Japan 'among hardest hit by China-induced global trade slowdown'
Japan exports have high ratios of intermediate and capital goods, says Jetro
Tokyo
WORLD trade shrank by nearly 13 per cent last year, the Japan External Trade Organisation (Jetro) said on Tuesday, noting that global growth was sluggish despite unprecedented monetary easing and stepped-up fiscal support.
It said in a report that, going by its estimates, world merchandise trade fell by 12.7 per cent from the previous year to US$16.4 trillion; this was the first decline in the six years since the global financial crisis.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’
US jobs growth slows in April; jobless rate up to 3.9%
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected
Indonesia to permanently relocate 10,000 people after Ruang volcano eruptions