1stRambo
Gold Member
- Feb 8, 2015
- 6,221
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Yo, if you wish to know how the U.S.A Economy is doing? Just look at China!!! We can all learn the truth!!!
China trade shrinks in latest sign of economic weakness
By KELVIN CHAN
Sep. 8, 2015 2:23 AM EDT
HONG KONG (AP) — Chinese exports and imports contracted in August in the latest sign of weakness for the world's second-biggest economy.
Customs data posted online Tuesday showed that shipments of goods last month shrank 5.5 percent in dollar terms compared with a year earlier while imports tumbled by 13.8 percent.
Julian Evans-Pritchard of Capital Economics predicted that trade growth would improve over the next few months because August's figures were hit by disruption from a massive explosion at the busy Tianjin port and government enforced factory shutdowns in the run-up to a huge military parade in Beijing last week.
But the trade data along with other recent weak indicators will add further pressure on China's communist leaders as they try to keep the economy from slowing too fast and shedding too many jobs.
China's legions of export-oriented manufacturers have powered the country's remarkable economic ascent but growth is stalling amid waning global demand. The manufacturing industry's woes are compounded by Beijing's efforts to guide the economy away from trade and investment toward growth based on slower, self-sustaining domestic consumption.
China trade shrinks in latest sign of economic weakness
"GTP"
China trade shrinks in latest sign of economic weakness
By KELVIN CHAN
Sep. 8, 2015 2:23 AM EDT
HONG KONG (AP) — Chinese exports and imports contracted in August in the latest sign of weakness for the world's second-biggest economy.
Customs data posted online Tuesday showed that shipments of goods last month shrank 5.5 percent in dollar terms compared with a year earlier while imports tumbled by 13.8 percent.
Julian Evans-Pritchard of Capital Economics predicted that trade growth would improve over the next few months because August's figures were hit by disruption from a massive explosion at the busy Tianjin port and government enforced factory shutdowns in the run-up to a huge military parade in Beijing last week.
But the trade data along with other recent weak indicators will add further pressure on China's communist leaders as they try to keep the economy from slowing too fast and shedding too many jobs.
China's legions of export-oriented manufacturers have powered the country's remarkable economic ascent but growth is stalling amid waning global demand. The manufacturing industry's woes are compounded by Beijing's efforts to guide the economy away from trade and investment toward growth based on slower, self-sustaining domestic consumption.
China trade shrinks in latest sign of economic weakness
"GTP"