1/5
China's trade surplus in March was the lowest in a year – $13.8 billion, or roughly 1% of GDP – mainly because of higher-than-expected imports. Chinese custom officials seem to think strong imports are a problem, and blamed higher commodity prices.
scmp.com/economy/china-…
China's trade surplus in March was the lowest in a year – $13.8 billion, or roughly 1% of GDP – mainly because of higher-than-expected imports. Chinese custom officials seem to think strong imports are a problem, and blamed higher commodity prices.
scmp.com/economy/china-…
2/5
That brings the Q1 trade surplus to $117.1 billion, or just under 3% of China's GDP. This is still much higher than a world struggling with weak demand can reasonably expect to absorb: the equivalent of a fiscal contraction of roughly 0.5-0.6 percentage points of GDP for...
That brings the Q1 trade surplus to $117.1 billion, or just under 3% of China's GDP. This is still much higher than a world struggling with weak demand can reasonably expect to absorb: the equivalent of a fiscal contraction of roughly 0.5-0.6 percentage points of GDP for...
3/5
the rest of the world, although mostly concentrated in the Anglophone economies, who collectively absorb over two-thirds of the global demand imbalance. Still, it's better than trade surplus during most of last year equal to roughly 5% of Chinese GDP.
the rest of the world, although mostly concentrated in the Anglophone economies, who collectively absorb over two-thirds of the global demand imbalance. Still, it's better than trade surplus during most of last year equal to roughly 5% of Chinese GDP.
4/5
A very important question for the global economy will be whether China can bring down its trade surplus further, or whether we will soon see it surge to the levels we saw just a few months ago. Given the very strong US fiscal stimulus, and China's equally-strong...
A very important question for the global economy will be whether China can bring down its trade surplus further, or whether we will soon see it surge to the levels we saw just a few months ago. Given the very strong US fiscal stimulus, and China's equally-strong...
5/5
supply-side response, unless Washington takes aggressive steps to prevent domestic demand from leaking abroad I think most analysts, both in China and abroad, are expecting significant expansions in the US trade deficit and in the Chinese trade surplus.
supply-side response, unless Washington takes aggressive steps to prevent domestic demand from leaking abroad I think most analysts, both in China and abroad, are expecting significant expansions in the US trade deficit and in the Chinese trade surplus.
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