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The value of imports also fell by more than expected. Down 12. 4 onjuly a year ago, but that partly reflects a fall in the price of commodities such as crude oil. The figures will concern chinas government who are grappling with economic growth. The quarterly Growth Figure was just 0. 8 in the april tojune period as the country continued its post covid recovery. And last month chinas struggles were cited as a key concern for the Global Economy when the International Monetary fund updated its Global Growth forecast for this year to 3 . David woo is a former imf economist and wall street strategist, hejoins me now from tel aviv. Its a grim picture for china, isnt it . The third consecutive month of decline. Whats going wrong for them . ,. , decline. Whats going ....
Them? some people are going to say it s “ust them? some people are going to say it s just basically them? some people are going to say it sjust basically a them? some people are going to say it sjust basically a reflection - them? some people are going to say it sjust basically a reflection of - it s just basically a reflection of the current global manufacturing slump but i suspect there s a lot more going on. i think the impact of the reassuring manufacturing back in the reassuring manufacturing back in the us, in europe. the fact is that while chinese exports are down, mexican exports are up. indonesian exports are up. i suspect china is housing more than the relocation of supply chain and beijing would like to admit and i suspect also that many people in washington or poppy seed today s numbers is a reason for celebration. in seed today s numbers is a reason for celebration- celebration. in china with imports down as well. celebration. in china with imports down as well, w ....
Export of tvs. going to do next to stop china exaort of tvs- going to do next to stop china exortoftvs. ., ~ , . export of tvs. thank you very much for “oininu export of tvs. thank you very much forjoining us- let s turn to italy now where the country s banks have been hit by a 40% windfall tax on their profits for this year. it s led to big falls in the share price of the likes of intesa sanpaolo and unicredit. the government says that collectively the banks have been making billions in extra profits as interest rates have risen in the battle against inflation. it could raise around $3 billion for the government which it says it will use the money to help those who are struggling with the cost of living crisis. let s speak to our business editor simonjack. tell us why they are doing this. one will have? ., ., tell us why they are doing this. one will have? . ~ ., tell us why they are doing this. one will have? 1, ~ ., , tell us why they are doing this. one will have? ~ ., , , ....