Economics: China Soft Landing

(Drivebycuriosity) - There is a lot talk about a coming crash in China but the newest data from the economic front show that China`s economy is managing the soft landing. This night we learned that China`s retail sales grew 8.2% in December, faster than in November (plus 8.1% economics). We also heard that China`s industrial production rose 5.7% in December after gaining 5.4% in November.

(tradingeconomics )


The data suggest that the slowdown is already slowing. They also show that China´s economy is increasingly driven by consumer spending (like the US economy). Until recently China`s economy was based on manufacturing and exports to the rest of the world. But the huge country is growing up and  is changing from an industrial country - which relies on exports - into a modern economy like the US which is dominated by services and focuses mostly on the domestic market. For years imports & retail sales have been growing faster than exports & industrial production. Therefore a growing part of the national production is consumed in China, which reduces the country´s dependence from global markets.

The retail sales are a part of the services sector which accounts for more than half of the Chinese economy and is therefore more important than manufacturing (like in the US). Last night`s consumer data confirm the Purchasing Manager Indices for the service sector ((Non-Manufacturing PMI ) published at begin of the month, which signaled an accelerating growth in the Chinese service sector (driveby). Forget the China crash calls.

Books: Christine Falls. A Novel By Benjamin Black

 

(Drivebycuriosity) - I just finished reading "Christine Falls. A Novel" by Benjamin Black (amazon). The book is set in Dublin in the 1950s. Quirke, a pathologist who works in a morgue, develops interest in Christine Falls, one of his corpses. He believes that something is not right and starts a personal investigation, even though this isn`t his business. Quirke gets obsessed with Christine´s case and explores stubbornly, without regard for the consequences (this is a spoiler free blog).

"Christine" is a very Irish story (if you read this book you will see what I mean). I don`t think the plot would function in a non-Irish social environment. The novel, told in at least 3 parallel running but combined plots, is sinister, spiced with bloody violence, murder & evil. The leading characters are well described and I cared about them. Quirke is not only confronted with a hostile environment, he is also haunted by his own past. But the strength of the book is Black`s style, he really can write. I loved the metaphors and descriptions which make the book an exciting piece of literature. 

Benjamin Black is the pen name of the Irish writer John Banville. I loved his novels "Kepler" and "Wolf on a String" (here my reviews Kepler & wolf ) and enjoyed "Christine" too, which is the start of a Quirke series. I am looking forward to read more Quirke books.

Contemporary Art: Epic Abstraction @ Metropolitan Museum Of Art New York

 

(Drivebycuriosity) - New York`s Metropolitan Museum of Art is always worth a visit. The huge museum has a vast collection of art works and offers a lot temporary exhibitions. This week my wife and I took a look into their show " Epic Abstraction". They display icons of abstract art, which revolutionized the art world and are still influencing many artists (metmuseum). Some of them are really huge and impressive.

I love the "trip paintings" by Jackson Pollock. They look still wild & chaotic, maybe they are representing the Big Bang?

Above you can see his "Pasiphaë" from 1943 (Oil on canvas; 56-1/8 x 96 x 1-1/2 in. (142.6 x 243.8 x 3.8 cm). The curators explain Pollock"developed this novel interpretation of the Surrealist technique of automatism (which taps the artist’s unconscious to compose the image) by creating dozens of colored drawings, a selection of which is on view nearby. Amid the chaos are barely discernible sentinel-like forms on both sides of a prostrate figure in the center. Pollock originally called this painting Moby Dick, but he retitled it after hearing the story of the Cretan princess Pasiphaë, who gave birth to the half-man, half-bull Minotaur."

Above  Pollock`s "Number 7" created 1952 (Enamel and oil on canvas; 53 1/4 x 40 in. (134.9 x 101.6 cm)

Pollock`s majestic "Autumn Rhythm (Number 30)" from 1950 (Enamel on canvas; 105 x 207 in. (266.7 x 525.8 cm) .

Above Pollock`s "Number 28, 1950" (Enamel on canvas, 68-1/8 x 105 x 1-1/2 in. (173 x 266.7 x 3.8 cm).



                                               Invitation To Meditate

Mark Rothko`s paintings are an invitation to meditate. Above his  "No. 13 (White, Red on Yellow)" from 1958  (Oil and acrylic with powdered pigments on canvas; 95-1/4 × 81-3/8 x 1-3/8 in. (241.9 × 206.7 x 3.5 cm).

The woman above is enjoying "La Vie en Rose" by Joan Mitchell from 1979 ( Oil on canvas) .

This woman is admiring “1950-E” by Clyfford Still from 1950 ( Oil on canvas; 91 1/4 x 69 in. (231.8 x 175.3 cm).

Above "Easter Monday" by Willem de Kooning created 1955–56 (Oil and newspaper transfer on canvas; 96 x 74 in. (243.8 x 188 cm).

Above the impressive "Duck Walk" by Mark Bradford from 2016 (Mixed media on canvas; 9 ft. 1/4 in. × 14 ft. 1/2 in. (275 × 428 cm).

Above “Night Journey” by Frank Bowling created 1969–70 (Acrylic on canvas;  H. 83 3/4 x W. 72 1/8 in. (212.7 x 183.2 cm).

Above "New York #2" by  Hedda Sterne from  1953
( Oil on canvas;  :78 × 34-1/8 x 1 in. (198.1 × 86.7 x 2.5 cm).

This woman is looking on "Dutch Interior" by Cy Twombly, created 1962 (Wax crayon, lead pencil, oil on canvas; 8 ft. 9 1/8 in. × 9 ft. 10 7/8 in. × 1 3/16 in. (267 × 302 × 3 cm).

To be continued

Traveling: Impressions From Aruba - Sand, Water & Coconut Palms

(Drivebycuriosity) - My wife and I are just back from Aruba, where we stayed 7 nights. Aruba is a small island in the Caribbean Sea close to the coast of Venezuela. Like the sister island Curacao (which we visited last year, here my report ), the island is a former Dutch colony. Today both islands are independent countries but still connected with the Netherlands, which supports them financially. Therefore Aruba & Curacao are more European & wealthier than other Caribbean islands.

 

There is not much to do.  Staying there means enjoying sand, water & coconut palms. The island has a big advantage: The superb weather. Like Curacao - and the Colombian beach town Cartagena (we stayed there in 2017) the island has almost a desert climate, resembling Southern California. Temperatures hovered close to 80 F (26 C) and there was no rain and few clouds. The humidity is low which separates these places from the typically humid Caribbean islands. As a result there is no tropical lush vegetation,  but the hotels planted myriads of coconut palms and other plants along the beach.

 

We stayed at Palm Beach, a long stripe of very white & smooth sand, where you could walk miles south or north. There is no surf and the water is very shallow. Even after walking about 30 feet into the water I could still stand on a muddy ground covered with grass. Because of the shallowness the waves are stirring up the ground and the water looks milky and is almost opaque. Even though I swam and dove with goggles I didn`t spot any fish there - disappointing - and not many frigatebirds, sea gulls and other birds who live from fishing. But the beach had some stray dogs.

There was a rope along the beach which separates the swimming region from the outer area which was used by speed boats and such. It looked a bit like a highway. 

Palm Beach is flanked by dozens of hotels stretching from budget place to upmarket locations including Marriott & Ritz Carlton. These tourist factories accommodate masses of guests.

The dry climate and a mostly cloudless sky allows spotting gorgeous sunsets.

I enjoyed how the colors changed after sunset .

Unfortunately the beach was very crowded and the shady huts - which we could rent for about $60 a day - stood side by side. But I got somewhat compensated by nice views.

There were a lot beach bars of course.

The lack of seabirds got somewhat compensated by the funny & colorful troupias - also the national birds of Venezuela - who where preying on the fast food rests or where attracted by the bar. Alcoholism everywhere.


                                                      Legal Immigrants 

 

The hotel has also a pool with iguanas & turtles plus some legal immigrants: Myriads of Japanese Kois & two Australian black swans.

The beach area has also myriads of restaurants catering the masses. We found 2 fine places: Elements Restaurant at Bucuti & Tara Beach Resort and Atardi, which belongs to Marriott. Both are on the beach and Atardi puts the tables onto the sand. A very romantic place with excellent food, but prices like in Manhattan.

Our Aruba vacation was fun and a nice escape from New York`s winter weather.