At a news conference, China’s Commerce Ministry spokesperson warned:
“The overall trade environment next year for China will be complicated, partly due to the economic uncertainties in the European countries, and I should say that the export situation in the first quarter of next year will be very severe.
Wang Tao, an economist at UBS Securities noted China’s growth is expected to “drop to zero in 2012,” which will have a “sizable negative impact on the economy,” and that the export figures underline “shifts in the export structure – some traditional lower-end and labor-intensive sectors may be losing market share to cheaper producers.” 

Source: HSBC, via Business Insider

Share →