The growth in China's demand for imports slowed in July, posing a possible risk to global economic demand.

Imports gained 22.7% year-on-year to $116.8 billion, compared with an increase of 34.1% in June, The Associated Press reported. Export growth was 38.1%, down from 43.9% in June.

Sluggish demand from China could hurt its ability to drive a global economic recovery.

"The drop in imports might affect those countries that supply China with raw materials," Xing Ziqiang, an economist with China International Capital Corp., told the AP.

The country's demand for imports has fallen as the government tries to head off a possible asset bubble by curbing bank lending and construction activity. Other signs of cooling demand include auto sales, which fell 11.9 % in July from the previous month.

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patricknearbeer

wow....ok. so america sends all its jobs to china. then americans cant buy the cheap chinese junk they send here. doesnt this government or it's big business see the connection? when you flip burgers for a living you cant even afford to shop at walmart.

August 13 2010 at 11:48 AM Report abuse rate up rate down Reply
jkennedy806

Boo hoo, maybe the US will now start thinking about putting Americans back to work with American jobs. China invested in our economy -- you reap what you sow.
China you took good paying jobs away from the US citizen -- now the US citizen is broke unemployed and can not go to Walmart and buy cheap foreign made products, so China who is going to buy the goods? if America doesn't. I don't feel sorry about this at all. Best news heard all summer.

August 10 2010 at 9:19 AM Report abuse rate up rate down Reply