Why the trade slump may pummel China: BW Chief Economist Mike Mandel explains why China, so far relatively unscathed, could be badly hurt by the rapid fall in global trade.
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While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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January 14th, 2009 at 6:21 pm
I am unconvinced by this video… surely Japanese & German exports to the US fell by more as they export the big ticket items like cars, washing machines etc… also suspect that Chinese exports benefit from trading down… not saying China won’t suffer but I think this is a bit shallow