{"id":42733,"date":"2019-01-14T09:52:21","date_gmt":"2019-01-14T14:52:21","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42733"},"modified":"2019-01-14T09:52:21","modified_gmt":"2019-01-14T14:52:21","slug":"china-trade-data-is-nail-in-the-coffin-of-global-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42733","title":{"rendered":"China Trade Data is Nail in the Coffin of Global Economy"},"content":{"rendered":"<header>\n<div class=\"story-header-area\">\n<div class=\"clearfix\">\n<div class=\"story-header\">\n<h3><a href=\"https:\/\/moneymaven.io\/mishtalk\/economics\/china-trade-data-is-nail-in-the-coffin-of-global-economy-UUKW-YtkGk-gOrFjGJ5ORw\/\">China Trade Data is Nail in the Coffin of Global Economy<\/a><\/h3>\n<\/div>\n<div class=\"photo\">\n<div class=\"renderable jss507 Center Original show\">\n<figure class=\"image\">\n<div class=\"jss242 picture loaded\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"\" src=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FjQA-kSteh0m_qBOYDzrFjQ\" srcset=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FjQA-kSteh0m_qBOYDzrFjQ?w=581&amp;q=40&amp;h=362&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FjQA-kSteh0m_qBOYDzrFjQ?w=872&amp;q=30&amp;h=543&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1.5x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FjQA-kSteh0m_qBOYDzrFjQ?w=1162&amp;q=20&amp;h=724&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 2x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2FjQA-kSteh0m_qBOYDzrFjQ?w=1743&amp;q=10&amp;h=1086&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 3x\" alt=\"\" width=\"581\" height=\"362\" \/><\/div><figcaption><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"post-summary\">\n<div class=\"publish-info\">\n<div class=\"authorCard jss518\"><\/div>\n<\/div>\n<\/div>\n<section class=\"deck\">Chinese exports and imports even though China&#8217;s trade balance with the US rose.<\/p>\n<\/section>\n<\/div>\n<\/header>\n<article class=\"story-body clearfix\">\n<div class=\"body\">\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<p>Eamonn Sheridan at Forex Live has some interesting comments on <a href=\"https:\/\/www.forexlive.com\/news\/!\/china-dec-trade-balance-cny-bn-expected-345bn-cny-20190114\" target=\"_blank\" rel=\"noopener\">China&#8217;s December Trade Balance<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<blockquote><p>The export figures are a focus and they are poor indeed. But save some space in the barf bag for the import results, they are terrible &#8211; huge miss on these.<\/p>\n<p>Demand in China has been showing evidence of slowing. <em>This is a nail in the coffin<\/em>.<\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<p><strong>December 2018 Data &#8211; Yuan Terms<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div><\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<ul>\n<li>China trade balance comes in at CNY 395bn, expected CNY 345bn, prior was CNY 306bn<\/li>\n<li>Exports 0.2% y\/y, expected 6.6%, prior was 10.2%&#8230; BIG MISS<\/li>\n<li>Imports -3.1% y\/y, expected 12.0%, prior was 7.8% \u2026 even bigger miss<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<p><strong>December 2018 Data &#8211; US Dollar Terms<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<ul>\n<li>China trade balance USD 57.06bn, expected $51.6bn, prior was $44.7bn<\/li>\n<li>Exports -4.4% y\/y, expected 2.0%, prior 5.4%<\/li>\n<li>Imports -7.6% y\/y, expected 4.5%, prior was 3.0%<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<p><strong>Tariff Man<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"renderable jss507 Center Original show\">\n<figure class=\"image\">\n<div class=\"jss242 picture loaded\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"\" src=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fw4e4SFHdUUqw4oPNXneP0w\" srcset=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fw4e4SFHdUUqw4oPNXneP0w?w=592&amp;q=40&amp;h=688&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fw4e4SFHdUUqw4oPNXneP0w?w=888&amp;q=30&amp;h=1032&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1.5x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fw4e4SFHdUUqw4oPNXneP0w?w=1184&amp;q=20&amp;h=1376&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 2x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fmaven-user-photos%2Fmishtalk%2Feconomics%2FzmfATcSa4EegwR7v_znq6Q%2Fw4e4SFHdUUqw4oPNXneP0w?w=1776&amp;q=10&amp;h=2064&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 3x\" alt=\"\" width=\"592\" height=\"688\" \/><\/div>\n<\/figure>\n<\/div>\n<\/div>\n<div><\/div>\n<div>\n<div class=\"renderable jss507 Center Large show\">\n<div class=\"jss531 jss535 message-item renderable url-info\">\n<div class=\"left\">\n<div class=\"jss242 picture loaded\"><img decoding=\"async\" class=\"\" title=\"Brad Setser on Twitter\" src=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1uIGZXQAAFy3p.jpg%3Alarge\" srcset=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1uIGZXQAAFy3p.jpg%3Alarge?w=270&amp;q=40&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1uIGZXQAAFy3p.jpg%3Alarge?w=405&amp;q=30&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1.5x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1uIGZXQAAFy3p.jpg%3Alarge?w=540&amp;q=20&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 2x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1uIGZXQAAFy3p.jpg%3Alarge?w=810&amp;q=10&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 3x\" alt=\"Brad Setser on Twitter\" width=\"270\" \/><\/div>\n<\/div>\n<div class=\"right\">\n<div class=\"link-title\">Brad Setser on Twitter<\/div>\n<div class=\"link-description\">\u201cLet&#8217;s start with the backward looking data. The bilateral deficit with China has increased by about $60b in Trump&#8217;s first 2ys. \u2026<\/div>\n<div class=\"link-icon\">twitter.com<\/div>\n<div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"renderable jss507 Center Large show\">\n<div class=\"jss531 jss535 message-item renderable url-info\">\n<div class=\"left\">\n<div class=\"jss242 picture loaded\"><img decoding=\"async\" class=\"\" title=\"Brad Setser on Twitter\" src=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1vfUmWwAAyfmU.jpg%3Alarge\" srcset=\"https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1vfUmWwAAyfmU.jpg%3Alarge?w=270&amp;q=40&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1vfUmWwAAyfmU.jpg%3Alarge?w=405&amp;q=30&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 1.5x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1vfUmWwAAyfmU.jpg%3Alarge?w=540&amp;q=20&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 2x, https:\/\/imageproxy.themaven.net\/https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDw1vfUmWwAAyfmU.jpg%3Alarge?w=810&amp;q=10&amp;auto=format&amp;fit=crop&amp;crop=focalpoint&amp;fp-x=0.5&amp;fp-y=0.5&amp;fp-z=1&amp;fp-debug=false 3x\" alt=\"Brad Setser on Twitter\" width=\"270\" \/><\/div>\n<\/div>\n<div class=\"right\">\n<div class=\"link-title\">Brad Setser on Twitter<\/div>\n<div class=\"link-description\">\u201cThe trailing 12m sum is a lagging indicator. It replicates the y.y data at the end of the year so it covers developments over the\u2026<\/div>\n<div class=\"link-icon\">twitter.com<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<p><strong>Chinese Investment in the US Slumps to 7-Yr Low<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<p>The Financial Times reports <a href=\"https:\/\/www.ft.com\/content\/cbef33e8-17a3-11e9-9e64-d150b3105d21\" target=\"_blank\" rel=\"noopener\">Chinese Investment in the US Slumps to 7-Yr Low<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"markdown\">\n<div>\n<div>\n<p>Including $13bn in US asset divestitures by Chinese investors, China\u2019s net US investment actually shrank by $8bn in 2018.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>China Trade Data is Nail in the Coffin of Global Economy Chinese exports and imports even though China&#8217;s trade balance with the US rose. Eamonn Sheridan at Forex Live has some interesting comments on China&#8217;s December Trade Balance. The export figures are a focus and they are poor indeed. But save some space in the [&hellip;]<\/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":[130,23941,366,14648,13390,805,19240],"class_list":["post-42733","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-chinese-trade-data","tag-global-economy","tag-michael-shedlock","tag-mishtalk","tag-trade","tag-trade-data"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42733","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=42733"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42733\/revisions"}],"predecessor-version":[{"id":42734,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42733\/revisions\/42734"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}