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China's exports in November were up 21.2% annually, compared to two years ago, and its imports up 17.4% annually. That resulted in a $71.7 billion trade surplus for the month, its third largest ever (October's was the largest).
scmp.com/economy/econom… via @scmpnews
China's exports in November were up 21.2% annually, compared to two years ago, and its imports up 17.4% annually. That resulted in a $71.7 billion trade surplus for the month, its third largest ever (October's was the largest).
scmp.com/economy/econom… via @scmpnews
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Once again these high surpluses shouldn't come as a surprise. Beijing's attempts to restrain growth in debt and non-productive investment in the property sector must be balanced by some combination of higher consumption, lower growth, or expanding trade surpluses.
Once again these high surpluses shouldn't come as a surprise. Beijing's attempts to restrain growth in debt and non-productive investment in the property sector must be balanced by some combination of higher consumption, lower growth, or expanding trade surpluses.
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The last of these is the path of least resistance. Exports from January to November were up 15.7% annually compared to 2019, and imports up 13.6%. China's trade surplus year to date was equal to roughly 4% of its GDP, or ore than 0.8% of the GDP of the rest of the world.
The last of these is the path of least resistance. Exports from January to November were up 15.7% annually compared to 2019, and imports up 13.6%. China's trade surplus year to date was equal to roughly 4% of its GDP, or ore than 0.8% of the GDP of the rest of the world.
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