. Energy News .




TRADE WARS
China exports jump but weakness seen ahead
by Staff Writers
Beijing (AFP) Oct 13, 2012


Chinese exports rose 9.9 percent in September year-on-year to a record monthly high, the government said Saturday, but analysts warned the performance was unsustainable given the weak global outlook.

The national customs bureau also said the trade surplus of the world's second-biggest economy, a source of friction with China's trading partners, widened to $27.7 billion for the month, up from $26.7 billion in August.

Global concern has mounted over a weakening trend in the Chinese economy, an important driver of global growth, and in exports in particular as the broader global slowdown and European debt crisis have impacted shipments from China.

But exports, the key indicator of the health of China's vital manufacturing sector, climbed 9.9 percent in September, the General Administration of Customs said. Imports rose 2.4 percent.

Both figures beat the expectations of analysts polled by Dow Jones Newswires, which had predicted a median forecast of 5.0 percent growth for exports and 2.0 percent for imports.

The September data will come as good news in a year when export growth rates have softened significantly from the strong expansions of previous years.

However, barring a significant improvement in overall trade conditions, the performance was unlikely to be repeated, said Alistair Thornton, China economist with IHS global Insight.

"There is no evidence to suggest that global trade activity is picking up, so there is nothing to support stronger Chinese exports," he said.

Export growth was likely to fall back to around five percent in coming months and imports would slip to near-zero growth, he said.

Citigroup economist Ding Shuang said the trade data is "a positive sign for the Chinese economy", according to Dow Jones Newswires.

But he agreed that it looked unsustainable and that a government target of 10 percent growth in overall trade would likely not be met.

China's gross domestic product grew 7.6 percent in the second quarter of this year, the slowest rate since 2009.

Chinese authorities have been aiming for 7.5 economic percent growth for 2012 -- far less than the 9.3 percent achieved in 2011 and 10.4 percent in 2010.

The world's largest exporter has been pulled down by weakness in overseas economies including debt-saddled Europe, a major trading partner, as well as a sluggish property market and softening consumer spending.

Overall trade for the first nine months of the year was $2.84 trillion, up 6.2 percent from the same period in 2011, the customs bureau said, off the pace of the 10 percent target.

Overall trade with Europe was down 2.7 percent to $411 billion for the first nine months of the year, but trade with the United States grew 9.1 percent to $355 billion.

Following the trade data, markets will turn their eyes toward the release of third quarter GDP data on October 18, and whether the Chinese economy deteriorated further.

Thornton said China was unlikely to come out soon with a significant economic stimulus package as leaders were gearing up for an important Communist Party meeting next month during which a new set of top leaders will be confirmed.

Major policy initiatives are typically put on hold in the run-up to such gatherings.

Trade with Japan slumped 1.8 percent to $248 billion for the year's first three quarters, according to the customs data.

A bitter dispute that erupted in recent months between China and Japan over an island group has stoked anti-Japan sentiment in China, impacting sales of Japanese products in September.

However, the customs bureau made no link between the row and the trade performance.

Related Links
Global Trade News




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries




.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



TRADE WARS
Ghana 'violating intl norms' over ship: Argentina
Buenos Aires (AFP) Oct 11, 2012
Argentina's defense ministry on Thursday accused Ghana of violating "international norms" by refusing to release one of its warships and said it was sending two senior officials to Accra for talks. Earlier in the day, a judge in Ghana rejected a bid by Buenos Aires to have one of its warships released from a port near Accra, where it is being held under a court order linked to a debt dispute ... read more


TRADE WARS
Boeing Releases Updated Geospatial Data Management Tool

First images from e2v imaging sensors on SPOT 6 Earth observation satellite

New Commercial Imaging Spacecraft Progressing at Lockheed Martin as IKONOS Satellite Achieves 13 Years in Operations

SMOS has a better look at salinity

TRADE WARS
Soyuz is given the "go" for tomorrow's Arianespace launch with a pair of Galileo navigation spacecraft

Apple had warning of mapping problems

Using LabSat in the absence of GPS

New Telit GPS Miniature Receiver Based on Latest 3-D Embedded Technology is Market's Smallest

TRADE WARS
Study finds nearly 50% of retail firewood infested with insects

Northern conifers youngest of the species

Climate change cripples forests

Semi-dwarf trees may enable a green revolution for some forest crop

TRADE WARS
Palm Oil Massive Source of Carbon Dioxide

Which Biofuels Hold the Most Promise for the Future

Super-microbes engineered to solve world environmental problems

Computational Model IDs Potential Pathways to Improve Plant Oil Production

TRADE WARS
Researchers Create 'Nanoflowers' for Energy Storage, Solar Cells

China denounces solar tariffs

Research findings in solar cells will have an impact on solar panel industry

Motech Americas launches UL 1,000 Volt Certified Modules for PV Installations in North America

TRADE WARS
DNV KEMA awarded framework agreement for German wind project developer SoWiTec

Sandia Labs benchmark helps wind industry measure success

Bigger wind turbines make greener electricity

EU wind power capacity reaches 100GW

TRADE WARS
Australian coal projects mega polluters?

Australian coal basin may be top 10 polluter: Greenpeace

Coal mining jobs slashed in Australia

China mine accident kills 10

TRADE WARS
Liu still China's invisible man two years after Nobel

China bloggers expose more corruption: reports

'Stunned' Mo Yan welcomes Nobel prize

Mo Yan of China wins Nobel Literature Prize


Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement