Japan's exports fell in July for the first time in nearly 2-1/2 years, driven by weak demand for light oil and chip-making equipment and raising concerns about a global recession as the demand in key markets such as China weakens.
Hong Kong's exports continue to decline for the 15th consecutive month, with a 9% decrease in July, due to trade contraction with mainland China, the US, and Europe, affecting the city's economic recovery and prompting a downgrade in GDP forecast.
Thailand's tourism and exports, particularly in the chemical and plastic sectors, are expected to decline due to the economic slowdown in China caused by the real estate crisis, leading to a significant decrease in the number of Chinese tourists visiting Thailand and affecting the country's overall economy.
China's economy is facing multiple challenges, including tech and economic sanctions from the US, structural problems, and a decline in exports, hindering its goal of becoming a top global exporter and tech power, which could have long-lasting effects on its status in international relations and the global economy.
Vietnam's exports have declined for the sixth consecutive month due to weaker global demand and China's deteriorating economic outlook, posing a risk to the country's GDP growth target.
China's economy is struggling due to an imbalance between investments and consumption, resulting in increased debt and limited household spending, and without a shift towards consumption and increased policy measures, the economic slowdown may have profound consequences for China and the world.
Even as the United States tries to reduce its reliance on Chinese goods, research suggests that global supply chains remain deeply interconnected, with Chinese products making their way into America through other countries. Changes in trade relationships and supply chains have caused China's share of US imports to decline, but countries like Vietnam and Mexico have seen an increase in imports from China, indicating that Chinese firms are still heavily involved in the supply chains. This reshuffling of supply chains has led to higher prices for goods and calls into question whether the US has truly lessened its dependence on China.
South Korea's exports are likely to have fallen for the 11th consecutive month in August due to a slower Chinese economy and weakening demand in other regions.
China's factory activity contracted for the fifth consecutive month in August, indicating that the slowdown in the country's economy has not yet reached its lowest point.
If China were to slip into a deflationary spiral like Japan in the 1990s, it could lead to a decrease in consumer spending, a weakened economy, and negative consequences for the rest of the world, including a slowdown in imports for the US and adverse effects on developing economies reliant on Chinese exports and investment.
China's economy is portrayed as irrecoverably declining in the eyes of Western mainstream media.
China's services sector experienced a slowdown in business activity, resulting in the lowest level in eight months, as weaker foreign demand and sluggish overseas orders impacted consumption, despite economic stimulus efforts.
China's exports are expected to contract at a slower pace in August, with a projected fall of 9.2%, as manufacturers continue to face pressure due to weak overseas demand and a shrinking labor market.
China's share of US goods imports has dropped to its lowest level since 2006, as American companies reorganize supply chains to reduce dependence on China and shift to countries like Mexico and Vietnam.
China's exports fell for the fourth consecutive month in August, indicating ongoing challenges for the economy despite a marginal improvement, as weak external demand and global supply chain disruptions continue to impact the world's second-largest economy.
China's total import and export value in the first 8 months of this year slightly decreased by 0.1 percent compared to the previous year, but exports have continued to grow and the global market share remains stable, highlighting the overall stability of China's foreign trade operations.
The decline in Chinese imports into the U.S. is impacting steel prices and raising concerns about sourcing steel and other metals.
China's foreign ministry rejects claims from the West that its economy is faltering, stating that the country's economy is resilient and has not collapsed.
Big Japanese manufacturers and the services sector in Japan are experiencing a decline in confidence, with concerns of a slowdown in China's economy affecting global and domestic growth, according to a Reuters poll. The weak sentiment in the business sector raises doubts about the ability of exports to drive economic recovery amid weak domestic demand. Many companies cited high input costs and weak demand as contributing factors, along with geopolitical risks and tensions between the US and China.
China's economy is facing potential decline due to high debt levels, government interference, and an aging population, with warnings of a full-blown financial crisis echoing the 2008 US recession. Failure to liberalize the economy could have long-term consequences, as foreign investments are restricted and the lack of capital inflow and outflow could harm businesses.
China's economic model is in decline and will have a significant impact on global markets, according to veteran investor David Roche, who predicts long-term struggles for manufacturing-based economies and warns of potential social unrest and geopolitical problems.
Japan's exports to China declined for the ninth consecutive month in August, dropping 11%, due to weak demand and the suspension of seafood imports following the Fukushima Daiichi nuclear plant incident.
China's exports of gallium and germanium, crucial materials for manufacturing semiconductors, dropped to zero in August following Beijing's imposition of export restrictions, potentially impacting the global tech supply chain and accelerating the shift of supply chains out of China.
China's economy showed positive signs of recovery in August, with an increase in industrial output, retail sales, and consumer inflation, indicating resilience despite concerns of "stagnation" or "collapse" in Western media reports; willingness to spend also recovered, with an increase in residents' income, per capita consumption spending, and domestic tourism; furthermore, China's exports remained resilient, with a steady increase in the export share of intermediate and capital goods, outweighing the decline in the export share of consumer goods.
Asian stocks declined as concerns over higher U.S. interest rates and a Chinese economic slowdown weighed on the technology sector and investor sentiment.
Profits at China's industrial firms decreased by 11.7% in the first eight months of the year, but the pace of decline eased slightly, suggesting a modest recovery is taking place due to policy support measures.
South Korea's exports in September showed a milder decline than expected, indicating a hopeful sign for the global economy as the country experienced the mildest drop in a yearlong downturn.
Asia's crude oil imports declined in September for the second consecutive month due to refinery maintenance and the impact of higher prices, with imports in August and September marking the lowest two months in 2023; the decrease in imports may be the initial response to the surge in oil prices, and higher prices may continue to lead to lower imports in the fourth quarter.
The price of copper has fallen to a four-month low due to weakened demand from China, raising concerns about the global economy.