🧀 China's raising a stink about cheese

Europe and China's trade tiff escalates, the US job market misses the mark, and a new miracle food | [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for August 22nd in 3:14 minutes.   😅 You can't really have too much good advice. So join us for [Five Tips Every Options Trader Should Know]( at 5pm on September 11th to learn about getting into the options market. [Grab your free ticket]( Today's big stories - China sniffed around Europe’s cheese exports, as tension between the two economies picked up pace - Why compound interest is the eighth wonder of the world – [Read Now]( - Revised figures showed that the US economy added a lot fewer jobs than previously believed Trading Punches [Trading Punches] What’s going on here? China is [taking]( a hard look at its imports of Europe’s cheese, as trade tensions escalate between the two economies. What does this mean? China thinks there’s something funky about the price of the bloc’s cheese, accusing Europe of exporting dairy wheels for less than they cost to make (a tactic that’s referred to as “dumping”). It’s launched a cheese probe to find out, interestingly announced just a day after the European Union said it would increase tariffs on imports of electric cars from China. That’d slap them with an additional 9% to 36% tax on top of the existing 10%. And this is just the latest in the tit-for-tat dispute between the two economic giants. Earlier this year, the EU determined that Chinese government cash injections were unfairly deflating its export prices, particularly on green machines like solar panels and wind turbines. Meanwhile, China’s been gnawing at Europe’s pork industry and taking shots at French cognac. Why should I care? Zooming out: Wave goodbye. Once an investor darling, China has seen an exodus of foreign cash as its economy struggles with a debilitating property crisis and sharply weaker consumer demand. Walmart's the latest company to get its skates on, announcing the sale of its 5% stake in online retailer JD.com – worth around $3.6 billion. Europe’s couture brands, meanwhile, have said a reluctant au revoir to Chinese customers as they’ve tightened their designer purse strings – at least until their economy is back on form. The bigger picture: Going nowhere. It’s not just the EU and China duking it out on trade: the US has thrown some punches too, and it seems intent on going a few more rounds. Higher tariffs can disrupt supply chains, increase prices for consumers, and take a toll on economic growth. So with the three of the world’s biggest trading nations ready to rumble, no economy is likely to go unbruised. You might also like: [How to defend your portfolio from the trade war crossfire](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Trading Punches&utm_campaign=daily-global-22-08-2024&utm_source=email) Analyst Take The Three Things That Make Compounding The World’s Eighth Wonder [The Three Things That Make Compounding The World’s Eighth Wonder]( By Jonathan Hobbs, CFA, Analyst With all the market noise right now, it’s a good time to step back and [focus]( on your end game. As [Albert Einstein]( (supposedly) said: “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it.” And there are [three]( important parts to that equation: time, returns, and the amount you invest. That’s today’s Insight: [the eighth wonder of the world, and how to make it work for you](. [Read or listen to the Insight here]( SPONSORED BY SWISSBORG Congrats, you’re a crypto VC now [Early-stage crypto investments]( are usually held back by red rope for the wealthiest 1%. But [SwissBorg]( must have found some serious scissors, because now you can invest in those deals at the same valuations given to venture capitalists – and you can start with just $10. You could be accessing exclusive deals at prices that won’t be matched again – like, never – with [SwissBorg Alpha](, giving you the opportunity to get in before a project goes mainstream. And with a sense of security, too: SwissBorg’s investment team vets each opportunity for [strong fundamentals and innovative roadmaps](. Over 12,000 investors have raised almost $20 million through SwissBorg Alpha: [here’s your chance to join them](. [Discover More]( When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( Count Down [Count Down] What’s going on here? The American economy [added]( far fewer jobs than previously believed, hinting at potential cracks in the seemingly impenetrable armor of the US labor market. What does this mean? The revisions suggest that the key monthly employment report from the Bureau of Labor Statistics overstated the number of new jobs created by 818,000 from April 2023 to March 2024 – a whole year. That would mean average monthly gains of about 174,000 – far lower than the previously reported 242,000. The new figures are the first step in an annual process the government follows to update older payroll figures, using detailed (but less timely) data from state tax records. And this revision – the biggest since 2009 – will keep investors firmly focused on the Federal Reserve (Fed): the central bank will be weighing up when to start slashing interest rates after its aggressive run of hikes. Why should I care? Zooming in: Storms in teacups. The size of the revision is big, but it’s likely exaggerated. That’s because the key source for the new figures – the Quarterly Census of Employment and Wages – is taken from state unemployment records. And those tend to exclude unauthorized immigrants, since they don’t qualify for jobless benefits. Goldman Sachs, for one, has been warning that this factor is likely to skew the results: its estimates for the revision ranged from 600,000 to a million. At least the official figures landed smack bang in the middle. The bigger picture: Saddle up. America’s abundance of workers has lent some strength to its economy: more folks in the workforce have helped keep wage growth down. And that’s been essential in nudging inflation down toward the Fed’s 2% target. But now with consumer prices seemingly under wraps and the job market showing signs of weakness, the bells are ringing louder for an interest rate cut. And the size of that trim may become clearer on Friday, at the Fed’s annual conference. You might also like: [Buffett’s stock sales spree feels ominous, but that doesn’t mean it is](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Count Down&utm_campaign=daily-global-22-08-2024&utm_source=email) 💬 Quote of the day "At the end of the day, if I can say I had fun, it was a good day." – Simone Biles (an American gymnast) [Tweet this]( 🎶 Be our guest You could attend our [Modern Investor Summit]( this December. It would be a ball: you'd be hanging out with like-minded investors, participating in [live-and-direct Q&As]( with industry leaders, and listening to [keynote speeches]( from the likes of this year's speaker Dan Ariely. Or you could be one of the experts. If you know your stuff and want to help this generation of modern investors develop their skills, [talk to us about speaker slots](. [Drop Us A Line]( 🎯 On Our Radar 1. 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