NY Times – China’s exports to the United States and Southeast Asia rose last month while the country’s money supply expanded faster than expected, Chinese government agencies said on Saturday, in the first signs that the Chinese economy might be starting to bottom out.
But strengthening exports to the United States — up 5.5 percent in September compared with the same month a year ago — could also increase trade frictions at a politically touchy time for both countries. Mitt Romney, the Republican presidential nominee, and President Obama have competed this autumn to present themselves as more willing to confront China on trade issues.
Forbes – China’s third quarter GDP growth is expected to be 7.4 percent, with exports rising by a meager 4.5 percent and imports contracting by 1.2 percent. On the positive side, industrial production remains solid at 8.7 percent on the year and retail sales are buoyant from the Industrial Bank’s point of view, up 13 percent.
Chinese exporters are starting to voice hope about demand in the United States.
“We are beginning to see some improvement in the U.S. market — the second half of this year is looking better than the first half, with our U.S. orders up by roughly 8 to 10 percent,” said Dora Zhao, the sales manager at the Zhuhai Xiangrui Safety Home Appliance Company, which manufactures air purifiers in Zhuhai, in southeastern China.
Rising imports often coincide with a strengthening economy, as more prosperous and confident consumers buy more foreign goods. By that measure, the United States economy may be faring better, but the European Union is struggling — China’s exports to Europe dropped 10.7 percent last month from a year ago.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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