Imports to China decreased by 12.4% YoY to USD 201.16 billion in July. This was the sixth time of decline in inbound shipments in 2023 and the steepest decrease since January. This news is a bad sign for the US and Japanese economies as well, because imports were down from the US 11.2%, from Japan 14.7% while from the EU 3.0%.
Exports fell 14.5% YoY last month.
US interest rates, Chinese and US equities drop and bonds rise this morning as recession fears intensify.
Sources: General Administration of Customs; https://lnkd.in/e4RjAiSE
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