China’s Exports and Imports Fall, Dismal Outlook for World Economy
China's exports have fallen, which has raised concerns in the global market. During the month of December exports saw the largest drop in two years, indicating China's economic power is weakening in 2019 with a smaller global demand, according to a recent article by Reuters.
Along with this sharp decline, China posted its largest trade surplus with the U.S. on record in 2018. Coupled with the already heated trade war between the U.S. and China, the feud may continue with more disdain further into 2019. Much of the tension and less demand comes from the slowing sales of iPhones and automobiles.
The December exports from China fell 4.4% from 2017 as demand in its major markets continued to weaken. While exports saw the biggest upset, imports didn't perform well in December either, falling 7.6%—China's biggest decline since July 2016.
Given this decline, Beijing is planning to lower its economic growth target for the upcoming year. The target will now sit between 6% and 6.5% after an expected 6.6% in 2018—the country's slowest pace in nearly 30 years.
—Christie Citranglo, editorial associate