China’s Trade Suffers Worst Slump.

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In November, China’s exports and imports declined at their fastest rate in at least two and a half years as the country’s second-largest economy was put under strain by weak domestic and international demand, production disruptions brought on by COVID, and a downturn in the country’s real estate market.

Economic experts are predicting a further period of declining exports, underscoring a sharp retreat in global trade as consumers and businesses cut spending in response to central banks’ aggressive moves to tame inflation. The downturn was much worse than markets had anticipated.

The government has responded to the weakening economic growth by rolling out a flurry of policy measures over recent months, including cutting the amount of cash that banks must hold as reserves and loosening financing curbs to rescue the property sector.

 China’s economy grew just 3% in the first three quarters of this year, well below the annual target of around 5.5%.


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