【彭博社111110】China Exports Slow as Europe Clouds Global Outlook

lilyma06

China Exports Slow as Europe Clouds Global Outlook                                                                                  原文链接http://www.bloomberg.com/news/2011-11-10/china-s-exports-rise-at-slower-pace-as-europe-debt-crisis-clouds-outlook.html
                                                                                                                                                                                                                                                      

Containers are stacked at the Dayaowan Bonded Port Area in Dalian, Liaoning Province, China. Photographer: Nelson Ching/Bloomberg

China’s exports rose at a slowerpace in October as Europe’s sovereign-debt crisis threatensItaly and worsens the outlook for global growth.
Overseas shipments rose 15.9 percent from a year earlier,customs bureau data showed today. The trade surplus was $17billion, compared with $14.5 billion in September. Importsclimbed 28.7 percent.
Stocks are slumping on concern that Europe will struggle tokeep its currency union intact and as International MonetaryFund Managing Director Christine Lagarde warns of the risk of a“lost decade” for the world economy. China’s ruling CommunistParty aims to tame inflation without triggering a slump asreports yesterday showed weaker growth in industrial outputgrowth and the smallest gain in consumer prices in five months.
“Export growth will slow further as Europe may enter amodest recession in the fourth quarter,” Ding Shuang, a HongKong-based economist at Citigroup Inc., said before the release.“But China has a large fiscal surplus which means thegovernment could be more proactive in its spending” to supporteconomic expansion, he said.
Export growth compared with a median estimate of 16.1percent in a Bloomberg News survey of 25 economists and a gainof 17.1 percent in September. The median forecast for importswas 22.2 percent and that for the trade surplus was $25.8billion.
Orders Drop
Investors yesterday propelled Italy’s 10-year bond yield toclose at a euro-era high of 7.25 percent, escalating theregion’s crisis after the promised exit of Prime Minister SilvioBerlusconi failed to convince them that his country can slashEurope’s second-largest debt burden. In the U.S., meanwhile,demand is capped by elevated unemployment.
Orders from U.S. buyers at the Canton trade fair held inOctober and November in Guangdong province dropped 24 percentfrom a year earlier and those from European buyers fell 19percent, organizers said last week. Chinese solar-panel makerTrina Solar Ltd. cut its forecast for 2011 shipments on Nov. 3because customers in Europe have had difficulty financingprojects.
China may slow the yuan’s appreciation against the U.S.dollar to 3 percent to 4 percent until the end of 2012 from anannualized pace of 5 percent this year, London-based CapitalEconomics Ltd. said in a Nov. 3 report. Citigroup’s Dingestimates gains will slow to 4 percent next year.
“The government may want to avoid allowing too much yuanappreciation as that would hurt exports,” Ding said. “But thecurrency will still rise as China wants to encourage imports andreduce the accumulation of its foreign-exchange reserves,” hesaid.
Premier Wen Jiabao said last month the government willfine-tune economic policies as needed to sustain growth amid aglobal slowdown. He also pledged to maintain a “basicallystable” exchange rate.

tingwen

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lilyma06

tingwen 发表于 2011-11-11 13:07
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lilyma06 发表于 2011-11-11 13:16
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