China's export growth slows

The impact of the Middle East conflict is becoming increasingly evident in China's economic data, with manufacturing profits squeezed by the closure of the Strait of Hormuz.

While exports stuttered, imports surged by nearly 28%, reflecting robust domestic demand for alternative energy sources and materials.

The trade surplus narrowed by half, highlighting the risks in Beijing's strategy of leaning on high-tech manufacturing to sustain growth.

Analysts warn that if the war drags on, the resulting 'stagflationary shock' could further destabilize global supply chains.