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RMB exchange rate adjustment no solution to U.S. trade deficit: minister

RMB exchange rate adjustment no solution to U.S. trade deficit: minister Chinese Commerce Minister Chen Deming said the Chinese currency’s exchange rate is at a basically reasonable level and adjusting the rate can’t solve the U.S. trade deficit with China. Chen made the remarks Friday while meeting separately with U.S. Commerce Secretary John Bryson and [...]

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Business community looks to APEC to facilitate trade

Business community looks to APEC to facilitate trade As leaders of the 21 economies in the Asia-Pacific Economic Cooperation (APEC) community arrive here Friday to convene their annual meeting, CEOs of companies in the region are also kicking off their APEC CEO summit as part of the private sector input to the forum. Business leaders [...]

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China faces grim foreign trade outlook

China faces grim foreign trade outlook China faces a pessimistic foreign trade outlook in light of global economic turmoil, rising labor and raw material costs and mounting pressure regarding the appreciation of the yuan, a senior commerce official said Friday. Although the country has maintained steady growth in foreign trade so far this year, it [...]

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China’s imports likely to double in 5 years: trade representative

China’s imports likely to double in 5 years: trade representative In the coming five years, China’s imports are expected to more than double to exceed 8 trillion U.S. dollars, Yi Xiaozhun, China’s Permanent Representative to the World Trade Organization (WTO) said in an open forum held at the WTO headquarters Thursday. In recent years, China [...]

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Trade surplus shrinks as imports post surge

Trade surplus shrinks as imports post surge China’s trade surplus narrowed in October as unexpectedly strong domestic demand lifted imports and weak US and European demand curbed export growth, official data released on Thursday show. Imports surged 28.7 percent year-on-year to $140.46 billion, the General Administration of Customs said on its website on Thursday. Exports [...]

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New Zealand Trade Minister says U.S pushing for TPP next year

New Zealand Trade Minister says U.S pushing for TPP next year A trans-Pacific trade deal involving the United States, Australia, New Zealand and six other nations could be settled by the middle of next year if the U.S. sets a deadline at talks currently underway in Hawaii, Radio New Zealand reported Friday. The report quoted [...]

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US retailers say China essential to their futures

US retailers say China essential to their futures If one were to try to snap a photograph of China, it would be difficult to capture a still shot. That is how rapidly the country is moving and changing, said an official with the National Retail Federation of the United States, the largest retail-trade association in [...]

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Dubai show reflects optimism on Mideast auto market

Dubai show reflects optimism on Mideast auto market The five-day Dubai International Motor Show, which opened Thursday, is a reason to cheer and fear for the car industry with over 150 companies from more than 30 countries reviving up to capitalise on the Middle East region’s potential. As the biggest automotive event in the Middle [...]

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U.S. farm exports hit record high

U.S. farm exports hit record high The U.S. farm exports reached 137. 4 billion U.S. dollars in the 2011 fiscal year ending September, a record high in the history, according to final data released on Thursday by the U.S. Agriculture Department. The farm exports in the fiscal year 2011 were 22.5 billion dollars higher than [...]

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U.S., Euro crisis to continue to dent Philippine exports

U.S., Euro crisis to continue to dent Philippine exports Philippine export revenues will continue to fall in the next few months as its key markets grapple with economic crisis. The country’s export revenues fell to a two-year low of 27.4 percent to 3.876 billion U.S. dollars in September, dragged down by a sharp decline in [...]

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