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Transhipments and weaker RMB are blunting US tariffs

China’s share of global exports has increased over the past year, despite US tariffs. Renminbi depreciation and the transhipments of goods to the US via neighbouring countries can take much of the credit.
Julian Evans-Pritchard Senior China Economist
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More from Julian Evans-Pritchard

China Data Response

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Headline growth on all the key indicators dropped back last month. But after adjusting for base effects the picture was more mixed, with investment slowing, industrial output growth holding steady and retail sales accelerating. While there is still scope for a further recovery in consumption, we think investment and exports are set to cool over the coming months.

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China Data Response

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