DOWNWARDS pressure on China's trade is mounting on account of a number of "destabilising" factors, according to assistant Commerce Minister Zhang Ji, who did not go into detail about the destabilising factors.
China sees trade coming under further downwards pressure DOWNWARDS pressure on China's trade is mounting on account of a number of "destabilising" factors, according to assistant Commerce Minister Zhang Ji, who did not go into detail about the destabilising factors. Reuters reported that Mr Zhang emphasised that global demand remained sluggish and "impossible" to change fundamentally this year in spite of trade figures over the first eight months of the year showing positive signs. "We must have a rational understanding of the situation," Mr Zhang was quoted as saying, adding that latest data from a World Trade Organisation (WTO) report also showed global trade is struggling. The WTO forecasts global trade volume will rise 1.7 per cent this year, down from an earlier forecast of 2.8 per cent growth made in April. It marks the first time in 15 years that international commerce has increased at a slower pace than the world economy. Mr Zhang said Beijing will ramp up efforts to develop a differentiation strategy in processing trade to strengthen competitiveness, and will continue to lower costs for Chinese companies by ensuring transparency.
