China posts a surprise trade deficit as exports slow

[Viva_La_Revolution]

Source: BBC

China has reported a surprise trade deficit in February after exports slowed down.

Shipments grew at a weaker-than-expected 2.4% in February from the same month a year ago, latest figures show.

Imports on the other hand increased by 19.4%, resulting in a trade deficit of $7.3bn (£4.5bn).

The news comes at a time when China has been facing criticism over its export-led growth policy.

Read more: http://www.bbc.co.uk/news/business-12688877?utm_source=twitterfeed&utm_medium=twitter

[Wilms]

1. Well, there's a limit to how much crap we take.

:hide:

[denbot]

2. baazinga

:thumbsup:

[pampango]

3. TABLE-China Feb trade with U.S., EU, key Asia countries

http://www.reuters.com/article/2011/03/10/china-trade-partners-idUSTOE71D03020110310

Exports to/Imports from ($billions):

............................February..............January

US.....................$15.8/$7.8...........$25.2/$11.7
EU.....................$19.0/$11.3.........$29.2/$16.8
Japan..................$8.2/$12.8..........$11.6/$16.3
South Korea.........$4.7/$9.6............$6.8/$13.3
Taiwan.................$1.9/$7.5...........$2.9/$10.8
Australia...............$1.7/$4.5...........$2.8/$7.2

China exports (about 20%) more to the EU than the US, but imports more (about 40%) from the EU, too. It's trade surplus with both is about the same - $7.7 B vs $8 B.

It has a trade deficit with everyone on this list except the US and the EU.

[Javaman]

4. a huge chunk of the US trade deficit is to to oil imports...

it sounds as if china has finally reached that reality.

when you have growth 5% year on year and a gasoline powered fleet increasing on the average 6 million cars per year, what do you expect?

china, while I loath your centralized government, your atrocious human rights record, etc, please don't follow the-oil-to-grow-the-economy model, it doesn't work.

[sarcasmo]

5. No money to buy the cheap crap they make.