China's exports tumbled the most in three years in February while imports f...
BEIJING - China’s exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the economy and stirring talk of a “trade recession”, despite a spate of support measures.
Global investors and China’s major trading partners are closely watching Beijing’s policy reactions as economic growth cools from last year’s 28-year low. But the government has vowed it will not resort to massive stimulus like in the past, which helped revive demand worldwide. That left the country with a trade surplus of $4.12 billion for the month, much smaller than forecasts of $26.38 billion.
But they noted that export momentum on a three-month basis has moderated significantly since the third quarter last year and said “growth is likely to remain soft in the near future.”The increasingly weak China data comes amid months of intense negotiations between Washington and Beijing aimed at ending their trade dispute.
Trump postponed a sharp U.S. tariff hike slated for early March as the talks progressed, but both Washington and Beijing have kept previous duties in place.
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