China exports fall for the fourth month in a row

A worker makes lift parts at a workshop in Hai 'an, Jiangsu Province, China.

authored by Peter Hoskins

writer for business

As the” country’s factory” struggles with sluggish requirement at home and abroad, China has seen a third consecutive month of declining exports.

According to official statistics, imports decreased by 7.3 % and exports by 8.8 % in August compared to the same period last year.

However, compared to the previous quarter, those drops were not as awful as anticipated.

A home crises and low consumer spending are just two of China’s post-pandemic challenges.

A significant effect on a crucial source of growth for the nation’s economy is being had by sluggish global demand for Chinese-made products.

Is the Chinese market a” ticking time bomb”?

According to a recent US Census Bureau report released on Wednesday, China’s exports of US products reached their lowest point since 2006 through the end of July.

Over the course of the time, the share of imported goods from China was 14.6 %. This is down from a maximum of 21.8 % in the year to the end of March 2018, when President Donald Trump intensified the trade dispute between the US and China.

Due to some of the country’s largest developers’ financial difficulties, the real estate market in China is also experiencing a worsening depression, according to Chinese authorities.

Beijing has so far refrained from implementing a sizable stimulation program to stimulate the economy.

Alternatively, it has chosen to implement a number of policies in recent months to support individuals and organizations.

Additionally on Thursday, the Commercial Bank of China and the Agricultural Bank for China, two of the nation’s largest state institutions, announced plans to lower interest rates on current mortgages starting on September 25 for first-home money.

Foreign state-run magazine The Global Times ran a story on its English-language website criticizing negative remarks made by American politicians and media about the nation’s economy prior to the publication of the industry figures.

It stated that despite some difficulties and challenges brought on by the effects of the global economic slowdown, the Chinese economy is actually recovering also thanks to growing development and green development momentum.