China’s Trade Balance Points to Inflation
The Customs Administration
announced record trade flows in and out of China in December.
Specifically, exports grew at a 17.7% annual pace, while imports surged
55.9% over the year. This is a remarkable one-month rebound; reported
export growth beat consensus expectations by a factor of 3.5 (+ 5%
export growth and + 32.5% import growth, according to Bloomberg).
