Posted on 10/31/2009 3:24:55 AM PDT by TigerLikesRooster
China sees rocky export rebound, shrinking surplus
October 31, 2009 1:17 AM ET
All Thomson Reuters news
BEIJING/SHANGHAI (Reuters) - China's exports face a "hard and tortuous" path to recovery as uncertainties dog the global economy's gradual return to health, with this year's trade surplus set to shrink from last year's record, the Commerce Ministry said.
Commerce Minister Chen Deming told a conference on Saturday that China's trade surplus was expected to fall to $180 billion to $190 billion this year from last year's record $295.5 billion.
The surplus was $136.4 billion in the first nine months of the year.
With China's economic recovery relying heavily on government spending to boost domestic demand, imports have seen greater improvement than exports in recent months.
Exports in September were 15.2 percent below their level a year earlier, beating forecasts of a 21 percent fall, although the government expects a double-digit fall for all of 2009.
(Excerpt) Read more at news.moneycentral.msn.com ...
Ping!
bump
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.