Export Growth to Slow as Developed-World Consumers Shift Spending Back to Services and Away from Made-In-China Goods
China’s economy faces new challenges as its developed-world export markets emerge from the pandemic. After controlling the pandemic’s spread in the spring of 2020, China reopened its economy earlier and with fewer restrictions than other large economies. Real GDP plunged 8.7% in quarterly seasonally-adjusted terms in the first quarter of 2020 (not annualized), bounced back […]