China's exports unexpectedly returned to growth in May despite higher U.S. ...
BEIJING - China’s exports unexpectedly returned to growth in May despite higher U.S. tariffs, but imports fell in a further sign of weak domestic demand that could prompt Beijing to step up stimulus measures.
While better than expected, Monday’s export data is unlikely to ease fears that a longer and larger U.S.-China trade war may no longer be avoidable, pushing the global economy toward recession. While China is not as dependent on exports as in the past, they still account for nearly a fifth of its gross domestic product.
Trump has said he expects to hold a meeting with Chinese President Xi Jinping at a G20 leaders’ summit late this month, but analysts such as Capital Economics believe the chances of a lasting trade deal are receding after both sides toughened up their rhetoric.
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