China's August Imports Miss Estimates as Pressure Builds to Rebalance Trade
Exports and imports both gathered momentum in August, but weaker-than-expected import growth underscored calls for China to boost domestic demand, according to CNBC.
China's exports and imports gathered momentum in August, even as the world's second-largest economy faces mounting pressure to rebalance its trade, according to a report by CNBC.
The report indicated that import figures for the month fell short of analysts' estimates, reviving longstanding concerns among economists and trading partners about the imbalance between China's export strength and its domestic consumption levels.
According to CNBC, the trade data comes amid growing calls, both internationally and domestically, for China to rebalance its economy by strengthening internal demand rather than relying heavily on exports to drive growth.
The source did not provide specific figures for the size of the import miss or detailed year-on-year percentage changes in the report excerpt available.
CNBC's report did not elaborate further on the specific sectors affected or the reactions of Chinese officials to the latest trade figures.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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