The Globe and Mail reports in its Tuesday, Aug. 19, edition that gold bullion from Canada constitutes a larger share of Chinese gold imports than is commonly recognized. The Globe's Steven Chase writes that according to China Customs data, the value of these imports is over 10 times higher than what Canadian export statistics indicate. In China, gold is considered its top import from Canada by value, unlike the canola and coal that Canada lists as its top exports. This discrepancy stems from differing perspectives: Canada cannot track the final destination of its exports once they change hands, while China Customs mandates that importers trace the origin of their products. University of Alberta's China Institute director Philippe Rheault notes that China is purchasing precious metals to hedge against global uncertainty and its dependence on the U.S. dollar. Mining Association of Canada chief executive officer Pierre Gratton says: "Given the incredible rise in gold's value, China once again appears to be outmaneuvering the West, much as it has with other mineral commodities. It's ironic and unfortunate that Canada, as a major gold producer, isn't itself increasing its gold holdings in these turbulent times."