Macroeconomics  |  November 20, 2012 10:55:15

China dominates despite the slowdown in world trade

Ministry of Commerce of China, today announced that China's total foreign direct investment from January to October this year amounted to 91.7 billion USD, which is 3.45 percent less than the same period last year. Despite all the efforts to strike a balance between exports and domestic consumption, the Chinese economy is still very vulnerable to external demand, which is weakening because of the complex situation in Europe and the U.S.. Despite the largest annual decline since 2009, China has achieved this year for the third consecutive year the volume of investments přes100 billion.
Total exports in 2011, according to the World Bank in China comprised about 31 percent of its GDP. In world trade in China last year contributed 10.4 percent and according to its spokesmen will continue to strive to increase this proportion. To this end, Beijing introduced a package of measures to help reduce the burden on exporters and importers. Are primarily aimed at reducing bureaucracy and generally easier access to bank loans, especially exporters.

Another task of the new government for the next period will also continue the restructuring of export-oriented economy more on domestic consumption. Urbanization and the generally fast-growing consumer market, according to Beijing could be a cure to slowing economic growth in the next five years.

Source: Reuters

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