China’s exports are down 14.5 percent year-over-year, imports down 12.4 percent. July 2023 exports plunged 14.5% YoY, the steepest dip since Feb 2020, following a 12.4% fall in June, hinting at plummeting global demand. Economists polled by Bloomberg had forecast that exports would drop 13.2% while imports would shrink 5.6%. China disguises some shipments to escape US tariffs by routing the trade through other counties making miniscule improvements. In case you missed it, please see Flashback Hoot of the Day: When Will China Overtake the US?

Source: New York Times August 08, 2023 22:09 UTC