Did China’s exports growth wane in August?
China’s exports have been a rare bright spot for the economy, which has been battered by Covid-19 lockdowns. The country’s surplus in July confounded experts, jumping to a record of more than $101bn, boosted by a bigger-than-expected 18 per cent increase in exports.
Imports missed expectations, however, rising just 2.3 per cent compared with the same period a year before, suggesting sustained weakness in domestic demand in the country.
The economy took a further hit in August as heatwaves and droughts led to power shortages and led several provinces and cities to suspend or restrict electricity supplies to factories.
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