Macroeconomics  |  December 10, 2012 17:17:11

China must stop relying on west

Export to China during November outrage and highlighted the need for countries to focus more on domestic demand, which is often domestic producers localising the production abroad overlooked.
Chinese exports to the United States slowed down by 2.6 percent and is thus the first decline since February 2011. Exports to South Korea fell for the first time since April, while exports to Europe in November fell year on year by 18 percent. Overall, then, China outraged by all major customers and the balance reached a surplus in November, 19.6 billion USD, an increase of $ 12.4 billion less than in October and the lowest since May of this year.
The Communist Party, led by the newly Xi Jinping must now try to reduce China's dependence on exports and investment flows from abroad. November The year grew by 20.7 percent, and was expected to reach a level of 21 percent. Beijing Ren Xianfang analyst said that with lábnoucí export performance reveals weaknesses in the Chinese economy, which has grown in recent years, mainly due to investments in infrastructure. K e acceleration of growth is needed to kick-start domestic demand.
Unemployment in cities surpass 8 percent and this year almost doubled. China's urban unemployment rate is the only variable measuring the number of unemployed in China and does not include outlying provinces with less population density.
Consumer inflation measured by the CPI(Consumer Price Index) is held annually in November at the level of 2 percent. The government's aim remains of around 4 percent. Consumer goods prices have been falling for nine months in a row. Caterpillar, the largest manufacturer of mining equipment in the world, expected recovery of the Chinese economy and China expected to increase further as a result of government efforts to more Chinese migrating to cities.
Chinese National Bank this week should disclose information about the money supply as measured by M2 money and the amount of new loans last month.

Index wealth - the Gini coefficient

The Gini coefficient, which measures income inequality in general, in China value of around 0.61. For an explanation of the Gini coefficient takes values ??from 0 to 1The closer the value approaches 0, the distribution of income is absolutely egalitarian approaches are therefore not relatively large differences in income of individual households. Conversely coefficient approaching the value of 1 would be referred to the state of absolute inequality. Company with a higher Gini index is characterized by large differences in incomes of individual households. In the Czech Republic, the index is at a level of about 0.25 and the EU average is about 0.31.
The Communist Party wants to reduce this disparity between rich and poor and fighting corruption. Reducing inequality is one of the great challenges for the second largest economy in the world.

(Source: Bloomberg)

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