China's Deflation Streak Hits 3 Months as Exports Boom and Trade Surplus Dips
• Consumer prices in China dropped for 3rd straight month in December, longest string of declines since 2009 • Deflation raising concerns among some economists about dampened sales for U.S. companies in China • China's auto exports surged 64% in 2022; EU opened investigation into Chinese state subsidies for EVs • China reported $823B trade surplus in 2023, down from $878B last year amid decreased trade with U.S. • Exports unlikely to drive China's growth in 2024; economy needs to focus more on domestic consumption