China downcast on exports as EU debt woes bite

canada goose coats BEIJING (Reuters) China sounded a gloomy note on Tuesday about its export prospects, warning in particular that belt tightening by canada goose deeply indebted European Union governments would dampen demand for the canada goose store country https://www.alifeoutofdebt.com goods. canada goose coats

Calling the trade picture complicated and grim, the Ministry of Commerce said high growth in exports in the first half would give way to slow growth in the second half.

canada goose clearance sale sovereign debt crisis has made many EU countries shift to fiscal austerity from fiscal expansion, which will greatly restrict consumption and investment growth in the EU, the ministry spokesman, Yao Jian, told a news canada goose coats on sale conference. canada goose clearance sale

canada goose black friday sale Cheap, labor intensive products would be less vulnerable to drooping European demand than uk canada goose outlet more expensive, discretionary goods, he added. canada goose black friday sale

Canada Goose online Spain, Italy, canada goose uk black friday Germany and non euro member Britain are among EU countries that are tightening their budgets after buy canada goose jacket cheap Greece had to be bailed out in April, raising a red flag about the sustainability of public finances across Europe. Canada Goose online

buy canada goose jacket Furthermore, Brazil, India and other emerging economies have started to tighten monetary policy, the Commerce Ministry said. buy canada goose jacket

canada goose room for the further growth of Chinese Canada Goose Outlet exports is limited, Yao said. canada goose

canada goose coats on sale As a result, the ministry would keep in place policies aimed canadian goose jacket at supporting external demand for Chinese goods, including retaining export tax rebates. canada goose coats on sale

Canada Goose sale Chinese exports grew 43.9 percent in June from a year earlier, canada goose clearance beating forecasts, after 48.5 percent year on year growth in May. However, imports have also boomed, meaning net exports barely contributed to first half growth in gross domestic product, according to the National Bureau of Statistics. Canada Goose sale

Export growth in the second half of this year will slow to just 16.3 percent, giving canada goose clearance sale full year growth of about 24.5 percent, the State Information Center, a leading government think tank, said in a report published on Monday.

canada goose canada goose clearance SLOWING INTO 2011 Wang Jun, a researcher with the China Center for International Economic Exchange, a think tank under the National Development and Reform Commission, buy canada goose jacket agreed that China could not escape the fallout of the euro zone debt troubles. canada goose clearance

think growth in China exports will show a big slowdown, especially in the fourth quarter. It very likely that we see single digit growth by the end of this cheap Canada Goose year, he told a forum.

A staunch defender of China exporters, the Ministry of Commerce has a tendency to stress the Canada Goose Coats On Sale difficulties facing the sector rather than to point out that China has considerably increased its share of global markets during the economic crisis.

But the Ministry of Industry and Information Technology also raised questions about the robustness of China export rebound due to the Canada Goose Jackets weak foundation of the world recovery.

the economy is heading in the right direction, there are canada goose uk shop many difficulties and problems, Zhu Hongren, a spokesman for the ministry, told a separate news conference.

Canada Goose Jackets A lot of small export firms were experiencing financing strains, while wages had gone up by more than a fifth in the manufacturing strongholds of cheap canada goose uk the Yangtze and Pearl River Deltas. Canada Goose Jackets

cheap Canada Goose Like exports, factory growth would slow over the rest of 2010 because of a high base of comparison in 2009, the ministry said. cheap Canada Goose

But Zhu said uk canada goose the moderation would help China to upgrade its economy and lay the basis for more sustainable growth.

slowdown is not only appropriate, but will also help Canada Goose sale to facilitate adjustment in China industrial structure and economic growth, he said.

Canada Goose Outlet TIME TO START EASING? Beijing is redoubling its efforts canada goose factory sale to weed out obsolete, energy guzzling plants in a drive to meet ambitious energy intensity targets by the end of 2010. Canada Goose Outlet

Canada Goose Parka China has overtaken the United States as the world largest energy consumer, according to the International canada goose coats Energy Agency, Canada Goose Parka an assertion denied on Tuesday by a Chinese official. Canada Goose Parka

canadian goose jacket Despite the expected slowdown, full year factory output growth may be higher than the 11 percent targeted at the start of 2010, the Ministry of Industry said. canadian goose jacket

buy canada goose jacket cheap The Ministry of Commerce was also optimistic about consumer spending. Retail sales would keep growing rapidly over the rest of 2010 thanks to rising incomes and government policies to encourage consumption, the ministry said. buy canada goose jacket cheap

Overall, economists expect a further slowdown in economic growth, which moderated to canada goose uk outlet an annual rate of 10.3 percent last quarter from 11.9 percent in the first three months of 2010.

growing signs of economic slowdown, we believe that the government will now start to discuss possible policy adjustments, Ha Jiming and Xing Ziqiang, economists at China International Capital Corp, said in a report.

canada goose deals The government could accelerate the approval Canada Goose Online of Canada Goose online investment projects, relax curbs on property canada goose black friday sale speculation and loosen its liquidity controls in addition to keeping interest rates and banks required reserves unchanged, they said. canada goose deals

canada goose store Additional reporting by Aileen Wang, Chen Aizhu and Langi Chiang; Writing by Alan Wheatley; Editing by Tomasz Janowski canada goose store.