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China’s Exports to the US Decline While Shipments to Russia Surge

China’s exports to the US shrank for the first time in more than two years while shipments to Russia surged, adding to evidence that slowing economies and the war in Ukraine are shifting global trade flows along geopolitical fault lines.

Total exports in US dollar terms expanded 7.1% last month from a year earlier, the slowest pace since April when a lockdown in Shanghai disrupted shipping, and far weaker than economists had predicted. Imports grew just 0.3%, leaving a trade surplus of $79.4 billion. (Click here for the full story.)