Chinaâ€™s exports moderated
Susan Joho, Economist, Julius Baer
This morning’s Chinese trade data for July disappointed market consensus expectations. Both yearly export and import growth moderated in comparison with the previous month, against expectations for remaining just as strong. That is in contrast with strong trade data from South Korea and Taiwan, which usually go in sync due to the Asian supply chain. Export growth to the US almost halved amidst tensions over China’s large trade surplus with the US.
July export and import growth slowed against expectations for remaining strong, sparking concerns over a cooling of world trade, as China’s growth could start to moderate slightly from now.