ACT: Association for Contract Textiles

CITED: CNN

It’s  not news that exports drive the Chinese economy. But the question now is how long will this segment of the economy continue to drive this huge economy, especially given the slowdown in the economic activity in the West, it’s primary market for their exports. Exports from China did increase by 13.4% in December according to the General Administration of Customs. However, other than the usual blips due to the holiday season, this was the slowest export growth for China since 2009.

While the Chinese feel that there is no reason for concern yet, the slowdown in export activity could be another sign that the 2nd largest economy in the world is likely to slow down going into 2012. China is faced with weaker demand from its principal trading partners in the West – Europe and the United States, due to the economic downtown in both economies. Another factor effecting Chinese exports is a rise in wages from the local economies, which makes Chinese exports more expensive than those being produced in other developing countries that also depend on  exports for their economic survival.

One surprising statistic to come from recent data is China’s trade surplus, which widened to $16.5 billion in December. The trade surplus measures the gap between exports and imports and the increase came as something of a surprise to most economists in light of the recent downturn in Chinese exports. However, the biggest factor effecting the trade surplus data was due to weaker imports, which was also something of a surprise considering the Chinese government’s desire to boost domestic demand.

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 My take:

The Chinese economy will continue to live and die on exports, which are tied to overall growth and the health of the economy of the West. In that regard they have a big stake in keeping things stable around the world. So, while many complain about everything being made in China, it is far better to have them in the game and concerned about global stability than to have such a huge country adding to global unrest.

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