China Pivots to Petroleum as Consumer Goods Slump Hits World Trade: Official Nov Trade Data
One exception continues to be ASEAN countries, where Chinese companies have been finding new, enthusiastic buyers for their products. Shipments to ASEAN countries rose 5.7% to $50.3 billion. Perhaps as a response, EU-U.S. trade has been increasing, according to trade statistics. China reported remarkably weak trade numbers for November, underscoring its lingering difficulties with the Covid-19 pandemic, as well as a slump in consumption of consumer goods hitting the U.S., Eur