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China’s Export Decline Deepens, Threatening Growth
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HONG KONG—The export boom that carried China’s economy through much of the Covid-19 pandemic has lost momentum, adding urgency for Beijing to seek growth drivers elsewhere as the global economy struggles.
The decline for Chinese exports got steeper in the final month of 2022, falling 9.9% from a year earlier, compared with a 8.7% drop in November, according to data from China’s customs bureau. While the decline wasn’t as steep as the 10.5% drop forecast by economists polled by The Wall Street Journal, it marked the biggest dip since February 2020, when a nationwide lockdown brought economic activity to a halt.
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