A worker stands on pipes at an offshore oil engineering company in Qingdao, in China’s eastern Shandong province. (STR/AFP/Getty Images)
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China’s Export Fall Is The Worst Since 2009 As Prospects Are Set To Remain Dim
China’s exports for 2016 recorded a 7.7 per cent fall, and imports 5.5 per cent, in what is the second successive decline in exports for the world’s largest trading nation, reported Reuters. This also happens to be China’s worst export fall since the time of the global financial crisis of 2009.
The prospects for China’s exports don’t look bright in 2017 because of a possible trade war with the United States -- especially if President-elect Donald Trump’s tough talk on China turns to action -- and a persistently weak global demand.
China’s customs agency spokesman was quoted by Reuters as saying,
The trend of anti-globalization is becoming increasingly evident, and China is the biggest victim of this trend...We will pay close attention to foreign trade policy after Trump is inaugurated president.