The media played down that China simultaneously reported solid import numbers. China´s imports rose 7.4% last month from a year earlier (yahoo). This week we also learned that in the past weeklong National Day holiday Chinese retail sales climbed 13.6% compared to last year.
I reckon that the import & retail numbers tell as much more about the state of the Chinese economy than the erratic export numbers. The advancing imports & retail sales reflect the fact that China´s domestic economic is still on a fast growth track. Both numbers are an indication for a solidly growing domestic consumer demand that is reducing China´s dependence from the the volatile export markets, making the economy more robust and healthier.
I reckon that the headlines are a tribute to the ongoing china pessimism bubble that is still ruling media & investors (driveby). The gloomy sentiment is holding back the Chinese stock market and creates ample investment opportunities in the Middle Kingdom.