Connect with us

World

China’s exports fell last month in lead up to next month’s trade talks

Published

 on 

China’s exports fell 1% on-year last month amid the bruising trade war with the US that is disrupting markets in the world’s top two economies. The drop comes after a surprise 3.3% rebound in July despite the year-long battle with the US and weakening global demand.

But economists cited by Bloomberg had forecast a 2.2% rise ahead of the release of yesterday’s figures by the customs administration.

China’s trade surplus also dropped sharply in August to US$34.83 billion, from $44.58 billion the previous month, while imports continued a four-month decline at 5.6% on-year, matching the July figure.

Washington imposed new tariffs on September 1 as it stepped up its high-pressure campaign to coerce Beijing into a new trade deal. The additional levies come on top of the 25% tariffs on $250 billion in imports already in place.

China announced last week that new talks with the US would be held in Washington in early October.

In a sign of continued pressure on the Chinese economy, Beijing’s central bank announced on Friday it would cut deposit reserve requirements for banks. The measure would allow an estimated $126 billion in additional loans to businesses facing an economic slowdown.

China’s GDP growth was 6.2% on-year in the second quarter, the lowest rate in nearly three decades, although many western economies would have been delighted to even be in positive territory in the current circumstances.

SOURCE: AFP

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Follow Thaiger by email:

Thailand39 mins ago

Man arrested for spycam porn, 39 videos feature Thai stars

Thailand44 mins ago

Is poor English proficiency holding Thailand back?

Thailand44 mins ago

Shopee stops all bank payments after hackers steal from customer in Thailand

Sponsored9 hours ago

Challenges of starting a business in Thailand as a foreigner

Thailand47 mins ago

Thailand News Today | CAAT warns Thai VietJet for canceling three Phuket

Crime1 hour ago

Cat killer feels no guilt over sadistic act

Koh Samui2 hours ago

Koh Samui’s Moving Market – a hidden local treat

Join the conversation on the Thaiger Talk forums today!
Visa2 hours ago

Thailand’s 10 year LTR visa most popular among Americans and Chinese

Politics2 hours ago

Thailand PM wants to groom successor in two years

Bangkok3 hours ago

VIDEO: Taxi meter rises suspiciously quickly in Bangkok, Thailand

Thailand4 hours ago

Man wins 144 million baht in Thailand’s lottery

Bangkok4 hours ago

Plumber murders and robs Thai woman in Bangkok

Drugs4 hours ago

Man returns for bag with meth pills he left at restaurant

Transport5 hours ago

Porsche sales in Thailand roaring thanks to nation’s entrepreneurs

Visa5 hours ago

Overstay crackdown uses facial recognition tech

Thailand6 hours ago

Father dies trying to save son from teenage gang

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending