China’s export-led imbalance is showing no sign of easing, with exports high and imports subdued, Brad Setser says. He estimates net exports have added about 1.

China’s export-led imbalance is showing no sign of easing, with exports high and imports subdued, Brad Setser says. He estimates net exports have added about 1.2 percentage points to growth this year, underscoring reliance on external demand.