Just how big a problem is China’s slowdown?

(Image: Unsplash)

Mon, 21 Aug 2023

It’s no secret that New Zealand’s economic fortunes are tied to demand from China, but just how big of a problem is the current slowdown?The stakes are high, considering exports to China were $20.4 billion in the year to June 30 or just under 30% of total merchandise exports.Recent data out of China makes for grim reading, and the nosedive in whole milk powder (WMP) prices in the latest Global Dairy Trade auction only added to the jitters, particularly after Fonterra cut its forecast payout for the second time in a month.Fonterra&rs...

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