China, the world’s biggest exporter, delivered a gloomy prognosis for the global economy, warning that falling foreign demand would result in weaker trade at home this year.
The warning came as the country’s customs office revealed better than expected trade in December, the same month the renminbi saw its second steepest fall since 2005.
Economists hailed the improved Chinese export data in December, saying a widening trade surplus could lend support to the renminbi, where declines this month have sparked a stock market sell-off.
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