China is experiencing a rare episode of sliding prices. Japans economy experienced this back in the 1990s and early 2000s. Now, this comes hot the heels of disappointing china trade data on tuesday, which showed that exports sank at their fastest rate since the pandemic, dropping by more 14 in the year tojuly, with imports also falling by more than 12 in the same period. Joining me now is duncan wrigley, Chief China Economist at pantheon macroeconomics. Thank you very much for being with us today. The Rest Of The World looking on in amazement. Considering the inflationary pressures the rest of us are dealing with. What do you read Between The Lines in this latest data . Between the lines in this latest data . Latest data . Ok, i mean, there are some latest data . Ok, i mean, there are some shortterm latest data . Ok, i mean, there are some shortterm factors i are some short term factors that push down the data for this month, there has been a surge of seasonal vegetables, the big pictu
sir. is it him? the fourth - chancellor in four months. his sir. is it him? the fourth chancellor in four months. his first act was to ditch liz truss plans. we will not be able to cut taxes as quickly as we want to and some will have to go up. we quickly as we want to and some will have to go unm quickly as we want to and some will have to go up. we now at the mercy ofthe have to go up. we now at the mercy of the mighty have to go up. we now at the mercy of the mighty markets? have to go up. we now at the mercy of the mighty markets? he - have to go up. we now at the mercy of the mighty markets? he wouldn t of the mighty markets? he wouldn t be the only one to wonder what on earth is going on. so we have one big question this morning. who is really in charge? this morning, we ll hear from the man tasked with saving the economy and liz truss premiership her new chancellor, jeremy hunt. and, as labour keep hold of their huge lead in the polls, i ll be speaking to ma
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business investment so they are kind of sitting back. but the consequence of that is because sentiment is quite weak, that the business and consumers, they are worried about the future, they are rising quite slowly. and as a consequence, we get a fairly slow prolonged recovery. we get a fairly slow prolonged recove . ~ ., ., , ., ., recovery. what does it mean for the rest of recovery. what does it mean for the rest of us, recovery. what does it mean for the rest of us, that recovery. what does it mean for the rest of us, that china - recovery. what does it mean for the rest of us, that china has i the rest of us, that china has always been or has been for a long time powerhouse, the juggernaut whose monumental growth drove the rest of the world s economy. are we at a loss for china struggling or perhaps is any way in which the prices falling their could help drive down prices in the rest of the world? drive down prices in the rest of the world? yes, i think you have a good of