As a follow-up to China Exports, Imports Soar: Global Trade Outlook Improving? let’s investigate China’s “Import Surge” with a series of pictures.

China Imports and Exports Year-Over-Year

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The above from ZeroHedge China Trade Data Beats As Crude Demand Surges (Ahead Of Maintenance)

Crude Monthly Year-Over-Year Price Rise Percent

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Crude Monthly Year-Over-Year Dollar Increase

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US Trade in Goods and Services

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US Trade in Goods and Services Moving Average

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US Trade Deficit by Country Through April

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US Trade with China 2017 vs 2016

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The idea that global trade is improving is largely a commodity-induced fantasy related primarily to the price of oil.

By Mike “Mish” Shedlock