World recession affects Deceleration of China’s Export

According to Hao Hong of Grow Investment Group,  China's exports are likely to decelerate this May. He also added that China’s export expected to fall for the first time in three months.

After COVID-19, the World sought to order the economy and It was successful because there were robust services consumption and a backlog of orders and the Economy became alive thanks to them.

Nowadays recession captures all around the World particularly US and Europe have such kind of economic situations therefore they decrease demand for China.

Refinitiv Datastream, which is prepared by Kripa Jayaram and Riddhima Talwani, demonstrates that there is decreasing both export and import throughout May.

Zhiwei Zhang, chief economist at Pinpoint Asset Management, says that China needs to trust domestic demand instead of global. Furthermore, he argues that there will likely weaken further in the second half for global demand.

"Looking forward, we think exports will fall further before bottoming out later this year," said Julian Evans-Pritchard, head of China economics at Capital Economics. "Although interest rates outside of China are near a peak, the lagged impact from the sharp rate hikes is set to weaken activity in developed economies later this year, triggering mild recessions in most cases."

Sources: Reuters, CNBC