Energy News  
TRADE WARS
China exports surge in November as trade tensions flare
By Ryan MCMORROW
Beijing (AFP) Dec 8, 2017


China's exports surged more than twice the expected pace in November, official data showed on Friday, as tensions with its largest trading partners flare.

The healthy trade data is welcome news for the world's number-two economy as Beijing looks to tackle industrial overcapacity, winter pollution and a ballooning debt pile.

Exports jumped 12.3 percent year-on-year to $217.4 billion, blowing past the 5.3 percent forecast in a Bloomberg News survey.

"The robust global economy -- both the developed and developing economies -- has lifted China's exports," Yao Shaohua, an economist at ABCI Securities Co., told Bloomberg News.

Imports expanded 17.7 percent to $177.2 billion, surpassing expectations of 13 percent.

However, China's trade surplus grew last month to $40.2 billion, suggesting tensions with key markets such as the United States and the European Union are unlikely to let up in the near future.

Strains in Beijing's relationship with Washington in particular are high -- November's trade data may add fuel to the fire with the Chinese trade surplus over the US ballooning 18.8 percent year-on-year, in renminbi terms.

- Protectionism likened to 'poison' -

US President Donald Trump has taken an aggressive stance on trade, vowing to reduce bilateral trade deficits -- particularly with China.

Visiting Beijing last month, Trump said he did not blame China for taking advantage of past US administrations on trade but indicated he would level the playing field for American companies.

"After my tour of Asia, all Countries dealing with us on TRADE know that the rules have changed," he tweeted following the visit.

"The massive TRADE deficits must go down quickly!"

Since coming into office, his administration has rapidly upped the number of tariffs and trade cases launched against China.

Last month the US Commerce Department launched an investigation into some of China's exports on its own initiative, rather than at the behest of companies, for the first time in a quarter century.

That followed new tariffs on Chinese aluminium foil and plywood imports, among others.

Many of these tariffs are applied under a US determination that China is not a market economy.

This approach allows the US greater leeway to levy duties on imports from China by comparing them to the prices of similar goods produced in "surrogate countries", rather than using Chinese data on prices in its own market.

But Beijing has ferociously denounced that policy since late last year, saying other countries are obliged to discontinue use of the "surrogate country" approach.

When asked about the US's refusal to drop the classification on Thursday, Gao Feng, a spokesman for China's commerce ministry said: "We hope the US does not ignore international rules."

Late last month, Washington said it rejected China's bid for market economy status in the World Trade Organization, filing a brief in support of the European Union in a related case.

Separately, the EU finalised a long debated move this month to battle underpriced Chinese imports, allowing higher tariff penalties to be more rapidly levied on imports manufactured at below cost.

China is contesting the positions of the EU and US to the WTO, and has criticised the US as failing to live up to its WTO obligations.

"Only by increasing cooperation can we increase mutual benefits," Gao said.

"Exercising trade protectionism is like quenching thirst with poison."

TRADE WARS
China exports soar higher than expected in November
Beijing (AFP) Dec 8, 2017
Chinese exports surged more than twice the expected pace in November, official data showed on Friday, providing some more welcome news pointing to improvement in the world's number-two economy. The healthy trade data, which also showed imports outstripping forecasts, come as Beijing looks to tackle industrial overcapacity, winter pollution and a ballooning debt pile. Exports jumped 12.3 ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
US void hard to miss at Paris climate summit

To save climate, stop investing in fossil fuels: economists

Improving sensor accuracy to prevent electrical grid overload

Japan faces challenges in cutting CO2, Moody's finds

TRADE WARS
Scientists create stretchable battery made entirely out of fabric

Surrey scientists create cheap and safe electro-catalysts for fuel cells

Army researchers seek better batteries

Superior hydrogen catalyst just grows that way

TRADE WARS
Construction to start on $160 million Kennedy Energy Park in North Queensland

U.S. wind turbines getting taller and more efficient

New wind farm in service off the British coast

End tax credits for wind energy, Tennessee Republican says

TRADE WARS
Guanidinium stabilizes perovskite solar cells at 19 percent efficiency

India faces painful move to cleaner energy

Solar power advances possible with new 'double-glazing' device

Europe moves to grow green economy at Paris meeting

TRADE WARS
Mainz physicists propose a new method for monitoring nuclear waste

Australian waste treatment technology plays major role in management of radioactive waste

AREVA NP Maintenance Technique Reduces Frequency of Component Inspections at Two Exelon Plants

Cairo, Moscow sign contract for Egypt's first nuclear plant

TRADE WARS
Bristol scientists turn beer into fuel

Hydrogen gas from enzyme production

Next generation solvent contributes to next generation biofuel production from biomass

Algae could feed and fuel planet with aid of new high-tech tool

TRADE WARS
Oil prices settle down, but still higher on North Sea outage

World Bank to stop financing oil, gas projects from 2019

Eni: More oil offshore Mexico than originally estimated

Gas prices even for now, but British pipeline problem could change that

TRADE WARS
Climate victims seek justice, on the street and in the courtroom

Macron's 'real world' climate summit to focus on finance

Paris climate summit a chance for real progress: World Bank

Drought behind worsening power outages in Malawi









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.