And not just China
> China’s Exports Tumble Amid Broad Slowdown
> Economy keeps losing momentum; imports also continued to drop
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> On Tuesday, China reported its largest monthly drop in exports since the financial crisis. The customs administration said exports in February fell 25.4% in dollar terms year-over-year, compared with a drop of 11.2% in January. While trade flows were affected by February’s long Lunar New Year holiday, the decline was sharply lower than the median 15% drop forecast by 17economists surveyed by The Wall Street Journal.
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> Imports also declined, falling 13.8% last month, the agency reported, compared with an 18.8% drop in January, in a further cooling of demand in China that is affecting its Asian neighbors. China’s trade surplus narrowed sharply in February to $32.59billion from $63.29billion in January.
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> China’s poor data fit with trade results from other exporters in the region. Last month, Taiwan’s exports fell for the 13th-straight month—the island’s longest export slump since the global financial crisis—while South Korean exports declined for the 14th consecutive month. China’s February results were the weakest since May 2009, when exports fell 26.4%.
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