UBS On-Air: Paul Donovan Daily Audio 'Trade helps targets'

China’s November trade data showed stronger exports and weaker imports—an outcome which will help the government to meet this year’s official growth target (always something of an overriding concern in China). The data is difficult to interpret with shifts around friend-shoring and localization. Export growth to the EU remain weak, but exports to the US rose compared to last year. In contrast, US data shows import growth from China falling every month to October.