Exports from China grew 18% in December. That follows 13 months of repeated declines. It also comes a year after the Chinese gov't implemented a massive investment-led economic stimulus program. Import activities were also up 56% led by a record-setting month for crude oil and 2nd all-time-high for iron ore.
For the year, China's exports were down 16% while imports slid 11.2%. 2009 was the first year China had seen a decline in exports since 1983. That decline in '83 was a mere 0.4%
China has been very clear on the need to drive up domestic consumption. After all, having jobs and making products that have no where to go helps very little. That's one stimulus the US market is missing. Giving tax credits to those that hire people is fine, but if you don't have a market to need those jobs, those credits will offer marginal help.
No comments:
Post a Comment
All comments are moderated before being posted. Postings are at the sole discretion of the blog moderator. Anonymous postings are no longer allowed. I encourage your comments, but put you name on the bottom line!