America's North Shore Journal » China, China's Economy » China’s Money Pipeline Going Dry
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China’s Money Pipeline Going Dry
China has used its trade surplus with the US to fund its military expansion and to pay for the 10% plus growth it claims for its economy. What happens when the money dries up?
China’s exports have dropped into their biggest decline in a decade.
Exports in December were down 2.8% from the same time last year, a bigger decline than November’s 2.2% drop, the China Daily said.
The numbers provided fresh evidence of a serious trade slump that has caused a wave of factory closures and staff layoffs, analysts said.
The communist leadership has expressed fears of social unrest as economic problems worsen.
Filed under: China, China's Economy · Tags: Chinese economy, Chinese exports, Chinese trade slump, unrest in China
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