China’s exports rapidly declined last month as part of an economic downturn unseen since the beginning of the COVID-19 pandemic.
Chinese policymakers are under pressure to implement new stimulus measures in light of the challenges that the global economy is currently experiencing.
The first quarter saw a momentary pickup in China’s economic recovery following the pandemic, but this has fallen consistently since, with analysts predicting a gloomy outlook for the rest of the year. Progressively weakened global demand has also stifled the country’s factory output.
Data from China’s Customs Bureau on July 13 showed exports dropped by 12.4 percent year-on-year in June. This was preceded by a 7.5-percent drop in May….