China Economy

Ex-growth China recovery delivers global economy nothing burger

David Llewellyn-Smith
Wednesday, 10 May 2023
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The Chinese rebound is not delivering much of anything to the global economy because net import demand is not lifting. Without property, China is useless to the world.

Pantheon with the note.

  • China: Exports rose 8.5% y/y in April, slowing from 14.8% growth in March. Consensus was 8.0%
  • Imports fell 7.9% y/y in April, after dipping 1.4% in March. Consensus was -0.2%.
  • Trade balance rose to $90.2B in April from $88.2B in March. Consensus was $71.3B

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.