. Medical and Hospital News .




TRADE WARS
Japan's US-bound exports overtake China shipments
by Staff Writers
Tokyo (AFP) Dec 19, 2012


Japan's US-bound exports overtook shipments to China last month, official data showed Wednesday, as a new government in Tokyo vows to stand its ground in a bitter diplomatic dispute with Beijing.

Shipments to China tumbled 14.5 percent in November as demand for everything from cars to construction equipment fell away, while an improving US economy helped boost the flow of Japanese goods 5.3 percent on-year.

The result pushed exports to the US ahead of those to China for the first time in nearly a year, although Beijing remained Tokyo's biggest overall trade partner despite their simmering dispute over an East China Sea island chain.

The data "reflects the soundness of the US economy and brisk sales of Japanese cars there, but whether US exports will keep this pace depends on the settlement of the fiscal cliff," said Ayumi Maekawa, senior economist at Tokyo-based Mizuho Research Institute, referring to the US budgetary impasse.

"China's domestic demand is still weak but if its public spending increases that could boost exports of products like Japanese-made steel."

Overall, Japanese exports fell 4.1 percent while imports edged up 0.8 percent, translating into a $11.3 billion trade deficit for November, the fifth straight monthly shortfall and a record for the month.

Exports to Europe -- a key market for Japanese goods -- were off almost 20 percent as demand on the debt-strapped continent sagged.

"Japan's trade deficit is likely to continue for the time being as the European economy is weak," Maekawa said.

The gloomy data for Japan, which may have slipped into recession last quarter, comes days after the conservative Liberal Democratic Party swept to an electoral victory at the weekend.

Hawkish LDP leader Shinzo Abe has pledged to take a hardline stance in the dispute with China that flared badly in September after Tokyo nationalised the Senkakus, which Beijing refers to as the Diaoyu islands.

The dispute set off a bitter diplomatic row, huge anti-Japan protests across China and a consumer boycott that weighed heavily on China sales of well-known Japanese brands, including those of top automakers Toyota, Nissan and Honda.

However, sagging demand for goods such as construction equipment -- less likely to be influenced by the consumer boycott -- may also reflect uncertainty about the pace of growth in China's economy, the world's second-biggest after the US.

In a bid to reflate Japan's economy, Abe has pledged to boost infrastructure spending and pressure the Bank of Japan (BoJ) into more aggressive easing measures.

The central bank starts a two-day policy meeting Wednesday with the yen tumbling in recent weeks on speculation that an under-pressure BoJ will take some kind of policy action.

Last week, the bank's quarterly Tankan survey showed confidence among Japanese manufacturers hit a near three-year low in the final months of 2012, adding to concerns about the already weak economy, still struggling to cement a recovery after last year's quake-tsunami disaster.

All but two of Japan's 50 nuclear reactors remain offline after the atomic crisis at Fukushima, which has seen Japan's energy bills soar as it turned to pricey fossil-fuel alternatives to plug the gap.

Japan's economy contracted in the July-September quarter and possibly in the previous three months. If confirmed that would mean it is in recession.

Wednesday's data showed Japan's trade deficit last month expanded nearly 38 percent to 953.4 billion yen ($11.3 billion) from a year-earlier deficit of 691.2 billion yen.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Get Our Free Newsletters
Space - Defense - Environment - Energy - Solar - Nuclear

...





TRADE WARS
Chinese cities becoming too costly for expats: survey
Singapore (AFP) Dec 12, 2012
Chinese cities now dominate the list of the most expensive places in Asia for expatriate residents due in part to a stronger local currency, a regional survey showed Wednesday. Of the top 50 most expensive cities in the region, 16, or 32 percent, are from China, according to the survey by human resource firm ECA International. Beijing is Asia's fifth most expensive city, coming after fou ... read more


TRADE WARS
Apocalypse... but not as we know it

China opens disaster research laboratory

Doomsday cult arrests surpass 400 in China

Signs of evolving US gun debate after school tragedy

TRADE WARS
KAIST announced a major breakthrough in indoor positioning research

Third Boeing GPS IIF Begins Operation After Early Handover to USAF

Putin Urges CIS Countries to Join Glonass

Third Galileo satellite begins transmitting navigation signal

TRADE WARS
What howler monkeys can tell us about the role of interbreeding in human evolution

Study: Early humans had a taste for grass

Tracing humanity's African ancestry may mean rewriting 'out of Africa' dates

Technology has spawned 'new brain'

TRADE WARS
At high altitude, carbs are the fuel of choice

S.Africa offers cash rewards to curb poaching

Illegal wildlife trade threatens nations' security: WWF

China development threatens wildlife: WWF

TRADE WARS
Four-year-old dies from bird flu in Indonesia

Indonesia says it has found more virulent bird flu strain

Copper restricts the spread of global antibiotic-resistant infections

Why some strains of Lyme disease bacteria are common and others are not

TRADE WARS
China gives hijackers death sentences

US lawmakers, Chinese friends seek Liu Xiaobo release

Stately pleasure dome rises in China's Chengdu

Testing time for China's migrant millions

TRADE WARS
Four Chinese hostages freed in Colombia

Piracy will swell again if seas not policed: S.African Navy

Mekong River attackers get death sentences

West African pirates target oil tankers

TRADE WARS
Hong Kong probes UBS over interbank rate rigging claims

Outside View: U.S economy in 2013

World Bank ups Chinese growth projection for 2013

China property market revives despite controls




The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement