Part I: China exports booming; imports not so much! The US dollar likes it. But there are vast strategic implications for the global monetary system in play (covered in Part II on Monday)
Last night China reported a big export number, up 21.8 per cent for the month of February, well above the expectation of a 10.1 per cent rise. Yet on the flip side, imports for the month were dismal; down 15.2 per cent, which was well below expectation of an 8 per cent drop.
What might be the takeaways here? In short, there are many. Assuming the Chinese export number can be believed, then: