Chinese Export Traffic Has Dropped 11 Of Last 12 Months
The Wall Street Journal reports that after decades of blistering export driven growth, the Chinese economy is experiencing a pronounced contraction in export and import growth that often drops by double digits and even up to 20% when compared to 2022 activity.
“In the first half of the year, China accounted for 13.3% of U.S. goods imports, down from a high of 21.6% in 2017 and representing the lowest level since 2003.”
While Chinese exports seem to be remaining more and more in growing Asian economies within the ASEAN 10 member nation trade alliance in Southeast Asia, the precipitous drop in trade activity is happening in an local Chinese economy where interest rates have dropped, real estate prices are falling, and other key economic indicators have turned markedly deflationary.
We are tracking this important story as the ports of Southern California effect 1 in every 8 jobs in the region and millions across the West and nationally.
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