China trading with Krugman's Martians ?

http://www.zerohedge.com/news/china-trade-surplus-unexpectedly-rises-non-euus-imports-spike-crude-imports-relentless

China Trade Surplus Unexpectedly Rises As Non-EU/US Imports Spike; Crude Imports Relentless

Submitted by Tyler Durden on 01/09/2012 23:45 -0500

• China
 
• China Trade Surplus
 
• Crude
 
• OPEC
• Renminbi

In keeping with the theme of everything decoupling from everything else these days, a comparable decoupling pattern could be observed in China's December trade data, which experienced a surprising jump in its trade surplus from $14.5 billion in November to $16.5 billion in December, even if exports broadly slowed down and grew at the slowest pace in 10 months. This net surplus number was quite odd as it represents almost double the consensus forecast $8.8 billion, predicated by a matched slow down in imports which were up only 11.8% Y/Y, the smallest rise since the October 2009 decline of 6.4%. The odd jump in the trade surplus appeared at a time when many were expecting that the slowing Chinese economy would be well on its way to shifting from surplus to deficit, leading to a devaluation of the CNY (as opposed to the constant badgering form the US and Chuck Schumer demanding a revaluation of the renminbi).