Shoppers are hopping across the border, where prices have dropped. Neighboring Asian countries could also be hit if Chinese companies dump their goods there among weak domestic demand.
(Bloomberg) China’s consumer prices marked their longest streak of declines since 2009, threatening a deflationary spiral that may require more government support to reverse. Its export growth engine is also faltering.Most Read from BloombergGoogle Lays Off Hundreds in Hardware, Assistant, EngineeringUK’s Sunak Authorizes Joint Military Strikes With US Against HouthisHertz to Sell 20,000 EVs in Shift Back to Gas-Powered CarsUS, UK Launch Airstrikes on Houthi Rebels After Red Sea AttacksSEC Au
Japan has long been the world's top exporter of automobiles, but that reign is now over. China has overtaken it for the No. 1 spot, and it's no blip—Beijing's.
Government officials are discussing hiking tariffs on Chinese EVs as they seek to protect the stuttering US EV industry from a wave of cheap Chinese exports, according to a WSJ report.
Xi urged measures to boost the economy, saying that "the development situation facing the country is complex, with increasing adverse factors in the international political and economic environment".