China trade slumps in first half of year: government

China's GDP expanded 7.4% in 2014, the lowest rate in nearly a quarter of a century, and signs of further weakness have mounted this yearChina’s total trade slumped in the first half of this year, official data showed Monday, falling well short of the government’s targets and dealing a blow to the global economy from its biggest trader in goods. Two-way trade for the first six months of the year fell 6.9 percent to $1.88 trillion, the General Administration of Customs said. China is the world’s second-largest economy and a key driver of global growth, with an outsized impact on resource-rich supplier countries such as Australia.

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