• Wednesday, January 29, 2020

China’s foreign trade expands 3.4% to $4.58 trillion in 2019 despite trade tensions with US

Discussion in 'China & Far East' started by Stranagor, Jan 14, 2020.

  1. Stranagor

    Stranagor FULL MEMBER

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    China’s foreign trade expands 3.4% in 2019 despite trade tensions with US

    By Chu Daye and Ma Jingjing Source:Global Times Published: 2020/1/14

    [​IMG]

    Cranes load and unload containers at a port in Tongling, East China's Anhui Province. Under the guidance of the China-proposed Belt and Road Initiative, the city adjusted its industrial structure and achieved growth in foreign trade in 2019. Photo: cnsphoto


    China posted stronger foreign trade growth in 2019 by expanding 3.4 percent year-on-year, the General Administration of Customs (GAC) said Tuesday.

    Last year saw China's total foreign trade volume reached 31.54 trillion yuan ($4.58 trillion).

    Exports climbed 5 percent year-on-year to 17.23 trillion yuan, while imports hit 14.31 trillion yuan, the data showed.

    Besides, China also saw its trade surplus widen by 25.4 percent year-on-year to 2.92 trillion yuan in 2019.

    Chinese government's measures to stabilize foreign trade have yielded a surge in exports at the year-end, while the growth is also in part attributed to a lower comparison base in 2018, Bai Ming, deputy director of the Ministry of Commerce's International Market Research Institute, told the Global Times.

    Meanwhile, import growth reflected a soar in domestic demands amid promising domestic economic growth, Bai said.

    China is scheduled to unveil its fourth-quarter and the GDP figures of 2019 on Friday.

    In 2019, China's trade with the EU, its largest trading partner, grew by 8 percent to 4.86 trillion yuan. Last year, the Association of Southeast Asian Nations (ASEAN) became China's second-largest trading partner. ASEAN's trade with China grew by 14.1 percent to 4.43 trillion yuan, while China-US trade fell by 10.7 percent to 3.73 trillion yuan. :D:tup:

    Though China and the US are expected to sign a phase one trade deal in Washington on Wednesday, Bai cautioned against high optimism about foreign trade growth for 2020.

    "Phase two trade negotiations will start soon, and US President Donald Trump may leverage on the already finalized agreements and pressure China to accept certain concessions," he said, noting that the upcoming trade talks will be more complex and the two countries' disputes will be more difficult to be resolved.
     
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  2. 8888888888888

    8888888888888 FULL MEMBER

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    Looks like the trade deal is more benefiting to USA, because it look like there are indications that USA is going to have a recession looking at the treasury bonds. China look as if it can weather the economic fall out better.
     
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  3. OBLiTeRate TrumpTurd

    OBLiTeRate TrumpTurd FULL MEMBER

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    If the idiotic Trade War phase #1 deal is obviously much more BENEFICIAL
    to the ( Undisputed Cockroaches Murican ), then why the hell is the
    Ultra COWARD and Ultra GUTLESS ... Chinese Elites made the deal
    with the #1 Global Criminal nation Low Lifers ( Undisputed Cockroaches Murican ) ??

    ===

    It is so embarrassing to all people who hate Cockroaches Muricans
    that there are so many Chinese Elites
    and so many regular Street Level Chinese ... who are so extremely
    Ultra COWARD and so Ultra GUTLESS ... when facing
    the #1
    Global Criminal nation Low Lifers ( Undisputed Cockroaches Murican ).


    1)
    ( Undisputed Cockroaches MURICAN ) has been continuously kicking Chinese behind
    without fear of revenge from CHN for the last 100+ years.

    And, without feeling shameful at all, the Chinese in general are SMILING and
    ALWAYS BEGGING the MURICANS ~ to let them stay in US.

    Just look at the behavior of Huawei and its COWARD CEO REN Zhen Fei,
    before his daughter was kidnapped by the SLAVE Canadian nation.


    CHN--must--Go--1a.jpg


    2)
    shame--shame--Cat.gif

    <<<
     
    Last edited: Jan 14, 2020
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  4. Daniel808

    Daniel808 FULL MEMBER

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    But but but according to US boot licker and supah powah horde

    China become isolated and China international trade is collapsing because trade war with cowboy

    What a low IQ keyboard warrior.
    Yankee doodle bot in this forum will not happy see this news
     
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  5. Paul2

    Paul2 FULL MEMBER

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    What to say, the rest of the world just filled the demand. Chinese manufacturing exports were very US-centric. Now it's adapt or die for people who were reluctant to sell internationally by themselves.

    Back 15-10 years ago, we had tons and tons of trade agents who took upon the task of selling stuff left over by US buyers after their financial crisis. It was back then when our companies expanded the most internationally. After US recovery, we lost momentum.

    Now we there are no trade agents left, it's a too poor business now, you can't feed yourself by being an independent agent today. This time, our companies will have to learn how to find overseas clients by themselves.
     
  6. graphican

    graphican ELITE MEMBER

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    I see Americans are frustrated and angry yet they are unable to block Chinese growth. 3.4% increase in export means none of the American efforts bore fruit. China's trade with USA may have gone low - which it has - but what is the overall outcome? Is China going down or is it still climbing high?

    If the intention was to curtail China, USA's efforts have been unfruitful.
     
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  7. Mista

    Mista SENIOR MEMBER

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    Depends on how the article is reporting, remember that the RMB depreciated massively last year and is worth less internationally.

    Measured in USD, China's foreign trade declined:

    https://amp.scmp.com/economy/global...port-growth-lost-steam-2019-amid-us-trade-war

    China’s export growth decelerated sharply to 0.5 per cent in 2019 in US dollar terms from a rise of 9.9 per cent in 2018 amid the trade war with the United States, according to data released on Tuesday.

    Zou Zhiwu, a deputy minister at the General Administration of Customs, confirmed the slowdown at a press conference after China had initially only released its 2019 trade figures only in yuan terms.

    Imports, meanwhile, fell by 2.8 per cent in 2019 in US dollar terms.

    In yuan terms, China’s exports expanded by 5 per cent in 2019, while imports expanded 1.6 per cent.
     
  8. graphican

    graphican ELITE MEMBER

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    A reduction in the rate of acceleration doesn't mean deceleration. Question will be if USA could hinder/block/prevent China from growing as a result? Not growing as fast as before may mean something on paper but in reality growth is still happening and China's economy is continuously growing at the same rate - or 0.5% slower than before if you argue. The red giant is still growing.
     
  9. Mista

    Mista SENIOR MEMBER

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    Fact is China's total trade declined last year in USD terms. It's a different picture painted by the Global Times.
     
  10. Pakistan Space Agency

    Pakistan Space Agency BANNED

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    So, what was China's total trade in 2018 in dollar terms?

    In 2019, it is $4.53 trillion.
     
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  11. OBLiTeRate TrumpTurd

    OBLiTeRate TrumpTurd FULL MEMBER

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    The BOTTOM Line is ( WHY--in--Hell ) has CHINA manufacturing been
    extremely ( Undisputed Cockroaches MURICAN )--Centric ??

    ==

    My ANSWER:
    Because, too many Chinese in general ( Elites and Regular--Street--Level Chinese )
    have been ... SELF--BRAINWASHED to act and behave as the
    ( Undisputed Cockroaches MURICAN )--SLAVES <<<


    For Example: ( @AndrewJin ,, @星海军事 )

    I am sorry to say that you and many other PDF Chinese and ( Huawei REN Zhen Fei * before his daughter was kidnapped by the Slave nation Canada ) ~ sound like those ( SELF--BRAINWASHED, Ultra COWARD, and Ultra GUTLESS ... ( Cockroaches MURICAN )--SLAVES.

    In many cases, these coward and gutless Chinese Elites and PDF Chinese have been DOCILE and allowing the Global Criminal ( Cockroaches MURICAN ) to continue bullying many other nations, such as North KOREA, IRAN, SERBIA, IRAQ, VENEZUELA, BOLIVIA, and so many other smaller nations with impunity.

    ===

    I notice over the years that ONLY a handful ( PATRIOTIC Chinese PDF ) &
    ( PATRIOTIC Chinese Supporters ) are NON--slaves and dare to attack and
    fight the Global Criminal ( Cockroaches MURICAN ).

    My utmost RESPECT & my utmost ADMIRATION to these handful
    true ( PATRIOTIC Chinese PDF ) & true ( PATRIOTIC China Supporters ) as listed below.

    These handful ( PATRIOTIC Chinese & China Supporters )
    persons are definitely ... ...

    ( @ChineseTiger1986 ,, @hirobo2 ,,
    @opruh ,, @oprih ,, @+4vsgorillas-Apebane ,,

    @grey boy 2 ,, @martin ,, @Kiss_of_the_Dragon ,,
    ... and a handful others that I can not recall their handle names ).

    *)
    2 Thumbs--Up--336px--1a.jpg


    Please forgive me if I have forgotten to include
    your handle names in my ( Respect & Admiration ) list above.
     
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  12. Viva_Viet

    Viva_Viet SENIOR MEMBER

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    CN economy is getting worse and worse and only can hope that licking Trump's azz may help CN still survive.:cool:

    -------
    A slowing economy


    China is expected to disclose its full year growth figures for 2019 on Friday. The most recent data available showed that GDP growth in the third quarter slowed to its weakest pace since 1992.

    The 6% growth was still within the government's target range of 6% to 6.5% for the year. But the slowdown is far from over, according to Gao Shanwen, chief economist for Shenzhen-based research firm Essence Securities.

    While Gao expects China's economy to keep growing, he predicts that annual GDP growth for the next decade won't exceed 5% on average. In a recent research note, he suggested that the country would have to work very hard to maintain a growth rate above even 4% — at least two percentage points lower than what Beijing is expected to set as a goal for this year during its annual meeting in March.


    The US-China trade war is responsible for a lot of the country's economic struggles, but it's only part of the story.

    Debt has soared in the past decade to extremely high levels, as the government and state-owned companies began borrowing heavily after the 2008 global financial crisis to fund houses and infrastructure projects.

    The buying power of Chinese consumers has also taken a hit as housing and pork prices rise, which could dampen spending on cars, luxury goods and high-end smartphones.

    Making matters worse: China's once-vibrant private sector is struggling. The government clamped down on unregulated lending between 2017 and early 2019 during a campaign aimed at defusing rising debt risks. But that made it harder for private companies to borrow money. And the private sector traditionally hasn't been able to rely on substantial government support.

    Banks are lending more money to state-owned enterprises in recent years, which Gao attributed to the pressure Beijing faces to maintain social order as the economy slows. It's not that the state sector is more efficient — Gao said it's actually the opposite — but that it can help stabilize employment.

    "In the short term, the pace of slowdown has eased," Gao wrote in his research note. "But in the longer run, the economy is less and less efficient."
    http://www.wicz.com/story/41552815/...nt-heres-what-its-doing-to-avoid-mass-layoffs
     
  13. KAL-EL

    KAL-EL PDF THINK TANK: ANALYST

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    You really think it’ll get so bad that they have to lick trumps azz? :eek:
     
  14. Viva_Viet

    Viva_Viet SENIOR MEMBER

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    Deng licked US-Jap's azz since 1979 despite Jap massacred million Cnese in WW2, so no surprise when Xi lick Trump-Putin's azz to survive now.

    CN only look Good on internet and DPF forum while they r sick in real life like Ah Q ( google story of true Ah Q) :cool:
     
  15. ChineseTiger1986

    ChineseTiger1986 ELITE MEMBER

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    There is no trade deal, even those slightly less delusional Trump supporters don't believe it.

    China will only buy some US soybean when it becomes dirty cheap, and this is truly the art of deal!

    Xi Jinping's entrusted commander in this trade is 钟山, not 刘鹤.

    刘鹤 only serves as a communicator, while the true person in charge is the hawk 钟山.
     
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