Chinese exports hit a new high in December, having grown by a modest 1% on a year earlier in yuan terms. Yet, exports in dollar terms fell 6%, well below the 4% drop expected by economists. The modest yuan growth likely included some front-loading due to the earlier lunar new year. One area that boosted exports was an apparent race to complete exports before the new administration arrives. U.S. exports climbed 6% in dollar terms, while global exports of mobile phones – a product area previously threatened with tariffs by the President-elect – jumped 33%. Yet, the weaker underlying state ...