China reported a strong trade surplus for April. The problem is that few analysts believed information from the People’s Republic. Experts have been skeptical about China’s economic data for years. One reason is that the central government wants both its population and the world to have faith in the power of the Chinese manufacturing machine. Another is that local governments issue data to make themselves look better in the eyes of the central government.
The AP says about China’s trade growth in April:
China reported stronger April trade but analysts said export data were inflated and its shaky recovery might be weaker than it looks.
Exports rose 14.7 percent over a year earlier, up from March’s 10 percent growth, customs data showed Wednesday. Imports gained 16.8 percent, up from the previous month’s 14.1 percent.
That suggested the world’s second-largest economy might be improving after an unexpected decline in growth to 7.7 percent in the first three months of the year from the previous quarter’s 7.9 percent.
Analysts say, however, that Chinese export data are unreliable, possibly due to companies submitting inflated prices for their goods to evade capital controls and bring money into the country.
“We believe the strong trade growth is not indicative of a growth recovery,” said Zhiwei Zhang of Nomura in a report
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.