Last month, dollar-denominated exports plunged 20.7% compared to the same period last year while imports dropped 5.2%, official data released by the General Administration of Customs revealed on Friday.
The trade balance also narrowed dramatically to US$4.12 billion from January’s figure of $39.16 billion. Another key stat showed that the politically-sensitive trade surplus with the United States dipped sharply to $14.72 billion from $27.3 billion a month earlier.
It's been coming for some time and you're seeing the bow wave of a larger problem facing the Chinese. Their run was never sustainable and when President Trump took office, it simply accelerated the situation. China has many problems, but one of the biggest problems they have is too many Chinese. And with 75% males in China, the social dynamic is coming head-on with reality.
ReplyDelete