World, As Seen from the most beautiful islands: Ireland and Cyprus

It’s not China exported less, it’s we who imported less


Chinese exports have declined for the third consecutive month in July. The country’s exports were 14.5 percent lower last month compared to the previous year, marking the largest drop since the onset of the COVID-19 pandemic.

As the global economic growth slows down and Western consumers tighten their spending, China’s export numbers have suffered. This, in turn, is impacting China’s economic growth, which has been largely propped up by its exports for years.

China’s economy only grew by 0.8 percent in the second quarter of this year compared to the first quarter. Additionally, unemployment in China is on the rise, with more than 20 percent of the youth being unemployed.

In an effort to revitalize the economy, China is taking measures such as promoting the sale of electric vehicles and encouraging tourism within the country. The Chinese central bank has also lowered interest rates to make it more enticing for Chinese citizens to spend money.

Written by: Patrick O'Brien

Patrick O'Brien is a student who is taking only the first steps in journalism. The main interest is events from the world of macroeconomics and finance.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

From Trinity st. to Limassol, Cyprus

Ireland and Cyprus have one thing in common. The most beautiful islands are divided. Even proportions are strikingly similar. Both nations strive for unity and a good glass of the news. More about us under the link.

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