China Export: China’s exports fall to three-year low as global economy struggles | International Affairs


BEIJING: China’s exports fell to a three-year low in June, down more than 12.4% year-on-year, as signs are mounting around the world. wealth and Chinese policymakers are facing increasing pressure for more aggressive measures.
Exports were also lower than expected, down by 6.8%, which happened on Thursday. A Reuters poll of economists had forecast imports falling 9.5% and imports falling 4.0%.
Risks of China’s post-pandemic recovery have eased after picking up quickly in the first quarter, as analysts cut their forecasts for the economy for the rest of the year as factory output slows in the face of global weakness.
Brother Lv Daliang, who is the spokesperson of the customs agency, said that the poor are the ones who blame the poor. export “Decreasing the global economy, the decline in global trade and investment, and rising inequality, security and geopolitics,” in a statement at a press conference in Beijing.
Policymakers are now counting on the prospect of slower growth in the world’s second-largest economy at around 3% per year, according to economists’ forecasts. This is less than half the prices of the past few decades and makes the economy more prosperous.
China’s Prime Minister Li Qiang, who took office in March, has talked a fair game about implementing measures to stimulate markets and boost markets, but few measures have been announced and investors are holding back.
“Looking ahead, the headwinds facing foreign institutions remain strong, which requires policies to support domestic demand,” said Zhou Hao, an economist at Guotai Junan International.
South Korea’s exports to China, an indicator of China’s exports, fell 19.0% last month, the slowest drop since October but showing that demand for semiconductors and other materials used to make electronics remains weak.
Demand for raw materials also showed weakness, with copper prices down 16.4% in June compared to a year earlier.
China’s industrial activity has slowed in recent months, with consumer prices falling slightly in June and producer prices falling at their fastest rate in more than seven years.
The government has set a target of growing GDP by around 5% this year, having badly missed the 2022 target.


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