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World Chokes On China
The latest trade data out of China didn't do much to dispense with the idea that Xi Jinping's foisting the country's overcapacity problem on the rest of the world -- at the possible expense of local producers abroad.
Exports grew nearly 8% in May in dollar terms from the same month a year ago, Friday's update from the customs administration showed.
That was far brisker than the 5.7% economists expected and counted as the fastest pace in a year.
Imports, meanwhile, rose just 1.8%, not even h
