China exports plummet to lowest point since start of COVID pandemic as US firms turn away from rival amid tensions
Economy And Jobs,World,China,Inflation,Recession,Unemployment,Business,Labor,Manufacturing,Trade
From the Right
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China’s exports plummeted to their lowest level since the beginning of the pandemic as Western demand tails off, battering the world’s second-largest economy.
Chinese shipments fell by 14.5% in July compared to the same month last year and imports dropped by 12.4% as the ruling Communist Party struggles to dig out of its post-COVID funk, according to data released by Beijing on Tuesday.
The sagging figures dovetail with US Commerce Department data which show that American imports from China fell by 25% during the first half of this year.
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