(Tim Worstall – Forbes)
It might perhaps be a good idea for us to have a copy of The Hitchikers’ Guide to the Galaxy handy as we contemplate the drastic fall in China’s trade figures for the last month just announced. A 15% fall in exports is matched by a 12% fall in imports. The reason to have that learned tome to hand would be to have a glance at the cover, with its helpful advice of “Don’t Panic”.
As far as anyone can tell this is not the result of China’s economy falling off a cliff nor is it the harbinger of it being about to do so. Thankfully, as Chinese economic growth is the major thing powering global economic growth of course. This is much more to do with two other factors than it is to do with anything about China’s real economic prospects. Click here to read more.
Related: China Stocks Rise Again Despite Bad March Export Data (Reuters)