China, Trump and Economy
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2don MSN
China's exports beat expectations in June as businesses continued to rush out shipments to capitalize on a temporary tariff reprieve ahead of an August deadline.Exports jumped 5.8% in June in U.S. dollar terms from a year earlier,
Chinese state firm employee Zhang Jinming makes up for a 24% cut to his salary by delivering food for three hours every night after work and on weekends - and hopes he can avoid awkward encounters with colleagues.
The new restrictions will limit exports of technologies crucial for producing EV batteries and processing their raw materials.
The rate, which slightly exceeded the 5.1 per cent average estimate from analysts polled by Reuters, positions Beijing to hit its full-year target of about 5 per cent. It shows how China has been able to keep growth on track through exports and investment even as it struggles with weak demand at home.
China has reported its exports accelerated in June as a reprieve on U.S. tariffs prompted a rush of orders by companies and consumers.
China racked up record steel exports in the second quarter, as flows from the world’s top producer defied expectations for volumes to fade under a barrage of trade measures from Asia to Europe.
China’s economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, though analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.
In the first half of the year, the world's second-largest economy expanded by 5.3 percent, the NBS said Tuesday.