China's Trade Surplus Narrowed as Exports Declined

In China, trade surplus fell -US$ 13.3B to US$ 15.2B in September with exports falling and imports rising. The surprising drop in exports was mainly found in Southeast Asia with shipment to Indonesia and Thailand the worst affected. Speculations of Fed's QE tapering caused capital outflows from those countries, thus weakening their currencies and hurting import demand. Absence of any tapering plan from the Fed in September should be a temporary to these markets.

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China's Trade Surplus Narrowed as Exports Declined