China trade decelerates in sign of global weakness By JOE McDONALD, AP Business Writer – 38 minutes ago BEIJING (AP) — China's trade and domestic demand have weakened even faster than expected, adding to pressure on Beijing for a more aggressive stimulus to boost the world's second-largest economy out of its worst slump since the 2008 crisis. Export growth in July plunged to just 1 percent from the previous month's 11.3 percent, well below forecasts of about 5 percent, data showed Friday. The slump adds to the pain for struggling exporters, raising the threat of more job losses and unrest as the Communist Party tries to enforce calm ahead of a handover of power to younger leaders. Factory production, auto sales and retail sales in July, reported Thursday, also were more anemic than expected despite two interest rate cuts since the start of June and government efforts to pump money into the economy through spending on public works. "With the export sector losing speed faster than expected, the government's current investment stimulus plan looks woefully inadequate," IHS Global Insight analyst Alistair Thornton said in a report. "The government is likely to respond by ramping up its stimulus efforts, with both monetary and fiscal guns firing."