China exports unexpectedly fell in March

[Omaha Steve]

Source: AP-EXCITE

By JOE McDONALD

BEIJING (AP) - China reported an unexpected contraction in exports in March, raising the danger of job losses as Beijing tries to overhaul its slowing economy.

Customs data Thursday showed that exports fell 6.6 percent from a year earlier, well below analysts' expectations of single-digit growth. Imports contracted by 11.3 percent, highlighting the weakness in Chinese growth.

China's leaders are trying to nurture growth based on domestic consumption instead of a worn out model reliant on investment and trade. But those plans depend on strong exports to support employment during the transition. Beijing is forecasting annual trade growth of 7.5 percent, but so far this year, official data show total exports and imports down by 1 percent.

In a sign of concern about job losses, the Chinese leadership launched a mini-stimulus last month based on higher spending on construction of railways, low-cost housing and other projects.

FULL story at link.


Read more: http://apnews.excite.com/article/20140410/DAD35QUO2.html

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A window cleaner moves past an advertisement poster of a jewelry boutique in Beijing, China Thursday, April 10, 2014. China reported an unexpected contraction in exports in March, raising the danger of job losses as Beijing tries to overhaul its slowing economy. (AP Photo/Andy Wong)

[IkeRepublican]

1. Oh darn

Handing out the kleenex, as we're all saddened. (sarcasm)

[NickB79]

2. I wonder what a recession in China would look like

Hundreds of millions of angry, unemployed people living in polluted cities and shanty towns. There is already dissatisfaction with the way China is run; ramp that way up and it would be a powder keg of social unrest waiting for a spark.

If I were part of the Chinese upper class and/or political party, that's a thought that would give me nightmares.

[elleng]

3. Is this why Dow is down 224 (@ 3 p.m?)