Exports from China surged 10.7% year-on-year in 2024, surpassing expectations and hitting a record high, offering a boost to the economy amid looming US tariffs.
As President-elect Trump prepares to impose tariffs, economists caution that a 60% tariff on imports could reduce China's GDP growth by 2.5 percentage points in one year.
Analyst Zichun Huang notes that the strong performance in exports is partly due to firms anticipating tariffs, indicating that outbound shipments may remain robust for the time being.
In response to economic challenges, China has implemented aggressive measures including rate cuts and relaxed property purchase rules to stimulate growth amidst declining consumer sentiment.
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