The good news is China’s April trade figures are super high! The bad news is no-one believes them, which is fair enough because just a few days ago the Chinese foreign exchange authority virtually said that the export numbers are not reliable — it plans to crackdown on companies that appeared to be over-invoicing for exports as a way of skirting capital inflow restrictions.
The promise of a crackdown was taken seriously, but it’s believed to be much too late for the April data.
Continue reading: No-one is impressed by China’s amazing April trade figures Reported by FT.com 3 hours ago.
The promise of a crackdown was taken seriously, but it’s believed to be much too late for the April data.
Continue reading: No-one is impressed by China’s amazing April trade figures Reported by FT.com 3 hours ago.