China exports surge but Europe debt crisis looms China reports May export surge but

Discussion in 'Economy' started by Neubarth, Jun 10, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    China in the past few weeks has come close to where they were three years ago as regards exports. We are finally seeing economic improvement in that global arena. I had said that when I saw Chinese exports return to near normal I would post it. The most alarming thing in the Chinese export numbers is a FIFTY percent increase in one month. I have never seen anything like that in all of my years.


    China exports surge but Europe debt crisis looms

    China reports May export surge but European debt crisis likely to hurt trade recovery
    Joe Mcdonald, AP Business Writer, On Thursday June 10, 2010, 1:04 am EDT

    BEIJING (AP) -- China's exports surged by nearly 50 percent in May but analysts warned Europe's debt crisis is likely to hurt the recovery in trade.

    Exports rose 48.5 percent in May, while imports were up 48.3 percent, the Chinese customs agency said Thursday. The figures exceeded most analysts' forecasts and produced a monthly trade surplus of $19.5 billion.

    "It's certainly encouraging. But there's always room for skepticism given the tepid recovery in global demand," said Royal Bank of Scotland economist Ben Simpfendorfer. "We may yet see a pullback in exports."

    China's strong trade figures might rekindle pressure from Washington and other governments for Beijing to let its currency rise. The yuan has been frozen against the dollar since late 2008 to help China's exporters compete amid weak global demand but its trading partners say that is distorting trade.

    Analysts expect the yuan to rise this year but say China's leaders will act only once it is clear global demand has recovered.
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    The fact that exports had to increase by fifty percent to reach near normal shows you how bad things really were for China as I was showing for the past two years on this and other forums. That was one heck of an improvement. So great in fact that I wonder if the Chinese numbers are real. For the time being I will just assume that it is the truth and let it go at that.

    To all those clowns on the forum who were saying that the Chinese economy had returned to normal when I was saying that it most definitely was not NORMAL, I have this to say, "You were wrong!"
     

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