No Surprise for China’s Slumping Imports?
China’s imports extended the longest losing streak in six years, underscoring the headwinds to global growth from a rebalancing in the world’s second-largest economy. Asian shares, copper, the yuan and the Australian dollar weakened. Imports plunged 17.7 percent in yuan terms in September from a year earlier, widening from a 14.3 percent decrease in August and an 11th straight decline. Exports fell 1.1 percent in September in yuan terms, the customs administration said Tuesday, compared with a 6.1 percent drop in August.