[lbo-talk] Speaking of Devaluations.

Philip Pilkington pilkingtonphil at gmail.com
Wed Mar 11 11:41:42 PDT 2009


Very sharp...

http://news.bbc.co.uk/2/hi/business/7936528.stm

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Chinese exports plunged by more than a quarter in February from a year ago as the world's third-largest economy was hit by a drop in demand for its goods.

Exports dropped by 25.7% to $64.9bn (£47.3bn) compared with the same month a year earlier, while imports fell by 24.1% to $60.1bn, figures showed.

The country's trade surplus stood at $4.8bn in February, compared with $39.1bn the month before.

The dramatic drop in exports came as a surprise to many analysts.

"This is clearly worse than expected. We were looking for a rise of 1.2%," said Robert Subbaraman at Nomura International.

"Exports will get worse before they get better. We could see contractions of up to 30%," said Ben Simpfendorfer at RBS.



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