This is CBS I on the world with John Bachelor.

Here's John Bachelor.

The People's Republic of China, since the Third Plenham,

no new answers to what is clearly a decline in housing,

in consumer culture and especially in manufacturing where she

jin ping and the voices that speak for the Chinese Communist Party put their hope.

I know hope is not a plan but they put their hope in high-end manufacturing

to pull China out of a decline.

Gordon, a very good day to you. We're going to speak with Ann Stevenson-Yang our

colleague in just a moment but I wanted to check with you on new numbers from

China. Export-import. What are they and what do they tell us about

she Jin Ping's hope? John in July China's exports increased 7.0 percent.

People were expecting a 9.7% increase.

And the 7% figure is below the June figure

of an 8.6% increase in exports. People have been thinking that Chinese exporters are trying to beat

increased tariffs that they anticipate in their developed markets and so they have been

accelerating their overseas shipments.

At the same time for July imports were up 7.2%.

That is a big increase over the estimates because people were expecting something like 3.5% increase.

So it shows that demand in China is increasing.

We have to break down the figures, but nonetheless, this is a very fascinating

import export report.

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