(Bloomberg) -- China’s exports fell for an eighth month as the global recession cut demand, highlighting the economy’s dependence on stimulus spending to revive growth.
Overseas sales slid 21.4 percent in June from a year earlier, the customs bureau said today on its Web site, after a record 26.4 percent drop in May
Imports fell a less-than-estimated 13.2 percent, the smallest decline in eight months, signaling that the worst may almost be over for the nation’s trade. China, the world’s second-biggest exporter, has stalled gains by the yuan against the dollar and increased export-tax rebates as the government’s 4 trillion yuan ($585 billion) stimulus package drives an economic recovery.
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