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Chinese exports to grow 7% in 2012 – economist

Chinese exports to grow 7% in 2012 – economist Source: www.fibre2fashion.com
Date: 07-12-2011
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Chinese export growth is expected to be around seven percent in 2012, says the Chief Economist of the Standard Chartered Bank in China.

Wang Zhi Hao expects that exports will contribute around one percent to the overall GDP growth of 8.5 percent in 2012

Economist, Fan Gang, director of the National Economic Research Institute points out that the economies of Europe and the United States will not see recession, but will be in the doldrums for a long time.

This state may last for 3 to 5 years, or may even last for 5 to 8 years, but they will not witness negative growth.

The GDP share of developed countries in global GDP has dropped to about 50 percent, which will not have particularly large impact over China's exports, he said.

At the same time, emerging market economies will still achieve substantial growth, which will be a positive factor to China's exports.

Experts say that China should develop a reasonable macroeconomic policy, taking in to consideration negative factors.

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