China warns about shrinking overseas orders, analysts expect exports to drop 30% or more in Q2

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China's top policymakers warned that "overseas demands for exporters are shrinking" in a State Council meeting earlier this week and they pledged more efforts to help foreign trade companies tide through tough days.

In the next one to two quarters, overseas demand could plunge by 30 per cent from a year earlier, assuming the coronavirus outbreak in developed economies could get controlled by late April, and that could throw 18 million people out of jobs, said Lu Ting, chief China economist at the Nomura Securities in Hong Kong.

In the worse scenarios which assume . . .

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