News Snapshot:
China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-19-induced slump, but weakening global demand could start to drag on shipments in coming months. Exports rose 18% in July from a year earlier, the fastest pace this year, official customs data showed on Sunday, August 7, compared with a 17.9% increase in June and beating analysts’ expectations for a 15% gain. Outbound shipments have been one of the few bright spots for the Chinese economy in 2022, as widespread lockdowns hit businesses and consumers hard and...
