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Surprisingly, Chinese exports fell at the fastest pace recorded in two years in December, while imports also contracted, indicating further weakness in the second economy in 2019 and declining world demand.
Data released on Monday also showed that China had the largest trade surplus with the United States in 2018, which could lead US President Donald Trump to intensify threats to Beijing in its trade dispute.
- Understanding the trade war and its possible consequences
Some badysts have already speculated that Beijing may need to accelerate and intensify its policy of slackening and economic recovery following the contraction of the economy. industrial activity in December.
Chinese exports unexpectedly declined 4.4% in December from the previous year, as demand in most of its major markets weakened. Imports also surprised, down 7.6%, the sharpest decline since July 2016.
Analysts had expected export growth to fall 3%, as imports rose 5%.
"The current data show the end of the postponement of shipments and the beginning of the rebound effects, while the global slowdown could also weigh on Chinese exports," wrote Nomura economists in a note evoking the effects of the new economy. increased shipments to the United States for most of last year, as companies were eager to anticipate tariffs.
Chinese stock indexes closed lower on Monday, after the data focused on concerns about the economic slowdown and weak global demand. The CSI300 index, which includes the largest listed companies in Shanghai and Shenzhen, fell 0.87%, while the Shanghai index fell 0.71%.
Surplus with the increase of the United States
The surplus of China with the United States increased by 17.2% last year, to establish at $ 323.32 billion, the highest level since 2006, according to Reuters calculations. based on customs data.
China's large trade surplus with the United States has long been a sore point with Washington, which has asked Beijing to take action to reduce it with vigor.
Chinese exports to the United States increased by 11.3%, while imports barely increased by 0.7% over 2017, when the trade surplus rose to 276 billion US dollars, according to France Presse.
However, White House measures have an impact, as Chinese exports to the United States stalled last month.
This data, published by the China Customs Administration, is published after a US delegation made a three-day visit to Beijing last week during the first meeting in front of face between representatives of both countries since the agreement of Donald Trump and Xi Jinping. with a truce of 90 days to resolve the crisis in December.
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