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China’s Trade Rose in Yuan Terms in June Amid Worsening Virus
China’s exports and imports rose in yuan terms in June, even as the pandemic continued to ravage the global economy. Exports grew 4.3% in yuan terms in June from a year earlier, while imports rose 6.2%, the customs administration said Tuesday. Economists had forecast that exports would increase by 3.5% while imports would shrink by 4.7%. Values in dollars are due for release shortly. Key Insights With countries such as the U.S. still unable to control the outbreak, there’s no sign of when global demand for Chinese exports will recover sustainably to pre-virus levels. The deterioration of relations with the U.S. ... (full story)