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Covid-related products including computing equipment for home-working
自6月份以來，包括家用辦公電腦設備在內的疫情相關產品，
has accounted for the majority of China's year-on-year export growth in each month since June.
在中國月度出口同比增長中占了大部分。
Eytan Buchman of Freightos, an online marketplace, reports that ocean-freight prices are surging for routes between America and South-East Asia,
線上市場Freightos的Eytan Buchman報告稱，美洲與東南亞航線之間的海運費價格飆升，
partly because of "nearfrantic" e-commerce offerings by small businesses.
部分原因是因為小企業提供的“近乎瘋狂”的電子商務服務。
Policymakers have played a pivotal role in the trade revival. Monetary and fiscal firepower was bigger and faster than trade experts had expected.
政策制定者在貿易復蘇中發揮了關鍵作用。貨幣和財政的火力比貿易專家預期的更大和更快。
Central-bank liquidity measures kept trade finance flowing better than it did during the financial crisis,
央行流動性措施使貿易金融的流動性比金融危機期間的更好，
says Jennifer McKeown of Capital Economics, a research outfit.
研究機構凱投宏觀的Jennifer McKeown說到。
Although the trade performance is cause for relief, no one should declare victory yet.
盡管貿易表現讓人松了一口氣，但還不是宣告勝利的時候。
A second wave of lockdowns, or overhasty efforts to curtail economic stimulus, could derail the recovery.
第二波封鎖，或過于倉促地削減經濟刺激措施，可能會破壞經濟復蘇。
The value of exports from South Korea dipped in August relative to July,
相較七月，韓國八月份的出口額有所下降，
as did those of China after adjusting for an artificially depressed base in 2019.
在為2019年人為壓低的基數進行調整后，中國也有所下跌。
Robert Koopman, chief economist of the World Trade Organisation, which oversees global trade,
監管全球貿易的世界貿易組織的首席經濟學家Robert Koopman
doubts there will be a sustained v-shaped recovery.
懷疑是否會出現持續的v型復蘇。
Overlaying this is a concern about the lingering unevenness of trade.
除此之外，還有對貿易持續不平衡的擔憂。
Brad Setser of the Council on Foreign Relations, an American think-tank,
美國智囊團——美國外交關系協會的Brad Setser表示，
says that the trade slump has shrunk the gap between most countries' imports and exports, reducing imbalances.
貿易下跌縮小了進出口大國之間的差距，減少了不平衡。
Yet there have been two standout exceptions.
然而，有兩個明顯的例外。
The first is China, whose rapid reopening has sent its exports of goods surging to a level last seen
第一個是中國，中國迅速重啟使其出口商品飆升至
before the Sino-American trade war—almost $60bn higher than imports in August.
中美貿易戰爆發前的水平——比八月進口高出近600億美元。
The second is America, whose policies to stoke demand have had the side-effect of causing its trade deficit to increase further—to around $80bn in July.
第二個是美國，其刺激需求的政策產生了副作用，導致其貿易逆差進一步增加——7月份達到約800億美元。
This imbalance is ominous. Although the so-called Phase One trade deal between America and China
這種不平衡是不祥之兆。雖然所謂的第一階段中美貿易協定
was meant to prop up American exports to China, so far it has disappointed.
旨在支持美國對中國的出口，但到目前為止結果令人失望。
Meanwhile, President Donald Trump is haranguing China ahead of elections in November.
與此同時，唐納德·特朗普總統正在11月的大選前大談特談中國。
Trade may not have performed as badly as many feared. But it still has an alarming ability to pack a Thurmanesque punch.
貿易的表現可能并不像許多人擔心的那么糟糕。但它仍有驚人的能力，能夠打出瑟曼式的重擊。
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