Trade War Payback! China Exports And Imports Tumble In December

Early on Monday, China reported dismal trade data with exports unexpectedly falling the most since 2016 in December, while imports also contracted, pointing to further weakness in the world’s second-largest economy in 2019 and deteriorating global demand. Specifically, China December exports tumbled Fall -4.4% Y/y in Dollar Termsthe weakest year-on-year reading since January 2017, and down from +3.9% in November; far below the 2.0% consensus increase, while imports plunged -7.6% from +2.9% in Nov, badly missing the 4.5% expected increase,….