BEIJING: China's exports unexpectedly shrank in April but imports surprised with their first increase in five months, painting a mixed picture of the economy as Beijing and Washington make a last-ditch bid for a trade deal before a hike in US tariffs.
Investors have been hoping that China's April trade data would add to signs that its economy is beginning to steady, easing worries about cooling global growth. "The outlook for Chinese exports is challenging. If Trump follows through on his latest tariff threats, we think this would drag down export growth by two to three percentage points," Capital Economics said in a research note."Even if a last-minute deal is struck this week to avoid further tariffs, the downbeat prospects for global growth will probably mean that export growth remains subdued."Imports, however, beat expectations with a 4.
Factory surveys for April suggested demand was improving at a much slower rate at home and abroad, adding to the debate over how much more stimulus China needs to generate a sustainable recovery, without risking a rapid jump in debt.
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