China Posts Ridiculous Trade Surge On Base Effects, Demand Recovery

China Posts Ridiculous Trade Surge On Base Effects, Demand Recovery

What do you get when you combine pent-up demand abroad, a maturing domestic recovery, and base effects from a catastrophe? If you're looking at Chinese trade data, you get a 155% YoY jump in exports in February, or nearly 61% for January and February combined. The charts will never be the same. Henceforth, we'll have to adjust the y-axis or else circle the spike in red and mark it "COVID distortions." That's difficult to parse, but it gets easier when you compare the January-February period
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