Asian engines continue to drive global trade recovery
The strongest recovery in Asian trade since the rebound from the financial crisis continues
Despite concerns about protectionism following US President Donald Trump’s election, Asia is posting some of the best export numbers in recent years. And it comes as the White House backs off its tough talk of retaliatory trade measures against China.
As the Wall Street Journal writes today, along with the encouraging data coming out of China Thursday, other regional bellwethers are logging impressive numbers.
South Korea posted its third straight double-digit export gain last month, and Singapore outbound shipments are on pace to see their fastest growth since 2010.
“It’s probably the strongest recovery we’ve seen [in Asian trade] since the rebound from the financial crisis,” the Wall Street Journal quoted Nomura analyst Rob Subbaraman as saying.