China and the Case of the Fake Export Numbers
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Exports from China underwhelmed investors for the first time in four months, missing forecasts. This fuels worries of a pessimistic outlook for global trade. Meanwhile the Chinese Government is looking into reported inflated data.
While exports for March gained by 10% from last March, imports have gained to above expected 14.1 %. This leaves a huge trade deficit of over $880 million in the world’s second largest economy. This is an incredible 92.9% jump in the number of exports to Hong Kong, by far the largest number of exports in nearly 20 years. This causes concerns about the authenticity of the numbers coming from the Chinese Customs agency.
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