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Neo Mercantlism

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Chinese Exports Increase 46% as Demand From West Rebounds
By SHARON LAFRANIERE
Published: March 10, 2010 * Recommend * Twitter * Linkedin * Sign In to E-Mail * Print *
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BEIJING — China announced Wednesday that its exports climbed 46 percent in February from a year earlier, a sign that economists said signaled a rebound in consumer demand from the United States and other Western markets.
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Joe Tan/Reuters
At factories at Dongguan in Guangdong Province, where labor shortages have occurred, workers made bras for export.
It was the third consecutive month of increases in Chinese exports and the fastest growth in three years. Orders from the United States, the European Union and Japan accounted for almost half of the growth, after demand from emerging markets rose in the previous two months.
Chinese imports increased 45 percent over last year, led by crude oil, after factories stepped up production.
Some economists said the figures indicated China’s recovery was well under way. Tao Wang, head of China research for UBS Securities, predicted that Chinese exports would rebound to the level of 2008, before China was hurt by the global financial crisis.
Ms. Wang and others suggested that the robust growth could increase pressure on China to let its currency, the renminbi, appreciate against the dollar.
Western governments contend that pegging the renminbi to the dollar keeps Chinese exports artificially cheap and depresses competing economies. The Chinese prime minister, Wen Jiabao, said last week that exchange rates would remain “basically stable” for now.
Chen Deming, China’s commerce minister, said in late December that the

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