Overnight China reported disappointing export data, missing expectations of +5%. The gvoernment explained this on the basis that they were losing their competitive edge since the Yuan has strengthened to 20 year highs but perhaps most telling is that fact that, as the FT reports, China became the world's biggest trader in goods for the first time last year - overtaking the US for all of 2013.
The latest Chinese trade data showed that exports surged 12.7% year-over-year in November, up from 5.6% the previous month. This is also beat expectations for a 7% rise. The slowdown in import growth and the surge in exports resulted in a trade surplus of $33.1 billion.
Japan's trade deficit widens as import growth outpaces faster than expected rise in exports TOKYO (AP) — Japan's trade deficit nearly doubled in October, as growth in imports outpaced robust increases in exports to the U.S. and China, the Finance Ministry reported Wednesday.
Patrick Chovanec submits:Wednesday, China announced that its exports in May surged 48.5% compared to the same month last year. Imports into China rose by nearly the same percentage, 48.3%, but overall, China’s trade surplus for the month spiked to a historically strong US$20 billion.
By David Frank:Monday morning we got trade data out of China. The world's second largest economy reported that exports surged higher in September, beating expectations. The focus is on the imports number, which was expected to fall but climbed higher. This is an indication domestic demand might be healing.
The global economy led by Europe and China continues its downward path. Will the US follow?
First let's take a look at China. Markit reports China Manufacturing PMI Declines 8th Consecutive Month.
GENEVA: Global commerce is expected to grow just 3.3 per cent this year, the World Trade Organization said Tuesday, slashing its previous forecast of 4.0 per cent over weak global economic growth and rising geopolitical tensions. The trade body also said preliminary estimates showed trade had expanded just 2.8 per cent last year, missing September's forecast of 3.1 per cent. "Trade growth has been disappointing in recent years due largely to prolonged sluggish growth in GDP following the financial crisis," said WTO chief Roberto Azevedo.
Several weeks ago we reported that in response to ongoing alienation of Russia by the west Putin was aggressively setting the stage for Russia's eastward expansion, set to culminate with a "holy grail" gas deal with China.