China reports deflation after worsening foreign trade, TV channel reports CCTV.
It was noted that food prices decreased by 1.7 percent, while service prices increased by 1.2 percent.
China last faced deflation during the 2008-2009 global crisis.
It is also noted that exports and imports decreased by 14.5% and 12.4% on an annual basis in the country.
China’s tourism industry passing A deep crisis despite the opening of borders in early 2023 after almost three years of “zero tolerance” policy towards COVID. The flow of foreign tourists to the country is still far from recovering.
The World Tourism Alliance stated that the industry is “in distress and depression”. The alliance believes the sharp drop in tourist numbers is due to the country’s three-year closure, changes in logistics chains and simple tourism infrastructure.
before in china discretion the impact of sanctions on trade with the Russian Federation.