Thursday, May 03, 2007

The dragon decelerates!!!

The gargantuan Chinese trade surplus saw a decline by indicating a surplus figure of $6.9 billion for the month of March as compared to a surplus of $23.8 billion for the month of February. If one takes into consideration the growth rates, the export growth rates of the country hit a five year low of 6.9%(annual) as compared to a robust 51.7% for the month of February. Of late, the Chinese government has introduced an array of cuts in export tax rebates in order to discourage exports of certain products which are sold abroad.

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