Chinese Trade Balance – Exports Still Declining
In what should be one of the largest periods for the Chinese exports it is actually one of the worst. This is the peak time for worldwide retaillers to be receiving goods from China for the upcoming holiday shopping season.
Either retailers are waiting for the last minute to determine what (and how much) they will commit money to, or they just don’t see the demand to justify ordering large quantities of goods.
Just released were the figures for August 2009:
(CH) CHINA AUG TRADE BALANCE: $15.7B V $13.6BE ($10.6B PRIOR)
- Exports Y/Y: -23.4% v -19%e (-23% prior)
- Imports Y/Y: -17% v -10.5%e (-15% prior)
That speaks loudly of where the global economy is… still depressed severly. Even the Chinese imports data paints a different picture that a ‘booming’ Chinese economy. Even they are not buying as much, down 17%.
More on this topic
(What's this?)
The Top 10 Reasons Why the China Sell Off Will Continue
(Investment U, 9/1/09)
The China Lie
(Investment U, 8/20/09)
CHANOS: THE CHINA BUBBLE IS ABOUT TO BURST
(THE PRAGMATIC CAPITALIST, 1/25/10)
