China’s exports slipped again in May

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Published on June 7, 2020 12:16 PM |
Views: 3,563
| Subjects: China

BEIJING (AFN / RTR / BLOOMBERG) – China’s exports fell in May as the corona crisis and lockdown put pressure on global demand for Chinese goods. Imports of the world’s second economy also declined.

Exports to the rest of the world shrank by 3.3 percent year-on-year, according to Chinese customs, after an unexpected 3.5 percent increase in April. As a result, exports fell less sharply than economists expected, helped by higher foreign sales of medical equipment such as mouth masks.

Chinese imports shrank by 16.7 percent, which is even stronger than a month earlier. This was partly due to the lower prices of raw materials such as oil and gas and also soybeans. It is the sharpest drop in imports since early 2016. The Chinese trade surplus, expressed in dollars, rose to the record level of $ 62.9 billion.

Economists believe that China’s exports may pick up again in the near future as quarantine measures against the corona virus are gradually relaxed in more and more countries. This recovery is likely to take longer because of the blows the crisis has caused to major economies such as the European Union and the United States.

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  1. sundial wrote down June 7, 2020 12:52 PM:

    Some here want to declare every grain of news a positive thing. Even though the US stock markets are near all time highs. It has to be even higher because ‘exports and imports in China have fallen’ ???. Again, reality from top analyst El-Erian regarding the fake job report. The stock markets must and will be talked up, but if it comes to it, it is ultimately about valuations. And they are currently ridiculously high finance.yahoo.com/video/why-unemploym …

    FANG stocks are sky high with positive growth prospects. The ordinary economy is not expensive at all. A common mistake.

  2. sundial wrote down June 7, 2020 12:52 PM:

    Some here want to declare every grain of news a positive thing. Even though the US stock markets are near all time highs. It has to be even higher because ‘exports and imports in China have fallen’ ???. Again, reality from top analyst El-Erian regarding the fake job report. The stock markets must and will be talked up, but if it comes to it, it is ultimately about valuations. And they are currently ridiculously high finance.yahoo.com/video/why-unemploym …

    Yeah so? We live in the bizarre situation that central banks buy government and corporate bonds so that both large countries and companies no longer go bankrupt and interest rates are extremely low. That justifies skyrocketing valuations. A minimal dividend is then always more than no interest on a savings account or negative on bonds. Microsoft also has a p / w of over 30, record high, but they give dividends and are still growing and can no longer be ignored in our society. More and more companies are even borrowing (thanks to the central bank) and then distribute this to the shareholders. It was not my idea to create that possibility, but I would take advantage of it if I were you.

  3. BeursWolff wrote down June 7, 2020 12:25 PM:

    And again market manipulation. by this headline. the news is positive. Exports declined less than expected. That is positive for the market, with this headline it seems negative.

    Agree. I have also previously reported. The editors of IEX do not understand much of it themselves. The title should indeed be in line with the sentiment of the message. Usually not good at IEX; gets no attention. Little journalistic amateurism, I guess, not so much market manipulation.

  4. Makita wrote down June 7, 2020 1:03 PM:

    […]
    FANG stocks are sky high with positive growth prospects. The ordinary economy is not expensive at all. A common mistake.

    ah yes, those so-called growth prospects, which now apparently look even better than at the end of February, even before the lockdown. And then there was an all-time high in terms of profit ratio of 25 at the SP 500 … But the sky is always the limit, the rest does not matter. Preferably take as little information as possible and just play with your chips in the casino. Play on, you will seriously lose everything with that mentality. Or did you not know that the casino ALWAYS wins from you over a long period of time.


  5. Lepre Chaun wrote down June 7, 2020 5:18 PM:

    Economists think that China’s exports may pick up again in the near future.

    As a result, exports declined less sharply than economists expected, helped by higher foreign sales.

    Wonderful start of the new week.

    Are those the same economists who predicted enormous economic consequences from the pandemic, whereby governments even came to an unprecedented order of intervention? It seems to me that they would be better off abolishing the profession of economist and have the fair managed by Janneke and Mieke, who like to go to the casino.



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https://www.iex.nl/Nieuws/ANP-070620-051/Export-China-zakte-weer-weg-in-mei.aspx

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