China’s economy continues its decline, as reports earlier this week revealed that exports had their biggest monthly drop since May 2009. That fall underscores the Chinese government’s announcement last week lowering its economic growth target for 2016 to between 6.5% and 7%, compared with 6.9% last year. Last week, ratings agency Moody’s also said it has lowered its outlook for Chinese government bonds from “stable” to “negative.” Against that backdrop, China is preparing for millions of layoffs in the steel and coal sectors, while a potential real estate bubble looms. What Beijing could do to manage the fallout and help entrepreneurial activity pick up some of the slack in the economy are open questions, according to experts. In February, China’s exports fell 25.4% compared to those of a year ago, while imports fell 13.8% over the same period.…