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July Exports Fell 8.3%: China's Declining Export Industry and

A weaker yuan will raise costs of imports like oil for China, benefiting local businesses by making foreign goods more expensive for consumers. Exports fell 8.3% in July, but a currency devaluation could help stimulate China's declining export industry and lift economic growth. China's leadership wants the IMF to declare the yuan an official reserve currency to increase China's global influence as its challenges Washington, but analysts say a larger devaluation is needed to significantly impact China's large economy.

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Manish Ravat
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13 views

July Exports Fell 8.3%: China's Declining Export Industry and

A weaker yuan will raise costs of imports like oil for China, benefiting local businesses by making foreign goods more expensive for consumers. Exports fell 8.3% in July, but a currency devaluation could help stimulate China's declining export industry and lift economic growth. China's leadership wants the IMF to declare the yuan an official reserve currency to increase China's global influence as its challenges Washington, but analysts say a larger devaluation is needed to significantly impact China's large economy.

Uploaded by

Manish Ravat
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

A weaker yuan will raise costs of imports, including dollar-denominated commodities, such
as oil, Local Chinese businesses benefit as imported goods could prove too costly for most
consumers.

2. July exports fell 8.3% compared with a year ago. The devaluation could help stimulate
China's declining export industry and
3. lift the country's economic growth.
4.As exports have softened, China runs the risk of large job losses in the manufacturing
industries,.. July exports fell 8.3% compared with a year ago.
5.Chinas leadership has been urging the IMF to declare the Yuan an official reserve currency on
par with the dollar, euro, the Japanese yen and the British pounda move that could raise
Chinas influence on the world stage just as Beijing increasingly challenges Washington in global
affairs.

Analysts, however, say a much bigger devaluation is needed to have a meaningful effect on
China's large economy

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