China reported another monthly decline in imports and exports today. China’s exports have dropped for the fourth month in a row as it struggles with weak demand at home and abroad. Exports fell by 8.8% in August compared with a year earlier, while imports dropped by 7.3%.
China is facing several post-pandemic challenges, including a property crisis and weak consumer spending. There has been a slump in global demand for Chinese-made goods in the wake of coronavirus and the ongoing trade dispute with the US. It is having a major impact on a key source of growth for the country’s economy.
Ahead of the publication of the trade figures, Chinese state-run newspaper The Global Times ran a story criticising negative comments by Western politicians and media about the country’s economy.