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| China-Japan-Koreas |
| China exports, imports plunge, boding ill for growth |
| 2009-02-11 |
| Chinese exports and imports fell unexpectedly sharply in January, underlining how badly the world's third-largest economy has been hit by the global financial crisis and the impact that is having on its neighbours. Exports fell 17.5 percent from a year earlier, after a 2.8 percent decline in December, while imports plunged 43.1 percent, Chinese are preparing for 30-40% export decline twice as much as December's 21.3 percent year-on-year drop, the General Administration of Customs said on Wednesday. Yet shipments of machinery and electronics and high-tech products, which together make up over three-fourths of China's exports, fell by 20.9 percent and 28.0 percent, respectively. Imports of machinery and high-tech goods fell by roughly 40 percent, boding ill for the countries that sell such components for Chinese factories to assemble. Shipments from Japan fell by 43.5 percent from a year earlier; those from South Korea were down 46.4 percent and from Taiwan, 58 percent. Meanwhile, exports to the United States and European Union fell 9.8 percent and 17.4 percent, respectively. |
| Posted by:ed |
| #2 Already started, g(r)om. |
| Posted by: Pappy 2009-02-11 21:32 |
| #1 Expect huge weapon sales to oil ticks. |
| Posted by: g(r)omgoru 2009-02-11 09:09 |