capture for last night failed, so these are the pre-dawn headlines)

  • UBS will cut 3,000 jobs in Switzerland as it absorbs Credit Suisse
  • China is still suffering from declining factory output. Demand for services is also slowing
  • $10 billion in savings
  • A sign of Credit Suisse bank is seen behind a sign of Swiss banking UBS, in Zurich on March 18, 2023. – Switzerland’s largest bank, UBS, is in talks to buy all or part of Credit Suisse, according to a report by the Financial Times. Credit Suisse — Switzerland’s second-biggest bank — came under pressure this week as the failure of two US regional lenders rocked the sector
  • UBS targets cost cuts as it absorbs Credit Suisse
  • Gannett to take a break with artificial intelligence experiment after botched high school sports articles
  • An employee works on the production line of solar panels at a photovoltaic enterprise on August 28, 2023 in Lianyungang, Jiangsu Province of China.
  • China is still suffering from declining factory output. Demand for services is also slowing
  • SHANGHAI, CHINA – JULY 6, 2023 – Visitors look at Baidu’s “ERNIE Bot” artificial intelligence large model at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 6, 2023. On August 31, 2023, Baidu’s “ERNIE Bot” artificial intelligence large model took the lead in fully opening to the whole society.
  • Baidu and SenseTime launch ChatGPT-style AI bots to the public
  • Chinese homebuilder Country Garden warns it could default after posting $7 billion loss
  • March 12, 2023, London, United Kingdom: Mark Thompson, former director general of the BBC arrives at BBC Broadcasting House to appear on ‚ÄôSunday Morning with Laura Kuenssberg‚Äô in London.
  • CNN’s new chief faces a crucial test on several fronts that will define the network’s future
  • United Airlines workers walk past covered kiosks at the Tampa International Airport Tuesday, Aug. 29, 2023, in Tampa, Fla. The airport closed to all travel early this morning. Residents along Florida’s gulf coast are making preparations for the effects of Hurricane Idalia.
  • Hundreds of flights are canceled as Hurricane Idalia disrupts air travel
  • An American Airlines plane prepares to land at the Miami International Airport on July 20, 2023 in Miami, Florida.
  • American Airlines flight attendants vote to authorize a strike
  • NEW YORK, NEW YORK – NOVEMBER 30: Amazon CEO Andy Jassy speaks during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 in New York City. The New York Times held its first in person DealBook Summit since the start of the coronavirus (COVID-19) pandemic with speakers from the worlds of financial services, technology, consumer goods, private investment, venture capital, banking, media, public relations, policy, government, and academia.
  • Amazon CEO tells employees to return to the office or their days may be numbered
  • It’s not just crime: What’s really going on with San Francisco’s shrinking retail district
  • Google launches watermarks for AI-generated images
  • Apple expected to unveil new iPhone at ‘Wonderlust’ special event
  • US pending home sales rose in July for the second month in a row
  • The US economy grew more slowly in the second quarter than previously estimated
  • Mark Thompson named CNN chief executive and chairman at critical juncture in news network’s history
  • Warm words but little ‘real action’ as US commerce secretary ends China visit
  • Rising labor costs are making AI stocks even more attractive
  • Climate change has ravaged India’s rice stock. Now its export ban could deepen a global food crisis
  • Head of powerful real estate trade group resigns amid sexual harassment allegations
  • 3M agrees to pay $6 billion after US military said faulty earplugs led to hearing loss
  • Key San Francisco Fed official who oversaw supervision of SVB will retire
  • Hawaiian Electric says power lines started morning fire on August 8, but not afternoon Lahaina Fire
  • US financial regulators green lit new rules aimed at reducing the cost of bank failures


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In the business world, the rear-view mirror is always clearer than the windshield.” – Warren Buffett. That begs a key question. Why don’t more people LOOK at the rearview mirror more so they can learn more about the patterns that influence what’s ahead? Note: depending on your browser or device, many images in this report can be clicked to expand. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection, you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts. https://www.manufacturedhomepronews.com/in-the-business-world-the-rear-view-mirror-is-always-clearer-than-the-windshield-warren-buffett-mhville-leader-showcases-efforts-to-renew-american-dream-plus-sunday-weekly/


Headlines from right-of-center Newsmax 8.30.2023

(Note: the headline capture for last night failed, so these are the pre-dawn headlines)

  • Trump Zings ‘Terrible’ N.Y. Fraud Case in Transcript of April Testimony
  • Sitting across from Letitia James at her Manhattan office on April 13, Trump said, “You don’t have a case and you should drop this case.” Noting his contributions to the city’s skyline, Trump said “it’s a shame” that “now I have to come and justify myself to you.” [Full Story]
  • Trump Indictments
  • Bobb, Binnall: DOJ No Longer Feigning Justice
  • Sole Ga. Defendant to Spend Time in Jail Is Out on Bond
  • Clyde: Amendments Would End Trump Prosecutions | video
  • DA Willis Seeks to Expedite All 19 Cases in Georgia | video
  • Trump Co-defendant Powell Pleads Not Guilty in Ga. Case
  • Napolitano: Trump Team Needs More Time in D.C. Case | video
  • 2 Ga. Defendants Granted Hearing on Federal Court Move
  • Eric Bolling: They’re Using ‘Race Card’ to Stop Trump | video
  • AJC Poll: 94% See Trump Charges as ‘Political’ | video
  • Newsmax TV
  • Gov. Nuñez: No Surprise FEMA Chief Visiting Fla.
  • Mark Esper: NKorea Gets Cash Selling Russia Weapons | video
  • Palin: Dems Will Ditch Biden, Bring In ‘Savior’
  • Mast: FEMA Funding Is Being Drawn Down
  • KT McFarland: Impeachment Gives Dems ‘Excuse’ to Oust Biden | video
  • Meuser: Media Can’t Ignore Biden’s Age | video
  • Clearwater Mayor: We’re ‘Lucky’ Idalia ‘Jogged Left’ | video
  • Beth Ailes: Fox News Out of Touch | video
  • Comer: Biden Was Most ‘Corrupt’ VP in History
  • McCaul: Gold Star Families of Afghan Terror Frustrated | video
  • Newsfront
  • Idalia Causing Widespread Flooding in Coastal South Carolina
  • Tropical Storm Idalia is pushing ocean waters inland across the South Carolina coast.North Myrtle Beach, Garden City, Charleston and Edisto Island all reported ocean water topping sand dunes or walls and into beachfront streets.The tide continued to rise in Charleston…… [Full Story]
  • Related Stories
  • Hurricane Idalia Grinds Into Georgia After Slamming Florida
  • Tree Hits Fla. Gov. Mansion While First Lady, Kids Home
  • Retailers Shutter as Idalia Slams Florida, Georgia
  • DeSantis’ Warning: ‘You Loot, We Shoot’
  • 5M Bees Escape Fallen Crates on Canadian Highway
  • Drivers along the Burlington, Ontario, Guelph Line in Canada should [Full Story]
  • Report: DOJ Tells Jim Jordan Subpoenas Not Enforceable
  • The Biden administration’s Department of Justice on Tuesday night [Full Story]
  • Related
  • Biden Admin Stonewalling Buttigieg’s Jet Travel Records
  • House Probing Biden’s Alleged Misuse of Air Force Two
  • Beth Ailes: Fox News Out of Touch, Sees Ratings Drop
  • Fox News saw a ratings drop from previous Republican debates because [Full Story] | video
  • McConnell Seems to Freeze Again at Presser
  • Senate Minority Leader Mitch McConnell, R-Ky., appeared to struggle [Full Story]
  • Investors Sue Disney: Company Hid Costs
  • Disney investors are suing the company for hiding the true costs of [Full Story]
  • Related
  • Disney Stock at 9-Year Low, Anti-woke Boycott Continues
  • RFK Jr. Wants 3 Percent Govt-Backed Mortgages
  • On the campaign trail in South Carolina, Robert F. Kennedy Jr. [Full Story]
  • Ramaswamy Poll Numbers Decline After Debate
  • The 38-year-old businessman was the buzz of the recent Republican [Full Story]
  • Related
  • Trump Pollster Notes Haley ‘Surging’ in Iowa
  • Pence Gets Funding Bump Post-First Debate
  • Ramaswamy Agrees to Stop Performing Eminem’s Songs
  • Poll: Less Than Half of NY Dems Want Biden Re-Nominated
  • Charlie Kirk to DeSantis: Drop Out, Donate to Trump
  • Ramaswamy Rebuked for ‘Grand Wizard’ Comparison
  • Morning Consult Poll: Trump Up After Debate, Mug Shot
  • Viktor Orbán: Only Trump ‘Can Save the Western World’
  • Delta Flight Turbulence Injures 11
  • Atlanta emergency personnel took 11 people to a medical facility on [Full Story]
  • 2 Killed in Russia’s Largest Strike on Kyiv in Months
  • Russia’s largest air strike on Kyiv since spring killed two people [Full Story]
  • Related
  • Ukraine Downs 28 Russian Missiles, 15 Drones Launched Overnight
  • Kharkiv Builds Classrooms Underground to Protect Students
  • US Announces $250M in New Military Aid for Ukraine
  • Kyiv Targeted by ‘Most Powerful’ Aerial Attack Since Spring
  • Peter Navarro, who is facing a charge of contempt of Congress, will [Full Story]
  • ‘Mail-Order Pills’ Could Send Abortion Back to Supreme Court
  • Pro-life advocates and medical professionals are hailing a U.S. [Full Story] | Platinum Article
  • Secretary of State: Trump Can’t Be Barred in ’24
  • Arizona Democrat Secretary of State Adrian Fontes said he cannot bar [Full Story]
  • US Suffers From Missed Opportunities in Foreign Military Sale
  • Though the U.S. government’s sale of arms and equipment to foreign [Full Story] | Platinum Article
  • Trump: Murdoch a ‘Globalist’ Trying to Tear Me Down
  • Former President Donald Trump came out swinging at Rupert Murdoch on [Full Story]
  • NKorea: Conducted Tactical Nuclear Strike Drill
  • North Korea said on Thursday it has conducted a tactical nuclear [Full Story]
  • Virginia Gov. Youngkin: GOP Must Embrace Early Voting
  • Virginia Gov. Glenn Youngkin, a Republican, urged leaders and [Full Story]
  • Poll: Anglican Priests OK With Premarital, Gay Sex
  • A majority of priests in the Church of England say the church should [Full Story]
  • Biden Welcomes GOP Probe of Maui Fire Response
  • In a marked display of bipartisanship, President Biden expressed his [Full Story]
  • State Department to US Citizens: Leave Haiti Now
  • The State Department again has issued a security alert urging U.S. [Full Story]
  • Justice Thomas’ Former Law Clerks Defend Him
  • Supreme Court Justice Clarence Thomas, under fire by Democratic [Full Story]
  • FDA: More Contaminated Eyedrops Recalled
  • The U.S. Food and Drug Administration announced Saturday that a New [Full Story]
  • Pence: Halt Funds for Gender Surgeries, Trans Lessons
  • On Tuesday, former Vice President Mike Pence vowed to implement [Full Story]
  • DOJ, SEC Probe Tesla Over Secret Project for Musk
  • Federal prosecutors are investigating Tesla’s use of company funds on [Full Story]
  • Bankman-Fried FTX Fraud Trial Could Be Delayed
  • A U.S. judge said on Wednesday he would consider delaying Sam [Full Story]
  • Jordan Subpoenas Hate Speech Watchdog
  • House Judiciary Committee Chairman Jim Jordan, R-Ohio, on Wednesday [Full Story]
  • Ex-Cardinal McCarrick Unfit to Stand Trial in Abuse Case
  • Ex-Cardinal Theodore McCarrick’s sexual abuse case was dismissed [Full Story]
  • AOC Considers Leaving Social Media Platform X
  • Progressive Rep. Alexandria Ocasio-Cortez, D-N.Y., saidElon Musk’s [Full Story]
  • Hurricane Idalia Unleashes Fury on Florida, Georgia
  • Hurricane Idalia made landfall Wednesday in Florida as a Category 3 [Full Story]
  • Report: Hate Crimes Rise in Most Large US Cities
  • Most of America’s10 largest cities had significant risesin hate [Full Story]
  • Fed Issues Warnings to Regional Banks
  • The Federal Reserve has issued a slew of private warnings to lenders with assets of $100 billion to $250 billion as part of increased efforts to tighten supervision, Bloomberg News reported Wednesday…. [Full Story]
  • Ex-Morgan Exec Says He Was Fired Because He’s White
  • Wall Street Chips Away at Losses for August
  • Michael Bloomberg: School Crisis Needs True Leaders
  • Apple Tests 3D Printers to Make Smartwatch Casings
  • More Finance
  • Health
  • Warning Signs Can Occur a Day Before Cardiac Arrest
  • Sudden cardiac arrest may not come on so suddenly after all. Fully 50% of people who experienced a sudden cardiac arrest had a telling symptom 24 hours before, and these symptoms are different in men than women, a new study suggests. For women, the most prominent symptom of…… [Full Story]
  • Promising New Pill Kills Cancer, Spares Healthy Cells
  • Female Surgeons Bring Better Outcomes for Patients
  • Drinking Doesn’t Make Others Seem More Attractive
  • HHS Official Calls to Lower Marijuana on Drug List

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