Gregoris Savva

Weekend cyclist. Searching for something...

[Gregoris Savva @Gregosav]

"China's economy has further increased its already-excessive dependence on surging debt and soaring trade surpluses to keep GDP growth from slowing."

[Michael Pettis @michaelxpettis]

It is harder than ever to find good news in China's data release today. The economy continues to be structurally locked into increasing production at the expense of consumption, even though China suffers from many years of growing excess capacity.

China's industrial output, for example, increased by 5.4% year on year in the first five months of 2026, with a 4.5% year on year increase in the month of May. This was a little higher than April’s 4.1% increase, although lower than the 5.7% increase in March.

The uglier numbers were (as always) on the consumption side. For the first five months of 2026, total retail sales grew 2.8%, just over half the pace of industrial output. Although they were barely expected to grow in May, in fact they actually fell by 0.6%, well below the disappointing 0.2% increase in April and the first decline since the end of the Covid lockdown in 2022.

For all the excited claims about consumption spending during the important May holiday, in other words, it was more than offset by the decline in spending over the rest of the month, proving, once again, that what limits household consumption is the household budget, not spending opportunities.

Meanwhile China's fixed-asset investment declined 4.1% year on year in the first five months of 2026.

Last week's trade and debt numbers reinforce the claim that China is finding it harder than ever to restructure its economy. It is expending huge resources in growing output, especially manufacturing output, but Chinese producers rely more than ever on soaring exports to offset weak domestic demand.

So far this year's numbers show that China's economy has further increased its already-excessive dependence on surging debt and soaring trade surpluses to keep GDP growth from slowing. It is not clear how much longer this growth model can be sustained before China is forced into a very difficult economic adjustment, but it is almost impossible for China to exit this model without a sharp slowdown in near-term growth, which is why, for all its promises, Beijing has been unable to adjust.

The problem, of course, is that as long as this process continues, it will increase the final adjustment costs for the Chinese economy and will further undermine manufacturing in the rest of the world.
https://t.co/N6uiKiTPUy

[Gregoris Savva @Gregosav]

Ιστορικόν

[The Spectator Index @spectatorindex]

BREAKING: 🇯🇵 Bank of Japan raises interest rate to 1%, the highest since 1995.

[Gregoris Savva @Gregosav]

@DaNickstah @atziapissou @Maskoforos3 Μείνε

[JohannesBorgen @jeuasommenulle]

German banks, they never disapoint.

"A small German cooperative bank, Bankhaus RSA, has received a lifeline worth €112M"
"Bankhaus has an NPL ratio of 36%"
"The bank's members are slated to vote on an emergency merger with Meine Volksbank Raiffeisenbank."

Shrimp farms, maybe?

[Gregoris Savva @Gregosav]

@DaNickstah @atziapissou @Maskoforos3 Προλαβαίνεις. Εκτός κι' αν πας με 🚴‍♂️ οπόταν δεν σε χαλά 👌

[Gregoris Savva @Gregosav]

@atziapissou @DaNickstah @Maskoforos3 ...και έθεσε την σπορά του επόμενου πολέμου αφού ενδυνάμωσε το Ιράν πολιτικά και ηθικά στην περιοχή. Το Ιράν θα συνεχίζει να εξοπλίζει τους τρομκ Χαμάς, Χεζπολλά, Χούθι και να εξοπλίζεται το ίδιο για το επόμενο showdown 🤷🏻‍♂️

[Gregoris Savva @Gregosav]

@SoterisF @michaliscler Λεμεσιανοποιήθηκες 🤷🏻‍♂️

[Arya Yadeghaar (Backup) @AryJeayBackup]

Mehr News has released a short version of the 14-clauses of the MoU that will be signed on Friday, between Iran & US.

1. The permanent and immediate halt of war on all fronts, including Lebanon.

2. A U.S. commitment not to interfere in Iran’s internal affairs and to respect the sovereignty of the Islamic Republic of Iran.

3. The complete lifting of the naval blockade within 30 days.

4. A U.S. commitment to withdraw its forces from the areas surrounding Iran.

5. The reopening of the Strait of Hormuz within 30 days under Iranian “arrangements”.

6. The suspension of oil sanctions, petrochemical products and derivatives, and Iran’s full access to the financial proceeds from them.

7. The requirement for the US & its allies to present reconstruction plans for Iran worth at least $300 billion.

8. Sixty days of negotiations to reach a final agreement based on nuclear issues and the complete lifting of primary and secondary U.S. sanctions, as well as UN Security Council resolutions and resolutions of the IAEA Board of Governors.

9. Iran’s reiteration of its commitment under the NPT not to produce nuclear weapons.

10. During the negotiation period, the U.S. has committed not to add to its forces in the region and not to impose any new sanctions.

11. The release of $24 billion of Iran’s frozen funds during the 60-day period of final negotiations. Half of this amount must be made available to Iran before the negotiations begin.

12. The formation of a supervisory mechanism to implement the agreement.

13. The final agreement will be approved through a UN Security Council resolution.

14. Final negotiations will not begin before half of Iran’s frozen funds are released, Iran’s oil sanctions are suspended, and the naval blockade is lifted. The final agreement will be limited only to the fate of enriched materials and enrichment, sanctions relief, and the program for rebuilding Iran’s economy. Discussions about Iran’s missile program and support for Resistance groups have been definitively removed from the agenda.

[Gregoris Savva @Gregosav]

@sko72 @SoterisF @michaliscler Σκο μου σεβαστή η γνώμη σου, αλλά να συγκρίνεις τον Φεδία με τον Κλάρκσον🤷🏻‍♂️

[Gregoris Savva @Gregosav]

@sko72 @SoterisF @michaliscler Αν συγκρίνεις Φειδία με Κλάρκσον πάσο🤦‍♂️

[Gregoris Savva @Gregosav]

@sko72 @SoterisF @michaliscler Αα όχι. Ο Κλάρκσον είχε επικές ατάκες: για τους μεξικάνους (προκαλώντας διπλ επεισόδιο) για τον Τζον Πρέσκοτ και για την Porsche🤷🏻‍♂️

[Gregoris Savva @Gregosav]

@SoterisF @michaliscler @sko72 Ωραίος ο Jeremy. Πάντως πασαλάκια ή μη, νομίζω στη Λεμεσό οι 🚴‍♂️ πάνε πιο γρήγορα στη δουλειά τους από τα 🚗🤷🏻‍♂️

[Gregoris Savva @Gregosav]

@sko72 εν με τέτοιο που έπιασες top speed 193 χλμ 🤔

[F.IMAZ @FIM_1972]

📸Cosas veredes, amigo Sancho, que farán fablar las piedras🧐

[Gregoris Savva @Gregosav]

@vremenos @Elenadolce6 Μάθε τέχνη κι' άστηνε🤷🏻‍♂️

[Gregoris Savva @Gregosav]

@sko72 @DaNickstah @_a_aris_ Πφφφφ

[Gregoris Savva @Gregosav]

Από μένα είναι ναι...

[sphinx @protosphinx]

Renault pls make this a production car and you’ll instantly become the coolest car maker I guarantee it

[Gregoris Savva @Gregosav]

@SexyProvataki @Chrysiaa Σωστό προβατίνα μου🫶

[Gregoris Savva @Gregosav]

Έχει ωραίους τόπους η αγαπημένη μας βραχονησίδα #Cyprus

[Καθημερινή Κύπρου @Kathimerini_Cy]

Ο πρέσβης της Ιαπωνίας στην Κύπρο που μαγεύτηκε από το νησί - https://t.co/K4HNuAj3bT

[Gregoris Savva @Gregosav]

@SexyProvataki @Chrysiaa Μια χαρά είναι. Τς τς τς😇

[Gregoris Savva @Gregosav]

@sko72 @DaNickstah @_a_aris_ Alpine me thinks

[𝙆𝙤𝙩𝙤𝙢𝙥𝙚𝙞𝙠𝙤𝙣𝙖𝙠𝙞 😎🧚 @kotompeikonaki]

Απο θαυμα ζουμε vol2563
(Τυχεροί αυτοι τη μηχανή)