Global Economic Analysis and News of Note
- Chinese exports increased 9.7 percent between December 2013 and December 2014, a reading that was much higher than the six percent analysts had predicted. Imports declined 2.4 percent, a figure that was lower than anticipated. China ran a trade surplus of $49.61 billion in December. Bocom International Holdings Co. Economist Li Miaoxian told Bloomberg, “China’s exports will be enough to provide support for overall growth, but won’t be strong enough to spark a rebound” this year. Li continued, “The better-than-expected performance of imports showed China’s domestic demand isn’t that weak — in fact, it’s quite stable if the distortion from the oil price fall is excluded.” Exports to the U.S. rose 9.9 percent year-over-year while exports to Japan fell.