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Japan’s exports tumbled in July

Japan’s exports tumbled in July at the fastest pace since the financial crisis, weighed down by a strong yen and sluggish global demand. Exports slid 14% on-year, marking their tenth straight month of decline, while imports sank 24.7%, resulting in a trade balance of $5.15B. The figures are bad news for Prime Minister Shinzo Abe, whose government has been struggling to reinvigorate the faltering domestic economy.