HIGHLIGHTS
A+ R A-

China's export growth slows Featured

Rate this item
(0 votes)
d intensify its measures to stimulate growth. Exports rose 1 per cent year on year in July, a six-month low and down from an 11.3 per cent pace in June. Well below expectations, the figure indicated flagging external demand. Imports were up 4.7 per cent, dipping from June's 6.3 per cent pace and pointing to a slackening in China's appetite for commodities. China was left with a $25.1bn surplus, a two-month low. CNNMoney: China inflation hits fresh 2-1/2 year low With the US economy struggling to gain traction and Europe slipping towards recession, China is the world's most important growth engine, but it has also been sputtering. Its 7.6 per cent annual expansion in the second quarter was its slowest since the peak of the global financial crisis three years ago. After the weak factory data on Thursday, analysts said that Beijing would deploy both monetary easing and fiscal spending to prop up growth. The poor showing on exports also fuelled calls for the government to act on the trade front by letting the renminbi depreciate. "The key problem now is that the renminbi's real effective exchange rate (as measured against a trade-weighted basket of currencies) is too high. It is suppressing exports," said Lu Zhengwei, an economist with Industrial Securities. The renminbi has edged down nearly 1 per cent against the US dollar this year but it has risen in real terms because the dollar has done relatively well against many other currencies. Should Beijing let the renminbi fall more steeply against the dollar, it could stoke a political dispute with the US. Complaints about China's trade prowess have already featured in the lead-up to the US presidential election later this year. Mitt Romney, the Republican candidate, has vowed that he would declare China a currency manipulator if elected.
Share on Myspace

Recommended Articles

Prev Next

நீல சில்லுகல் அதிக லாபம் தருகின…

 நீல சில்லுகல் அதிக லாபம் தருகின்றன

பர்சா மலேஷியா இல் பங்கு விலைகள் நிலா சில்லுன்களின் மு...

மீண்டும் மறியல்

மீண்டும் மறியல்

பெஸ்தினா முதலீட்டார்கள் மீண்டும் மறியலில் இறங்கி உள்ள...

ஏஞ்சலினா துவக்கிய பள்ளி

ஏஞ்சலினா துவக்கிய பள்ளி

"வாண்டட், சால்ட் போன்ற ஹாலிவுட் படங்களில் நடித்தவர், ஏஞ...

சல்மான் உடனான எனது கனவு நிறைவேறி…

சல்மான் உடனான எனது கனவு நிறைவேறியது!

சலமான் கான் உடன் நடிக்க வேண்டும் என்ற கனவு, நனவாகிவிட்ட...

Mixing business and pleasure: Wh…

Mixing business and pleasure: What is the point of an Expo?

(CNN) -- While the Olympic Games in London steals the w...

Capturing Asia's 'expat factor'

Capturing Asia's 'expat factor'

CNN) – It’s always been a case of two-way traffic in th...

Are cool offices the key to succ…

Are cool offices the key to success?

CNN) -- Anyone who remembers 1987 film "The Secret of m...

Ramadan sales show Indonesia's g…

Ramadan sales show Indonesia's growing economic feast

CNN) -- Food prices in Indonesia rise during the holy m...

UN urges US to cut ethanol produ…

UN urges US to cut ethanol production

(Financial Times) -- The UN has called for an immediate...

China's export growth slows

China's export growth slows

d intensify its measures to stimulate growth. Exports r...

19 incredible Apple secrets reve…

19 incredible Apple secrets revealed in court

For Apple aficionados any news is good news -- especial...

Manchester United IPO prices bel…

Manchester United IPO prices below range

New York (Financial Times) -- Shares in Manchester Unit...

Iraq oil production surpasses Ir…

Iraq oil production surpasses Iran

NEW YORK (CNNMoney) -- Oil production in Iraq surpassed...

Login

Register

*
*
*
*
*

* Field is required