China may see its first annual trade deficit for two decades next year, Wei Jianguo, former vice-minister of commerce, said.
September and October are traditionally the peak time for contracts ahead of the festive season in Europe and the United States but demand is sharply down this year, he said.
“China’s export-reliant enterprises are facing their toughest time in years. The possibility of a full-year trade deficit cannot be ruled out next year,” Wei, secretary-general of the China Center for International Economic Exchanges, a government think tank, told China Daily.
The article is here and I thank Mark Thorson for the pointer.