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10th May 2022 00:00China+, Daily Monitor

Zero-Covid caught up with Chinese exports in April, as inventories were exhausted...

...But demand played a role too, with higher energy prices dragging down trade with Japan and Europe.

The fundamental backdrop for the renminbi is deteriorating, highlighted by plunging FX reserves.

bond yields capital outflows chinese exports construction copper e.u. energy exporters exports fed fx reserves imports interest rate inventories japan June May oil pboc raw materials trade trade balance trade surplus transport u.s. us yields

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Keywords for: Trade Disruption Builds for China, as Restrictions Tighten

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