Chinese exports saw the steepest fall in three years in February, adding to worries about growth in the world’s second largest economy.<\/p>\n\n\n\n
Official data show exports from China plunged 20.7% from a year earlier, as its trade war with the US took a toll.<\/p>\n\n\n\n
Imports fell 5.2% and the figures sent Asia stock markets sharply lower.<\/p>\n\n\n\n
Economists caution the data for the first two months of the year can be affected by the Lunar New Year holiday.<\/p>\n\n\n\n
The fall in exports was far bigger than the 4.8% drop forecast in a Reuters poll of economists.<\/p>\n\n\n\n
Imports also saw a sharper than expected fall of 5.2% year-on-year, the data showed.<\/p>\n\n\n\n
Julian Evans-Pritchard, Senior China Economist at Capital Economics said even accounting for seasonal distortions, the figures were “downbeat”.<\/p>\n\n\n\n
“Tariffs are weighing on shipments to the US,” he wrote in a research note.<\/p>\n\n\n\n
The US and China have placed tariffs on billions of dollars worth of one another’s goods since July,<\/a> casting a shadow over the global economy.<\/p>\n\n\n\n Even though officials have sounded more positive about negotiations with the US recently, failure to achieve a deal would see tariffs on $200bn (\u00a3152bn) of Chinese goods rise almost immediately and could see the US impose fresh tariffs.<\/p>\n\n\n\n Still, Mr Evans-Pritchard said “broader weakness in global demand means that, even if Trump and Xi finalise a trade deal soon, the outlook for exports remains gloomy.”<\/p>\n\n\n\n The data comes as Beijing this week\u00a0unveiled $298bn worth of tax cuts<\/a>\u00a0to boost slowing growth.<\/p>\n\n\n\n <\/p>\n\n\n\n SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Chinese exports saw the steepest fall in three years in February, adding to worries about growth in the world’s second largest economy. Official data show exports from China plunged 20.7% from a year earlier, as its trade war with the US took a toll. Imports fell 5.2% and the figures sent Asia stock markets sharply lower. Economists caution the data… Read more »<\/a><\/p>\n","protected":false},"author":135,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[7,59,157,137,33],"class_list":["post-3254","post","type-post","status-publish","format-standard","hentry","category-article","tag-china","tag-exports","tag-trade","tag-trade-war","tag-us"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/3254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/users\/135"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/comments?post=3254"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/3254\/revisions"}],"predecessor-version":[{"id":3255,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/3254\/revisions\/3255"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/media?parent=3254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/categories?post=3254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/tags?post=3254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}