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Full Version: China's trade suffered its biggest decline in January since the 2008 crisis
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http://finance.yahoo.com/news/china-trad...44834.html

BEIJING (AP) -- China's trade suffered its biggest decline in January since the 2008 crisis — a new sign of weak global demand and a slowing domestic economy.

Exports fell 0.5 percent from a year earlier to $149.9 billion, while imports were down 15 percent at $122.7 billion, customs data showed Friday. China's politically sensitive global trade surplus tripled compared with a year earlier to $27.3 billion.

Analysts expected January trade to fall due to the Lunar New Year holiday, the country's most important holiday. Chinese exporters rushed out orders in December and then shut down for two weeks or more in January.

But the import decline was sharper than expected, suggesting that even with the holiday factored in, the world's second-largest economy is slowing markedly. China is a major buyer of iron ore, oil and other commodities and industrial components, meaning any downturn could hurt suppliers such as Australia, Brazil and South Africa.

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