For twenty years China exported deflation in the form of lower cost stuff but that king tide looks to be receding as deglobalization slowly becomes the new paradigm.
It will be interesting to see the import/export number five and ten years from now.
Give me those and I should be able to tell you rates of inflation and whether or not Taiwan has been invaded, and/or if the nukes have started flying
From Bloomberg via MSN, September 7:
China’s Export Slump Eases as Economy Searches for Stability
China’s trade slump eased in August, adding to early signals the worst may be over for some parts of the world’s second-largest economy as it tries to regain momentum.
Overseas shipments fell 8.8% in dollar terms from a year earlier while imports contracted 7.3%, both better than estimates and significantly less severe than July’s downturn. The trade surplus was $68 billion for the month.
“Improving China trade data is an early sign of growth stabilization,” said Raymond Yeung, chief economist for greater China at Australia & New Zealand Banking Group Ltd.Other data has suggested global demand is beginning to pick up, providing some hope for China’s trade in the coming months. South Korea’s exports — a bellwether for world trade — also declined at a more moderate pace in August than the previous month.
Thursday’s data showed China’s shipments to Europe and Asean continuing to record double-digit declines, but there was a notable improvement in US trade: Exports dropped 9.5% in August, compared to a 23.1% slump in July.
Exports had been a key source of growth for the nation during the pandemic, but muted global demand has weighed on shipments throughout the year and exacerbated the economic slowdown. While economists still expect China’s growth to match an official government target of around 5% for the year, the ongoing property crisis and weak confidence remain drags....
....MUCH MORE
Previously:June 8
UPDATED--Economists React To Weak Chinese Trade Data
July 13
"China’s Worse-Than-Expected Exports Deal New Blow to Economy"
August 7
"China reports double-digit plunge in July exports and imports, missing expectations"
As someone said back on December 14: Dear China, Thanks For All The Stuff But I Think We're Good For Now (U.S. imports plummet)
