$126 billion in Chinese exports last month. The number is 25 percent lower than February last year, and is also lower than the 15 percent drop predicted by economists.
Reduced exports, combined with reduced imports (down 14 percent from last February) and the recent announcement by the Chinese PM that growth in the country would now be a “battle” have economists reassessing China’s status as “the world’s factory” and “the engine of global growth.”
China seems to be both selling and buying less internationally. The Chinese government this year revised its growth target for 2016, reflecting the slowest economic growth in the country in 25 years.
By Justin Munce