Chinese Stocks Plummet as Economic Concerns Mount

• Major Chinese stocks like Alibaba, Baidu, and JD plunged amid waning confidence in Chinese markets • China's exports dropped 7.5% in March, dashing hopes that international sales could offset weak domestic demand • China aims for 5% GDP growth this year, but weak consumer spending evident from 1.9% import decline • U.S.-China competition over economic and technological dominance weighs on investor sentiment • Analysts see potential 55% upside in NIO shares over next 12 months despite broad declines