China’s Manufacturing Crisis

Good morning, Nerders. It’s Tuesday, August 20th. In today’s newsletter, we cover:

• China’s manufacturing crisis

• The cruise industry is picking up speed

• Amazon tests new search without customer reviews

TODAY’S STORY

Chinese manufacturers are grappling with overcapacity–the industry's production capacity exceeds the demand for its products.

As a result, thousands of Chinese manufacturers in critical domestic industries are going out of business, per The Economist.

• 52,000 EV-related industrial firms shut down in China last year

• ~11,000 chip-related firms went out of business in China last year

More trouble could be coming: In the first half of the year, about 30% of the 500,000 industrial firms surveyed by China’s National Bureau of Statistics were not profitable—the worst ever.

China is the world’s factory, accounting for 35% of global manufacturing gross production as of 2023, but they’re desperate for more orders.

DATA BYTES

• Cruise travel reached 107% of 2019 levels in 2023—with 31.7 million passengers sailing

• 27% of people who booked cruises in the past two years were first-time passengers, an increase of 12% compared to the prior two-year period

OUR PICKS

Here are today’s recs to help you live a smarter life…

1. A Fun Way To Commute!

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2. Back-to-School Essentials.

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#SHORTS

Amazon tests new search without customer reviews

@boringbusinesskieran

Amazon tests new search without customer reviews // make sure to follow me to keep up with the latest business stories and trends #business #amazon

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To read the web version of previous stories, click here

If you have any comments or feedback, just respond to this email.

Thanks for reading,
Kieran & Justin Ryan