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China Trade Shrinks Amid Virus Pressure, Interest Rate Hikes

Started by Epoch-Times-Bot, Dec 08, 2022, 03:15 AM

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Epoch-Times-Bot

China Trade Shrinks Amid Virus Pressure, Interest Rate Hikes

BEIJING—China's imports and exports shrank in November under pressure from weakening global demand and anti-virus controls at home.
Exports sank 9 percent from a year ago to $296.1 billion, worsening from October's 0.9 percent decline, customs data showed Wednesday. Imports fell 10.9 percent to $226.2 billion, down from the previous month's 0.7 percent retreat in a sign of a deepening Chinese economic slowdown.
The country's global trade surplus narrowed by 2.5 percent from a year earlier to $69.9 billion.
Trade had been forecast to weaken as global demand cooled following interest rate hikes by the Federal Reserve and central banks in Europe and Asia to rein in surging inflation....

Source: China Trade Shrinks Amid Virus Pressure, Interest Rate Hikes


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