(Bloomberg) -- China’s export engine, vital for keeping the country’s growth target of around 5% within reach, is now threatened by signs of sagging US...
-- China ’s export engine, vital for keeping the country’s growth target of around 5% within reach, is now threatened by signs of sagging US demand, just as Beijing is also struggling to jolt its own consumer economy.New Yorkers Across Political Spectrum Back School Cell Phone Ban
“For China policymakers, their bottom line is to defend their growth target,” said Larry Hu, head of China economics at Macquarie Group Ltd. “If China can no longer rely on export growth, they’re going to switch back to domestic demand.”“China’s unexpected export slowdown in July suggests foreign trade — the recovery’s key prop last quarter — may lend less support to 3Q GDP.
Goldman Sachs Group Inc. economists now see a one-in-four chance of the US sliding into recession, raising the probability from 15%. “This positions China as particularly vulnerable to a global manufacturing slowdown due to the interconnected nature of global trade,” she said. The ruling Communist Party last month pledged to make consumer spending a higher policy priority. And on Saturday, the government released a 20-step action plan to encourage more spending on services, though it offered little in the way of financial incentives to rev up domestic demand.
China Domestic Demand External Demand Demand Shock Growth Target Chinese Exports Export Growth
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Climate change imperils drought-stricken Morocco’s cereal farmers and its food supplyKENITRA, Morocco (AP) — Golden fields of wheat no longer produce the bounty they once did in Morocco. A six-year drought has imperiled the country's entire...
Read more »
B.C. Insider: Landslide resculpts Chilcotin River, imperils salmon runsAbout a dozen properties have been evacuated as the provincial government aims to keep people away from the water
Read more »
Video shows suspects ramming gate at Bridle Path home, stealing BentleyA family in Toronto’s Bridle Path neighbourhood said their home was targeted by intruders for the second time in two years after suspects were captured on video crashing into a metal gate and stealing a luxury car from the property earlier this week.
Read more »
Video shows suspects ramming gate at Bridle Path home in broad daylight, stealing BentleyA family in Toronto’s Bridle Path neighbourhood said their home was targeted by intruders for the second time in two years after suspects were captured on video crashing into a metal gate and stealing a luxury car from the property earlier this week.
Read more »
Central banks are turning the ship, but their path is unclearThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Central banks are turning the ship, but their path is unclearDecisions by major central banks this week brought the end of pandemic-era monetary policy into closer view, but also highlighted how long the road back to '...
Read more »