Economics
China Import Slump Casts Gloom Over World Buffeted by Trade War
- September imports plunge 8.5% as trade surplus surges
- Chinese firms may be replacing components with local goods
This article is for subscribers only.
China is buying less from the rest of the world, pushing its trade surplus higher and dragging on global economic growth.
Imports in the world’s second-largest economy dropped 8.5% in September for a ninth decline in the past 10 readings, while exports decreased 3.2% in dollar terms from a year earlier. That left a trade surplus of $39.65 billion for the month, with the total for the first nine months jumping 36% to $298 billion.