China's 'deflation exports' expand as cheap goods flood markets

BEIJING -- China is stepping up overseas shipments of cheap steel and other products, as more countries accuse it of exporting its deflation.

Export prices for 60% of major products have fallen, with price declines expanding from industrial materials to integrated circuits and food. Due to a sluggish economy at home, Chinese companies are redirecting excess inventories abroad, and other countries are taking greater measures to protect their industries.