However, the morale-boosting figures were released at a time when the global economy is struggling with a slow and volatile recovery — among the other major economies, only the US economy has been showing signs of solid growth — so it is no surprise the data have been welcomed as a possible prelude to an eagerly awaited economic recovery in the world’s second-largest economy. After dipping to as low as 7.5 percent in the second quarter, the figures have raised expectations that China’s economic growth might have bottomed out, as the government’s efforts to boost growth amid economic restructuring start to take effect. The increasing manufacturing and services activities, signaled by the rising official Purchasing Managers’ Index for July, also suggest a gradual improvement in economic fundamentals. It would be rash to anticipate any strong surge in China’s economic indicators. Therefore, more data, including inflation, industrial output and retail sales, need to be monitored before it can be confidently asserted without fear of contradiction that the Chinese economy is solidly on the up again. All in all, IBUonline will take a positive view on foreign trade and believes foreign trade will have a bright future.
Posted on: Fri, 23 Aug 2013 09:21:26 +0000
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