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October 19, 2016

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Foreign Trade Faces Headwinds

CHINA’S foreign trade still faces strong headwinds as uncertainties mount, a commerce official said yesterday.

The difficulties will not end in the near term, with uncertain and unstable factors increasing, Shen Danyang, spokesman for the Ministry of Commerce, said at a press briefing.

On September 27, the World Trade Organization cut its forecast for global trade this year to 1.7 percent, down from its previous view of 2.8 percent in April.

The new figure of 1.7 percent represents the lowest growth rate since the 2008-2009 financial crisis, reflecting a drastic slowdown in global trade this year, Shen said.


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