by Richard (Rick) Mills, Ahead of the Herd:
As a general rule, the most successful man in life is the man who has the best information
There’s a three year downward trend in Chinese imports underway. The chart below, from Nomura Global Economics, shows the trend quite clearly.
China’s exports and imports declined again in June. Exports fell 3.1 percent yoy – the most since the global financial crisis in 2008 – while imports dropped 0.7 percent. The poor June report follows a May collapse in export gains – fake invoices had inflated data for the first four months of the year, the bogus data enabled exporters to evade currency controls and bring extra money into the country. Trade growth might come in below the government’s target of eight percent for the year.
The governments self imposed target of 7.5 percent economic expansion is also at risk:
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