{"id":18653,"date":"2016-03-09T11:47:12","date_gmt":"2016-03-09T16:47:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18653"},"modified":"2016-03-09T11:47:12","modified_gmt":"2016-03-09T16:47:12","slug":"are-you-kidding-me-chinese-exports-plunge-25-4-percent-compared-to-last-year","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18653","title":{"rendered":"Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year"},"content":{"rendered":"
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Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year<\/a><\/h3>\n<\/div>\n
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\"Exports<\/a>We just got more evidence that global trade is absolutely imploding.\u00a0 Chinese exports dropped\u00a025.4 percent<\/strong>\u00a0during the month of February compared to a year ago, and Chinese imports fell\u00a013.8 percent<\/strong>\u00a0compared to a year ago.\u00a0 For Chinese exports, that was the worst decline that we have seen since 2009, and Chinese imports have now fallen\u00a0for 16 months in a row<\/strong>\u00a0on a year over year basis.\u00a0 The last time we saw numbers like this, we were in the depths of the worst economic downturn since the Great Depression of the 1930s.\u00a0 China accounts for more global trade than any other nation (including the United States), and so this is a major red flag.\u00a0 Anyone that is saying that the global economy is in \u201cgood shape\u201d is clearly not paying attention.<\/p>\n

If someone would have told me a year ago that Chinese exports would be 25 percent lower next February, I would not have believed it.\u00a0 This is not just a slowdown \u2013 this is a historic implosion.\u00a0 The following comes from\u00a0Zero Hedge<\/a>\u2026<\/p>\n

Things are not getting better in China as\u00a0Exports crashed 25.4% YoY (the 3rd largest drop in history)<\/strong>, almost double the 14.5% expectation and\u00a0Imports tumbled 13.8%, the 16th month of YoY decline \u2013 the longest ever.<\/strong>Altogether this sent the trade surplus down to $32.6bn (missing expectations of $51bn) to 11-month lows.<\/p>\n

\"Chinese<\/a><\/p>\n

So much for that whole \u201cdevalue yourself to export growth\u201d idea\u2026<\/p><\/blockquote>\n

I don\u2019t know how anyone can possibly dismiss the importance of these numbers.\u00a0 As you can see, this is not just a one month aberration.\u00a0 Chinese trade numbers have been declining for months, and that decline appears to be accelerating.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year We just got more evidence that global trade is absolutely imploding.\u00a0 Chinese exports dropped\u00a025.4 percent\u00a0during the month of February compared to a year ago, and Chinese imports fell\u00a013.8 percent\u00a0compared to a year ago.\u00a0 For Chinese exports, that was the worst decline that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,6529,8151,12838,195,2310,11848,5983,1784,12839,12840,366,3761,383,2520,4901,12750,11749],"class_list":["post-18653","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-chinese","tag-chinese-exports","tag-chinese-imports","tag-debt","tag-depression","tag-economic-downturn","tag-economiccollapseblog","tag-exports","tag-feel-pain","tag-feeling-less-pain","tag-global-economy","tag-global-trade","tag-great-depression","tag-imports","tag-michael-snyder","tag-pain","tag-trading"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18653"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18653\/revisions"}],"predecessor-version":[{"id":18654,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18653\/revisions\/18654"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}