China’s economic slump

China has been experiencing a slow growth for their economy

China has been suffering from a slump on their economy. They are trying to recover from the sudden decline of their trade. There have been some newspapers that focus on prospects for Chinese growth after figures that showed a 10.8% decline in total trade volume from a year earlier.According to the data released on Sunday, exports fell 3.2%, while imports slumped 19.7%, far worse than analysts’ expectations, reports say. Chinese newspapers are confident on China bouncing back from this decline and believe that it will be able to grow its economy again. The state news agency Xinhua highlights that the January data is a “routine decline” ahead of the Chinese Lunar New Year, or Spring Festival, which falls on 19 February this year.”The trade data always turns out discouraging at every year’s beginning because of the Lunar New Year,” Liu Xuezhi, a financial researcher with the Bank of Communications, tells the news agency.The pundit adds that “the data thereafter can reflect the real situation of China’s foreign trade”.

 

China needs to bounce back from the 10% decrease

Experts interviewed by the Global Times also blame the fall in exports on “seasonal distortions”.But the People’s Daily is concerned about the sharp decline in imports, saying this reflects weak domestic demand, and cautions that the outlook for global trade is “not too optimistic”. The fall could be due to the strong calling for for independence for Hong Kong, and urge the territory’s authorities not to tolerate such views. Protests have already been affecting the businesses in the area. According to the Global Times, some protesters waved the British colonial-era Hong Kong flag during a recent rally, hoping to “detach Hong Kong from China”. Condemning the “absurd rabble-rousing” of the “separatists”, the editorial says such an idea “stems from hostility against China and communism”.”They seemingly long to return to the colonial era,” the paper adds, urging the governments in Beijing and Hong Kong, as well as Hong Kong society, to “safeguard national security and not to tolerate such views”.

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