|
Misinterpretation of China's April trade |
|
|
|
|
Friday, 15 May 2009 |
|
Here is the report from the NY Times: Exports from mainland China slumped 22.6 percent in April from a year earlier, official statistics showed – a decline that was not only larger than economists had expected, but was also worse than in March, when overseas shipments had declined 17.1 percent.
And the Wall St. Journal reported the following : BEIJING – China's economy is precariously poised between an aggressive stimulus program and worsening global demand, new economic data for April showed, with the nation's exports extending their decline even as domestic investment programs continued to accelerate.
However, when you looked at the overall picture, the above statements are not accurate. Yes, total trade is down compared with March on yearly basis, but that is because the big increase from March 2008 to April 2008. When compared with March number of this year, the result is clearly positive. Not only so, the total trade has been up for two consecutive months, with import increasing faster than export. Yes, the total value is still low, but it is not as bad as what is portrayed above.  |
|
Last Updated on Saturday, 16 May 2009 |