Trade data from China on Tuesday showed a sharp drop in the value of both imports and exports, amplifying concerns about ripple effects from the country’s economic slowdown into developed economies.
Decelerating economic growth not only means China is buying less from overseas but reaping less money from its shipments too, as prices fall and buyers in markets such as Europe and Japan curb purchases.
The value of imports fell 14.3 per cent year-on-year in renminbi terms in August, a steeper decline than July’s 8.6 per cent fall, the 10th consecutive fall and the worst showing since May.
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