China imports plummet

BEIJING: Chinese imports plunged by more than a fifth last month, official figures showed Tuesday, as slowing growth in the world´s second-largest economy wreaks havoc on global commodities prices and the country´s own customers.
The Asian giant is the world´s leading trader in goods but flagging expansion has led to a sharp fall in values for the resources it uses -- such as iron ore and crude oil -- hitting producer countries such as Australia.
September imports sank 20.4 percent to $145.2 billion in dollar terms, Customs said -- worse than forecast in a survey of economists by Bloomberg News.
Purchases of several bulk commodities "exhibited an increase in volume and a fall in price", Customs department spokesman Huang Songping told reporters, citing oil, coal and copper costs among the biggest losers.