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Despite growth deceleration and trade tensions with the USA, China’s domestic activity remains strong: Alibaba's Singles Day sales hit a new record of over $30 billion. China’s export growth in USD was higher than expected in October, with imports also surprising to the upside. From the $200 billion of US-imposed China tariffs employed in September, approximately $70 billion are on consumer goods, but it will take time for the supply chain to pass these on to consumers. The stronger greenback provides wiggle room for exporters to absorb price increases from higher tariffs.
By Peter Rosenstreich
