Chinese imports and exports growth don’t get to the expected level in the last month, causing alarm of whether global consumption is on the wane as central banks of the leading Western countries mull over contraction of stimulus support that they have carried out on a grand scale for the past years.
China and EU played a major role in the global growth in 2017 while political dissent corners stimulus policies promoted by the US President.
And though China's total trade went on rising at a robust pace of 8.8% in July, still it was the worst figures this year.
A number of economists linked weaker results to seasonal factors or singular occasions, others disagree and see in the slower import growth the initial signals for the anticipated slowdown in Chinese economy following unexpectedly high results in the first six months.
R. Yeung, chief economist at ANZ in Hong Kong, said that there’s nothing to be troubled about the foreign demand in terms of the prospects, but the imports is what needs to be paid attention to. He added though that bad financial environment might have had an influence.
As today’s official reports demonstrate, export growth reduced to 7.2% in July, following June’s 11.3%. Experts were giving forecasts of 10.9% rise.