Comments on: China Trade With EU http://fistfulofeuros.net/afoe/china-trade-with-eu/ European Opinion Mon, 13 Feb 2012 07:39:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ivan http://fistfulofeuros.net/afoe/china-trade-with-eu/comment-page-1/#comment-8995 ivan Wed, 15 Jun 2005 02:28:52 +0000 http://fistfulofeuros.net/wordpress/?p=1518#comment-8995 Interesting data. A few points. It shows again that trade results in winners and losers, in Europe and in the United States. What i'm missing is the overall picture of trade with China, which i think is still positive. I see essentially nothing wrong with running a trade deficit with China. In fact i can see something very positive about the current situation. While rich countries are running a deficit with China, that last country is absorbing imports in massive amounts from still poorer countries in Africa (oil...) and Latin-America (GMO soya from Argentina). All these countries are getting a notch up on the development ladder this way, and it would be a bad thing if protectionist pressures in Western countries would crash the whole system. And then there is France. Ah, it's exports are up thanks to Airbus. Mmmm. I'm smelling unfair trade practices here (government involvement), the kind of practices we use to accuse China of. Oh, the irony. Interesting data. A few points. It shows again that trade results in winners and losers, in Europe and in the United States. What i’m missing is the overall picture of trade with China, which i think is still positive. I see essentially nothing wrong with running a trade deficit with China. In fact i can see something very positive about the current situation. While rich countries are running a deficit with China, that last country is absorbing imports in massive amounts from still poorer countries in Africa (oil…) and Latin-America (GMO soya from Argentina). All these countries are getting a notch up on the development ladder this way, and it would be a bad thing if protectionist pressures in Western countries would crash the whole system.
And then there is France. Ah, it’s exports are up thanks to Airbus. Mmmm. I’m smelling unfair trade practices here (government involvement), the kind of practices we use to accuse China of. Oh, the irony.

]]> By: teme http://fistfulofeuros.net/afoe/china-trade-with-eu/comment-page-1/#comment-8994 teme Tue, 14 Jun 2005 17:28:46 +0000 http://fistfulofeuros.net/wordpress/?p=1518#comment-8994 Good post. I do think lot of the change is due to the fact that China has a currency peg to USD, so while the dollar has fallen so has Remnibi (sic?). And according to latest first quarter data, January to March 2005 Finland doesn't have a trade surplus with China anymore. Chinese imports at the period were 556 million euros, or 5.2% of total imports, with y/y growth of 46%. Finnish exports to China were 403, 3.3%, +3% respectfully. To put the figures in perspective 1% of Finnish GDP is something like 1.4 billion euros. Overall, Finland still has a hefty surplus (1.6 billion in first quarter) but unsuprisingly exports to USA are down 32% which I take as further evidence that this is mainly about Euro. Correspondingly, with Euro now lower we should expect the Chinese deficit to lower too for the whole euro zone. Good post. I do think lot of the change is due to the fact that China has a currency peg to USD, so while the dollar has fallen so has Remnibi (sic?).

And according to latest first quarter data, January to March 2005 Finland doesn’t have a trade surplus with China anymore. Chinese imports at the period were 556 million euros, or 5.2% of total imports, with y/y growth of 46%. Finnish exports to China were 403, 3.3%, +3% respectfully. To put the figures in perspective 1% of Finnish GDP is something like 1.4 billion euros. Overall, Finland still has a hefty surplus (1.6 billion in first quarter) but unsuprisingly exports to USA are down 32% which I take as further evidence that this is mainly about Euro. Correspondingly, with Euro now lower we should expect the Chinese deficit to lower too for the whole euro zone.

]]> By: Alex http://fistfulofeuros.net/afoe/china-trade-with-eu/comment-page-1/#comment-8993 Alex Mon, 13 Jun 2005 16:43:02 +0000 http://fistfulofeuros.net/wordpress/?p=1518#comment-8993 I wouldn't say Finland has a trade surplus with China so much as Nokia has one! I wouldn’t say Finland has a trade surplus with China so much as Nokia has one!

]]>