Posted 1/15/2024, 1:00:01 PM
China's Exports Drop in 2022 Amid Economic Headwinds and Shifting Trade Relationships
- China's exports dropped in 2022 for the first time since 2016 amid slowing global growth
- China is facing economic troubles including slower growth, a weak property market, and limited access to key technologies
- China's imports also fell in 2022, with the US replacing China as top trading partner for Mexico
- December exports rose slightly, but still mark the first annual decline in 7 years
- China's economic growth fell short of its 5% target, widening gap with the US economy