China’s trade with the US is up 33%, but imports are falling on real estate concerns – Community News
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China’s trade with the US is up 33%, but imports are falling on real estate concerns

Despite this increase in trade, China’s trade growth with the US slowed in October relative to September, according to China’s General Administration of Customs.

Amid ongoing tensions between the two world powers, trade between the United States and China rose 33.4 percent in January-October this year compared to the same period in 2020.

Despite this increase in trade, China’s trade growth with the US slowed in October relative to September, according to China’s General Administration of Customs.

US-China trade totaled $609.939 billion in the first ten months of 2021, the Xinhua news agency reported citing Chinese customs officials.

China’s exports to the US rose 31.7 percent over the period to reach $465.305 billion, while US exports to China increased 39 percent to $144.634 billion, according to data quoted by the Chinese agency.

Tian Yun, former vice director of the Beijing Economic Operation Association, told China’s Global Times that China’s macro-regulatory policies for the domestic economy and real estate sector resulted in slower growth in investment and consumption, leading to a decline in US imports.

He said the global economy is suffering from supply chains. That country that could stabilize domestic supply chains and boast a large share of the global value chain will outperform in foreign trade, he noted.

Last year, trade between the US and China rose 8.3 percent to $586 billion, despite the Covid-19 pandemic and trade disputes.

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