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Outlook for Chinese exports still grim
By Ding Qingfen (chinadaily.com.cn)
Updated: 2009-12-24 14:37
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The outlook for Chinese exports is still fairly grim next year, because demand from developed countries, including the United States and European nations, will not have sufficiently recovered, as unemployment in those countries is still too high said the Minister of Commerce, Chen Deming.
"It is impossible that growth of the exports will recover to the high of before 2008 over the next three years or even longer," said Chen during the ministry's working conference.
China's exports had been annually growing at rates as high as 25 percent annually before 2008. But the financial crisis caused China's exports to decline last November, though that decline has slowed in recent months.
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"We cannot be much positive about the prospects," he said.
China has focused on stimulating domestic demand with a massive government spending program, and as a result, the growth of imports to China will outperform Chinese exports next year Chen predicted.
