Chinese Exports Fall at Steepest Pace Since February 2020

[F-22Raptor]

HONG KONG—China’s exports to the rest of the world tumbled in July, adding to the challenges for the world’s second-largest economy and offering fresh evidence that a drying up of Western demand is hurting Beijing’s attempts to rekindle growth.

After a short-lived rebound in the spring, goods exports from China resumed a long-term slide that dates to October last year, when consumers in Western developed countries began shifting their spending away from buying furniture and electronic gadgets, and instead diverted it toward services such as entertainment and dining out.

Chinese Exports Fall at Steepest Pace Since February 2020

Slide in outbound shipments reflects China’s fraying trade ties with the Western world, even as exports to Russia boom.

www.wsj.com

 

[Menthol]

The world economy is falling everywhere.

As we can see by using China export as indicator.

Governments around the world spend a lot of money during Covid-19, now the effect is starting to bite back.

It could last for a decade.