China’s trade report for December was underwhelming to say the least. Imports and exports recorded the largest year-ended contraction since the second half of 2019. If Apple’s share price is any guide, the decline in Chinese exports is likely to get worse before it gets better. ANZ Bank says it’s now “likely” that China will experience a trade recession.
Even with low expectations heading into its release, China’s December trade report was a horror show.
From a year earlier, the value of exports and imports tumbled by 7.6% and 4.4% respectively in US dollar terms, coming in well below market expectations that were actually centered around a modest increase.See the rest of the story at Business Insider
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