Weak demand in China and growing global fallout from the Sino-U.S. trade war too...
TOKYO - Weak demand in China and growing global fallout from the Sino-U.S. trade war took a heavier toll on factories across much of Asia in February, business surveys showed on Friday.
Japan’s factory gauge fell at the sharpest pace in 2-1/2 years as slumping orders prompted plants to cut production, while separate data from South Korea showed its exports plummeted. growth-boosting measures announced by Beijing in recent months or seasonal distortions linked to the long Lunar New Year holidays early in the year.
The United States will need to maintain the threat of tariffs on Chinese goods for years even if Washington and Beijing strike a deal, President Donald Trump’s chief trade negotiator told lawmakers on Wednesday. Readings from South Korea — the first economy in Asia to report trade data each month - were equally grim. Its exports contracted 11.1 percent in February from a year earlier, their biggest drop in nearly three years, with shipments to major buyer China slumping 17.4 percent.
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