Data show no end to Chinese malaise
Producer prices in July hit their lowest point since late 2009, during the aftermath of the global financial crisis, and have been sliding continuously for more than three years. Exports tumbled 8.3% in the same month, their biggest fall in four months, as weaker global demand for Chinese goods and a strong yuan policy hurt manufacturers.
China’s central bank will likely need to further cut interest rates, having already cut four times since November in the most aggressive easing in nearly seven years.
