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China has suffered its first contraction in international trade since May 2020, early in the pandemic, in a sign that the global economy is slowing.
Exports and imports unexpectedly contracted in October, as Chinese firms were hit by Covid-19 curbs at home and the global slowdown.
“The weak export growth likely reflects both poor external demand as well as the supply disruptions due to Covid outbreaks.
“I expect export growth to remain weak in the next few months as the global economy slows.”
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