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TRADE WARS
Japan's imports from China plunged in February on virus woes
by Staff Writers
Tokyo (AFP) March 18, 2020

Japan's imports from China almost halved last month from a year earlier to log the steepest fall since 1986 as the new coronavirus outbreak disrupted trade, official data showed Wednesday.

February imports from China, Japan's biggest trade partner along with the United States, plunged 47.1 percent to 673.4 billion yen ($6.3 billion) while exports slipped 0.4 percent to 1.14 trillion yen.

"The virus outbreak hampered manufacturing activities in China, which naturally resulted in drops in Japanese imports from there," said Takeshi Minami, chief economist at Norinchukin Research Institute.

As the virus woes in China calm, import drops will likely narrow but there are mounting worries over the US and European economies, Minami said.

"As the outbreak goes global, US and European demand is bound to shrink... Even if Japan makes products, there will be no good place to ship," Minami told AFP.

Japanese exports are likely to decline or Japan may slip back into a trade deficit, he said.

In trade with the rest of the world, Japan scored an overall surplus of 1.11 trillion yen, more than a three-fold jump from a year earlier and the first black-ink figure in four months.

The outbreak, which first emerged in China late last year, has quickly marched across the globe, infecting nearly 200,000 people and killing more than 7,500, according to a tracker maintained by the Johns Hopkins University.


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TRADE WARS
US-China trade truce at risk as virus hits global economy
Beijing (AFP) March 15, 2020
A hard-won trade war truce between the US and China is at risk as the coronavirus pandemic rocks the global economy, making it tough for Beijing to fulfil its commitments. The United States also faces huge disruptions from the deadly virus while a diplomatic spat between Beijing and Washington threatens to derail the phase-one deal that came after more than a year of escalating tensions between the world's two biggest economies. In the pact signed in January, China agreed to buy $200 billion mor ... read more

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