Trade data from China on Tuesday showed a sharp drop in the value of imports and exports, amplifying concerns about ripple effects from the country’s economic slowdown into developed economies. Decelerating economic growth not only means China is buying less from overseas but reaping less money from its shipments too, as prices fall and buyers in markets such as Europe and Japan curb purchases The value of imports fell 14.3 per cent year on year in renminbi terms in August, a steeper decline than July’s 8.6 per cent fall, the 10th consecutive fall and the worst showing since May.Exports dropped a more modest 6.1 per cent from a year ago, against an 8.9 per cent drop in July. As a result, the trade surplus jumped nearly 40 per cent month on month to Rmb368bn ($57.8bn), just below the Rmb370bn record set in February. “The August data followed the trend set in July,” said Ma Guangyuan, an independent Chinese economist. “Now the global slowdown has very much become a reality.”