Friday, July 11, 2008

Decoupling? Not so much.

Shock as China export growth falls |
by John Garnaut
CHINESE export growth has slowed to its lowest rate in at least five years, raising new risks for the world economy.

China's export volumes grew just 7 per cent in the year to June -
down from sustained growth rates above 20 per cent before the middle of
last year - and they are likely to fall further as key markets in the
United States and Europe continue to deteriorate.

"It's signalling that by the end of the year we'll have zero export
growth," said Stephen Green, an economist with Standard Chartered Bank
in Shanghai.

hat tip to Fullermoney

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