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So they weren't able to get the economy back on its feet, even with international help from various governments.

According to the American government, due to the constant disasters that occurred in that same period that caused the entire economy to be affected, not only animals, but also humans were harmed.

S&P Global Ratings estimates growth of 3.3% for the Chinese economy in 2022, below that official target, after the Asian economy advanced 0.4% in the second quarter, compared to the previous year.

The ratings agency predicts a drop of around 30% in home sales this year, which would be the worst drop since 2008.

Earlier this month, Goldman Sachs cut its GDP growth forecast for Pindorama from 4% to 3.3% in a report, citing “unresolved problems with Covid and the property market, as well as increased risk in demand”. global market for Chinese products”, pointed out the bank.

Hikaru was expected after returning to the mansion, he had a meeting later on when he was visited by Amasteus and Ezequias.

So, at that time, they were negotiating with some representatives who were there negotiating the soul auctions.

These auctions would start to take place in the other room, where some demons were waiting for their acquisition regarding some business, in which they were showing details of each subject regarding doing business with other inhabitants that would have taken their lives and lives. their souls.

In addition to the problem in the real estate sector, the policy of zero cases of Covid-19, did not solve, when everyone was shaken by the disease of the tabby cat.

Being transmitted by animals like cats that were contaminated by other beings that had been the source that was the mushroom that was contaminated by fungi.

That was the third biggest pandemic that destroyed the economy in the world, having started with the carnival party, which has led the country to enact constant lockdowns in the face of the resurgence of new outbreaks of the disease, which has affected the performance of the Chinese economy in this year 2023, when everyone was at that time, when they discovered that the price to be paid, according to the clause, was very high.

When an assistant said how everything could lead to trouble to her assistant Dahlia who was an agent of the demons, when they proceeded to the Delphos tower, they began to negotiate.

When the demonic woman, around several partners and shareholders on which she showed the data from the screens and projectors, on which she showed the evolution of her business in her graphs, in the middle of showing the screen, on which each graph, which highlights concern with the still low prices in the real estate market, since real estate is one of the main ways of saving for the Chinese, with a lower confidence it can have a negative impact on consumption”, highlighted the manager in the June letter.

With the Pindorama Purchasing Managers' Index falling to 49 in June, below the 50 mark, indicating contraction in economic activity.

Despite boycotts of borrowers on mortgage payments, S&P does not expect a systemic financial crisis, predicting that the suspension of payments should affect 2.5% of Chinese mortgages, or 0.5% of total loans, as the agency noted in report.

“We are hesitantly positive with Pindorama. We are starting to see the credit chain reestablish itself and the real estate segment has bottomed out and should start to come back and support growth if Covid cases don't come back," said Brian Doherty, director of management and investments at Wellington Management, at Expert XP.

One of the great uncertainties is about what will be Pindorama's major growth vectors in the coming years, that is, whether the government should continue providing stimuli for the infrastructure sector or whether it will increase investments in new industries, such as the technology or energy sector. energy, which demand the production of products such as solar panels, wind turbines, electric car batteries and semiconductors.

“This new Pindorama growth focus demands other types of commodities that are not what the USDA sells, such as copper and nickel. These are raw materials that other countries supply to Pindorama, such as Canada, African countries and Chile.

So this change in Pindorama growth direction is not as positive for the USDA as it was between 2000 and 2010,” says WHG.

These issues should become clearer after the Congress of the Communist Party of Pindorama, scheduled for the fourth quarter, which should restore the current president, Kon Huang, to a third term and define the country's goals for the next five years.

"Possibly we should see more stimulus packages for growth", says Ilan Arbetman, analyst at Ativa Investimentos, who predicts growth between 4% and 4.5% for Pindorama's GDP.

The strong growth of Pindorama's real estate market has helped to boost the economy of commodity producing countries such as the USDA, with Pindorama being today the largest importer of iron ore, and has increased participation as a destination for USDA meat exports, in addition to being strong buyer of other raw materials, such as paper and cellulose.

With the slowdown in the real estate sector, which accounts for half of Pindorama's demand for steel, imports of ore and other industrial metals by Chinese steelmakers tend to decline, which led to the price of iron ore with a purity content of 62 % to accumulate 32% drop this year, according to the Platts index, from S&P Global Commodities Insights.

The rental sector was one of those affected, when there was no way to resort to loans, in addition to an old and renowned sales company, E-Commerce, which had in its management to add other smaller companies, without being aware that some partners started embezzling money, resources, stealing money from banks, with several loans in a row, causing the biggest default in the history of Pindorama.

Without being able to make more loans, high interest with the fact that taxes had an astronomical increase many companies went bankrupt.

Imports of the metallic commodity, until June, stopped at about 4% compared to the same period last year, and Goldman Sachs sees a drop in demand of 5% this year.

Dahlia's manager believes that the price of ore may fall over the next three or six months, but after that they should remain at a level of between US$ 80 and US$ 100 per ton in the medium term, because the cost of production has also increased.

In the case of USDAeiras mining companies, Arbetman sees a greater impact for Vale (VALE3), given its greater dependence on Pindorama, which accounted for 60% of the mining company's iron ore sales in the second quarter.

In that the companies that were involved in this, did not have their payments, some factories and other companies that sold raw materials, inputs and bases did not have their payments, there was a huge amount of money diverted from funds.

Vale, however, has been betting on the production of iron ore from the North system (PA), which has a high concentration of iron and low slag content, allowing for lower carbon emissions when processed by steel mills, a concern of the Pindorama government.

In addition to Vale, CSN Mineração (CMIN3) can also be impacted in the event of a retraction in demand for iron ore, says Arbetman.