China’s trade surplus hit a record high in August for the second month in a row as imports fell on the back of domestic weakness in the world’s second-largest economy and exports grew on stronger U.S. and foreign demand.
Weak import demand suggests that the stimulus moves that Beijing has put in place this year—including fiscal spending on rail, social housing and energy programs and targeted monetary policy easing—lack staying power, which could prompt more stimulus measures to meet economic growth targets.
“The weak imports reinforce fears that the impact of any mini-stimulus or targeted measures didn’t last very long,” said ING economist Tim Condon.
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Mark Magnier and Richard Silk, Wall Street Journal via CHINA US Focus http://ift.tt/WytxCV
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