China's August exports slow amid US tariff tensions
Chinese exports have increased at the slowest pace in six months, indicating a slowdown in trade growth which could impact the global economy.
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Global Markets Mixed Amid U.S. Tech Rally and Tariff Concerns
Asia-Pacific markets traded mixed amid global economic concerns, with Bitcoin reaching a new high above $120,000, while Chinese exports exceeded expectations and Japanese bond yields rose. Investors are assessing the impact of recent tariffs imposed by the US on the EU and Mexico, and economic data from the region shows mixed signals, including averted recession in Singapore and fluctuating stock indices.
"Booming Orders and Trade Concerns: Highlights from the 135th Canton Fair"
Chinese exporters at the Canton Fair in Guangzhou express despair over plummeting profit margins and bleak business prospects, with some comparing the prices of their goods to "cabbage." Economic and political tensions between Beijing and Washington, global trade slowdown due to conflicts in Ukraine and the Middle East, and excess manufacturing capacity are contributing to the challenges. While some higher-tech manufacturers remain optimistic, others are concerned about potential further trade tensions with the United States and Europe.
"Russian Defense Forces Intercept Chinese-Made Battlefront Drones Near Moscow"
Chinese drone manufacturer DJI's products continue to be sold to Russian entities linked to Moscow's war effort in Ukraine, despite DJI's previous announcement to stop doing business in Russia and Ukraine. Research shows that DJI's low-cost drones are being purchased by Russian companies and training centers associated with the military-industrial complex, with some openly stating that they are training Russian military personnel for the war in Ukraine. The findings raise questions about the effectiveness of Chinese efforts to restrict the sale of drones and other dual-use technologies, as Ukrainian imports have sharply fallen while Russian imports remain strong. The flow of Chinese-made drones to Russia is aiding the Kremlin's invasion of Ukraine and contributing to the ongoing conflict.
China's Export Plunge Deepens, Dashing Recovery Hopes
Chinese exports have experienced their sharpest decline since February 2020, reflecting the ongoing economic downturn caused by the global trade tensions and the impact of the COVID-19 pandemic.
Global Trade Concerns Rise as Chinese Exports Slow Down
Chinese export growth slowed in April due to a cooling global trade, highlighting the importance of domestic spending as the main engine for the world's second-largest economy. The figures add to signs of softness in global trade as spending slows in the US and Europe, with many economists expecting recessions in advanced economies later this year. Consumers and businesses are confronting steepening interest rates, persistent inflation, and pockets of instability in the banking sector.
China's Exports Rebound, Fueling Economic Recovery
Chinese exports have rebounded strongly in the wake of the coronavirus pandemic, with shipments up 9.5% in August compared with the same month last year. The surge in exports is a sign of China's economic recovery and has been driven by demand for medical supplies and electronics. The data also suggests that global trade is beginning to recover, despite ongoing uncertainty caused by the pandemic.