Balanced News: China’s exports drop by 8.8% in August as trade slump persists

China’s exports declined by 8.8% in August compared to the previous year, which was better than the forecasted 9.2% drop. Imports also fell by 7.3% in August, surpassing the predicted 9% decline. This marks the eighth consecutive month of import decline and the fifth consecutive month of export decline for China. The country’s economic recovery has slowed due to a slump in the property market and weak consumer spending.