Daily commentary-2022.5.25 1.Covid:New case no. continue to decline and China is moving closer to back to normal life.2.Monkeypox:More countries are getting ready for potential outbreak of monkeypox.3.Russia and Ukraine:China and Russia has a joint military exercise, which increase the tension with western countires.4.Food crisis:To make the food crisis worse is that India capped the total export quota for sugar. Sugar price may rally for this.5.Climate change:Some activist pointed out that current carbon credit price may be too low.6.China economy:Today Chinese gov hold a video conference call national wide with more than 10,000 attendance from different level ofgovernment. The theme of this video call is layout the stimulus plan for Chinese economy. It mentioned more than 5 trillion RMB stimulus plan will be put ineconomy and more is coming. This would be a big boost for current economy and stock market.{lamp/}

Daily commentary - 2022.5.24 1.Covid:Total China new covid cases no. continues to drop. We are on the way of back to normal life. Newcovid case no. in Beijing is still high, so Beijing maybe lockdown for a while.2.Monkeypox:It seems many countries are preparing for potential outbreak of monkeypox by chickenpox vaccines. China also have several producers including Wantai Bio, Changchun HighTech, Wantai Bio, Daan Gene, National Medicine, preparing for chickenpoxvaccines. It seems there is no evidence that monkeypox could do airborne infection yet. However,given the wild damage of Covid, more than USD 1 trillion cost, we need to pay a close look on Monkeypox. Following is more information about monkeypox:3.Russia and Ukraine:As Russia military action enters into the forth month, Russia is have little victory to claim, while pressure on Russia is continue to mount. Under Russian current political structure,if Russia withdraw from Ukraine without "victory", it will lead to enormous pressure to current politcal leader.4.Food crisis:Russia and Ukraine normally export about 55million MT of wheat per year. If Ukraine can onlyexport half of its volume, 8 million MT, and Russia can only export 70% of its volume, 28 million MT. Then we are facing an 20millon MT supply shortage, which is about 2.6% of total world production. This production cut will affect Middleeast and Africa hardly and may cause more starving. 5.Climate change:As scientist noticed the surface of ocean is getting thinner and currents shallower, faster.Global warming is blamed for these changes. Not sure how this will impact our current life yet, but it is surely adding extreme weather toour life.{lamp/}

Daily commentary-2022.5.23 {lamp/}1.Covid:China overall new covid cases no. continue to drop, while Beijing case number climbed up. Thiscaused tighter lockdown term and may cause moreeconomy decline in Beijing.2.Monkeypox:Over 50 places reported found monkeypox cases. It is not sure whether this will develope to another pendenmic as covid. But it deserve a close watch.{lamp/}3.Russia and Ukraine:Ukraine is calling for more weapon and ecomonical support. Ukraine is also calling for more sanctions on Russia.

Daily commentary-2022.5.20 {lamp/}Covid:1.More cases found in Beijing, we expect stricter lockdown will happen here.This may extend the period of lockdown in Beijing and cause more economy losses. Previously we estimate it will cause Beijing of about 0.09 trillion RMB for about 50 days and now this number may go bigger together with longer lockdown in Beijing.2.New cases no. in China continue to decline, this is a good sign for national wide easing current lockdown.3.Outbreak of new disease, monkeypox, is deserved a clost monitor, since it is fatal desease. Lucky, it is not an air spread one. It need close touch to infect.{lamp/}Russia and Ukraine:Russia clamed success on Mariupol in Ukraine, but the cost is so high, above USD 100 billon, which is about 6% of Russian GDP. And the war cost about another USD 100 billion or 50% of GDP of Ukraine. So the cost of the war is really high.{lamp/}Food crisis:As Russia and Ukraine conflict continue, Russian and Ukraine grains are not availe and this caused thefood crisis for middle east and potential threats to whole globe.

Daily commentary-2022.5.19 {lamp/}Covid:China domestic new covid cases numbers continue to drop, this is a good sign for potential easing of lockdown.{lamp/}Russia and Ukraine:No effective progress for Russia in Ukraine, it a sign of long term conflict. All exports from Russia will be affected for long time such as 12 months.{lamp/}China economy: China economy is highly relied on government stimulusgiven weak domestic demands and weakening exports. US economy: There are signs that US domestic demands are weakening given high inflation. The only way to avoid a recession is for US government add more fiscal and monetary stimulus to economy.{lamp/}Food crisis:Some Chinese wheats were cut off before harvest for feeds for animals. Not sure how big is the scalefor this yet. It would affect the overall food production for this year for sure if the scale is big.