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China’s November imports, exports plunge due to Covid rules
China’s imports and exports plunged in November to levels not seen since early 2020, official figures showed Wednesday, as severe Covid restrictions hit the economy hard. The last major economy still wedded to a zero-tolerance virus policy, Beijing’s snap lockdowns, travel curbs and mass testing have stifled business activity, disrupted supply chains and dampened consumption. Imports in November fell 10.6 percent year-on-year, the biggest drop since May 2020, according to the General Administration of Customs. Meanwhile, exports fell 8.7 percent over the same period – the steepest decline since February 2020, ... (full story)