China: Weaker trade data numbers - BBH

Research Team at BBH, notes that the China reported weaker than expected October trade data today.  

Key Quotes

“Exports had been expected to contract -6% y/y but instead came in at -7.3% y/y.  Imports had been expected to contract -1% y/y but came in at -1.4% y/y.  It’s worth noting that Finance Minister Lou Jiwei was replaced by Xiao Jie.  Some believe this move heralds a more expansive fiscal stance, as Lou worked on limiting spending even as the economy slowed.”