China: Abrupt 70% Drops in Growth, Income; Trade Balance Plunges on Crude Oil Buy-Up; World Commodities Prices Totter

China’s trade deficit hit $31.5bn in February as exports slumped, underscoring concerns about slowing global demand and cooling growth in the world’s second-largest economy.
February exports from China fell 23.6 per cent from the previous month, and rose a slower-than-expected 18.4 per cent from the previous year. The fall in exports, combined with spectacularly strong imports as China bought commodities such as crude oil and iron ore, brought the trade deficit to its highest level in years.
_FinancialTimes

Video Source: Financial Times
The above video describes the abrupt 40% to 70% drops in growth, income, and land sales experienced by virtually all regional Chinese governments -- a reflection of the deflating economic bubble within China. This data was obtained independent of the Chinese government, and as such is likely to be more reliable.

Below you will see some revealing charts, describing the radical drop in China's trade balance caused by an apparent stockpiling of crude oil and other commodities.

...here are some truly stunning charts showing the epic collapse in the Chinese economy, which while still experiencing intermittent flashes of inflation, will have no choice but to resume easing all over again, in the process sending all commodity prices higher yet again. _ZeroHedge

All Charts via ZeroHedge
China's current trade deficit is the largest since 1989, and is reflective of a number of economic trends impinging upon China's long term economic plan.

World commodities markets from Australia to Brazil to Africa are trembling at the thought of a significant and prolonged slowdown in Chinese demand for raw materials.

China's buildup of its crude oil stockpiles -- with its inevitable stressing of world crude markets -- is even more interesting, as it suggests a multi-tiered strategic thrust on the part of the middle kingdom, using world financial markets as a proxy force.

This is not a China collapse, but rather a foretaste of what happens when there is a suggestion of an eventual auditing of the books. When the books are actually audited, even more significant adjustments will be made. But even later, in the aftermath of the auditing, there will be a reckoning.