China experienced a larger-than-expected decline in both exports and imports in July, intensifying worries about the future growth of the world's second-largest economy. Export volumes dropped by 14.5% in dollar terms, marking the steepest decline since the onset of the COVID-19 pandemic. Similarly, imports decreased by 12.4%, representing one of the most substantial drops since the infection outbreak in January and signaling a major setback for China's trade in recent times.
