Quake seen to slow exports to Japan
By Wang Yanlin |
March 16, 2011, Wednesday
|
Print Edition
Print Edition
CHINA'S exports to Japan in the short term are likely to slow on the devastating earthquake last Friday, analysts said yesterday.
They added the extent of the impact on shipments in the long term will depend on how soon Japan gets on its feet.
"With disasters of such a scale, consumer and producer demand in Japan will certainly slump," said Xu Weihong, an analyst at Guodu Securities Co.
"It is hard to pin down how big the influence will be on China's exports. What is certain is that the influence won't be small as Japan is China's third-largest trading partner," Xu said.
In the first two months, China's trade with Japan rose 28.8 percent from a year ago to US$48.8 billion, after the European Union and the United States.
But the expected easing in exports ''will add more uncertainties to China's exports, whose growth moderated surprisingly in February," Xu added.
China's exports grew only 2.4 percent from a year earlier to US$96.7 billion last month, down from January's pace of 37.7 percent and was the slowest in 15 months.
"The impact of the (quake's) influence is also dependent on Japan's crisis management and how long the country will keep their factories closed," Xu added.
There is danger of a meltdown and radiation risks in Japan, according to media reports.
They added the extent of the impact on shipments in the long term will depend on how soon Japan gets on its feet.
"With disasters of such a scale, consumer and producer demand in Japan will certainly slump," said Xu Weihong, an analyst at Guodu Securities Co.
"It is hard to pin down how big the influence will be on China's exports. What is certain is that the influence won't be small as Japan is China's third-largest trading partner," Xu said.
In the first two months, China's trade with Japan rose 28.8 percent from a year ago to US$48.8 billion, after the European Union and the United States.
But the expected easing in exports ''will add more uncertainties to China's exports, whose growth moderated surprisingly in February," Xu added.
China's exports grew only 2.4 percent from a year earlier to US$96.7 billion last month, down from January's pace of 37.7 percent and was the slowest in 15 months.
"The impact of the (quake's) influence is also dependent on Japan's crisis management and how long the country will keep their factories closed," Xu added.
There is danger of a meltdown and radiation risks in Japan, according to media reports.
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