Tuesday, October 18, 2011

China Could Face 2012 Trade Deficit That Threatens Social Stability And 70% Of Jobs

10/18/2011 @ 4:07PM |1,418 views

Do you think that will stop growth in Australia and Canada who's economies have boomed on a commodity boom supplying China?

China’s third quarter GDP numbers, with growth falling to 9.1% year-over-year, reveal a troubled export sector under increasing cash-flow pressure.  Employing about 70% of the China’s workforce, the export sector will face their toughest years since the early ’90s as the head of China’s official research agency warned of the serious risk of a trade deficit in 2012 for the first time in two decades.
“China’s export-reliant enterprises are facing their toughest time in years. The possibility of a full-year trade deficit cannot be ruled out next year,” said Wei Jianguo, head of the China Center for International Economic Exchanges and former vice-minister of commerce, according to China Daily.

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