Want more evidence that domestic demand in China is the real deal?
Check out the Korean export data that came out this evening. It soared a whopping 31% compared to estimates of around 23%.
Who buys from Korea? Well, we do, but the big buyer these days is China, and according to Bloomberg, exports to China were up a staggering 38% (shipments to the US were up 14%). Semiconductors, flat TVs, and petrochemicals all did well.
The bottom line: Demand from China — which is very much consumer in nature (at least when you’re talking about purchases from Korea — is hot.
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- China Test Driving A Yuan Hike With Select Industries