THE China trade, statistically speaking,
appears unfazed by growing Sino-American trade tension, as little seems
to disturb the usual upward trajectory of cargo volumes between the two,
says a commentary in Forbes magazine.
Total trade activity climbed 12.9 per
cent on an annual basis in August in yuan terms, up from 12.5 per cent
in July. China's trade surplus with the US reached a record US$31
billion in August and is now $301 billion this year.
"So far, China trade to the US knows no bounds. In fact, the US is faced
with a record deficit with the Chinese," said Forbes senior contributor
Kenneth Rapoza in his commentary.
"Companies, meanwhile, are shipping back and forth like crazy to avoid
tariff lock-in dates, and the US economy is so hot that even the
#resistance at The New York Times admitted it this week that there were
at least three reasons for optimism," he said.
Total trade activity climbed 12.9 per cent on an annual basis in August
in yuan terms, up from 12.5 per cent in July. That marked the 22nd month
of growth, Panjiva research analysts said.
This is not because of a weaker yuan, according to S&P Global Market
Intelligence. In dollar terms, total trade grew 14.3 per cent including
an export expansion of 9.8 per cent, which beat market expectations of
7.8 per cent.
Many trade war watchers believe we are in the early innings of this. A
rising US stock market and a bear market in China may give Trump the
impression that he is winning. There is still more game to be played, he