China Economy: Wall Street and Yuan Depreciation

china economy: Exports for September slumped 10 percent from a year earlier, despite the yuan depreciation in the past year, according to The Japan Times. Imports unexpectedly fell, after ticking higher in August, raising questions over the resilience of domestic demand. Global markets rose on Friday after official data showed China factory output prices grew in September for the first time in almost five years, but a day earlier, stocks in Europe and on Wall Street were hammered by an unexpectedly poor Chinese trade report for the same month. Though China economy recorded its slowest growth in 25 years in 2015, it has shown signs of stabilizing in recent months, sustained by billions of dollars of government infrastructure projects and a spreading credit-fueled housing boom. The government has been able to stabilize the economy this year with quite a lot of stimulus, but it hasn't actually been as effective as a lot of people had expected, said Julian Evans-Pritchard, a Singapore-based China Economist at Capital Economics. China is targeting gross domestic product growth of 6.5 to 7 percent this year, after 6.9 percent last year. (news.financializer.com). As reported in the news.