China trade down on weak global demand, virus curbs

China’s trade shrank in October as global demand weakened and anti-virus controls weighed on domestic consumer spending. Exports declined 0.3% from a year earlier to $298.4 billion, down from September’s 5.7% growth. At home, consumer demand has been hurt by a “Zero COVID” strategy that has repeatedly shut down large sections of cities to contain virus outbreaks. Economic growth picked up to 3.9% over a year in the quarter ending in September from 2.2% in the first six months of 2022. For the first 10 months of the year, China’s exports rose 11.1% to $3 trillion while imports gained 3.5%, the General Administration of Customs announced. . . .