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News Summary: China’s trade growth weakens

By The Associated Press
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TRADING DOWN: China’s trade growth plunged in June, hurt by weak U.S. and European demand, with potential impact on economies as far-flung as Africa and Australia.

IMPORT-EXPORT SLOWDOWN: Import growth fell by half from May’s level to 6.3 percent, as factories facing weak foreign orders cut purchases of raw materials and domestic demand softened. Export growth declined to 11.3 percent from May’s 15.3 percent.

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