It didn't get enough press coverage in my opinion. So I put it here to an audience that can evaluate the importance.
In July, Chinese exports dropped by 14.5% (YoY), following a 12.4% decrease in June, as reported by the country's customs authority. Economists polled by the Wall Street Journal had anticipated a 12.0% decline. Meanwhile, imports decreased by 12.4%, a more significant drop than the 6.8% seen in June, and more than the 5.0% decrease expected by economists.
That's a collapse! Nada mas.
Thanks Tom
Un placer. Greets
Do you have any significant links with these numbers?
The economies that China exports to, like USA and Europe seem to be close to a recession. Growth has been slowing down.
So it might be the case that they are demanding /buying less of China’s stuff.
Maybe this article brings some light into the dark:
https://www.asiafinancial.com/chinas-trade-to-the-us-and-eu-sank-further-in-july-data-shows
Quote:
While the weakness in the value of imports reflects poor demand, falls in commodities prices have also exacerbated the headline declines, analysts say.
“Most measures of export orders point to a much greater decline in foreign demand than has so far been reflected in the customs data,” Julian Evans-Pritchard, head of China economics at Capital Economics, said.
“And the near-term outlook for consumer spending in developed economies remains challenging, with many still at risk of recessions later this year, albeit mild ones.”
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Let's hope for some reason and change in politics...