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Chinese Imports Drop as Growing Tensions With U.S. Cloud Trade

  • Weak imports now suggest weak exports ahead: Nomura Holding
  • Exports to the U.S. fell 4.2% in May for second monthly fall
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Jeremy Lawson, chief economist at Aberdeen Standard Investments, discusses China’s trade balance data and the yuan.(Source: Bloomberg)
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China’s imports tumbled in May and a surprise rise in exports wasn’t enough to dispel concerns that the economic dispute with the U.S. will intensify and damage the global economy.

Imports declined by 8.5% in May from a year earlier, according to the customs administration, more than double the forecast drop. While exports rose 1.1% compared to an expected decline, shipments to the U.S. fell for a second month.