Posted 4/12/2024, 2:41:53 PM
China's Exports and Imports Plummet in March, Underscoring Economic Challenges
- China's March exports fell 7.5% year-on-year, much worse than expected and the biggest drop since August 2022
- Imports also unexpectedly shrank 1.9% in March, missing forecasts
- Analysts say this highlights the challenges for policymakers trying to stimulate economic recovery
- In Q1, exports rose just 1.5% and imports were up 1.5% year-on-year
- Fitch downgraded China's credit rating outlook amid rising uncertainty over the economy's shift to new growth models
