Daily commentary-2022.5.23 {lamp/}1.Covid:China overall new covid cases no. continue to drop, while Beijing case number climbed up. Thiscaused tighter lockdown term and may cause moreeconomy decline in Beijing.2.Monkeypox:Over 50 places reported found monkeypox cases. It is not sure whether this will develope to another pendenmic as covid. But it deserve a close watch.{lamp/}3.Russia and Ukraine:Ukraine is calling for more weapon and ecomonical support. Ukraine is also calling for more sanctions on Russia.

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Daily commentary-2022.5.20 {lamp/}Covid:1.More cases found in Beijing, we expect stricter lockdown will happen here.This may extend the period of lockdown in Beijing and cause more economy losses. Previously we estimate it will cause Beijing of about 0.09 trillion RMB for about 50 days and now this number may go bigger together with longer lockdown in Beijing.2.New cases no. in China continue to decline, this is a good sign for national wide easing current lockdown.3.Outbreak of new disease, monkeypox, is deserved a clost monitor, since it is fatal desease. Lucky, it is not an air spread one. It need close touch to infect.{lamp/}Russia and Ukraine:Russia clamed success on Mariupol in Ukraine, but the cost is so high, above USD 100 billon, which is about 6% of Russian GDP. And the war cost about another USD 100 billion or 50% of GDP of Ukraine. So the cost of the war is really high.{lamp/}Food crisis:As Russia and Ukraine conflict continue, Russian and Ukraine grains are not availe and this caused thefood crisis for middle east and potential threats to whole globe.

Daily commentary-2022.5.19 {lamp/}Covid:China domestic new covid cases numbers continue to drop, this is a good sign for potential easing of lockdown.{lamp/}Russia and Ukraine:No effective progress for Russia in Ukraine, it a sign of long term conflict. All exports from Russia will be affected for long time such as 12 months.{lamp/}China economy: China economy is highly relied on government stimulusgiven weak domestic demands and weakening exports. US economy: There are signs that US domestic demands are weakening given high inflation. The only way to avoid a recession is for US government add more fiscal and monetary stimulus to economy.{lamp/}Food crisis:Some Chinese wheats were cut off before harvest for feeds for animals. Not sure how big is the scalefor this yet. It would affect the overall food production for this year for sure if the scale is big.

Daily commentary-2022.5.18 {lamp/}Covid{lamp/}Beijing is expanding lockdown area. However, overall new confirmed covid cases are declining in China. This would be a positive sginal for later easing of lockdown in China.{lamp/}Russian-Ukraine {lamp/}The direct aim of Russia fight against Ukraine is to safeguard its homeland security from NATO as well as expand its international influence. However, after 90 days of military action, Russia failed to conquer Ukraine. What make it worse is that Russia has spend for more than $10 billion on this war and lost about $100 bilion from sanctions. Having such big losses, it is really hard for Putin to backoff from the military action. So we may see long term military conflict between Russia and Ukraine.