Chinese exports down as economy slows
NBC News — Chinese exporters are facing tough times as the country's economy slows. Christmas may be half a year away but it's in July when Chinese companies start to receive orders for the holiday.
Early signs point to a lean Christmas for low-cost exporters where sales are down some 20% for some exporters. China's leaders have said the country's export sector needs to move up the export value chain towards higher value products but this transition will take time. For now, exporters say they are slashing prices and cutting back in order to make up for the lower demand.