China Trade Growth Slumps in April
Source: NYT
Chinas exports and imports both grew considerably more slowly than expected last month, the Chinese government announced on Thursday, in one of the clearest signals yet of lingering and possibly worsening weakness in the worlds second biggest economy.
China has been the largest single contributor to global economic growth in recent years, and a sustained slowdown in its economy could pose problems for many other countries. Particularly exposed are countries that export commodities like iron ore and oil, and depend on demand from Chinas voracious steel mills and ever-growing ranks of car owners.
Exports rose slowly in April from a year earlier, climbing 4.9 percent, Chinas General Administration of Customs announced on Thursday. That was roughly half the growth that economists had expected.
But the big surprise on Thursday came in the Chinese announcement that imports grew only 0.3 percent in April from a year earlier nothing close to economists predictions of an increase of 11 percent.
Read more: http://www.nytimes.com/2012/05/11/business/global/china-trade-growth-slumps-in-april.html
Crowman1979
(3,844 posts)Its called a ceiling, and China has just hit it.
Javaman
(62,521 posts)they don't have half the banking regs we ignore over here.
BlueIris
(29,135 posts)Economic collapse tends to foster political instability, too.
Crowman1979
(3,844 posts)When China can't even control its own country, let alone invade another one. Besides most of its military is outnumbered 200+ to 1 by its own people.
Diclotican
(5,095 posts)BlueIris
Probably a long way to civil war in China yet - but I'm sure it will be a lot of social unrest, in parts of china when the economy is starting to be hit by the reality of things... And with civil unrest, I fear problems for China.. As one of the cardinal ideas in PRC have been that it is a country in harmony and peace with itself.. Civil unrest is not what the government want - and is prepared to stop at almost all cost.. And PRC have shown before that they ARE ready to hit hard when they hit.. I was not so old when Tiamen Square happened, but I do remember it wivid....
Diclotican
Left Coast2020
(2,397 posts)THe gut feeling I get is something is going to happen. And that was not from this side of the ocean. Its from the time I spent there 2 years ago--returning last July. The people are getting a little pissed about higher food and housing costs. Are their wages going up as well? No way. Then throw in an occasional(and increasing number of) protests throughout the country. CCTV can't hide those broadcasts. They can call them anything they want, but they are people protesting against the government policies. And just for the record, despite the fact that there is no Facebook or Twitter(because its blocked by government), the Chinese will still find out what is going on.