Data out this morning showed a surprising drop of 2.7 per cent in exports from China, and another increase in imports, so that instead of analysts’ estimates of a surplus of $35 billion it was a fraction of that at $13.8 billion. This is an erratic series, and deficits were seen in 2009 and again in several months over the following years, but today’s number is towards the lower end of what’s been seen since international trade started booming in 2000.
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