This is certainly true-a gradual global economic recovery will help Chinese exports grow again. However, a statement from China’s Commerce Ministry said;"there are still many uncertainties and any recovery will be “hard and tortuous”. Exports in September were 15.2 per cent below their level a year earlier, beating forecasts of a 21 per cent fall, though the government expects a double-digit fall for all of 2009.
In a statement released late yesterday on the ministry’s website, it said the full-year fall in exports compared with the previous year should be less than 20 per cent.
“In 2010, the world economy will hopefully see a gradual recovery, and the environment for Chinese trade will gradually improve,” it said.
“But as there is not yet sufficient strength in the global economic recovery, many problems and contradictions have yet to be resolved. The recovery will be hard and tortuous, and it will be hard to see an sustaining recovery in international demand in the short term.”
Net exports shaved 3.6 percentage points off GDP growth of 8.9 per cent in the third quarter as Chinese manufacturers continued to reel from a slump in global trade.
"Protectionism and increasing competition are main issues of concern", the ministry said.
“At present some nations are conducting probes into Chinese goods, which is causing yet further obstruction for a recovery in Chinese exports,” it said.
A US trade panel yesterday approved the eighth government investigation this year into charges of unfair Chinese pricing practices in a case in which US companies want a nearly 100 per cent duty or more on US$382 million (RM1.3 billion) of imported steel pipes.
Still, there were signs for optimism, the ministry added.
The government will conntinue to provide help to exporters in the form of export tax rebates, and numerous new markets awaited Chinese firms.
“There is a bright future for developing trade with newly emerging markets,” it said.
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