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China’s Exports Drop

February 11th, 2009 | 1 Comment

China’s exports fell more than expected in January, down 17.5% from a year earlier, marking the biggest drop in more than 10 years, figures have shown. Imports were down 43.1% in the month compared with a year ago, as China’s economy continued to be hit by the global economic slowdown. Analysts say the slowdown could prompt more factory closures and job losses. China’s global trade surplus widened to $39.1bn last month, after recording a surplus of $39bn in December. BBC The Ponzi scheme that is the Chinese economy is gravely threatened. Exports cannot fall for any length of time or the cash flow necessary to keep the economy super stimulated dies. Commodity prices must remain low and supply high. And the tens of millions of rural Chinese who work in the “new” economy must … Read entire article »

Filed under: China, China's Economy

China’s Money Pipeline Going Dry

January 15th, 2009 | Comments Off

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. BBC … Read entire article »

Filed under: China, China's Economy