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'Grim' months ahead for China's trade: commerce minister
Tue, Mar 10, 2009
AFP

BEIJING, March 10, 2009 (AFP) - China's foreign trade faces a grim outlook in the coming months as the global crisis continues to eat into its export-dependent economy, the commerce minister said Tuesday.

"There are many uncertainties as the world economy continues to decline," Commerce Minister Chen Deming told reporters in Beijing.

"Therefore China's foreign trade situation will remain grim in the coming months."

China's exports fell by 17.5 percent in January from a year earlier, the steepest margin in more than a decade. Export data for February are scheduled to be released Wednesday.

The economy expanded by nine percent in 2008, dipping into single-digit growth for the first time in six years.

This year could be even worse, with the World Bank predicting China's economic growth will be 7.5 percent, which would be the lowest level in 19 years.

 

 
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