Rising export and import rates are making Chinese economy “roar back to life“, according to Shanghai Daily. Growing trade indicators for the last two months are trailblazing the way to economic recovery. In addition, growing inflation and consumer prices indexes suggest that China is proceeding on the right path.
The current state of affairs seems to confirm the positive OECD outlook on global economic recovery. The OECD report has indicated China as one of the major developing countries currently seeing the light at the end of an almost catastrophic year.
Thus the way to full recovery seems at hand, although the various indicators are still falling behind those of last year. Chinese authorities have recorded a trade surplus of “$177.96 billion in the January-November period, down 30.6 percent from a year earlier”, reports Xinhua:
From January to November, the country’s imports and exports totalled $1.96 trillion, down 17.5 percent compared with the corresponding period last year.
Imports for the first 11 months were $893.02 billion, down 15.8 percent year on year; exports dropped 18.8 percent to $1.07 trillion.
As the Wall Street Journal notices, the structural peculiarities of the Chinese market (state-pricing of raw materials, a stable monetary policy keeping the RMB from appreciating) have greatly contributed to the encouraging results achieved so far.
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