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To take just one example: in explaining slow growth in the past, both the Bank of England and the Office for Budget Responsibility have tended to emphasise not just the eurozone but the impact on consumers of rising imported energy and food prices.
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Today shares in Fyffes, a major banana importer, jumped by more than 6% on the prospect of rising imports.
Although exports fell, the main reason for the deterioration in the deficit was rising imports.
Falling exports and rising imports contributed about equally to the widening gap with China.
The main shadow on the horizon was a concern that rising import costs would squeeze profitability.
Rising imports continue to widen the trade deficit and hamper growth.
In all the others, King said either the depreciation of the pound or rising import prices underpinned rising domestic prices.
America remains heavily dependent on the stuff, and with global recovery comes rising prices, which feed through to rising imports.
Capital outflows should weaken the domestic currency, and that should lead to rising import demand from abroad.
Rising imports often coincide with a strengthening economy, as more prosperous and confident consumers buy more foreign goods.
As retail sales increase, a new threat looms: rising imports that satisfy consumer demand but worsen the trade deficit.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com