China's economic woes take toll on Asia

The value of China's exports unexpectedly fell 4.4 per cent last month after expanding at a rapid clip of more than 14 per cent as recently as October, according to Chinese data this week.
The value of China's exports unexpectedly fell 4.4 per cent last month after expanding at a rapid clip of more than 14 per cent as recently as October, according to Chinese data this week.PHOTO: EPA-EFE

Region's economies off to rough start for year, amid sharp drop in Chinese trade

Last year, during the run-up to Chinese New Year, Mr Heru Purnomo, founder of Indonesia's biggest live fish exporter, Pulau Mas, could count on a spike in demand to prop up prices, as Chinese families and businesses splashed out on live lobster, grouper and other reef fish as part of elaborate banquets to ring in the new year.

A red coral trout, or snapper, would set a host back US$65 (S$88) per kg. This year, it is more like US$55.

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A version of this article appeared in the print edition of The Straits Times on January 18, 2019, with the headline 'China's economic woes take toll on Asia'. Print Edition | Subscribe