Published: Tue, April 17, 2018
Worldwide | By Gretchen Simon

Chinese President Xi Jinping inspects huge naval drills in South China Sea

Chinese President Xi Jinping inspects huge naval drills in South China Sea

More broadly, should the retaliatory trade moves escalate, and the United States slap tariffs on more mainstream goods like household appliances, consumer electronics or toys, the repercussions would be substantially higher. Its surplus with the United States rose 19.4 percent on-year to $58 billion in January-March, with exports up 14.8 percent and imports 8.9 percent higher.

China registered a rare deficit of $4.98 billion with the rest of the world last month owing to seasonal factors such as the Lunar New Year holiday.

With the threat of tariffs hanging over almost a third of China's exports to the United States, economists at Nomura say its companies may have front-loaded shipments early this year before any measures kick in.

Since there is no fixed timeline set by either Washington or Beijing for the actual imposition of tariffs, it is expected that the doors are still open for negotiations and a possible compromise would be worked out to limit the damages to both the sides.

China's reliance on exports as an economic driver has declined over the past decade, with total exports as a percentage of Gross Domestic Product dropping to 18 per cent in 2017 from 35 per cent in 2006, according to research by Credit Suisse.

Chinese exports to the United States rose 14.8% on a yearly basis, while imports grew 8.9%.

That helped narrow its surplus with the USA in March alone to $15.43 billion from $20.96 billion in February, but that was still almost 18 percent higher than March 2017.

That came after Chinese President Xi Jinping last month delivered a strongly nationalistic speech in which he vowed to protect "every inch" of China's territory.

The administration is also expected to release a separate list for the additional proposed tariffs covering $100 billion in imports from China.

In recent years, China's import demand also rose at a fast pace and contributed significantly to worldwide trade growth and promoted the rebalance of world economy.

Falcon 9 Second Stage Recovery Requires 'Giant Party Balloon'
TESS' four wide-field telescopic cameras will survey an area hundreds of times as wide, adding up to 85 percent of the entire sky. That transit detection technique was pioneered by earlier probes such as NASA's Kepler telescope, which was launched in 2009.

"Despite a number of people being against reunification by force, the number that is pro-force and anticipating a cross-Straits war is growing unprecedentedly", the editorial said.

Centaline analyst Zhang Dawei attributed the strong growth mainly to sales carried over from the previous year, steady sales in first-tier cities and high level of transactions in smaller cities.

Imports of commodities continued to lead the way in March as manufacturers replenished inventories ahead of a seasonal pick-up in demand.

- The national freight volume, an indicator of economic activity, maintained steady growth in Q1 as the freight volume was up 6.3 percent year on year to 10.2 billion tonnes.

The planned live-fire exercises follow a massive show of force by the PLA Navy on April 10 and 11, which conducted the country's largest military drills ever in the South China Sea.

It has also proved increasing boisterous in territorial disputes in the East and South China Seas and over Taiwan, a self-ruled territory Beijing claims as its own.

In the wake of a raging US-China trade war, India on Sunday offered to export soybean and other agriculture products to Beijing, which has slapped retaliatory tariffs on American products.

China's tech sector, which is key part of Beijing's longer-term "Made in China 2025" strategy to move from cheap goods to higher-value manufacturing, may be particularly vulnerable.

China says the Taiwan Travel Act violates US commitments not to restore formal exchanges severed when Washington switched diplomatic recognition from Taipei to Beijing in 1979.

Like this: