What many people don't know is that this wave of oil price increases directly led to a major decline in the US auto manufacturing industry. American cars have always been known for their large size and powerful engines. Ford, GM, and Chrysler produced cars that were large-displacement, spacious "gas guzzlers." Americans who used to floor the accelerator were now cautious with every press of the gas pedal. The high cost of transportation made it unaffordable to fill up with gas, and American cars were neglected. Detroit, the "Motor City," went bankrupt.

1. In the sweltering heat of July, the RMB exchange rate against the US dollar depreciated to around 7.2. This marks the fourth time the RMB exchange rate has broken the 7 mark since August 2019, and it's just a step away from 7.3 last October. 2. Exchange rate fluctuations directly impact wallet "thickness." With Amazon Prime Day starting in July, and the downstream market also being the traditional peak season for cross-border e-commerce, why is the RMB weakening? Does depreciation necessarily benefit exports? How long can this round of exchange rate "dividends" last?

The 2023 holiday shopping season is about to kick off with Prime Day on July 11th. How enthusiastic are American consumers this year? What price ranges are they favoring? How are their international counterparts preparing their stocks? We've translated a CNBC holiday shopping season supply chain report as a supplement to this headline for our readers' reference. Key information in this article:

Recently, the State Taxation Administration issued an announcement deciding to implement "immediate tax refund upon departure" for goods exported by taxpayers through cross-border e-commerce export warehouses, effective from January 27, 2025. Taxpayers exporting goods through export warehouses (customs supervision code "9810") can pre-declare export tax refunds (exemptions) based on the export customs declaration and other relevant materials after the goods have left the country. Subsequent tax calculations will be based on the sales of the goods.