Though the US-China trade war has deeply affected the global economy but Chinese exports surprisingly rose in the month of July despite fears of fall.
The official figures saw a 3.3% growth in comparison to the expected 2% drop. Chinese imports decline 5.6% below than forecasted 8.3% fall.
Despite the rise in exports, China’s economy is still under huge pressure. The US announces to impose a fresh round of tariffs on Chinese imports from next month. According to Senior China Economist, Julian Evans-Pritchard, exports will continue to subdue in the future.
After the failure of US-China trade talks, US levied tariffs of $300bn on Chinese imports, starting from 1 September. Strains further build up between two largest global economies after the United States accused Beijing as currency manipulator over yuan sharp fall against the dollar.
Chinese Central Bank Governor Yi Gang rejected its country’s involvement in competitive devaluations.
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