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I’m in Awe at Just How Fast Global Trade is Unraveling
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
wolfstreet.com / by Wolf Richter / February 15, 2016
It simply doesn’t let up. Global trade is skidding south at a breath-taking speed.
China produced a doozie:
The General Administration of Customs reported on Monday that in yuan terms, exports dropped 6.6% in January from a year ago while imports plunged 14.4%. In dollar terms, it was even worse due to the depreciation of the yuan since August: exports plunged 11.2% and imports 18.8%, far worse than economists had expected.
And so the trade surplus, powered by those plunging imports, jumped 12.2% to a record $63.3 billion.
This came on top of China’s deteriorating trade numbers last year, when exports had fallen 1.8% in yuan terms while imports had plunged 13.2%. Imports have now declined for 15 months in a row. That’s tough for the world economy.
The post I’m in Awe at Just How Fast Global Trade is Unraveling appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/16/im-in-awe-at-just-how-fast-global-trade-is-unraveling/
