Ｓｅｃｒｅｔ ｉｎ Ｅｘｃｈａｎｇｅ Ｒａｔｅ ＆ Ｆｏｒｅｉｇｎ Ｔｒａｄｅ？

China's import and export growth inNovember has dropped drastically.Year-on-year export growth ratedropped from 19.2 percent to-2.2percent and the year-on-year import growthrate dropped from 15.6 percent to-17.9 per-cent.The trade surplus amounted to 40.09billion U.S.dollars.This is the first time inChina's exports monthly negative growthdating back to June 2001 (see Chart 1).