China’s precarious economy. Beijing released a slew of monthly data on Friday. As usual, it’s a stew of both good news and bad. Perhaps most important, China’s credit crunch may finally be easing, with total credit in March reaching 2.86 trillion yuan ($426.54 billion), a 10.7 percent annual increase (compared to 10.1 percent in February). New bank loans grew 13.8 percent year over year, up from 13.3 percent the previous month. However, shadow lending contracted less quickly than in February, highlighting just how hard it is for Beijing to snuff out off-balance-sheet lending and still get firms the credit they need. Meanwhile, exports soared 14.2 percent year over year, following a more than 20 percent contraction in February. That sent China’s trade surplus with the U.S. surging back up to $32.65 billion; the U.S. tariffs simply aren’t having their intended effect. However, imports contracted 7.6 percent year over year, while vehicle sales in March plunged 5.2 percent year over
Daily Memo: China’s Economy, Sudan’s Future, the Taliban’s Offensive
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